Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.</li>
<li>Overall, net inflow over the past week was ~US$1.7bn, split between Shanghai (+US$1.8bn) and Shenzhen (-US$0.1bn).</li>
<li>The largest inflows were into <a href="https://www.smartkarma.com/entities/nari-technology-co-ltd-a" target="_blank" data-smartkarma-citation="entities:4364:1" rel="noopener">NARI Technology (600406 CH)</a> and <a href="https://www.smartkarma.com/entities/kweichow-moutai-co-ltd-a" target="_blank" data-smartkarma-citation="entities:1553:1" rel="noopener">Kweichow Moutai (600519 CH)</a>. The largest outflows were in <a href="https://www.smartkarma.com/entities/contemporary-amperex-techn-a" target="_blank" data-smartkarma-citation="entities:24404:1" rel="noopener">CATL (300750 CH)</a> and <a href="https://www.smartkarma.com/entities/wuliangye-yibin-co-ltd" target="_blank" data-smartkarma-citation="entities:19968:1" rel="noopener">Wuliangye Yibin Co Ltd (000858 CH)</a>.</li>
</ul>


Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
Overall, net inflow over the past week was ~US$1.7bn, split between Shanghai (+US$1.8bn) and Shenzhen (-US$0.1bn).
The largest inflows were into NARI Technology (600406 CH) and Kweichow Moutai (600519 CH). The largest outflows were in CATL (300750 CH) and Wuliangye Yibin Co Ltd (000858 CH).


Shanghai/​​​​​Shenzhen Northbound Connect: Weekly Moves (24 June 2022)

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Consumer staples and information technology led the outflows of the market.</li>
<li>Stocks we highlighted include Zijin Mining, Nari, Wuxi Apptec, Sungrow, Moutai, Wuliangye, Yangtze Power, East Money</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.
Consumer staples and information technology led the outflows of the market.
Stocks we highlighted include Zijin Mining, Nari, Wuxi Apptec, Sungrow, Moutai, Wuliangye, Yangtze Power, East Money


Northbound Flows: Moutai, Wuliangye, Yangtze Power, East Money

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Consumer staples and materials sectors led the outflows while energy, communication services and real estate led the inflows.</li>
<li>We highlight stocks with top weekly outflows: Moutai, East Money, Yunnan Energy, CATL, Naura Tech.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.
Consumer staples and materials sectors led the outflows while energy, communication services and real estate led the inflows.
We highlight stocks with top weekly outflows: Moutai, East Money, Yunnan Energy, CATL, Naura Tech.


Northbound Flows: $10bn Outflows in 2 Weeks

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Most sectors experienced sell down except utilities and energy sector. </li>
<li>Top three sells were CATL, Ping An Insurance, and Moutai. </li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine.
Most sectors experienced sell down except utilities and energy sector. 
Top three sells were CATL, Ping An Insurance, and Moutai. 


Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Thematic (Sector/Industry)

<ul>
<li>Over the past 2 years, Industrials exposure has almost doubled among China A-Share active investors.  Today's weight of 18.7% and overweight of 1.69% are near peak levels.</li>
<li>The most widely held stocks in the sector are CATL (A), Luxshare Precision Industry (002475 CH), Shenzhen Inovance Technology Co. (300124 CH) and EVE Energy (300014 CH)</li>
<li>Weight increases in the Industrials sector far outweighed decreases over the last half of 2021. Sungrow Power Supply (300274 CH) and NARI Technology Co (600406 CH) were among the beneficiaries.</li>
</ul>


Over the past 2 years, Industrials exposure has almost doubled among China A-Share active investors.  Today's weight of 18.7% and overweight of 1.69% are near peak levels.
The most widely held stocks in the sector are CATL (A), Luxshare Precision Industry (002475 CH), Shenzhen Inovance Technology Co. (300124 CH) and EVE Energy (300014 CH)
Weight increases in the Industrials sector far outweighed decreases over the last half of 2021. Sungrow Power Supply (300274 CH) and NARI Technology Co (600406 CH) were among the beneficiaries.


China

NARI Technology Co., Ltd. develops, manufactures and sells automation products for electricity distribution, converting stations, coal-fired power plants, and industrial process. The Company also provides services and system integration.

Price Gauge
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NARI Technology Co Ltd A (600406 CH)

Shanghai/Shenzhen Northbound Connect: Weekly Moves (24 June 2022)

Overall, net inflow over the past week was ~US$1.7bn, split between Shanghai (+US$1.8bn) and Shenzhen (-US$0.1bn). The largest inflows were into...

David Blennerhassett

Northbound Flows: Moutai, Wuliangye, Yangtze Power, East Money

We highlighted top weekly northbound stock connect outflows from Moutai, Wuliangye, China Yangtze Power, East Money at the back drop of three weeks...

Ke Yan, CFA, FRM

Northbound Flows: $10bn Outflows in 2 Weeks

We highlight two weeks of big outflows from A-share by northbound investors, and stocks with top weekly outflows including Moutai, East Money,...

Ke Yan, CFA, FRM

Northbound Flows: Big Sell Down

We highlight big sell down of USD 5.6bn last week by northbound investors, and highlight top three weekly sells were CATL, Ping An Insurance, and...

Ke Yan, CFA, FRM

China A-Shares: Industrials Revolution

Over the past 2 years, Industrials exposure has almost doubled among China A-Share active investors. Today's weight of 18.7% and overweight of...

Steven Holden

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Shanghai/​​​​​Shenzhen Northbound Connect: Weekly Moves (24 June 2022)

Overall, net inflow over the past week was ~US$1.7bn, split between Shanghai (+US$1.8bn) and Shenzhen (-US$0.1bn). The largest inflows were into...

David Blennerhassett

Northbound Flows: Moutai, Wuliangye, Yangtze Power, East Money

We highlighted top weekly northbound stock connect outflows from Moutai, Wuliangye, China Yangtze Power, East Money at the back drop of three weeks...

Ke Yan, CFA, FRM

Northbound Flows: $10bn Outflows in 2 Weeks

We highlight two weeks of big outflows from A-share by northbound investors, and stocks with top weekly outflows including Moutai, East Money,...

Ke Yan, CFA, FRM

Northbound Flows: Big Sell Down

We highlight big sell down of USD 5.6bn last week by northbound investors, and highlight top three weekly sells were CATL, Ping An Insurance, and...

Ke Yan, CFA, FRM

China A-Shares: Industrials Revolution

Over the past 2 years, Industrials exposure has almost doubled among China A-Share active investors. Today's weight of 18.7% and overweight of...

Steven Holden

Shanghai/Shenzhen Northbound Connect: Weekly Moves (24 June 2022)