Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

OmniVision Integrated Circuits Group / Event-Driven

OmniVision Integrated Circuits Group (603501 CH)

<ul>
<li><em>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</em></li>
<li>Last week saw NORTHBOUND net SELL RMB 11.8bn of A-shares. NORTHBOUND bought utilities and raw materials and sold everything else, especially consumer names. Appliances remain on the sell side.</li>
<li>It is notable that net flows as a percentage of value traded are clearly "short gamma", which is to say, sector underperformers are being sold, not bought. </li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net SELL RMB 11.8bn of A-shares. NORTHBOUND bought utilities and raw materials and sold everything else, especially consumer names. Appliances remain on the sell side.
It is notable that net flows as a percentage of value traded are clearly "short gamma", which is to say, sector underperformers are being sold, not bought. 


Mainland Connect NORTHBOUND Flows (To 28 June 2024): BIG Consumer Name Selling Again

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 the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 28th.</li>
<li>We estimate the weekly outflows to be US$1,763.0 million, led by information technology, consumer staples, consumer discretionary, and offset by utilities.</li>
<li>We highlight flows for Foxconn Industrial Internet, Zhejiang Sanhua Intelligent Controls, Wanhua Chemical, BYD.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 28th.
We estimate the weekly outflows to be US$1,763.0 million, led by information technology, consumer staples, consumer discretionary, and offset by utilities.
We highlight flows for Foxconn Industrial Internet, Zhejiang Sanhua Intelligent Controls, Wanhua Chemical, BYD.


Northbound Flows (Jun 28th): Foxconn Industrial Internet, Wanhua Chemical, BYD

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 21st.</li>
<li>We estimate the weekly outflows to be US$2,274.9 million, led by consumer staples, consumer discretionary, financials, and offset by information technology, energy.</li>
<li>We highlight flows for Seres, Luxshare Precision, Zhongji Innolight, Eoptolink Technology Inc.,, Moutai, Midea, China Yangtze Power, Zijin Mining, Inner Mongolia Yili Industrial.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 21st.
We estimate the weekly outflows to be US$2,274.9 million, led by consumer staples, consumer discretionary, financials, and offset by information technology, energy.
We highlight flows for Seres, Luxshare Precision, Zhongji Innolight, Eoptolink Technology Inc.,, Moutai, Midea, China Yangtze Power, Zijin Mining, Inner Mongolia Yili Industrial.


Northbound Flows (Jun 21st): Seres, Luxshare Precision, Zhongji Innolight, Eoptolink, Moutai, Midea

<ul>
<li>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</li>
<li>Last week saw NORTHBOUND net BUY RMB 5.3bn of A-shares on lower gross volumes. NORTHBOUND bought utilities, renewables, and semiconductors, and sold Kweichow Moutai, Midea, Bk Jiangsu, and Wuliangye Yibin.</li>
<li>Ongoing questions as to whether the NORTHBOUND volumes to the buy side are all foreigners. Some suspect there is national team buying mixed in, as was expected from earlier announcements.</li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net BUY RMB 5.3bn of A-shares on lower gross volumes. NORTHBOUND bought utilities, renewables, and semiconductors, and sold Kweichow Moutai, Midea, Bk Jiangsu, and Wuliangye Yibin.
Ongoing questions as to whether the NORTHBOUND volumes to the buy side are all foreigners. Some suspect there is national team buying mixed in, as was expected from earlier announcements.


Mainland Connect NORTHBOUND Flows (To 7 June 2024): Large Renewables Buying Drive Small Net Buying

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 7th.</li>
<li>We estimate the weekly inflows to be US$946.1 million, led by information technology, health care, utilities sectors, and offset by consumer staples, financials, energy.</li>
<li>We highlight flows for China Yangtze Power, Jinko Solar, Naura Technology, Will Semiconductor, China National Nuclear Power, Midea, Moutai, Bank Of Jiangsu, Wuliangye, Inovance.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 7th.
We estimate the weekly inflows to be US$946.1 million, led by information technology, health care, utilities sectors, and offset by consumer staples, financials, energy.
We highlight flows for China Yangtze Power, Jinko Solar, Naura Technology, Will Semiconductor, China National Nuclear Power, Midea, Moutai, Bank Of Jiangsu, Wuliangye, Inovance.


Northbound Flows (Jun 7th): China Yangtze Power, Jinko Solar, Naura Technology, CNNP

China

OmniVision Integrated Circuits Group, Inc. manufactures image sensor and semiconductor products. The Company produces and sells complementary metal oxide semiconductors, protecting devices, power devices, power management integrated circuits, radio frequency devices, microphone sensors, and more. OmniVision Integrated Circuits Group markets its products worldwide.

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OmniVision Integrated Circuits Group (603501 CH)

Mainland Connect NORTHBOUND Flows (To 28 June 2024): BIG Consumer Name Selling Again

NORTHBOUND net selling continues. It is dominant in the consumer names. Appliances continue to see weakness. Tech is mixed. Renewables are mixed....

Travis Lundy

Northbound Flows (Jun 28th): Foxconn Industrial Internet, Wanhua Chemical, BYD

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Foxconn Industrial Internet, Zhejiang Sanhua...

Ke Yan, CFA, FRM

Northbound Flows (Jun 21st): Seres, Luxshare Precision, Zhongji Innolight, Eoptolink, Moutai, Midea

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Seres, Luxshare Precision, Zhongji Innolight,...

Ke Yan, CFA, FRM

Mainland Connect NORTHBOUND Flows (To 7 June 2024): Large Renewables Buying Drive Small Net Buying

NORTHBOUND saw net buying this week. Large caps saw net selling but semiconductor names see ongoing buying. I expect semicaps will continue to see...

Travis Lundy

Northbound Flows (Jun 7th): China Yangtze Power, Jinko Solar, Naura Technology, CNNP

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for China Yangtze Power, Jinko Solar, Naura Technology,...

Ke Yan, CFA, FRM

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