Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 24th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Great Wall Motor (2333 HK), Ck Asset (1113 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Great Wall Motor (2333 HK), Ck Asset (1113 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 24th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Great Wall Motor (2333 HK), Ck Asset (1113 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Great Wall Motor (2333 HK), Ck Asset (1113 HK).


Hong Kong Buybacks: AIA, Great Wall Motor, CK Asset

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 10th based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Ck Asset Holdings(1113 HK), China Conch Venture (586 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Jd Health International (6618 HK), Esr Cayman (1821 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Jun 10th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Ck Asset Holdings(1113 HK), China Conch Venture (586 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Aia (1299 HK), Jd Health International (6618 HK), Esr Cayman (1821 HK).


Hong Kong Buybacks: AIA, CK Asset, China Conch

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Thematic (Sector/Industry)

<ul>
<li>There are signs that a base has been building in Real Estate allocations, and that sentiment is starting to stabilise.</li>
<li>Average weights in the Real Estate sector ticked higher by 0.25% and 5.43% of managers moved to overweight, closing the net underweight by 0.22%.</li>
<li>Central Pattana Pub (CPN TB), China Resources Mixc Lifestyle Services (1209 HK) and Capitaland (CAPL SP) were beneficiaries of recent inflows</li>
</ul>


There are signs that a base has been building in Real Estate allocations, and that sentiment is starting to stabilise.
Average weights in the Real Estate sector ticked higher by 0.25% and 5.43% of managers moved to overweight, closing the net underweight by 0.22%.
Central Pattana Pub (CPN TB), China Resources Mixc Lifestyle Services (1209 HK) and Capitaland (CAPL SP) were beneficiaries of recent inflows


Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<a href="https://www.smartkarma.com/entities/wh-group-ltd" target="_blank" data-smartkarma-citation="entities:13200:1" rel="noopener">WH Group (288 HK)</a> will see its Tender Offer completed on Monday 30 August. I expect the result will be out as per the 30 July Circular - at 7pm HKT. Then we wait. And things get a little weird and possibly a little bumpy this week. And into the week after...But we wait anyway. More below the fold. <hr><table class="table table-striped">
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<tbody>
<tr><td colspan="3" style="text-align: left; width: 535pt;"><h3>Insights on This WH Group Event To Date</h3></td></tr>
<tr>
<td style="text-align: center;">Date</td>
<td style="text-align: center;">Author</td>
<td>Title</td>
</tr>
<tr>
<td style="text-align: center;">02-Jun-21</td>
<td style="text-align: center;"><a href="https://www.smartkarma.com/profiles/david-blennerhassett" target="_blank" rel="noopener">David B</a></td>
<td><a href="https://www.smartkarma.com/insights/wh-group-288-hk-today-s-pig-is-tomorrow-s-bacon" target="_blank" data-smartkarma-citation="insights:52429" rel="noopener">WH Group (288 HK): Today's Pig Is Tomorrow's Bacon? </a></td>
</tr>
<tr>
<td style="text-align: center;">06-Jun-21</td>
<td style="text-align: center;"><a href="https://www.smartkarma.com/profiles/travis-lundy/insights" target="_blank" rel="noopener">myself</a></td>
<td><a href="https://www.smartkarma.com/insights/wh-group-buyback-offer-announced-strong-accretion-creates-accretion-risk" target="_blank" data-smartkarma-citation="insights:52613" rel="noopener">WH Group Buyback Offer Announced - Strong Accretion Creates Accretion Risk </a></td>
</tr>
<tr>
<td style="text-align: center;">20-Jun-21</td>
<td style="text-align: center;">myself</td>
<td><a href="https://www.smartkarma.com/insights/wh-group-vs-peers-too-many-piggies-going-to-market" target="_blank" data-smartkarma-citation="insights:53217" rel="noopener">WH Group Vs Peers - Too Many Piggies Going to Market? </a></td>
</tr>
<tr>
<td style="text-align: center;">05-Jul-21</td>
<td style="text-align: center;">myself</td>
<td><a href="https://www.smartkarma.com/insights/wh-group-trading-opportunities-abound" target="_blank" data-smartkarma-citation="insights:54016" rel="noopener">WH Group - Trading Opportunities Abound </a></td>
</tr>
<tr>
<td style="text-align: center;">10-Jul-21</td>
<td style="text-align: center;">myself</td>
<td><a href="https://www.smartkarma.com/insights/wh-group-long-only-fundamental-investors-can-take-advantage-too" target="_blank" data-smartkarma-citation="insights:54223" rel="noopener">WH Group - Long-Only Fundamental Investors Can Take Advantage Too </a></td>
</tr>
<tr>
<td style="text-align: center;">30-Jul-21</td>
<td style="text-align: center;">myself</td>
<td><a href="https://www.smartkarma.com/insights/wh-group-offer-doc-out-this-little-piggy-went-to-market" target="_blank" data-smartkarma-citation="insights:55210" rel="noopener">WH Group Offer Doc Out - This Little Piggy Went To Market </a></td>
</tr>
<tr>
<td style="text-align: center;">17-Aug-21</td>
<td style="text-align: center;">myself</td>
<td><a href="https://www.smartkarma.com/insights/wh-group-partial-buyback-offer-now-unconditional" target="_blank" data-smartkarma-citation="insights:56210" rel="noopener">WH Group Partial Buyback Offer Now Unconditional </a></td>
</tr>
<tr>
<td style="text-align: center;">18-Aug-21</td>
<td style="text-align: center;">myself</td>
<td><a href="https://www.smartkarma.com/insights/wh-group-stock-plummets-as-ousted-son-drags-pigs-into-the-mud" target="_blank" data-smartkarma-citation="insights:56282" rel="noopener">WH Group - Stock Plummets as Ousted Son Drags Pigs Into The Mud </a></td>
</tr>
</tbody>
</table>

