Daily Brief Event-Driven: HK Connect SOUTHBOUND Flows (2Wks To 16 Jan 2026) - China Mobile Sold Heavily and more

In today’s briefing:

HK Connect SOUTHBOUND Flows (2Wks To 16 Jan 2026) – China Mobile Sold Heavily, Tech Bought Heavily
A/H Premium Tracker (2Wks to 16 Jan 2026): Spreads Bouncy but ~Flat on Net, Quiddity Port 👍
Merger Arb Mondays (19 Jan) – IJM, Dongfeng, BioDlink, Makino, Toyota Ind, Mandom, Qube, Webjet

HK Connect SOUTHBOUND Flows (2Wks To 16 Jan 2026) – China Mobile Sold Heavily, Tech Bought Heavily

HK$128bn+/Day of gross SOUTHBOUND activity the first two weeks of the year, and net buying of HK$43bn.
Relatively high div low vol SOEs were net sold. Again. China Mobile shellacked with net selling every day for 10 days (actually net sold every day since 11 Dec).
The data tables below update daily in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there – free – for all SK readers.

Hs within the liquid AH pair universe OUT-performed As on average by 0.14% in two weeks. Beautiful Skew was mixed. Spreads all over. Early doors
Quiddity H/A Portfolio performance +43bp of which +41bp was alpha, +2bp was H/A “beta.” I am staying the course of Beautiful Skew.
The data tables below update daily in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there – free for all SK readers. Recently used are now sticky.

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