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>Weekly price action driven by a midweek surge which put a shine on internal participation.</li>
<li>Trading activity was subdued due to the shortened week, with volumes declining in line with typical holiday conditions.</li>
<li>Implied volatility declined across both index and single stock options, reflecting reduced activity and a quieter trading environment.</li>
</ul>


Weekly price action driven by a midweek surge which put a shine on internal participation.
Trading activity was subdued due to the shortened week, with volumes declining in line with typical holiday conditions.
Implied volatility declined across both index and single stock options, reflecting reduced activity and a quieter trading environment.


Hong Kong Single Stock Options Weekly (Apr 08–10): Markets Awaken on the Back of Midweek Taco Rally

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 analyzed the latest HK SFC report for aggregate short position as of Mar 27th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in YOFC, Pop Mart Intl, China Hongqiao, AIA, Bidu, Zijin Gold International, Cmoc, Zhejiang Leapmotor Technology.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Mar 27th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in YOFC, Pop Mart Intl, China Hongqiao, AIA, Bidu, Zijin Gold International, Cmoc, Zhejiang Leapmotor Technology.


HK Short Interest Weekly: YOFC, Pop Mart Intl, China Hongqiao, AIA, Bidu, Zijin Gold International

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 2nd.</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 Meituan, BOC, Pop Mart Intl, SMIC, Xiaomi, ICBC, CNOOC, China Life, Alibaba, CK Asset.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 2nd.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Meituan, BOC, Pop Mart Intl, SMIC, Xiaomi, ICBC, CNOOC, China Life, Alibaba, CK Asset.


HK Connect Flows Weekly (Apr 2nd): Meituan, BOC, Pop Mart Intl, SMIC, Xiaomi, ICBC, CNOOC

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Chifeng Jilong Gold Mining / Event-Driven

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/zijin-mining-group-co-ltd-h" target="_blank" data-smartkarma-citation="entities:6358:1" rel="noopener">Zijin Mining Group (2899 HK)</a></strong> is seeking to become the largest shareholder in dual-listed (and currently privately-owned) <strong><a href="https://www.smartkarma.com/entities/chifeng-jilong-gold-mining-co-ltd-6fd36a89-829f-4b46-ad2e-8900f649f679" target="_blank" data-smartkarma-citation="entities:45015:1" rel="noopener">Chifeng Jilong Gold Mining (6693 HK)</a></strong>.</li>
<li>Zijin Mining's subsidiary, Zijin Gold (not the listco), will buy 242mnn A shares of Chifeng Gold from its single largest shareholder, Li Jinyang, and concert party Zhejiang Hanfeng, at RMB41.36/share.</li>
<li>Concurrently, Zijin Gold has proposed subscribing to 311mn new H shares of Chifeng Gold at HK$30.19/share. If all goes to plan, Zijin Mining will hold 25.85% in Chifeng Gold.  </li>
</ul>



Zijin Mining Group (2899 HK) is seeking to become the largest shareholder in dual-listed (and currently privately-owned) Chifeng Jilong Gold Mining (6693 HK).
Zijin Mining's subsidiary, Zijin Gold (not the listco), will buy 242mnn A shares of Chifeng Gold from its single largest shareholder, Li Jinyang, and concert party Zhejiang Hanfeng, at RMB41.36/share.
Concurrently, Zijin Gold has proposed subscribing to 311mn new H shares of Chifeng Gold at HK$30.19/share. If all goes to plan, Zijin Mining will hold 25.85% in Chifeng Gold.  


Chifeng Jilong Gold (6693 HK): Zijin Mining Seeks Controlling Stake

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, 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

Samsung Electronics / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front,  a wave of smallish HK IPOs was launched late in the week.</li>
<li>On the placement front, deals have started to flow in across the region after a somewhat quiet war and earnings driven rest.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front,  a wave of smallish HK IPOs was launched late in the week.
On the placement front, deals have started to flow in across the region after a somewhat quiet war and earnings driven rest.


Aequitas ECM Weekly (23 March 2026)-Samsung, Kingboard, JRE, Chery, Zijin, Butong, Delton, NSing, FS

Hong Kong

Zijin Gold International Company Limited is a Hong Kong-based subsidiary of Zijin Mining Group, primarily engaged in the exploration, mining, processing, and sale of gold and other mineral resources. Its main products include gold bullion, gold alloy, and gold concentrate, with a focus on developing high-quality global gold assets. The company was incorporated in 2007 and is headquartered in Hong Kong.

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Zijin Gold International (2259 HK)

Hong Kong Single Stock Options Weekly (Apr 08–10): Markets Awaken on the Back of Midweek Taco Rally

A holiday-shortened week saw midweek strength drive participation, alongside softer volumes and vols, with Pop Mart notable for elevated Put...

John Ley

HK Short Interest Weekly: YOFC, Pop Mart Intl, China Hongqiao, AIA, Bidu, Zijin Gold International

We analyzed the latest HK SFC report for aggregate short position as of Mar 27 and highlight short interest changes in YOFC (6869 HK), Pop Mart...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Apr 2nd): Meituan, BOC, Pop Mart Intl, SMIC, Xiaomi, ICBC, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Meituan, BOC, Pop Mart Intl, SMIC, Xiaomi, ICBC, CNOOC,...

Ke Yan, CFA, FRM

Chifeng Jilong Gold (6693 HK): Zijin Mining Seeks Controlling Stake

Depending on your gold viewpoint, the consolidation of resources and output is, to me, positive amid ongoing geopolitical tensions and safe-haven...

David Blennerhassett

Aequitas ECM Weekly (23 March 2026)-Samsung, Kingboard, JRE, Chery, Zijin, Butong, Delton, NSing, FS

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)