Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>In Q1 2023, 86 different Hong Kong-listed companies bought back shares either locally or on foreign exchanges. Total buybacks were HK$22.856bn.</li>
<li>8 Companies made up 90% of the total. On average, they bought back shares 4 days out of every 10 within the quarter. </li>
<li>A lot of the smaller companies doing buybacks were significant portions of their volume.</li>
</ul>


In Q1 2023, 86 different Hong Kong-listed companies bought back shares either locally or on foreign exchanges. Total buybacks were HK$22.856bn.
8 Companies made up 90% of the total. On average, they bought back shares 4 days out of every 10 within the quarter. 
A lot of the smaller companies doing buybacks were significant portions of their volume.


HK Buybacks Q1 2023: 8 Names Are 90% of the Total - AIA, Tencent, StanChart, Greatwall the Big 4

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 analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Mar 31st based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Cspc Pharmaceutical (1093 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Tencent (700 HK), Swire Pacific (19 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Mar 31st based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Aia (1299 HK), Cspc Pharmaceutical (1093 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Tencent (700 HK), Swire Pacific (19 HK).


Hong Kong Buybacks Weekly (Mar 31st): Tencent, AIA, CSPC

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Mar 24th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Ck Asset (1113 HK), Swire Pacific (87 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Great Wall Motor (2333 HK), Swire Pacific (19 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Mar 24th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Ck Asset (1113 HK), Swire Pacific (87 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Great Wall Motor (2333 HK), Swire Pacific (19 HK).


Hong Kong Buybacks Weekly (Mar 24th): Aia, Ck Asset, Swire Pacific

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Mar 17th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Swire Pacific (19 HK), Swire Pacific (87 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Great Wall Motor (2333 HK), Aia (1299 HK), Swire Pacific (19 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Mar 17th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Swire Pacific (19 HK), Swire Pacific (87 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Great Wall Motor (2333 HK), Aia (1299 HK), Swire Pacific (19 HK).


Hong Kong Buybacks Weekly (Mar 17th): Aia, Swire Pacific, Swire Pacific

<ul>
<li>The <a href="https://www.smartkarma.com/entities/link-reit" target="_blank" data-smartkarma-citation="entities:872:1" rel="noopener">Link REIT (823 HK)</a> rights offering caused some upset amongst investors. They got dilution where they did not need it, and de-leveraging from a REIT wanting to invest.</li>
<li>The units fell in price, then fell some more. Then the rights started trading.</li>
<li>Last week in <a href="https://www.smartkarma.com/insights/link-reit-823-nil-paid-rights-start-trading-tomorrow-the-trades" target="_blank" data-smartkarma-citation="insights:97326" rel="noopener">Link REIT (823) - Nil Paid Rights Start Trading Tomorrow - The Trades</a> I said strategy was to be long by Tuesday or Wednesday. It's Wednesday.</li>
</ul>


The Link REIT (823 HK) rights offering caused some upset amongst investors. They got dilution where they did not need it, and de-leveraging from a REIT wanting to invest.
The units fell in price, then fell some more. Then the rights started trading.
Last week in Link REIT (823) - Nil Paid Rights Start Trading Tomorrow - The Trades I said strategy was to be long by Tuesday or Wednesday. It's Wednesday.


Link REIT (823) - Anchors Aweigh! Fair Weather Sailing Ahead

Hong Kong

Swire Pacific is a Hong Kong-based international conglomerate with diversified interests in property, aviation, beverages, and trading & industrials. It develops and operates mixed-use properties, holds stakes in airlines and aircraft engineering, is a major Coca-Cola bottler, and engages in various trading and industrial activities. The company is headquartered in Hong Kong and was founded in 1816.

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Swire Pacific (19 HK)

HK Buybacks Q1 2023: 8 Names Are 90% of the Total - AIA, Tencent, StanChart, Greatwall the Big 4

86 names listed in HK bought back shares in Q1. 90% of total buybacks were done by 8 names. half the names bought back less than US$1mm. AIA,...

Travis Lundy

Hong Kong Buybacks Weekly (Mar 31st): Tencent, AIA, CSPC

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Mar 24th): Aia, Ck Asset, Swire Pacific

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Aia (1299 HK), Ck...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Mar 17th): Aia, Swire Pacific, Swire Pacific

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Aia (1299 HK),...

Ke Yan, CFA, FRM

Link REIT (823) - Anchors Aweigh! Fair Weather Sailing Ahead

LINK REIT Rights trading ends soon. That's an end to obvious overhang. There may be a bit more when units are delivered in a few weeks. In the...

Travis Lundy

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