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

Northbound Flows (1Q2026): CATL, CATL, ZHONGJI INNOLIGHT, ZHONGJI INNOLIGHT

Asia Equities: Model Portfolio Changes - More to Chinese EV Supply Chain, Less to AI Losers

Asian Equities: The Earnings Juggernaut Is Rolling on and Getting Broad-Based

Northbound Flows (2Q2025): Catl, Moutai, Midea, Jiangsu Hengrui Medicine

Northbound Flows (1Q2025): BYD, Naura Technology, Cmb, Yangtze Power, Weichai Power

Northbound Flows (4Q2023): $20bn Outflows in 4Q

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.

Quantitative Analysis

China Industrials / Quantitative Analysis

<ul>
<li>We analyze the 4Q2025 Shanghai/Shenzhen northbound Connect flows with our data engine as the exchange changed the rule to only disclose north bound position once a quarter.</li>
<li>We estimate that the inflows in 4Q2025 were US$1,590 million and holdings were US$368 billion.</li>
<li>We highlight flows for CATL, CATL, Moutai, Moutai, Luxshare Precision, Luxshare Precision, WEICHAI POWER, WEICHAI POWER, WUXI APPTEC, WUXI APPTEC, BYD, CMB, Mindray, EAST MONEY INFORMATION.</li>
</ul>


We analyze the 4Q2025 Shanghai/Shenzhen northbound Connect flows with our data engine as the exchange changed the rule to only disclose north bound position once a quarter.
We estimate that the inflows in 4Q2025 were US$1,590 million and holdings were US$368 billion.
We highlight flows for CATL, CATL, Moutai, Moutai, Luxshare Precision, Luxshare Precision, WEICHAI POWER, WEICHAI POWER, WUXI APPTEC, WUXI APPTEC, BYD, CMB, Mindray, EAST MONEY INFORMATION.


Anhui Huilong Agrcl Mns Of Prdn (002556 CH)

Beijing New Building Materials (000786 CH)

Shenzhen Inovance Technology Co., (300124 CH)

Contemporary Amperex Technology (CATL) (300750 CH)

Shenzhen Mindray Bio-Medical Electronics (300760 CH)

Shenzhen New Industries Biomedical Engineering-A (300832 CH)

Shenzhen New Industries Biomedical Engineering-A

Milkyway Chemical Supply Chain (603713 CH)

Shandong Weigao Orthopaedic De (688161 CH)

Fortior Technology (Shenzhen) (688279 CH)

Northbound Flows (4Q2025): CATL, CATL, Moutai, Moutai, Luxshare Precision, Luxshare Precision