Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>Hong Kong equities found firmer footing as global semiconductor volatility picked up amid an ongoing rotation.</li>
<li>Index and single stock implied vols continue to diverge and are nearing levels normally seen in periods of distress.</li>
<li>Health Care was the standout sector this week, with gains spread across the full group.</li>
</ul>


Hong Kong equities found firmer footing as global semiconductor volatility picked up amid an ongoing rotation.
Index and single stock implied vols continue to diverge and are nearing levels normally seen in periods of distress.
Health Care was the standout sector this week, with gains spread across the full group.


Hong Kong Single Stock Options Weekly June 29–July 03: Semi Rotation Drives a Shift in Tone

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>HSCEI serves as a benchmark to reflect the overall performance of the top 50 "Mainland China" securities listed in Hong Kong.</li>
<li>The reference period is now complete. We have presented our final expectations in this insight.</li>
<li>We expect one ADD/DEL and we estimate one-way flows of ~US$267mn.</li>
</ul>


HSCEI serves as a benchmark to reflect the overall performance of the top 50 "Mainland China" securities listed in Hong Kong.
The reference period is now complete. We have presented our final expectations in this insight.
We expect one ADD/DEL and we estimate one-way flows of ~US$267mn.


Quiddity Leaderboard HSCEI Sep26: Final Ranks; One Change Expected

Chief Economist

Diana Choyleva

Enodo Economics

Enodo Economics is an independent macroeconomic forecasting company that untangles complexity, challenges the consensus, and makes sense of the future. Our focus is on China – one of the most misunderstood economies in the world, but one of the most important to figure out.  Enodo’s chief economist, Diana Choyleva, has been analysing China for almost 20 years, while Enodo’s team boasts a combined 140 years’ experience covering China’s economy, politics and markets. 

Macroeconomics

<h2>China News That Matters</h2><ul>
<li>WHO to visit Wuhan, finally</li>
<li>So much to sell, so few containers to use</li>
<li>Cheap veg! Sign up now!</li>
<li>Toymaker Pop Mart has winning formula, for now</li>
</ul><div class="content-remarks"><p>In my weekly digest China News That Matters, I will give you selected summaries, sourced from a variety of local Chinese-language and international news outlets, and highlight why I think the news is significant. These posts are meant to neither be bullish nor bearish, but help you separate the signal from the noise.</p></div>

China News That Matters
WHO to visit Wuhan, finally
So much to sell, so few containers to use
Cheap veg! Sign up now!
Toymaker Pop Mart has winning formula, for now
In my weekly digest China News That Matters, I will give you selected summaries, sourced from a variety of local Chinese-language and international news outlets, and highlight why I think the news is significant. These posts are meant to neither be bullish nor bearish, but help you separate the signal from the noise.

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

DZT Research

DZT 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 analysed the earning revision of component stocks of HSCEI in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on HAIER SMARTHOME, BOC, AKESO, Kuaishou, XPENG, ZIJIN MINING, MEITUAN, Pop Mart Intl.</li>
</ul>


We analysed the earning revision of component stocks of HSCEI in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on HAIER SMARTHOME, BOC, AKESO, Kuaishou, XPENG, ZIJIN MINING, MEITUAN, Pop Mart Intl.


HSCEI Index Earning Revision (Jun): HAIER SMARTHOME, BOC, AKESO, Kuaishou, XPENG, ZIJIN MINING

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jun 18th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Kingboard Laminates, Tencent, Petrochina, Kingboard, Weichai Power, Yangtze Optical Fibre And-H, CNOOC.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jun 18th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Kingboard Laminates, Tencent, Petrochina, Kingboard, Weichai Power, Yangtze Optical Fibre And-H, CNOOC.


HK Short Interest Weekly: Kingboard Laminates, Tencent, Petrochina, Kingboard, Weichai Power, CNOOC

China

Pop Mart is a Chinese toy company that designs, develops, and sells collectible toys and figurines, primarily in a "blind box" format. The company focuses on intellectual property (IP) creation and operation, producing toys based on both in-house IPs like Labubu and licensed themes such as Disney and Harry Potter. Pop Mart was founded in 2010 and is headquartered in Beijing, China.

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Pop Mart (9992 HK)

Hong Kong Single Stock Options Weekly June 29–July 03: Semi Rotation Drives a Shift in Tone

Semi rotation, firmer Hong Kong equities, elevated single stock implied vols, and broad Health Care strength shaped the week in Hong Kong options.

John Ley

Quiddity Leaderboard HSCEI Sep26: Final Ranks; One Change Expected

The highest-ranked potential ADD Hua Hong Semiconductor (1347 HK) is ranked 38th and we see this as an ADD. The stock is up 520% over the past year...

Janaghan Jeyakumar, CFA

Covid-19/ Economy/ Group Buying/ IPOs

In my weekly digest, I will give you selected summaries, sourced from a variety of local Chinese-language and international news outlets, and...

Diana Choyleva

HSCEI Index Earning Revision (Jun): HAIER SMARTHOME, BOC, AKESO, Kuaishou, XPENG, ZIJIN MINING

We analyzed HSCEI's consensus for Jun 2026 and highlighted changes of EPS in HAIER SMARTHOME, BOC, AKESO, Kuaishou, XPENG, ZIJIN MINING, MEITUAN,...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Kingboard Laminates, Tencent, Petrochina, Kingboard, Weichai Power, CNOOC

We analyzed the latest HK SFC report for aggregate short position as of Jun 18th and highlight short interest changes in Kingboard Laminates (1888...

Ke Yan, CFA, FRM

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