Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Thematic (Sector/Industry)

<p>May tourist arrival data from several popular destinations in the region continue to show a marked shift from patterns that were established in 2016 and earlier. In particular, Chinese tourist flows to Taiwan and Korea continued to decline sharply in May, and growth in Chinese tourist arrivals in Japan and Thailand remained tepid. The gradual recovery in Chinese travel to Macau and Hong Kong continued in May, but the big winner so far in 2017 remains Vietnam, where Chinese and total arrivals…</p>

May tourist arrival data from several popular destinations in the region continue to show a marked shift from patterns that were established in 2016 and earlier. In particular, Chinese tourist flows to Taiwan and Korea continued to decline sharply in May, and growth in Chinese tourist arrivals in Japan and Thailand remained tepid. The gradual recovery in Chinese travel to Macau and Hong Kong continued in May, but the big winner so far in 2017 remains Vietnam, where Chinese and total arrivals…

Chinese Tourist Flows Within Asia Region Continue to Show Dramatic Shift Vs. 2016 Trends

<h2>Overview</h2><p>Chinese travel and tourism activity has grown strongly in recent years on the back of rising private consumption. But it appears that last year's surge in Chinese outbound travel has slowed significantly, and that domestic travel demand has suddenly accelerated in early 2017. Furthermore, some popular Chinese destinations in the region are suddenly seeing fewer Chinese tourists, while other have seen a marked improvement in Chinese visitors year-to-date. </p><p>In this brief note we outline…</p>

OverviewChinese travel and tourism activity has grown strongly in recent years on the back of rising private consumption. But it appears that last year's surge in Chinese outbound travel has slowed significantly, and that domestic travel demand has suddenly accelerated in early 2017. Furthermore, some popular Chinese destinations in the region are suddenly seeing fewer Chinese tourists, while other have seen a marked improvement in Chinese visitors year-to-date. In this brief note we outline…

Dramatic Changes in Chinese Travel & Tourism Flows YTD 2017; What Are the Causes, Implications?

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>Last October, a global index provider announced that Vietnam would be added to their index in September 2026 as long as progress was made on one key issue.</li>
<li>On 2 February, the Ministry of Finance issued a circular that allows foreign investors to place orders through global brokers, in addition to trading through local brokers.</li>
<li>That should clear the way for inclusion of Vietnam stocks in the global index in September. Inclusion should take place in more than 1 tranche to minimise market impact.</li>
</ul>


Last October, a global index provider announced that Vietnam would be added to their index in September 2026 as long as progress was made on one key issue.
On 2 February, the Ministry of Finance issued a circular that allows foreign investors to place orders through global brokers, in addition to trading through local brokers.
That should clear the way for inclusion of Vietnam stocks in the global index in September. Inclusion should take place in more than 1 tranche to minimise market impact.


Vietnam: Global Index Inclusion Probability Jumps; Updated Names & Flows

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Skymark Airlines / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/skymark-airlines-inc" target="_blank" data-smartkarma-citation="entities:20430:1" rel="noopener">Skymark Airlines (9204 JP)</a> is looking to raise approximately US$218m in its upcoming Japan IPO.  </li>
<li>Skymark Airlines (SA) is a Japanese low-cost airline, being the third largest domestic airline  according to the company. Unlike major airlines and other low-cost carriers, Skymark operates only domestic flights.</li>
<li>In this note, we talk about the company's past performance.</li>
</ul>



Skymark Airlines (9204 JP) is looking to raise approximately US$218m in its upcoming Japan IPO.  
Skymark Airlines (SA) is a Japanese low-cost airline, being the third largest domestic airline  according to the company. Unlike major airlines and other low-cost carriers, Skymark operates only domestic flights.
In this note, we talk about the company's past performance.


Skymark Airlines Pre-IPO - Highly Leveraged with a History of Bankruptcy

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hagl-jsc" target="_blank" data-smartkarma-citation="entities:6632:1" rel="noopener">Hagl Jsc (HAG VN)</a> is an inclusion while An Phat Holdings (APH VN) and CEO Group (CEO VN) are deletes from the MVIS Vietnam Index at the September rebalance.</li>
<li>There are a lot of float and capping changes that will result in one-way turnover of 12% and a one-way trade of US$45m.</li>
<li>There are a lot of stocks that have over 1 day of ADV to trade and there could be opportunities to enter/exit positions on a move in the stocks.</li>
</ul>



Hagl Jsc (HAG VN) is an inclusion while An Phat Holdings (APH VN) and CEO Group (CEO VN) are deletes from the MVIS Vietnam Index at the September rebalance.
There are a lot of float and capping changes that will result in one-way turnover of 12% and a one-way trade of US$45m.
There are a lot of stocks that have over 1 day of ADV to trade and there could be opportunities to enter/exit positions on a move in the stocks.


MVIS Vietnam Index Rebalance: One Add, Two Deletes

Vietnam

VietJet Aviation Joint Stock Company is a low-cost airline that provides passenger and cargo air transportation services on domestic and international routes. The company also offers airline-related support services, in-flight advertising, and trades in and leases aircraft and components. It was founded in 2007 and is headquartered in Hanoi, Vietnam.

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

VietJet Aviation (VJC VN)

Chinese Tourist Flows Within Asia Region Continue to Show Dramatic Shift Vs. 2016 Trends

May tourist arrival data from several popular destinations in the region continue to show a marked shift from patterns that were established in...

Daniel Hellberg

Dramatic Changes in Chinese Travel & Tourism Flows YTD 2017; What Are the Causes, Implications?

OverviewChinese travel and tourism activity has grown strongly in recent years on the back of rising private consumption. But it appears that last...

Daniel Hellberg

Vietnam: Global Index Inclusion Probability Jumps; Updated Names & Flows

The MoF approval for international investors to place orders through global brokers resolves the main hurdle for global index inclusion. Passives...

Brian Freitas

Skymark Airlines Pre-IPO - Highly Leveraged with a History of Bankruptcy

Skymark Airlines (9204 JP) is looking to raise approximately US$218m in its upcoming Japan IPO. In this note, we talk about the company's past...

Ethan Aw

MVIS Vietnam Index Rebalance: One Add, Two Deletes

There is 1 addition and 2 deletions for the MVIS Vietnam Index. There are a lot of float and capping changes that will result in one-way turnover...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)