Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>Central banks have set the stage for the next inflationary wave by moving to an easing bias despite higher inflation</li>
<li>The Federal Reserve, the BoJ, the ECB and the SNB all tilt to easing</li>
<li>US deficit spending together with China and Germany exiting an industrial recession bode well for industrial commodities</li>
</ul>


Central banks have set the stage for the next inflationary wave by moving to an easing bias despite higher inflation
The Federal Reserve, the BoJ, the ECB and the SNB all tilt to easing
US deficit spending together with China and Germany exiting an industrial recession bode well for industrial commodities


Global Easing Combined with a Resumption of Industrial Growth Is a Good Set-Up for Commodities

Cross Asset Strategy

<ul>
<li>Risk-Reward now skewed towards reward in the Hong Kong market.</li>
<li>Barbell strategy with both high-beta and lower volatility dividend stocks.</li>
<li>Some initial ideas included to add or start a portfolio  incorporating HK stocks.</li>
</ul>


Risk-Reward now skewed towards reward in the Hong Kong market.
Barbell strategy with both high-beta and lower volatility dividend stocks.
Some initial ideas included to add or start a portfolio  incorporating HK stocks.


2024 High Conviction Idea: The Case for a Rotation Out of Japan into Hong Kong - Part 3

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 21st.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent, Smic, Hua Hong Semi, Meituan, Lenovo, Knowledge Atlas, Minimax, Xiaomi, Alibaba, Zijin Gold Intl.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 21st.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Smic, Hua Hong Semi, Meituan, Lenovo, Knowledge Atlas, Minimax, Xiaomi, Alibaba, Zijin Gold Intl.


HK Connect Flows Weekly (Aug 21st): Tencent, Smic, Hua Hong Semi, Meituan, Lenovo, Knowledge Atlas

<ul>
<li>Real interest rates moving lower together with massively increasing fiscal deficits is a plus for gold.</li>
<li>Gold miners are generally poor long-term investments, but their time is close.</li>
<li>Miners’ margins are improving as revenue increases while costs decrease.</li>
</ul>


Real interest rates moving lower together with massively increasing fiscal deficits is a plus for gold.
Gold miners are generally poor long-term investments, but their time is close.
Miners’ margins are improving as revenue increases while costs decrease.


2024 High Conviction Idea -Why the Time Is Right for Gold Miners

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine for the month ended Jul 31st.</li>
<li>We estimate that the net southbound flows in July were $8.1bn Inflows.</li>
<li>We tabulate the top stocks by inflows, outflows, stake changes, and holdings, and highlight flows for Knowledge Atlas, Ntes, Kingboard Laminates, Xiaomi, Alibaba.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine for the month ended Jul 31st.
We estimate that the net southbound flows in July were $8.1bn Inflows.
We tabulate the top stocks by inflows, outflows, stake changes, and holdings, and highlight flows for Knowledge Atlas, Ntes, Kingboard Laminates, Xiaomi, Alibaba.


HK Connect Monthly (July): $8.1bn Inflows

Hong Kong

Lingbao Gold Group is a comprehensive gold enterprise primarily engaged in gold mining, smelting, and refining, producing gold bullion, silver, copper products, and sulphuric acid. The company also engages in the sale of mineral products, jewelry, and mine engineering. It was founded in 2002 and is headquartered in China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Lingbao Gold Group (3330 HK)

Global Easing Combined with a Resumption of Industrial Growth Is a Good Set-Up for Commodities

Central banks shifting towards easing despite rising inflation, sets the stage for the next inflationary wave. Commodity Prices and stocks...

Rikki Malik

2024 High Conviction Idea: The Case for a Rotation Out of Japan into Hong Kong - Part 3

The Hong Kong market offers a favorable risk-reward ratio, suggesting a barbell strategy with high-beta and low volatility dividend stocks could...

Rikki Malik

HK Connect Flows Weekly (Aug 21st): Tencent, Smic, Hua Hong Semi, Meituan, Lenovo, Knowledge Atlas

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent, Smic, Hua Hong Semi, Meituan, Lenovo, Knowledge...

Ke Yan, CFA, FRM

2024 High Conviction Idea -Why the Time Is Right for Gold Miners

The time is now right for gold miners as the gold price is set to move to new all time highs and margins expand creating a perfect storm for...

Rikki Malik

HK Connect Monthly (July): $8.1bn Inflows

We estimate inflows to be $8.1bn from mainland investors to HK stocks in July. We highlight flows for Knowledge Atlas, Ntes, Kingboard Laminates,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Easing Combined with a Resumption of Industrial Growth Is a Good Set-Up for Commodities

​Central banks shifting towards easing despite rising inflation, sets the stage for the next inflationary wave. Commodity Prices and stocks...

Rikki Malik

2024 High Conviction Idea: The Case for a Rotation Out of Japan into Hong Kong - Part 3

​The Hong Kong market offers a favorable risk-reward ratio, suggesting a barbell strategy with high-beta and low volatility dividend stocks could...

Rikki Malik

HK Connect Flows Weekly (Aug 21st): Tencent, Smic, Hua Hong Semi, Meituan, Lenovo, Knowledge Atlas

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent, Smic, Hua Hong Semi, Meituan, Lenovo, Knowledge...

Ke Yan, CFA, FRM

2024 High Conviction Idea -Why the Time Is Right for Gold Miners

The time is now right for gold miners as the gold price is set to move to new all time highs and margins expand creating a perfect storm for...

Rikki Malik

HK Connect Monthly (July): $8.1bn Inflows

We estimate inflows to be $8.1bn from mainland investors to HK stocks in July. We highlight flows for Knowledge Atlas, Ntes, Kingboard Laminates,...

Ke Yan, CFA, FRM

Central banks shifting towards easing despite rising inflation, sets the stage for the next inflationary wave. Commodity Prices and stocks...

The Hong Kong market offers a favorable risk-reward ratio, suggesting a barbell strategy with high-beta and low volatility dividend stocks could...