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

Rikki Malik

Equity Bottom-Up

Tracker Fund of Hong Kong  / Equity Bottom-Up

<ul>
<li>If a sustainable bottom was made in January, which sectors are best to invest?</li>
<li>China State Owned Enterprises fit the current uncertain investment climate</li>
<li>The Hang Seng China Affiliated Index (red chips) provides some good ideas</li>
</ul>


If a sustainable bottom was made in January, which sectors are best to invest?
China State Owned Enterprises fit the current uncertain investment climate
The Hang Seng China Affiliated Index (red chips) provides some good ideas


Further Opportunities in the Hong Kong Market

<ul>
<li>A capitulation-type event for the Hong Kong market is ongoing.</li>
<li>High-Dividend stocks will provide a safer return regardless of broader market moves.</li>
<li>A false breakdown below Oct 2022 support will provide a signal for higher-beta exposure.</li>
</ul>


A capitulation-type event for the Hong Kong market is ongoing.
High-Dividend stocks will provide a safer return regardless of broader market moves.
A false breakdown below Oct 2022 support will provide a signal for higher-beta exposure.


Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

China Nonferrous Mining Corp / Event-Driven

<ul>
<li>A shares were down on the week, not maintaining the month-end bounce after the long weekend. H-shares were mixed. HSCEI was slightly up. </li>
<li>Net SOUTHBOUND buying was +HK23bn. SOUTHBOUND ended its consecutive post-CNY daily net buy streak on 25 March, then started a new one. No net sell days since.</li>
<li>This week saw a LOT of news. State Council Nine Points. CSRC draft regs and legislative work plan. Ratings agency action. Lots of movement. None of it hugely positive.</li>
</ul>


A shares were down on the week, not maintaining the month-end bounce after the long weekend. H-shares were mixed. HSCEI was slightly up. 
Net SOUTHBOUND buying was +HK23bn. SOUTHBOUND ended its consecutive post-CNY daily net buy streak on 25 March, then started a new one. No net sell days since.
This week saw a LOT of news. State Council Nine Points. CSRC draft regs and legislative work plan. Ratings agency action. Lots of movement. None of it hugely positive.


HK Connect SOUTHBOUND Flows (To 12 Apr 2024); Strong Net Buying. New State Council and CSRC Plans

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!

<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

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.

Tracker Fund of Hong Kong (2800 HK)

Further Opportunities in the Hong Kong Market

When we first published this piece, there was widespread scepticism about the HK/China markets. It now appears a bottom has formed and this...

Rikki Malik

Opportunities in the Hong Kong Market

Hong Kong market experiencing a capitulation event; high-dividend stocks offer stability, while any false breakdown is a signal to take higher...

Rikki Malik

HK Connect SOUTHBOUND Flows (To 12 Apr 2024); Strong Net Buying. New State Council and CSRC Plans

Strong SOUTHBOUND Connect flows continue. Only one net sell day since the end of Chinese New Year. H-shares were flat to up while A-shares were...

Travis Lundy

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

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

Citic Ltd (267 HK) is an undervalued conglomerate in the Hang Seng Index, offering a good dividend and potential for institutional inflows.

Rikki Malik

Further Opportunities in the Hong Kong Market

When we first published this piece, there was widespread scepticism about the HK/China markets. It now appears a bottom has formed and this...

Rikki Malik

Opportunities in the Hong Kong Market

​Hong Kong market experiencing a capitulation event; high-dividend stocks offer stability, while any false breakdown is a signal to take higher...

Rikki Malik

HK Connect SOUTHBOUND Flows (To 12 Apr 2024); Strong Net Buying. New State Council and CSRC Plans

Strong SOUTHBOUND Connect flows continue. Only one net sell day since the end of Chinese New Year. H-shares were flat to up while A-shares were...

Travis Lundy

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

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

​Citic Ltd (267 HK) is an undervalued conglomerate in the Hang Seng Index, offering a good dividend and potential for institutional inflows.

Rikki Malik

Hong Kong market experiencing a capitulation event; high-dividend stocks offer stability, while any false breakdown is a signal to take higher...

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

Citic Ltd (267 HK) is an undervalued conglomerate in the Hang Seng Index, offering a good dividend and potential for institutional inflows.