Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>SOUTHBOUND flows showing momentum tendencies this past week on a single-stock basis, still. Hs gave up some ground vs As in Week One.</li>
<li>SOUTHBOUND saw HK$14.4bn of net IN-flows in the 4-day week to 5 Jan 2024. Total flows were HK$96bn.</li>
<li>SOUTHBOUND start the year by buying ETFs, high-div SOEs like China Mobile and CNOOC, coal names, and sports/consumer names.</li>
</ul>


SOUTHBOUND flows showing momentum tendencies this past week on a single-stock basis, still. Hs gave up some ground vs As in Week One.
SOUTHBOUND saw HK$14.4bn of net IN-flows in the 4-day week to 5 Jan 2024. Total flows were HK$96bn.
SOUTHBOUND start the year by buying ETFs, high-div SOEs like China Mobile and CNOOC, coal names, and sports/consumer names.


HK Connect SOUTHBOUND Flows (To 5 Jan 2024); High Div SOEs Still Strongly Bought

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 5th.</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 HK Connect flows for China Mobile, and CNOOC.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 5th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight HK Connect flows for China Mobile, and CNOOC.


Hong Kong Connect Flows (Jan 5th): China Mobile, CNOOC

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Dec 22nd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Link Reit, Kuaishou, Ntes, Wuxi Bio.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Dec 22nd.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Link Reit, Kuaishou, Ntes, Wuxi Bio.


HK Short Interest Weekly: Link Reit, Kuaishou, Ntes, Wuxi Bio

HK/China Equity Long-Short

Osbert Tang, CFA

<ul>
<li>It remains possible for the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hang Seng Index (HSI INDEX)</a> to generate a positive return in January 2024, given that historically there is a high 73% probability of doing so.</li>
<li>Over the last eleven years, January was also the best-performing one in five of them. Average return for these five was at 7.7%.</li>
<li>The macroenvironment is also conducive for this pattern to sustain - lower USD rates, rebound in Rmb/USD exchange rate, and more supportive measures from the Chinese government.</li>
</ul>


It remains possible for the Hang Seng Index (HSI INDEX) to generate a positive return in January 2024, given that historically there is a high 73% probability of doing so.
Over the last eleven years, January was also the best-performing one in five of them. Average return for these five was at 7.7%.
The macroenvironment is also conducive for this pattern to sustain - lower USD rates, rebound in Rmb/USD exchange rate, and more supportive measures from the Chinese government.


China Strategy: Are We Still Going to Have January Effect in 2024?

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Dec 15th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Techtronic Ind, Link Reit, Jd, HSBC, Wuxi Bio, East Buy.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Dec 15th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Techtronic Ind, Link Reit, Jd, HSBC, Wuxi Bio, East Buy.


HK Short Interest Weekly: Techtronic Ind, Link Reit, Jd, HSBC, Wuxi Bio, East Buy

United Kingdom

HSBC Holdings plc is the holding company for the HSBC Group. The Company provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance.  The Group operates worldwide.

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HSBC Holdings (5 HK)

HK Connect SOUTHBOUND Flows (To 5 Jan 2024); High Div SOEs Still Strongly Bought

Strong net buying in the first week of the year by SOUTHBOUND investors in HK Connect. Big buys in ETFs (they go back and forth every week), China...

Travis Lundy

Hong Kong Connect Flows (Jan 5th): China Mobile, CNOOC

We analyzed southbound Hong Kong connect flows in the past week and highlight Hong Kong connect flows for China Mobile, CNOOC.

Ke Yan, CFA, FRM

HK Short Interest Weekly: Link Reit, Kuaishou, Ntes, Wuxi Bio

We analyzed the latest HK SFC report for aggregate short position as of Dec 22nd and highlight short interest changes in Link Reit, Kuaishou, Ntes,...

Ke Yan, CFA, FRM

China Strategy: Are We Still Going to Have January Effect in 2024?

China's industrial profit growth accelerated to 29.5% YoY in Nov, from just a 2.7% increase in Oct, suggesting initial impacts from the series of...

Osbert Tang, CFA

HK Short Interest Weekly: Techtronic Ind, Link Reit, Jd, HSBC, Wuxi Bio, East Buy

We analyzed the latest HK SFC report for aggregate short position as of Dec 15th and highlight short interest changes in Techtronic Ind, Link Reit,...

Ke Yan, CFA, FRM

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