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, again, after a small net sell week broke the 28-week buying streak. This week, over four days, it was +HK$9.3bn.</li>
<li>ETFs were a net buy this week; CCB, ICBC, Meituan, China Mobile, as well as BYD, Nonfu Spring, and ANTA Sports stand out among net buys. Sells were small. </li>
<li>This week sees <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> eligible for SOUTHBOUND buying. And what was supposed to be the HSI/HSCEI/HSTECH rebals Friday are pushed to Monday (link <a href="https://www.smartkarma.com/insights/hang-seng-hscei-hstech-sep24-rebal-final-capping-flows" target="_blank" rel="noopener">here</a>).</li>
</ul>


SOUTHBOUND was a net buyer this week, again, after a small net sell week broke the 28-week buying streak. This week, over four days, it was +HK$9.3bn.
ETFs were a net buy this week; CCB, ICBC, Meituan, China Mobile, as well as BYD, Nonfu Spring, and ANTA Sports stand out among net buys. Sells were small. 
This week sees Alibaba Group Holding (9988 HK) eligible for SOUTHBOUND buying. And what was supposed to be the HSI/HSCEI/HSTECH rebals Friday are pushed to Monday (link here).


HK Connect SOUTHBOUND Flows (To 6 Sep 2024); Weak Data

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 Aug 30th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Trip.Com, Shk Ppt, Anta Sports, Tencent, Baba, CCB, Jd, Meituan.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Aug 30th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Trip.Com, Shk Ppt, Anta Sports, Tencent, Baba, CCB, Jd, Meituan.


HK Short Interest Weekly: Trip.Com, Shk Ppt, Anta Sports, Tencent, Baba, CCB, Jd, Meituan

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 6th 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 Tencent (700 HK), Meituan (3690 HK), AIA (1299 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Meituan (3690 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Sep 6th based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), Meituan (3690 HK), AIA (1299 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Tencent (700 HK), AIA (1299 HK), Meituan (3690 HK).


Hong Kong Buybacks Weekly (Sep 6th): Tencent, Meituan, AIA

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet 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>BABA US/700 HK/WB US/PDD US/JD US/VIPS US:Taobao to launch WeChat Pay support this month (+/+/-/-/-/-)</li>
<li>3690HK: Meituan Plans to Increase Marketing Investment to Support Small and Medium-sized Restaurant Businesses(+)</li>
<li>3690HK: Meituan food delivery and Meituan hotel services launch on Alipay Mini Program(+)</li>
</ul>


BABA US/700 HK/WB US/PDD US/JD US/VIPS US:Taobao to launch WeChat Pay support this month (+/+/-/-/-/-)
3690HK: Meituan Plans to Increase Marketing Investment to Support Small and Medium-sized Restaurant Businesses(+)
3690HK: Meituan food delivery and Meituan hotel services launch on Alipay Mini Program(+)


[Blue Lotus Daily-TMT Update]:BABA US/700 HK/WB US/PDD US/JD US/VIPS US/3690HK/1810 HK

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-tower-corp-ltd" target="_blank" data-smartkarma-citation="entities:27037:1" rel="noopener">China Tower (788 HK)</a> will replace <a href="https://www.smartkarma.com/entities/china-international-capital-corporation-ltd" target="_blank" data-smartkarma-citation="entities:1071:1" rel="noopener">China International Capital Corporation (3908 HK)</a> in the <a href="https://www.smartkarma.com/entities/ishares-china-large-cap-etf" target="_blank" data-smartkarma-citation="entities:766:1" rel="noopener">iShares China Large-Cap (FXI) (FXI US)</a> at the close on 20 September.</li>
<li>The appears to be a lot more positioning and short interest in <a href="https://www.smartkarma.com/entities/china-international-capital-corporation-ltd" target="_blank" data-smartkarma-citation="entities:1071:1" rel="noopener">China International Capital Corporation (3908 HK)</a> compared to <a href="https://www.smartkarma.com/entities/china-tower-corp-ltd" target="_blank" data-smartkarma-citation="entities:27037:1" rel="noopener">China Tower (788 HK)</a>. </li>
<li>The listing of <a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> H-shares could result in another change for the ETF prior to the next scheduled rebalance in December.</li>
</ul>



China Tower (788 HK) will replace China International Capital Corporation (3908 HK) in the iShares China Large-Cap (FXI) (FXI US) at the close on 20 September.
The appears to be a lot more positioning and short interest in China International Capital Corporation (3908 HK) compared to China Tower (788 HK). 
The listing of Midea Group Co Ltd A (000333 CH) H-shares could result in another change for the ETF prior to the next scheduled rebalance in December.


FXI Rebalance: China Tower (788 HK) Will Replace CICC (3908 HK)

China

Meituan operates as a web based shopping platform for locally found consumer products and retail services. The Company offers deals of the day by selling vouchers on local services and entertainment, dining, delivery, and other services. Meituan provides its services throughout China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Meituan (3690 HK)

HK Connect SOUTHBOUND Flows (To 6 Sep 2024); Weak Data

The week before BABA gets SOUTHBOUND flows was weak in HK, but SOUTHBOUND was still a net buyer over the 4-day (typhoon-shortened week).

Travis Lundy

HK Short Interest Weekly: Trip.Com, Shk Ppt, Anta Sports, Tencent, Baba, CCB, Jd, Meituan

We analyzed the latest HK SFC report for aggregate short position as of Aug 30th and highlight short interest changes in Trip.Com, Shk Ppt, Anta...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Sep 6th): Tencent, Meituan, AIA

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

[Blue Lotus Daily-TMT Update]:BABA US/700 HK/WB US/PDD US/JD US/VIPS US/3690HK/1810 HK

Taobao to support WeChat Pay, Meituan increases marketing for small businesses and launches services on Alipay Mini Program.

Blue Lotus Research Institute

FXI Rebalance: China Tower (788 HK) Will Replace CICC (3908 HK)

China Tower will replace CICC in the FXI at the close on 20 Sep. Passives need to buy 2x ADV in China Tower. Cumulative excess volume and short...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HK Connect SOUTHBOUND Flows (To 6 Sep 2024); Weak Data

The week before BABA gets SOUTHBOUND flows was weak in HK, but SOUTHBOUND was still a net buyer over the 4-day (typhoon-shortened week).

Travis Lundy

HK Short Interest Weekly: Trip.Com, Shk Ppt, Anta Sports, Tencent, Baba, CCB, Jd, Meituan

We analyzed the latest HK SFC report for aggregate short position as of Aug 30th and highlight short interest changes in Trip.Com, Shk Ppt, Anta...

Ke Yan, CFA, FRM

Hong Kong Buybacks Weekly (Sep 6th): Tencent, Meituan, AIA

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Tencent (700 HK),...

Ke Yan, CFA, FRM

[Blue Lotus Daily-TMT Update]:BABA US/700 HK/WB US/PDD US/JD US/VIPS US/3690HK/1810 HK

​Taobao to support WeChat Pay, Meituan increases marketing for small businesses and launches services on Alipay Mini Program.

Blue Lotus Research Institute

FXI Rebalance: China Tower (788 HK) Will Replace CICC (3908 HK)

China Tower will replace CICC in the FXI at the close on 20 Sep. Passives need to buy 2x ADV in China Tower. Cumulative excess volume and short...

Brian Freitas

Taobao to support WeChat Pay, Meituan increases marketing for small businesses and launches services on Alipay Mini Program.