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 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 11 July 2025):  "Beautiful Skew" Continues - BIG AH Premia Compression

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

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

Quiddity Advisors

Event-Driven

<ul>
<li>AH premia bounce back last week but the "skew" of wide premia converging and narrow premia moving wider continues. It has paid to be long wide H discounts.</li>
<li>The previous week smelled like an RMB counter trade was being set up, "confirmed" by a Caixin article the weekend. The HKEX "confirmation" this past week, well, maybe wasn't one.</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. Technical issue delayed this week's Monitor.</li>
</ul>


AH premia bounce back last week but the "skew" of wide premia converging and narrow premia moving wider continues. It has paid to be long wide H discounts.
The previous week smelled like an RMB counter trade was being set up, "confirmed" by a Caixin article the weekend. The HKEX "confirmation" this past week, well, maybe wasn't one.
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. Technical issue delayed this week's Monitor.


Guangzhou Baiyunshan Pharmaceutical Holdings (874 HK)

Guangzhou Baiyunshan Pharmaceutical Holdings

China Railway Signal & Communication (3969 HK)

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

Great Wall Motor

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