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 the weekly Hong Kong Connect flows with our data engine for holding position as of January 12th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight the weekly Hong Kong connect flows for CNOOC, Tencent.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 12th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight the weekly Hong Kong connect flows for CNOOC, Tencent.


Hong Kong Connect Flows (Jan 12th): CNOOC, Tencent

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jan 5th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Baba, Petrochina, and China Mobile.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jan 5th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Baba, Petrochina, and China Mobile.


HK Short Interest Weekly: Baba, Petrochina, China Mobile

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight inflows into Meituan, CNOOC, PICC P&amp;C, China Mobile, and outflows from Tencent, Xiaomi, HKEx, Wuxi Biologics, CCB.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows into Meituan, CNOOC, PICC P&amp;C, China Mobile, and outflows from Tencent, Xiaomi, HKEx, Wuxi Biologics, CCB.


Hong Kong Connect Flows (December): Six Months of Inflows

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>Risk-Reward now skewed towards reward in the Hong Kong market.</li>
<li>Barbell strategy with both high-beta and lower volatility dividend stocks.</li>
<li>Some initial ideas included to add or start a portfolio  incorporating HK stocks.</li>
</ul>


Risk-Reward now skewed towards reward in the Hong Kong market.
Barbell strategy with both high-beta and lower volatility dividend stocks.
Some initial ideas included to add or start a portfolio  incorporating HK stocks.


2024 High Conviction Idea: The Case for a Rotation Out of Japan into Hong Kong - Part 3

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The New and Better (5mos old) A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.</li>
<li>SOUTHBOUND flows flat/light and NORTHBOUND flows a significant net buy, respectively, but liquid Hs with H/A pairs OUT-perform As on average by 200+bp.</li>
<li>STILL time to go long Hs vs As for the new year. 52wk wide discounts were just last week. Wide A/H premia in renewables space look vulnerable.</li>
</ul>


The New and Better (5mos old) A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.
SOUTHBOUND flows flat/light and NORTHBOUND flows a significant net buy, respectively, but liquid Hs with H/A pairs OUT-perform As on average by 200+bp.
STILL time to go long Hs vs As for the new year. 52wk wide discounts were just last week. Wide A/H premia in renewables space look vulnerable.


A/H Premium Tracker (To 5 Jan 2024):  STAY Long Hs Vs As: A Premia Still Wide, High Div SOEs Moving

Hong Kong

China Mobile Limited provides telecommunication services. The Company offers wireline voice, broadband, roaming, and other related services. China Mobile serves customers in Hong Kong.

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

China Mobile (941 HK)

Hong Kong Connect Flows (Jan 12th): CNOOC, Tencent

Highlight: We analyzed southbound Hong Kong connect flows in the past week and highlight Hong Kong connect flows for CNOOC, Tencent.

Ke Yan, CFA, FRM

HK Short Interest Weekly: Baba, Petrochina, China Mobile

We analyzed the latest HK SFC report for aggregate short position as of Jan 5th and highlight short interest changes in Baba, Petrochina, China...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (December): Six Months of Inflows

We analyzed the Hong Kong Connect Scheme for December and highlight flows for Meituan, CNOOC, PICC P&C, China Mobile, Tencent, Xiaomi, HKEx, Wuxi...

Ke Yan, CFA, FRM

2024 High Conviction Idea: The Case for a Rotation Out of Japan into Hong Kong - Part 3

The Hong Kong market offers a favorable risk-reward ratio, suggesting a barbell strategy with high-beta and low volatility dividend stocks could...

Rikki Malik

A/H Premium Tracker (To 5 Jan 2024): STAY Long Hs Vs As: A Premia Still Wide, High Div SOEs Moving

The first week of the year, the A/H premia on average were flat. On liquid names, Hs slightly underperformed. Very mixed across sectors. Premia...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Hong Kong Connect Flows (Jan 12th): CNOOC, Tencent

Highlight: We analyzed southbound Hong Kong connect flows in the past week and highlight Hong Kong connect flows for CNOOC, Tencent.

Ke Yan, CFA, FRM

HK Short Interest Weekly: Baba, Petrochina, China Mobile

We analyzed the latest HK SFC report for aggregate short position as of Jan 5th and highlight short interest changes in Baba, Petrochina, China...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (December): Six Months of Inflows

We analyzed the Hong Kong Connect Scheme for December and highlight flows for Meituan, CNOOC, PICC P&C, China Mobile, Tencent, Xiaomi, HKEx, Wuxi...

Ke Yan, CFA, FRM

2024 High Conviction Idea: The Case for a Rotation Out of Japan into Hong Kong - Part 3

​The Hong Kong market offers a favorable risk-reward ratio, suggesting a barbell strategy with high-beta and low volatility dividend stocks could...

Rikki Malik

A/H Premium Tracker (To 5 Jan 2024): STAY Long Hs Vs As: A Premia Still Wide, High Div SOEs Moving

The first week of the year, the A/H premia on average were flat. On liquid names, Hs slightly underperformed. Very mixed across sectors. Premia...

Travis Lundy

The Hong Kong market offers a favorable risk-reward ratio, suggesting a barbell strategy with high-beta and low volatility dividend stocks could...