Global Head of Research & Head of Europe, Lucror Analytics

Felix Fischer

Global Head of Research & Head of Europe

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in September 2024. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan. In addition, we summarise the Top/Bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of our recent research. The Asia Monthly publication serves to keep investors updated on developments in the Asian corporate USD bond market.

  In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in September 2024. We also provide a recap of major news and macroeconomic releases, including those from the US, China, India, Indonesia and Japan.   In addition, we summarise the Top/Bottom performers, recent USD bond issuances and rating actions in Asian corporate credit, as well as a list of our recent research. The Asia Monthly publication serves to keep investors updated on developments in the Asian corporate USD bond market. 

Asia Monthly - September 2024 In Review - Lucror Analytics

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>SOUTHBOUND was a net buyer this week. But who cares. They actually net sold US$2bn of everything which was not <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group Holding (9988 HK)</a>. </li>
<li>Bigger news, of course, was China's "Bazooka" which LOOKS exciting. Stocks are up 15-20% in four days. Lots of BIG numbers are being thrown around. Not everything is "real money."</li>
<li>It takes a little sleuthing to figure out where the real money is. For that, I suggest reading <a href="https://www.smartkarma.com/insights/china-s-maybe-biggish-quasi-bazooka" target="_blank" data-smartkarma-citation="insights:160299" rel="noopener">China's [Maybe] Biggish [Quasi?] Bazooka</a> and more below.</li>
</ul>


SOUTHBOUND was a net buyer this week. But who cares. They actually net sold US$2bn of everything which was not Alibaba Group Holding (9988 HK). 
Bigger news, of course, was China's "Bazooka" which LOOKS exciting. Stocks are up 15-20% in four days. Lots of BIG numbers are being thrown around. Not everything is "real money."
It takes a little sleuthing to figure out where the real money is. For that, I suggest reading China's [Maybe] Biggish [Quasi?] Bazooka and more below.


HK Connect SOUTHBOUND Flows (To 27 Sep 2024); Everything Changed This Week

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 analyzed the latest HK SFC report for aggregate short position as of Sep 20th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in AIA, Angelalign, Kuaishou, China Mobile.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Sep 20th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in AIA, Angelalign, Kuaishou, China Mobile.


HK Short Interest Weekly: AIA, Angelalign, Kuaishou, China Mobile

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>Since the US started sanctioning Huawei in 2017, the China tech giant has maneuvered into many new fields. This time, its HIMA (Huawei Intelligent Mobility Alliance) is showing renewed momentum;</li>
<li>China is the greatest EV market in the world. But what is being masked in the robust growth is the divergence between BEV and PHEV, and Huawei's role in PHEV;</li>
<li>We expect the trend to continue as Chery, JAC and BAIC will launch their HIMA models in 2025. Most importantly, these vendors gain share in the mid-to-high price segments.</li>
</ul>


Since the US started sanctioning Huawei in 2017, the China tech giant has maneuvered into many new fields. This time, its HIMA (Huawei Intelligent Mobility Alliance) is showing renewed momentum;
China is the greatest EV market in the world. But what is being masked in the robust growth is the divergence between BEV and PHEV, and Huawei's role in PHEV;
We expect the trend to continue as Chery, JAC and BAIC will launch their HIMA models in 2025. Most importantly, these vendors gain share in the mid-to-high price segments.


From Huawei with Vengeance: Huawei Alliance Took Shares in Chinese EV

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:<ol><li><a href='/entities/biocon-ltd' target='_blank' rel='noopener'>Biocon Ltd</a></li><li><a href='/entities/yankuang-energy-group' target='_blank' rel='noopener'>Yankuang Energy Group</a></li><li><a href='/entities/wynn-macau-ltd' target='_blank' rel='noopener'>Wynn Macau Ltd</a></li><li><a href='/entities/rakuten-group-inc' target='_blank' rel='noopener'>Rakuten</a></li><li><a href='/entities/china-jinmao-holdings-group' target='_blank' rel='noopener'>China Jinmao Holdings</a></li></ol>and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:Biocon LtdYankuang Energy GroupWynn Macau LtdRakutenChina Jinmao Holdingsand more...

China

Xiaomi Corporation manufactures communication equipment and parts. The Company produces and sells mobile phones, smart phone software,  set-top boxes, and related accessories. Xiaomi markets its products worldwide.

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Xiaomi Corp (1810 HK)

Asia Monthly - September 2024 In Review - Lucror Analytics

In our latest Asia Monthly, we discuss the performance of major Asian credit indices and review UST curve movements in September 2024. We also...

Lucror Analytics

HK Connect SOUTHBOUND Flows (To 27 Sep 2024); Everything Changed This Week

HK SOUTHBOUND Connect flows remain positive, but they remain strong for Alibaba and negative for other tech - particularly Kuaioshou, Meituan, and...

Travis Lundy

HK Short Interest Weekly: AIA, Angelalign, Kuaishou, China Mobile

We analyzed the latest HK SFC report for aggregate short position as of Sep 20th and highlight short interest changes in AIA, Angelalign, Kuaishou,...

Ke Yan, CFA, FRM

From Huawei with Vengeance: Huawei Alliance Took Shares in Chinese EV

Chinese EV market was driven mostly by PHEV in 2023-24 and will continue to be so in 2025. Huawei and partners are gaining share in PHEV in mid-to...

Blue Lotus Research Institute

Weekly Wrap - 27 Sep 2024

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

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