Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>HSTECH sees one ADD, one DELETE and several capping and re-capping actions. One of the re-caps is already an un-recap (i.e. a new capping), to be updated.</li>
<li>The ADD is <a href="https://www.smartkarma.com/entities/asm-pacific-technology-ltd" target="_blank" data-smartkarma-citation="entities:15061:1" rel="noopener">ASM Pacific Technology (522 HK)</a>, as expected, with significant ADV impact to buy. The DELETE is <a href="https://www.smartkarma.com/entities/ping-an-healthcare-and-technol" target="_blank" data-smartkarma-citation="entities:27008:1" rel="noopener">Ping An Healthcare and Technol (1833 HK)</a>, also a big sell.</li>
<li>Across the three major indices, <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group Holding (9988 HK)</a> is the big dollar sell and HSTECH changes are the biggies in terms of ADV impact.</li>
</ul>


HSTECH sees one ADD, one DELETE and several capping and re-capping actions. One of the re-caps is already an un-recap (i.e. a new capping), to be updated.
The ADD is ASM Pacific Technology (522 HK), as expected, with significant ADV impact to buy. The DELETE is Ping An Healthcare and Technol (1833 HK), also a big sell.
Across the three major indices, Alibaba Group Holding (9988 HK) is the big dollar sell and HSTECH changes are the biggies in terms of ADV impact.


Sep24 HSTECH Index Rebal - ASMPT (522 HK) ADDed as Expected, After Post-Earnings Fall

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

<ul>
<li>The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.</li>
<li>There could be one index change during the September 2024 index rebal event. The official results will be announced after market close on 16th August 2024.</li>
<li>In this insight, we take a look at our latest flow expectations based on closing prices on Monday 12th August 2024.</li>
</ul>


The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.
There could be one index change during the September 2024 index rebal event. The official results will be announced after market close on 16th August 2024.
In this insight, we take a look at our latest flow expectations based on closing prices on Monday 12th August 2024.


Quiddity Leaderboard HSTECH Sep 24: Expected ADD and DEL Have 10+ Days to Trade

<ul>
<li>The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.</li>
<li>The reference period for the September 2024 index rebal event is now complete. In this insight, we take a look at our final expectations for index changes.</li>
<li>Our current estimates suggest one-way flows due to index changes and capping could be around US$733mn but that could change by early September 2024.</li>
</ul>


The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.
The reference period for the September 2024 index rebal event is now complete. In this insight, we take a look at our final expectations for index changes.
Our current estimates suggest one-way flows due to index changes and capping could be around US$733mn but that could change by early September 2024.


Quiddity Leaderboard HSTECH Sep 24: Reference Period Over; One Change Likely; US$733mn One-Way

Blue Lotus Research Institute

Andy Fu

China growth and global non-US Internet equities

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Equity Bottom-Up

<ul>
<li>During the upcoming Dragon Boat Festival, both flight and railway traffic seems sluggish, indicating a cooled-down enthusiasm for long-distance trips due to budget constraints.</li>
<li>Data points to booming short-distance travel with self-driving as the major means, helped by lower price;</li>
<li>Benefiting from hotel booking and catering, Meituan is the biggest beneficiary of such consumption downgrade.</li>
</ul>


During the upcoming Dragon Boat Festival, both flight and railway traffic seems sluggish, indicating a cooled-down enthusiasm for long-distance trips due to budget constraints.
Data points to booming short-distance travel with self-driving as the major means, helped by lower price;
Benefiting from hotel booking and catering, Meituan is the biggest beneficiary of such consumption downgrade.


Meituan Is the Biggest Beneficiary of China's Domestic Travel Recovery

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

<ul>
<li>Chinese outbound travel demand continued its gradual recovery in April </li>
<li>Moderating domestic demand? It's not new, and outbound matters more </li>
<li>On a pullback to below US$50, we would again BUY Trip.com's ADRs</li>
</ul>


Chinese outbound travel demand continued its gradual recovery in April 
Moderating domestic demand? It's not new, and outbound matters more 
On a pullback to below US$50, we would again BUY Trip.com's ADRs


Monthly Chinese Tourism Tracker | Outbound Grinds Forward | Domestic Weakness Not New | (May 2024)

Hong Kong

Tongcheng Travel Holdings Limited is an investment holding company providing travel-related services in the People's Republic of China. It offers accommodation reservation, transportation ticketing, online advertising, hotel management, tourist attraction tickets, and packaged tours through its online platforms, mobile apps, and websites. The company was founded in 1999 and is headquartered in Suzhou, the People's Republic of China.

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

Tongcheng Travel (780 HK)

Sep24 HSTECH Index Rebal - ASMPT (522 HK) ADDed as Expected, After Post-Earnings Fall

The HSTECH Index Rebalance is as expected - one ADD and one DELETE. Both are big in terms of ADV at 10+ days to buy and sell, respectively.

Travis Lundy

Quiddity Leaderboard HSTECH Sep 24: Expected ADD and DEL Have 10+ Days to Trade

We see ASMPT (522 HK) as an expected ADD and Ping An Healthcare (1833 HK) as an expected DEL. Our latest one-way flow estimate is ~US$733mn which...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard HSTECH Sep 24: Reference Period Over; One Change Likely; US$733mn One-Way

The expected ADD ASMPT could have 15 days of volume to buy while the expected DEL Ping An Healthcare could have 9 days of volume to sell.

Janaghan Jeyakumar, CFA

Meituan Is the Biggest Beneficiary of China's Domestic Travel Recovery

Consumer enthusiasm for long-distance trips during the Dragon Boat Festival has cooled. Short-distance tours are popular, benefiting low-cost...

Blue Lotus Research Institute

Monthly Chinese Tourism Tracker | Outbound Grinds Forward | Domestic Weakness Not New | (May 2024)

Outbound Chinese travel demand continued its recovery in April. Chinese travel-linked shares have pulled back over concerns about hotel and air...

Tracking Traffic

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sep24 HSTECH Index Rebal - ASMPT (522 HK) ADDed as Expected, After Post-Earnings Fall

The HSTECH Index Rebalance is as expected - one ADD and one DELETE. Both are big in terms of ADV at 10+ days to buy and sell, respectively.

Travis Lundy

Quiddity Leaderboard HSTECH Sep 24: Expected ADD and DEL Have 10+ Days to Trade

We see ASMPT (522 HK) as an expected ADD and Ping An Healthcare (1833 HK) as an expected DEL. Our latest one-way flow estimate is ~US$733mn which...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard HSTECH Sep 24: Reference Period Over; One Change Likely; US$733mn One-Way

The expected ADD ASMPT could have 15 days of volume to buy while the expected DEL Ping An Healthcare could have 9 days of volume to sell.

Janaghan Jeyakumar, CFA

Meituan Is the Biggest Beneficiary of China's Domestic Travel Recovery

​Consumer enthusiasm for long-distance trips during the Dragon Boat Festival has cooled. Short-distance tours are popular, benefiting low-cost...

Blue Lotus Research Institute

Monthly Chinese Tourism Tracker | Outbound Grinds Forward | Domestic Weakness Not New | (May 2024)

Outbound Chinese travel demand continued its recovery in April. Chinese travel-linked shares have pulled back over concerns about hotel and air...

Tracking Traffic

Consumer enthusiasm for long-distance trips during the Dragon Boat Festival has cooled. Short-distance tours are popular, benefiting low-cost...