Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Bottom-Up

<ul>
<li>Hong Kong market breadth stays strong despite market pullback in November.  Mainland investors continue to increase exposure to HK market through Southbound Connect platform.</li>
<li>
<a href="https://www.smartkarma.com/entities/baidu-inc-a55ca720-5968-48f0-8194-ac94390d065c" target="_blank" data-smartkarma-citation="entities:32212:1" rel="noopener">Baidu (9888 HK)</a> , <a href="https://www.smartkarma.com/entities/baidu-inc" target="_blank" data-smartkarma-citation="entities:179:1" rel="noopener">Baidu (BIDU US)</a> , the global leader in Robotaxis, was granted a license to start operating its autonomous cars in Hong Kong.
</li>
<li>
<a href="https://www.smartkarma.com/entities/vitasoy-intl-holdings-ltd" target="_blank" data-smartkarma-citation="entities:2807:1" rel="noopener">Vitasoy Intl Holdings (345 HK)</a> shares surged on takeover rumours after <a href="https://www.smartkarma.com/entities/yeo-hiap-seng-ltd" target="_blank" data-smartkarma-citation="entities:9051:1" rel="noopener">Yeo Hiap Seng (YHS SP)</a> increased its stake to more than 12% allowing them to call a Board meeting.
</li>
</ul>


Hong Kong market breadth stays strong despite market pullback in November.  Mainland investors continue to increase exposure to HK market through Southbound Connect platform.

Baidu (9888 HK) , Baidu (BIDU US) , the global leader in Robotaxis, was granted a license to start operating its autonomous cars in Hong Kong.


Vitasoy Intl Holdings (345 HK) shares surged on takeover rumours after Yeo Hiap Seng (YHS SP) increased its stake to more than 12% allowing them to call a Board meeting.



The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (December 2)

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

Cross Asset Strategy

<ul><li>EVs / Cover Story: Baidu-Geely joint EV failure reflects treacherousness of Chinese market</li><li>Central bank /Exclusive: Singapore’s central bank chief on crypto, AI and battling inflation</li><li>Outlook /: Four things to know about China’s 2025 economic outlook</li></ul>

EVs / Cover Story: Baidu-Geely joint EV failure reflects treacherousness of Chinese marketCentral bank /Exclusive: Singapore’s central bank chief on crypto, AI and battling inflationOutlook /: Four things to know about China’s 2025 economic outlook

CX Daily: Baidu-Geely Joint EV Failure Reflects Treacherousness of Chinese Market 

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Event-Driven

<ul>
<li>Communication Services had 39% of single stock option volumes vs only 22% of the open interest highlighting short expiry / speculative nature of trading.</li>
<li>Tencent and Baidu heading in opposite directions – Baidu vol on the inexpensive side vs Tencent vol.</li>
<li>Xiaomi one of only 2 optionable names trading at 52-week high (Sunny optical being the other).</li>
</ul>


Communication Services had 39% of single stock option volumes vs only 22% of the open interest highlighting short expiry / speculative nature of trading.
Tencent and Baidu heading in opposite directions – Baidu vol on the inexpensive side vs Tencent vol.
Xiaomi one of only 2 optionable names trading at 52-week high (Sunny optical being the other).


EQD | Hong Kong Single Stock Options Weekly December 16 – 20

<ul>
<li>Onshore Equity ETF flows in China continued to be positive for 8th week. Southbound Connect flows in July are lower than June.</li>
<li>Baidu, Bilibili and GDS have had positive share price moves on the back of news flow.</li>
<li>The container shipping segment has had a sharp pullback on positive Middle East news and cement maker CNBM flags a loss in the first half.</li>
</ul>


Onshore Equity ETF flows in China continued to be positive for 8th week. Southbound Connect flows in July are lower than June.
Baidu, Bilibili and GDS have had positive share price moves on the back of news flow.
The container shipping segment has had a sharp pullback on positive Middle East news and cement maker CNBM flags a loss in the first half.


The Heat Is On: News Flow and Sentiment China/Hong Kong (July 12)

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

<ul>
<li>PCAOB officials concluded their Hong Kong visit last month and PCAOB is due to announce its annual judgment on whether it had adequate access to US listed China companies.</li>
<li>The Hong Kong visit was on the back of the 26th Aug 2022 announcement by PCAOB and CSRC that they had entered into an agreement with US authorities for access.</li>
<li>In this note, we'll talk about the latest developments, possible outcomes and implications.</li>
</ul>


PCAOB officials concluded their Hong Kong visit last month and PCAOB is due to announce its annual judgment on whether it had adequate access to US listed China companies.
The Hong Kong visit was on the back of the 26th Aug 2022 announcement by PCAOB and CSRC that they had entered into an agreement with US authorities for access.
In this note, we'll talk about the latest developments, possible outcomes and implications.


China ADRs Delisting - Friday Could Be Judgment Day for over US$800bn Mcap of Stocks

China

Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, news, MP3, and image searches, voice assistance, online storage, and navigation services. Baidu serves clients globally.

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Baidu (9888 HK)

The Heat Is On: News Flow and Sentiment in CHINA / HONG KONG (December 2)

Hong Kong market breadth is high as mainland investors continue buy HK shares. Baidu, the largest Robotaxi operator was granted license to operate...

David Mudd

CX Daily: Baidu-Geely Joint EV Failure Reflects Treacherousness of Chinese Market

EVs / Cover Story: Baidu-Geely joint EV failure reflects treacherousness of Chinese market Ji Yue Auto — an electric vehicle (EV) startup backed...

Caixin Global

EQD | Hong Kong Single Stock Options Weekly December 16 – 20

Tencent and Baidu showing contrasting price and volatility levels with Baidu implied vol looking relatively inexpensive. Xiaomi stands out as one...

John Ley

The Heat Is On: News Flow and Sentiment China/Hong Kong (July 12)

ETF flows in China have continued to support the overall A share market while Southbound Connect flows support Hong Kong shares. Positive news for...

David Mudd

China ADRs Delisting - Friday Could Be Judgment Day for over US$800bn Mcap of Stocks

PCAOB officials concluded their Hong Kong visit last month and PCAOB is due to announce its annual judgment on whether it had adequate access to US...

Sumeet Singh

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