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 (2Wks to 31 Dec 2025):  Hs Underperform Again, Beautiful Skew Behaving Badly

HK Connect SOUTHBOUND Flows (2Wks To 16 Jan 2026) - China Mobile Sold Heavily, Tech Bought Heavily

A/H Premium Tracker (2Wks to 16 Jan 2026):  Spreads Bouncy but ~Flat on Net, Quiddity Port 👍

HK Connect SOUTHBOUND Flows (Wk To 19 Dec 2025) - Lower Activity, Net Buying, but High-Div SOEs Sold

HK Connect SOUTHBOUND Flows (Wk To 12 Dec 2025) - Lower Activity, Net Sell This Week,

HK Connect SOUTHBOUND Flows (2Wks To 5 Dec 2025) - Lower Activity, Lower Nets, BABA Still Bought

Quiddity Advisors

Event-Driven

<ul>
<li>HK$82bn+/Day of gross SOUTHBOUND activity last week vs HK$90+bn the week before. Gross flows are winding down. Net rebounded to +HK$16bn.</li>
<li>Relatively high div low vol SOEs were net sold. Again. This is getting heavy. It matters because some have less international buying support (they are Trump military names).</li>
<li>The data tables below update daily 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 Pairs Monitor</a> are both there - free - for all SK readers.</li>
</ul>


HK$82bn+/Day of gross SOUTHBOUND activity last week vs HK$90+bn the week before. Gross flows are winding down. Net rebounded to +HK$16bn.
Relatively high div low vol SOEs were net sold. Again. This is getting heavy. It matters because some have less international buying support (they are Trump military names).
The data tables below update daily in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there - free - for all SK readers.


Industrial and Commercial Bank of China (1398 HK)

SMIC (Semiconductor Manufacturing International Corp) (981 HK)

SMIC (Semiconductor Manufacturing International Corp)

HK Connect SOUTHBOUND Flows (2Wks To 2 Jan 2026) - Heavier Gross, Lighter Net, Bank Buys, 941 Sells

Tencent

HK Connect SOUTHBOUND Flows (2Wks To 2 Jan 2026) - Heavier Gross, Lighter Net, Bank Buys, 941 Sells