Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Aussie gold and copper explorer <a href="https://www.smartkarma.com/entities/gbm-resources-ltd" target="_blank" data-smartkarma-citation="entities:16326:1" rel="noopener">GBM Resources (GBZ AU)</a> has announced plans to seek a secondary listing in Hong Kong.</li>
<li>GBM has entered a memorandum of understanding with its major shareholder, Wise Walkers Limited, which will fund all listing-related expenses - to be repaid upon a successful listing.</li>
<li>The listing is, ostensibly, to "broaden its investor base"; however <a href="https://www.smartkarma.com/entities/zijin-gold-international" target="_blank" data-smartkarma-citation="entities:45448:1" rel="noopener">Zijin Gold (2259 HK)</a>'s barnstorming IPO debut probably spurred on this development. </li>
</ul>


Aussie gold and copper explorer GBM Resources (GBZ AU) has announced plans to seek a secondary listing in Hong Kong.
GBM has entered a memorandum of understanding with its major shareholder, Wise Walkers Limited, which will fund all listing-related expenses - to be repaid upon a successful listing.
The listing is, ostensibly, to "broaden its investor base"; however Zijin Gold (2259 HK)'s barnstorming IPO debut probably spurred on this development. 


GBM Resources (GBZ AU)'s Proposed Secondary Listing In Hong Kong

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Bottom-Up

<ul>
<li>ETF flows in the Asian region continued their positive momentum during August with Southbound Connect positive again for the week.</li>
<li>
<a href="https://www.smartkarma.com/entities/stella-international" target="_blank" data-smartkarma-citation="entities:7610:1" rel="noopener">Stella International (1836 HK)</a> will increase its dividends and buybacks after positive earnings surprise. <a href="https://www.smartkarma.com/entities/aia-group-ltd" target="_blank" data-smartkarma-citation="entities:14895:1" rel="noopener">AIA Group Ltd (1299 HK)</a> saw a surge in new policies from mainlanders in HK.
</li>
<li>
<a href="https://www.smartkarma.com/entities/lufax-holding-ltd-b751749a-8feb-4b4d-85a7-d99ac0308fe7" target="_blank" data-smartkarma-citation="entities:40067:1" rel="noopener">Lufax Holding (6623 HK)</a> reported an earnings miss with declining loan volume. <a href="https://www.smartkarma.com/entities/yancoal-australia" target="_blank" data-smartkarma-citation="entities:8427:1" rel="noopener">Yancoal Australia (3668 HK)</a> reported a decline of 57% in earnings which was below analysts' estimates.
</li>
</ul>


ETF flows in the Asian region continued their positive momentum during August with Southbound Connect positive again for the week.

Stella International (1836 HK) will increase its dividends and buybacks after positive earnings surprise. AIA Group Ltd (1299 HK) saw a surge in new policies from mainlanders in HK.


Lufax Holding (6623 HK) reported an earnings miss with declining loan volume. Yancoal Australia (3668 HK) reported a decline of 57% in earnings which was below analysts' estimates.



The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (August 26)

Cross Asset Strategy

<ul>
<li>China and Hong Kong saw positive ETF flows for the week.</li>
<li>Dividend Yield, Low Volatility and Value strategies have outperformed during the market correction in Hong Kong.</li>
<li>Lufax Holdings jumps after announcement that Ping An will increase stake.  Fufeng slumps after announcing a decline in 1st half profit.</li>
</ul>


China and Hong Kong saw positive ETF flows for the week.
Dividend Yield, Low Volatility and Value strategies have outperformed during the market correction in Hong Kong.
Lufax Holdings jumps after announcement that Ping An will increase stake.  Fufeng slumps after announcing a decline in 1st half profit.


The Heat Is On: News Flow and Sentiment in CHINA/HONG KONG (July 5th)

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Index Rebalance

<ul>
<li>In this insight, we take a look at a group of names with reasonably high likelihood of being involved in index changes for the Hang Seng Index in September 2023.</li>
<li>The index changes for the December 2023 rebalance will be announced in mid-November (17 Nov) and implemented in early-December (with effect from 4 Dec).</li>
<li>Although the Hang Seng index has a highly subjective constituent selection process and index changes are somewhat unpredictable, we will continue sharing our thoughts for each quarterly review.</li>
</ul>


In this insight, we take a look at a group of names with reasonably high likelihood of being involved in index changes for the Hang Seng Index in September 2023.
The index changes for the December 2023 rebalance will be announced in mid-November (17 Nov) and implemented in early-December (with effect from 4 Dec).
Although the Hang Seng index has a highly subjective constituent selection process and index changes are somewhat unpredictable, we will continue sharing our thoughts for each quarterly review.


Quiddity Leaderboard for Hang Seng Index Dec 23: High Conviction Names Have Decent Momentum Vs HSI

<ul>
<li>In this insight, we take a look at some of the names with high likelihood of being involved in index changes for the Hang Seng Index in September 2023.</li>
<li>The index changes for the September 2023 rebalance could be announced in mid-August and implemented in early-September.</li>
<li>Although the index methodology is highly subjective and predicting index changes is extremely tricky, the HSI is an important index in the region and here are our thoughts for September. </li>
</ul>


In this insight, we take a look at some of the names with high likelihood of being involved in index changes for the Hang Seng Index in September 2023.
The index changes for the September 2023 rebalance could be announced in mid-August and implemented in early-September.
Although the index methodology is highly subjective and predicting index changes is extremely tricky, the HSI is an important index in the region and here are our thoughts for September. 


Quiddity Leaderboard for Hang Seng Index Sep 23: Beigene Vs Peers An Interesting Trade

Australia

Yancoal Australia Limited provides coal mining services. The Company mines, processes, and sells pure-coal, metallurgical coal, and more. Yancoal Australia also exports its products.

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Yancoal Australia (3668 HK)

GBM Resources (GBZ AU)'s Proposed Secondary Listing In Hong Kong

There is no specific/hard catalyst here. I don't have a strong conviction on the underlying ops. But kudos for exploring this avenue - there may...

David Blennerhassett

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (August 26)

ETF flows were again led by China. Stella International reported a surge in earnings and AIA announced new policy growth exceeded expectations....

David Mudd

The Heat Is On: News Flow and Sentiment in CHINA/HONG KONG (July 5th)

ETF flows continued to be positive for China during the week and Southbound Connect program continued to show inflows into HK market. Dividend,...

David Mudd

Quiddity Leaderboard for Hang Seng Index Dec 23: High Conviction Names Have Decent Momentum Vs HSI

The Hang Seng Index changes for Dec 23 will be published after the close on Friday 17th November 2023. In this insight, you can see Quiddity's...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard for Hang Seng Index Sep 23: Beigene Vs Peers An Interesting Trade

Hang Seng Index Sep 23 index changes and indicative weights could be published after the close on Friday 18th August 2023. The Hang Seng Index...

Janaghan Jeyakumar, CFA

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