ChinaDaily Briefs

China: SenseTime Group, Medical Developments International, Sichuan Tianqi Lithium Industries, Inc and more

In today’s briefing:

  • Index Rebalance & ETF Flow Recap: HSCEI, LQ45, Kakao Pay, Thai Life
  • Melco: By Far the Cheapest Bet on Recovery in the Asian Gaming Sector–With Cautions
  • ECM Weekly (19th June 2022) – Tianqi, GoAir, China United, Hongjiu Fruit, Airtel/Singtel, ExaWizards

Index Rebalance & ETF Flow Recap: HSCEI, LQ45, Kakao Pay, Thai Life

By Brian Freitas

  • It was a busy Friday with multiple implementations of the June rebalance – FTSE All-World/All-Cap, FTSE China 50/A50/TW50, S&P/ASX, REMX and GDXJ among others.
  • We highlight potential upcoming changes to the HSCEI INDEX and LQ45 Index, when Kakao Pay (377300 KS) could be added in MSCI Korea & the Thai Life IPO index inclusion.
  • There were large inflows to China and Korea focused ETFs during the week.

Melco: By Far the Cheapest Bet on Recovery in the Asian Gaming Sector–With Cautions

By Howard J Klein

  • No stock in the sector among major operators has taken a bigger hit than Melco, down over 60% this year.
  • The bet is tied to whether Beijing will begin to ease travel bans and lockdowns or not before the end of this year. If so, Melco is very cheap here.
  • Performance of its Manila property, the opening of its new Cyprus resorts could carry the company safely until Macau recovery is in place.

ECM Weekly (19th June 2022) – Tianqi, GoAir, China United, Hongjiu Fruit, Airtel/Singtel, ExaWizards

By Sumeet Singh

  • Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
  • IPO volumes remain subdued across the region, although a number of deals are said to be looking to launch soon.
  • Given the recent market volatility, there were no large placements this week.

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