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 Hong Kong Connect flows with our data engine for holding position as of November 22nd.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent, Alibaba, Meituan, Ping An Insurance, Xiaomi.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of November 22nd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Alibaba, Meituan, Ping An Insurance, Xiaomi.


Hong Kong Connect Flows (Nov 22nd): Tencent, Alibaba, Meituan, Ping An Insurance, Xiaomi

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The HS HK-Listed Biotech Index ("Hang Seng Biotech Index") represents the 50 largest biotech companies listed in Hong Kong (HKEX).</li>
<li>The official index changes and indicative weights for the December 2024 index rebal event will be announced on Friday 22nd November 2024.</li>
<li>In this insight, we take a look at our updated flow expectations.</li>
</ul>


The HS HK-Listed Biotech Index ("Hang Seng Biotech Index") represents the 50 largest biotech companies listed in Hong Kong (HKEX).
The official index changes and indicative weights for the December 2024 index rebal event will be announced on Friday 22nd November 2024.
In this insight, we take a look at our updated flow expectations.


Quiddity Leaderboard Hang Seng Biotech Dec 24: Positive Flows for Beigene and Innovent Biologics

<ul>
<li>The HS HK-Listed Biotech Index ("Hang Seng Biotech Index") represents the 50 largest biotech companies listed in Hong Kong (HKEX).</li>
<li>In this insight, we take a look at the final rankings of potential ADDs/DELs and our capping flow expectations for the December 2024 index rebal event.</li>
<li>We expect two changes for the HSHKBIO index in December 2024. </li>
</ul>


The HS HK-Listed Biotech Index ("Hang Seng Biotech Index") represents the 50 largest biotech companies listed in Hong Kong (HKEX).
In this insight, we take a look at the final rankings of potential ADDs/DELs and our capping flow expectations for the December 2024 index rebal event.
We expect two changes for the HSHKBIO index in December 2024. 


Quiddity Leaderboard Hang Seng Biotech Dec 24: Two Changes Expected + Capping Flows

<ul>
<li>The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.</li>
<li>In this insight, we take a look at the rankings of potential ADDs and potential DELs for the December 2024 index rebal event.</li>
<li>At present, we see one ADD and one DEL. If this index change takes place, there could be US$538mn capping flows one-way.</li>
</ul>


The HSTECH Index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.
In this insight, we take a look at the rankings of potential ADDs and potential DELs for the December 2024 index rebal event.
At present, we see one ADD and one DEL. If this index change takes place, there could be US$538mn capping flows one-way.


Quiddity Leaderboard HSTECH Dec 24: One Change Possible; US$538 Capping Flows One-Way

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Equity Bottom-Up

<ul><li>Accelerating the design and discovery of novel drugs and materials leveraging quantum physics, AI and robotic automation.</li><li>Founded by three MIT-trained physicists, QuantumPharm Inc. is a globally leading, quantum physics-based, AI-powered, and robotics-driven, innovative R&amp;D platform in terms of technological advantages, aiming to accelerate the design and discovery of novel drugs and materials.</li><li>The Company adopts a combination of quantum physics-based first-principles calculation, advanced AI, highperformance cloud computing, and scalable and standardized robotic automation to provide drug and material science R&amp;D solutions and services to global conglomerates and innovative companies in the pharma and material science industries and beyond.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Accelerating the design and discovery of novel drugs and materials leveraging quantum physics, AI and robotic automation.Founded by three MIT-trained physicists, QuantumPharm Inc. is a globally leading, quantum physics-based, AI-powered, and robotics-driven, innovative R&amp;D platform in terms of technological advantages, aiming to accelerate the design and discovery of novel drugs and materials.The Company adopts a combination of quantum physics-based first-principles calculation, advanced AI, highperformance cloud computing, and scalable and standardized robotic automation to provide drug and material science R&amp;D solutions and services to global conglomerates and innovative companies in the pharma and material science industries and beyond.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

QuantumPharm (2228 HK) - Advanced Quantum Physics-Based, AI-Powered and Robotics

China

XtalPi is a biotechnology company that leverages artificial intelligence, quantum physics, and robotics to provide research and development solutions for early-stage drug discovery and material science. Its services include drug discovery solutions and intelligent automation solutions, offering products like XmartChem and PatSight. The company was founded in 2015 and is headquartered in Shenzhen, China.

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XtalPi (2228 HK)

Hong Kong Connect Flows (Nov 22nd): Tencent, Alibaba, Meituan, Ping An Insurance, Xiaomi

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent, Alibaba, Meituan, Ping An Insurance, Xiaomi.

Ke Yan, CFA, FRM

Quiddity Leaderboard Hang Seng Biotech Dec 24: Positive Flows for Beigene and Innovent Biologics

QuantumPharm (2228 HK) and Fangzhou (6086 HK) are expected ADDs. 3D Medicines (1244 HK) and CARSgen Therapeutics (2171 HK) are expected DELs.

Janaghan Jeyakumar, CFA

Quiddity Leaderboard Hang Seng Biotech Dec 24: Two Changes Expected + Capping Flows

Assuming the two index changes expected in this insight take place, there will be US$33mn capping flow which translates to a turnover of 2.8%. Five...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard HSTECH Dec 24: One Change Possible; US$538 Capping Flows One-Way

There could be more than 10x ADV to buy in AAC technology (2018 HK) if it gets added to the HSTECH index and the stock could outperform the index...

Janaghan Jeyakumar, CFA

QuantumPharm (2228 HK) - Advanced Quantum Physics-Based, AI-Powered and Robotics

Accelerating the design and discovery of novel drugs and materials leveraging quantum physics, AI and robotic automation.

CMB International

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