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 Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of December 16th.</li>
<li>We estimate the weekly inflows to be US$101.5 million, led by financials, consumer staples, communication services sectors, and offset by industrials, materials.</li>
<li>We highlight flows for China Merchants Bank, Shanghai Intl Airport, Tongwei.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of December 16th.
We estimate the weekly inflows to be US$101.5 million, led by financials, consumer staples, communication services sectors, and offset by industrials, materials.
We highlight flows for China Merchants Bank, Shanghai Intl Airport, Tongwei.


Northbound Flows (Dec 16th): CMB, Shanghai Intl Airport, Tongwei

<ul>
<li>We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.</li>
<li>Consumer Staples ($4,362m of outflows) and financials ($1,929m of outflows) led the outflows in October.</li>
<li>We highlight inflows into Tianqi Lithium, BOE Technology, and outflows from Moutai, Ping An Bank/Insurance, Wulianye, Yili.</li>
</ul>


We analyze the monthly Shanghai/Shenzhen northbound Connect flows with our data engine.
Consumer Staples ($4,362m of outflows) and financials ($1,929m of outflows) led the outflows in October.
We highlight inflows into Tianqi Lithium, BOE Technology, and outflows from Moutai, Ping An Bank/Insurance, Wulianye, Yili.


Northbound Flows Monthly (September): One Year High Outflows of $8.3bn

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of October 14th.</li>
<li>We estimate the weekly outflows to be US$886.9 million, led by consumer staples, financials, and offset by communication services, industrials, health care.</li>
<li>We highlight flows for CATL, Gigadevice, Moutai, Wuliangye, Tongwei, CMB, Advanced Micro-Fabrication Equipment (AMEC).</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of October 14th.
We estimate the weekly outflows to be US$886.9 million, led by consumer staples, financials, and offset by communication services, industrials, health care.
We highlight flows for CATL, Gigadevice, Moutai, Wuliangye, Tongwei, CMB, Advanced Micro-Fabrication Equipment (AMEC).


Northbound Flows (Oct 14th): Moutai, Wuliangye, Tongwei, CMB, AMEC

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Thematic (Sector/Industry)

<ul><li>The U.S government’s escalated chip export restrictions has triggered a sell-off of onshore Chinese semiconductor stocks as they are expected to prevent domestic chip manufacturers and designers from accessing key components.</li><li><p>The Biden administration issued a series of policies last week aimed at slowing Beijing’s push to develop its own chip industry, adding more companies to a trade blacklist and imposing new restrictions on related technologies.</p></li><li><p>The action is expected to dent production at China’s domestic semiconductor foundries, which rely on U.S. companies for some components, industry insiders said.</p></li></ul>

The U.S government’s escalated chip export restrictions has triggered a sell-off of onshore Chinese semiconductor stocks as they are expected to prevent domestic chip manufacturers and designers from accessing key components.The Biden administration issued a series of policies last week aimed at slowing Beijing’s push to develop its own chip industry, adding more companies to a trade blacklist and imposing new restrictions on related technologies.The action is expected to dent production at China’s domestic semiconductor foundries, which rely on U.S. companies for some components, industry insiders said.

Chinese Semiconductor Stocks Nosedive as U.S. Tightens Chip Export Controls

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

<ul>
<li>Last week we noted that the bullish reversals had begun, with the MSCI ACWI (ACWI-US), STOXX Europe 50, and SPX the first few to reverse topside their 4-month downtrends.</li>
<li>As we discuss below, bullish reversals are proliferating globally, something that continues to support our belief that global equities are bottoming.</li>
<li>Global growth Sectors continue to gain momentum and have emerged as leadership -- overweight growth. Sectors covered today include Technology, Consumer Discretionary, and Industrials -- add exposure</li>
</ul>


Last week we noted that the bullish reversals had begun, with the MSCI ACWI (ACWI-US), STOXX Europe 50, and SPX the first few to reverse topside their 4-month downtrends.
As we discuss below, bullish reversals are proliferating globally, something that continues to support our belief that global equities are bottoming.
Global growth Sectors continue to gain momentum and have emerged as leadership -- overweight growth. Sectors covered today include Technology, Consumer Discretionary, and Industrials -- add exposure


Bullish Reversals Proliferate; Stick With Growth; Buy Ideas in Tech, Discretionary, & Industrials

China

Advanced Micro-Fabrication Equipment Inc. China manufactures micro-fabrication equipment. The Company researches, develops, produces, and sells semiconductor equipment. Advanced Micro-Fabrication Equipment China provides its products for semiconductor and adjacent high technology industries.

Advanced Micro-Fabrication Equ (688012 CH)

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Advanced Micro-Fabrication Equ (688012 CH)

Northbound Flows (Dec 16th): CMB, Shanghai Intl Airport, Tongwei

We analyzed the Shanghai/Shenzhen Connect Scheme for last week and highlight flows for CMB, Shanghai Intl Airport, Tongwei.

Ke Yan, CFA, FRM

Northbound Flows Monthly (September): One Year High Outflows of $8.3bn

We analyzed the Shanghai/Shenzhen Connect Scheme for October and highlight flows for Tianqi Lithium, BOE Technology, Moutai, Ping An Bank...

Ke Yan, CFA, FRM

Northbound Flows (Oct 14th): Moutai, Wuliangye, Tongwei, CMB, AMEC

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for CATL, Gigadevice, Moutai, Wuliangye, Tongwei, CMB,...

Ke Yan, CFA, FRM

Chinese Semiconductor Stocks Nosedive as U.S. Tightens Chip Export Controls

The U.S government’s escalated chip export restrictions has triggered a sell-off of onshore Chinese semiconductor stocks

Caixin Global

Bullish Reversals Proliferate; Stick With Growth; Buy Ideas in Tech, Discretionary, & Industrials

Bullish reversals begun last week in $ACWI, $SPX, and $STOXX Europe 50, with each reversing topside their 4-month downtrends. Now, bullish...

Vermilion Research

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