Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac ECM and Index Rebal

MiniMax (100 HK): Wait Until Competitors' and Its Own Shares Are Tradable

HSI Index Earning Revision (Feb): PING AN INSURANCE, ALIBABA, MEITUAN, TENCENT, CSPC Pharma, HSBC

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Event-Driven

<ul>
<li>P removal confirmed. HKEX approved MiniMax's reclassification in 11 days, the fastest observed under Chapter 18A or 18C.</li>
<li>Index pathway. Base case: HSCI fast entry in June 2026, HSI in September. Bear case: both in September.</li>
<li>Lock-Up and supply overhang. Major unlocks in July increase tradable supply. Impact on index free float depends on HSIL’s classification of unlocked investors.</li>
</ul>


P removal confirmed. HKEX approved MiniMax's reclassification in 11 days, the fastest observed under Chapter 18A or 18C.
Index pathway. Base case: HSCI fast entry in June 2026, HSI in September. Bear case: both in September.
Lock-Up and supply overhang. Major unlocks in July increase tradable supply. Impact on index free float depends on HSIL’s classification of unlocked investors.


MINIMAX-W: P Removal Confirmed; HSCI / HK Connect Fast Entry Possible in June