Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/citic-ltd" target="_blank" data-smartkarma-citation="entities:20590:1" rel="noopener">Citic Ltd (267 HK)</a> is a well-managed conglomerate trading at a big discount to its constituent parts</li>
<li>Earnings should move up from here and pays a decent dividend while you wait.</li>
<li>A member of both the the Hang Seng Index (HSI INDEX)  and the HSCCI and will attract inflows once institutional money returns</li>
</ul>



Citic Ltd (267 HK) is a well-managed conglomerate trading at a big discount to its constituent parts
Earnings should move up from here and pays a decent dividend while you wait.
A member of both the the Hang Seng Index (HSI INDEX)  and the HSCCI and will attract inflows once institutional money returns


Citic Limited - A Deeply Discounted Conglomerate in the Hang Seng Index

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Macroeconomics

<ul>
<li>HK/China markets have entered a Bull market trend which was sparked by Beijing's multi-faceted stimulus program.</li>
<li>An overhang of extreme pessimism on China's economy and markets will gradually dissipate as the media/analyst narrative will follow the market higher.</li>
<li>As discussed in previous insights, a turn in sentiment is the key to not only moving the market but also to reviving the Chinese consumer.</li>
</ul>


HK/China markets have entered a Bull market trend which was sparked by Beijing's multi-faceted stimulus program.
An overhang of extreme pessimism on China's economy and markets will gradually dissipate as the media/analyst narrative will follow the market higher.
As discussed in previous insights, a turn in sentiment is the key to not only moving the market but also to reviving the Chinese consumer.


OVER THE HORIZON: HK/CHINA No Longer the Stock Market Pinata!

Cross Asset Strategy

<ul>
<li>Sentiment, positioning and valuation provide a similar setup to January 2024</li>
<li>External macro events leading to a better fundamental environment for China</li>
<li>Foreign Investors' disappointment in minimal fiscal stimulus provides an asymmetric opportunity</li>
</ul>


Sentiment, positioning and valuation provide a similar setup to January 2024
External macro events leading to a better fundamental environment for China
Foreign Investors' disappointment in minimal fiscal stimulus provides an asymmetric opportunity


Just when I Thought I Was Out, They Pull Me Back In – Time for Another Tradeable Rally in the HSI?

Thematic (Sector/Industry)

<ul>
<li>China’s economic data is continuing to surprise on the upside.</li>
<li>Investors are starting to take notice and good news is not being ignored – a sign of a change in sentiment.</li>
<li>Economically sensitive and commodity-related sectors a good hunting ground for absolute returns</li>
</ul>


China’s economic data is continuing to surprise on the upside.
Investors are starting to take notice and good news is not being ignored – a sign of a change in sentiment.
Economically sensitive and commodity-related sectors a good hunting ground for absolute returns


What's up with Hong Kong? Bull Market Dude!

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

Agricultural Bank of China / Event-Driven

<ul>
<li>Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ Insights published over the past two weeks on Smartkarma</li>
<li>In this cut, we explore A-H share trading dynamics, consider copper market dynamics and plays, and China's bottoming/stabilizing real estate market</li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next</li>
</ul>


Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ Insights published over the past two weeks on Smartkarma
In this cut, we explore A-H share trading dynamics, consider copper market dynamics and plays, and China's bottoming/stabilizing real estate market
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next


Curator's Cut: Arbs Go A-H, Copper Plays & China's Property Pulse

Hong Kong

Tracker Fund of Hong Kong (TraHK) is an ETF registered in Hong Kong. The Fund seeks to provide investment results that closely correspond to the performance of the Hang Seng Index through investing all, or substantially all, of the Fund's assets in Index Shares in substantially the same weightings as they appear in the Hang Seng Index.

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

Tracker Fund of Hong Kong (2800 HK)

Citic Limited - A Deeply Discounted Conglomerate in the Hang Seng Index

Citic $267 has now broken through the 9/24 highs. It has been a laggard, but its financial subsidiary companies have been doing well (Citic Bank...

Rikki Malik

OVER THE HORIZON: HK/CHINA No Longer the Stock Market Pinata!

HK/China markets have entered a BULL market with excessive pessimism on the economy and markets about to change. With sentiment improving China's...

David Mudd

Just when I Thought I Was Out, They Pull Me Back In – Time for Another Tradeable Rally in the HSI?

Bloomberg today -Chinese cities removing restrictions on non-Hukou purchases. "China Weighs Removing Major Homebuying Curbs to Boost...

Rikki Malik

What's up with Hong Kong? Bull Market Dude!

China's stronger economic data is catching investors' attention, signalling a shift in sentiment and highlighting opportunities in economically...

Rikki Malik

Curator's Cut: Arbs Go A-H, Copper Plays & China's Property Pulse

In this cut, we explore A-H share trading dynamics, consider copper market dynamics and plays, and China's bottoming/stabilizing real estate market.

Pranav Rao

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Citic Limited - A Deeply Discounted Conglomerate in the Hang Seng Index

Citic $267 has now broken through the 9/24 highs. It has been a laggard, but its financial subsidiary companies have been doing well (Citic Bank...

Rikki Malik

OVER THE HORIZON: HK/CHINA No Longer the Stock Market Pinata!

HK/China markets have entered a BULL market with excessive pessimism on the economy and markets about to change. With sentiment improving China's...

David Mudd

Just when I Thought I Was Out, They Pull Me Back In – Time for Another Tradeable Rally in the HSI?

Bloomberg today -Chinese cities removing restrictions on non-Hukou purchases. "China Weighs Removing Major Homebuying Curbs to Boost...

Rikki Malik

What's up with Hong Kong? Bull Market Dude!

​China's stronger economic data is catching investors' attention, signalling a shift in sentiment and highlighting opportunities in economically...

Rikki Malik

Curator's Cut: Arbs Go A-H, Copper Plays & China's Property Pulse

In this cut, we explore A-H share trading dynamics, consider copper market dynamics and plays, and China's bottoming/stabilizing real estate market.

Pranav Rao

China's stronger economic data is catching investors' attention, signalling a shift in sentiment and highlighting opportunities in economically...