In today’s briefing:
- HSCEI Index Rebalance Preview: Increase in Velocity Could Lead to 3 Changes in March
- Korean Holdcos Vs Opcos Gap Trading Opportunities in 1Q 2025
- Quiddity JPX-Nikkei 400 Rebal 2025: End-Dec 2024 Ranks
- Shenzhen Intl (152 HK): Realisation of Asset Values
- S.F. Holding (6936 HK) – Here’s Why Post-IPO Share Price Performance Is So “Boring”
- Omni HR raises US$7.4M to simplify multi-country workforce management | e27
HSCEI Index Rebalance Preview: Increase in Velocity Could Lead to 3 Changes in March
- BeiGene and ZTO Express Cayman are potential inclusions for the Hang Seng China Enterprises Index in March while Sino Biopharmaceutical and Li Ning are potential deletions.
- There is a lower probability of Yum China Holdings (9987 HK) replacing Sunny Optical Technology Group (2382 HK) in the index in March.
- There could be a few more index inclusions for ZTO Express Cayman in March and the stock could outperform its peers over the next few months.
Korean Holdcos Vs Opcos Gap Trading Opportunities in 1Q 2025
- In this insight, we highlight the recent pricing gap divergences of the major Korean holdcos and opcos which could provide trading opportunities in 1Q 2025.
- The recent martial law cancellation and numerous impeachments of acting Presidents have raised political uncertainty in Korea resulting in widening of some gaps among numerous holdcos and opcos in Korea.
- Of the 38 pair trades, 25 of them involved holdcos outperforming opcos in the past six months and the other 13 opcos outperforming holdcos in the same period.
Quiddity JPX-Nikkei 400 Rebal 2025: End-Dec 2024 Ranks
- JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted capped index composed of 400 constituents.
- The annual index review takes place in August every year. We look at the latest rankings of potential ADDs/DELs every month.
- Below is a look at the rankings of potential ADDs/DELs for the JPX-Nikkei 400 August 2025 rebalance based on trading data as of end-December 2024.
Shenzhen Intl (152 HK): Realisation of Asset Values
- The listing of Air China Cargo and progress on the transformation and upgrading of its South China Logistics Park again demonstrated Shenzhen International (152 HK)‘s asset value.
- Its 8.8% stake in Air China Cargo is now valued at HK$10.6bn, or 61% of its market capitalisation, suggesting its other assets are almost free.
- Government approval on the South China Logistics Park transformation Phase I has been obtained, implying potential land value gains to be booked.
S.F. Holding (6936 HK) – Here’s Why Post-IPO Share Price Performance Is So “Boring”
- The Time-definite express services are actually a double-edged sword for S.F.- Although it helps S.F. establish core competitiveness, such strategy limits the Company’s market share and growth ceiling in China.
- The issue here is that S.F. has encountered growth bottlenecks, but due to its heavy asset model, the only truly suitable solution is internationalization, which however is full of uncertainties.
- S.F. is facing many challenges. The IPO final offer price of HK$34.3 is expensive, which might explain why S.F.’s share price has been a bit “boring” since its listing.
Omni HR raises US$7.4M to simplify multi-country workforce management | e27
- Omni HR, a SaaS-based employee management startup based in Singapore, has closed US$7.4 million in funding.
- The round was led by Picus Capital, with participation from Alpha JWC Ventures, January Capital, and Ratio Ventures.
- This deal brought the startup’s total funding raised to date to US$9.8 million.
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