Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

A/H Premium Tracker (To 20 June 2025):  Skew Move Continues as SB Buys But AH Premia Rise

A/H Premium Tracker (To 27 June 2025):  "Beautiful Skew" Continues as SB Buys, AH Premia Fall Back

A/H Premium Tracker (To 4 July 2025):  "Beautiful Skew" Continues as SB Buys Wide Spread Hs

A/H Premium Tracker (To 6 June 2025):  Narrow Premia Hs Worst Performers, BYD Relents

HK Connect SOUTHBOUND Flows (To 6 June 2025); Volumes Up, Tech Down, ENERGY Bought Big

A/H Premium Tracker (To 30 May 2025):  Narrow Premia Hs Worst Performers, BYD Relents

Quiddity Advisors

Event-Driven

Guangzhou Automobile Group / Event-Driven

<ul>
<li>AH spreads are SHARPLY narrower. The effect is dramatic across the "skew" i.e. very wide AH premia contracted more than very narrow premia. BYD is on its own.</li>
<li>This smells very much like someone knows something. I expect RMB dual counters may be in the works. Caixin had an <a href="https://www.caixinglobal.com/2025-06-13/cx-briefing-yuan-trading-of-hong-kong-stocks-expected-for-mainland-investors-102330224.html" target="_blank" rel="noopener">article</a> Friday.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">SOUTHBOUND Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Monitor</a> are both there free for SK readers.</li>
</ul>


AH spreads are SHARPLY narrower. The effect is dramatic across the "skew" i.e. very wide AH premia contracted more than very narrow premia. BYD is on its own.
This smells very much like someone knows something. I expect RMB dual counters may be in the works. Caixin had an article Friday.
The data tables below update on a daily basis in the Tools section of Smartkarma. The SOUTHBOUND Flow Monitor and AH Monitor are both there free for SK readers.


Guangzhou Baiyunshan Pharmaceutical Holdings (874 HK)

Guangzhou Baiyunshan Pharmaceutical Holdings

Shanghai Haohai Biological Technology (6826 HK)

China Railway Signal & Communication (3969 HK)

A/H Premium Tracker (To 13 June 2025):  HUGE H-Share Outperf Across The Board, "Beautiful Skew Move"