Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Death sentence / Caixin Explains: The extreme graft cases dealt a death sentence without reprieve</li><li>Insights /: Currency diversification can coexist with dollar dominance, vice finance minister says</li><li>Corruption /: China investigates two more ex-financial overseers for corruption</li></ul>

Death sentence / Caixin Explains: The extreme graft cases dealt a death sentence without reprieveInsights /: Currency diversification can coexist with dollar dominance, vice finance minister saysCorruption /: China investigates two more ex-financial overseers for corruption

CX Daily: The Extreme Graft Cases Dealt a Death Sentence Without Reprieve 

<ul><li>Pension / Cover Story: China’s pension plan faces prospect for change or going bust</li><li>Exports /China facing container shortage as exporters rush to beat looming U.S. tariffs</li><li>Personnel /Chinese foreign ministry promotes long-time spokesperson to vice minister</li></ul>

Pension / Cover Story: China’s pension plan faces prospect for change or going bustExports /China facing container shortage as exporters rush to beat looming U.S. tariffsPersonnel /Chinese foreign ministry promotes long-time spokesperson to vice minister

CX Daily: China’s Pension Plan Faces Prospect for Change or Going Bust 

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The changes to the Hang Seng family of indices were announced post market close on 21 August - final capping will use closing prices from the close on 1 September.</li>
<li>There are 2 adds for the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">HSI</a>, no constituent changes <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">HSCEI</a>, 1 change for the <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">HSTECH</a>, 5 changes for the HSIII, and 1 change for the HSBIO.</li>
<li>There are 61 adds and 15 deletes for the Hang Seng Composite Index and that should lead to 54 additions to Southbound Stock Connect from the open on 7 September.</li>
</ul>


The changes to the Hang Seng family of indices were announced post market close on 21 August - final capping will use closing prices from the close on 1 September.
There are 2 adds for the HSI, no constituent changes HSCEI, 1 change for the HSTECH, 5 changes for the HSIII, and 1 change for the HSBIO.
There are 61 adds and 15 deletes for the Hang Seng Composite Index and that should lead to 54 additions to Southbound Stock Connect from the open on 7 September.


Hang Seng Indexes: US$3.2bn of Flows Post Capping + Stock Connect Changes (Sep 2026)

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 analysed the earning revision of component stocks of HS TECH 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 Kuaishou, XPENG, XIAOMI, BIDU, LI AUTO, SMIC.</li>
</ul>


We analysed the earning revision of component stocks of HS TECH 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 Kuaishou, XPENG, XIAOMI, BIDU, LI AUTO, SMIC.


HS TECH Index Earning Revision (Aug): Kuaishou, XPENG, XIAOMI, BIDU, LI AUTO, SMIC

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>The global Smart Cities market size was valued at $1.5 trillion in 2020 and is projected to grow to $11 trillion by 2030, a CAGR of more than 20%.</li><li>While North America is currently the largest market, Asia-Pacific is projected to overtake it in a few years.</li><li>Smart Cities are urban areas that utilize digital infrastructure and interconnected systems, most likely using artificial intelligence (AI). </li></ul>

The global Smart Cities market size was valued at $1.5 trillion in 2020 and is projected to grow to $11 trillion by 2030, a CAGR of more than 20%.While North America is currently the largest market, Asia-Pacific is projected to overtake it in a few years.Smart Cities are urban areas that utilize digital infrastructure and interconnected systems, most likely using artificial intelligence (AI). 

Tech Talk: Smart Cities Delivering on the Promise

China

SenseTime is a leading artificial intelligence software company that researches, develops, and sells AI software platforms. It provides AI technologies across generative AI, traditional AI, and smart auto, enabling digital transformation for enterprises, smart city management, and applications in IoT, Metaverse, smart health, and automotive. The company was founded in 2014 and is headquartered in Hong Kong.

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SenseTime (20 HK)

CX Daily: The Extreme Graft Cases Dealt a Death Sentence Without Reprieve

Death sentence / Caixin Explains: The extreme graft cases dealt a death sentence without reprieve On Tuesday, a former general manager of China...

Caixin Global

CX Daily: China’s Pension Plan Faces Prospect for Change or Going Bust

Pension / Cover Story: China’s pension plan faces prospect for change or going bust China’s pension plan for employees of state-owned and private...

Caixin Global

Hang Seng Indexes: US$3.2bn of Flows Post Capping + Stock Connect Changes (Sep 2026)

The Sep rebalance of the HSI, HSCEI, HSTECH, HSIII indices will use 1 Sep closing prices for capping. The round-trip trade across the four indices...

Brian Freitas

HS TECH Index Earning Revision (Aug): Kuaishou, XPENG, XIAOMI, BIDU, LI AUTO, SMIC

We analyzed HS TECH's consensus for Aug 2026 and highlighted changes of EPS in Kuaishou, XPENG, XIAOMI, BIDU, LI AUTO, SMIC.

Ke Yan, CFA, FRM

Tech Talk: Smart Cities Delivering on the Promise

The global Smart Cities market size was valued at $1.5 trillion in 2020 and is projected to grow to $11 trillion by 2030, a CAGR of more than 20%.

Water Tower Research

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