In today’s briefing:
- Kirin Sells The Myanmar JV to MEHL: Not a Fair Valuation But Getting At Least Some Money Is a Bonus
- Shanghai/Shenzhen Southbound Connect: Weekly Moves (30 June 2022)
- Shanghai/Shenzhen Northbound Connect: Weekly Moves (24 June 2022)
Kirin Sells The Myanmar JV to MEHL: Not a Fair Valuation But Getting At Least Some Money Is a Bonus
- Kirin Holdings (2503 JP) announced yesterday that it will transfer its stake in the Myanmar business (51% of share capital) to its JV partner MEHL, via a share buyback of ¥22.4bn.
- Having disposed most of the other underperforming assets during 2018-21, the Myanmar business was the main issue holding back Kirin’s share price performance.
- With the Myanmar issue resolved better than anticipated, it seems like the right time for Kirin to get a move on.
Shanghai/Shenzhen Southbound Connect: Weekly Moves (30 June 2022)
- Inside is a recap of movements in the last week relating to the Shanghai and Shenzhen-Hong Kong Stock Connect facilities, broken down by company and industry.
- Overall, net inflow over the past week was ~US$1.5bn, split US$0.4bn for Shanghai and US$1.2bn for Shenzhen.
- He largest inflows were into Geely Auto (175 HK), Li Auto (2015 HK), and HKEX (388 HK). The largest outflow was in China Mobile (941 HK) and CCB (939 HK).
Shanghai/Shenzhen Northbound Connect: Weekly Moves (24 June 2022)
- Inside is a recap of movements in the last week relating to the Hong Kong Stock Exchange -Shanghai and Shenzhen Northbound Connect facilities, broken down by company and industry.
- Overall, net inflow over the past week was ~US$3.9bn, split between Shanghai (+US$2.2bn) and Shenzhen (+US$1.7bn).
- The largest inflows were into Kweichow Moutai (600519 CH) and Hongfa Technology (600885 CH). The largest outflows were in Zijin Mining (601899 CH)and Zhejiang Sanhua Intellignt Controls (002050 CH).
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