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 analyse the changes of A-H premium on 185 stocks over the last week. The average A-H premium was 85.6% as of Jun 26th.</li>
<li>The average A-H premium changed by 5.5ppt week-on-week, led by real estate, information technology, utilities and offset by communication services, energy.</li>
<li>We highlight weekly changes in A-H premium for Midea, Cmoc, Htsc, China Longyuan, Times Electric, Innocare.</li>
</ul>


We analyse the changes of A-H premium on 185 stocks over the last week. The average A-H premium was 85.6% as of Jun 26th.
The average A-H premium changed by 5.5ppt week-on-week, led by real estate, information technology, utilities and offset by communication services, energy.
We highlight weekly changes in A-H premium for Midea, Cmoc, Htsc, China Longyuan, Times Electric, Innocare.


A-H Premium Weekly (Jun 26th): Midea, Cmoc, Htsc, China Longyuan, Times Electric, Innocare

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

China’s new volume-based purchasing policy is undoubtedly a revolution for China healthcare industry. The implementation of this new policy has brought great challenges and pressure to many domestic pharmaceutical companies. However, at the same time, it also brings new opportunities - The golden age for China CRO industry is coming.

China’s new volume-based purchasing policy is undoubtedly a revolution for China healthcare industry. The implementation of this new policy has brought great challenges and pressure to many domestic pharmaceutical companies. However, at the same time, it also brings new opportunities - The golden age for China CRO industry is coming.

Insights On China Healthcare Policy - 4+7: New Volume-Based Purchasing Policy

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>Hong Kong equities weakened sharply, with the decline from the highs approaching 20% in stark contrast to global indexes</li>
<li>Single stock option activity picked up meaningfully as Put trading increased and Call share moved toward the lower end of its range.</li>
<li>Implied vols were sharply higher across the board as market weakness drove a broad repricing of single stock volatility.</li>
</ul>


Hong Kong equities weakened sharply, with the decline from the highs approaching 20% in stark contrast to global indexes
Single stock option activity picked up meaningfully as Put trading increased and Call share moved toward the lower end of its range.
Implied vols were sharply higher across the board as market weakness drove a broad repricing of single stock volatility.


Hong Kong Single Stock Options Weekly June 22–26: Option Volumes Jump on Continued Market Weakness

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

For now we view the recent pullback as a countertrend move that helped correct the extended and overbought conditions we noted over the past two weeks. Overhead resistance on the MSCI EM, EAFE, and ACWI ex-US indexes (all priced in local currency) is something to be aware of, however if the ACWI-US is above $70 our bullish outlook remains appropriate.  In today's report we highlight attractive charts in both defensive and cyclical Sectors. On the semi-defensive side, Sectors covered include Health Care and Services. On the cyclical side, Sectors covered include Energy, Financials, Materials, and Transportation

For now we view the recent pullback as a countertrend move that helped correct the extended and overbought conditions we noted over the past two weeks. Overhead resistance on the MSCI EM, EAFE, and ACWI ex-US indexes (all priced in local currency) is something to be aware of, however if the ACWI-US is above $70 our bullish outlook remains appropriate.  In today's report we highlight attractive charts in both defensive and cyclical Sectors. On the semi-defensive side, Sectors covered include Health Care and Services. On the cyclical side, Sectors covered include Energy, Financials, Materials, and Transportation

Global Equity Strategy: Short-Term Bullish Trends Clash With Longer-Term Resistance

Derivatives and Quantitative Strategist

Gaudenz Schneider

<ul>
<li>
HKEX Expands Weekly Options: 17 new single-stock weekly expiries are launched in the next two weeks, doubling the offering of Hong Kong’s fast-growing short-dated options market.</li>
<li>
Why It Matters: Weekly expiries let traders and investors hedge or speculate around key events with precision. They offer lower premiums and higher gamma than longer-dated contracts.</li>
<li>
Momentum: Trading volumes in existing weeklies continues to rise, underscoring rising investor adoption and liquidity.</li>
</ul>



HKEX Expands Weekly Options: 17 new single-stock weekly expiries are launched in the next two weeks, doubling the offering of Hong Kong’s fast-growing short-dated options market.

Why It Matters: Weekly expiries let traders and investors hedge or speculate around key events with precision. They offer lower premiums and higher gamma than longer-dated contracts.

Momentum: Trading volumes in existing weeklies continues to rise, underscoring rising investor adoption and liquidity.


Pop Mart, Trip.com, Geely Auto, and More: Weekly Options Start Trading on 15 June

China

WuXi AppTec Co., Ltd. manufactures medical products. The Company produces biological agents, antibodies, biological diagnostic reagents, and other products. WuXi AppTec also provides biological analysis, technical study, and other services.

Price Gauge
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WuXi AppTec (603259 CH)

A-H Premium Weekly (Jun 26th): Midea, Cmoc, Htsc, China Longyuan, Times Electric, Innocare

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Midea, Cmoc, Htsc, China Longyuan, Times Electric, Innocare.

Ke Yan, CFA, FRM

Insights On China Healthcare Policy - 4+7: New Volume-Based Purchasing Policy

This article analyzed China’s revolutionary volume-based purchasing policy, its impact on domestic healthcare companies and related investment...

Xinyao (Criss) Wang

Hong Kong Single Stock Options Weekly June 22–26: Option Volumes Jump on Continued Market Weakness

Hong Kong equities weakened further as option volumes jumped, Put activity picked up, and implied vols rose across single stocks and the index.

John Ley

Global Equity Strategy: Short-Term Bullish Trends Clash With Longer-Term Resistance

For now we view the recent pullback as a countertrend move that helped correct the extended and overbought conditions we noted over the past two...

Vermilion Research

Pop Mart, Trip.com, Geely Auto, and More: Weekly Options Start Trading on 15 June

Today, HKEX launches weekly trading in options on Geely (175 HK), Li Auto (2015 HK), XPeng (9868 HK), NetEase (9999 HK), Sun Hung Kai Properties...

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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