WH Group (288 HK) will see its Tender Offer completed on Monday 30 August. I expect the result will be out as per the 30 July Circular - at 7pm HKT. Then we wait. And things get a little weird and possibly a little bumpy this week. And into the week after...But we wait anyway. More below the fold. 






Insights on This WH Group Event To Date

Date
Author
Title


02-Jun-21
David B
WH Group (288 HK): Today's Pig Is Tomorrow's Bacon? 


06-Jun-21
myself
WH Group Buyback Offer Announced - Strong Accretion Creates Accretion Risk 


20-Jun-21
myself
WH Group Vs Peers - Too Many Piggies Going to Market? 


05-Jul-21
myself
WH Group - Trading Opportunities Abound 


10-Jul-21
myself
WH Group - Long-Only Fundamental Investors Can Take Advantage Too 


30-Jul-21
myself
WH Group Offer Doc Out - This Little Piggy Went To Market 


17-Aug-21
myself
WH Group Partial Buyback Offer Now Unconditional 


18-Aug-21
myself
WH Group - Stock Plummets as Ousted Son Drags Pigs Into The Mud 




WH Group Post-Tender Outlook - Index Selldown and Back-End Trading/Valuations

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

The Hang Seng, EURO STOXX 50, MSCI ACWI ex-US, and MSCI EAFE display bearish short-term inflections. Additionally, 10-year yields in the US and Germany are breaking down below key support. These deteriorating market dynamics raise concerns of a deeper pullback, however other indicators remain largely positive. As a result, we continue to see a mixed, but overall constructive market. Actionable themes highlighted in today's report include Health Care and Real Estate.

The Hang Seng, EURO STOXX 50, MSCI ACWI ex-US, and MSCI EAFE display bearish short-term inflections. Additionally, 10-year yields in the US and Germany are breaking down below key support. These deteriorating market dynamics raise concerns of a deeper pullback, however other indicators remain largely positive. As a result, we continue to see a mixed, but overall constructive market. Actionable themes highlighted in today's report include Health Care and Real Estate.

Global Equity Strategy: Mixed Market Environment Continues As Yields Break Down

Hong Kong

CK Asset Holdings Limited operates real estate businesses. The Company provides real estate development, leasing, marketing, property management, and hotel serviced suite services domestically and internationally. CK Asset Holdings also operates real estate investment trust, aircraft leasing, and assets management businesses.

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CK Asset Holdings (1113 HK)

Hong Kong Buybacks: AIA, Great Wall Motor, CK Asset

We highlight the top 3 companies that repurchased the most shares from the market in the last 7 days: Aia (1299 HK), Great Wall Motor (2333 HK), Ck...

Ke Yan, CFA, FRM

Hong Kong Buybacks: AIA, CK Asset, China Conch

We highlight the top 3 companies that repurchased the most shares from the HK market last week were Aia (1299 HK), Ck Asset Holdings(1113 HK),...

Ke Yan, CFA, FRM

Asia Real Estate: Early Stage Recovery

There are signs that a base has been building in Real Estate allocations, and that sentiment is starting to stabilise among active Asia Ex-Japan...

Steven Holden

WH Group Post-Tender Outlook - Index Selldown and Back-End Trading/Valuations

WH Group Partial Buy Back Offer Closes 30 Aug. Results will be out 30 August. The returned shares will not come back until NEXT week but indices...

Travis Lundy

Global Equity Strategy: Mixed Market Environment Continues As Yields Break Down

The Hang Seng, EURO STOXX 50, MSCI ACWI ex-US, and MSCI EAFE display bearish short-term inflections and 10-year yields in the US and Germany are...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)