Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Luxshare Precision Industry / Event-Driven

<ul>
<li>The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.</li>
<li>Last week saw NORTHBOUND net BUY RMB +15.9bn of A-shares. NORTHBOUND bought Financials, Industry, Infotech, etc. They sold Communications (which was a HUGE SOUTHBOUND buy) and Pharma/Healthcare.</li>
<li>It is notable that net flows as a percentage of value traded are clearly "short gamma", which is to say, sector underperformers are being sold, sector outperformers being bought.</li>
</ul>


The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
Last week saw NORTHBOUND net BUY RMB +15.9bn of A-shares. NORTHBOUND bought Financials, Industry, Infotech, etc. They sold Communications (which was a HUGE SOUTHBOUND buy) and Pharma/Healthcare.
It is notable that net flows as a percentage of value traded are clearly "short gamma", which is to say, sector underperformers are being sold, sector outperformers being bought.


Mainland Connect NORTHBOUND Flows (To 12 July 2024): Finance, Industry, Infotech 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 Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 12th.</li>
<li>We estimate the weekly inflows to be US$2,168.8 million, led by financials, information technology, utilities sectors, and offset by health care, communication services, energy.</li>
<li>We highlight flows for Moutai, Yangtze Power, Ping An Insurance, Cosco Shipping, CNNP.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 12th.
We estimate the weekly inflows to be US$2,168.8 million, led by financials, information technology, utilities sectors, and offset by health care, communication services, energy.
We highlight flows for Moutai, Yangtze Power, Ping An Insurance, Cosco Shipping, CNNP.


Northbound Flows (Jul 12th): Moutai, Yangtze Power, Ping An Insurance, Cosco Shipping, CNNP

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Bottom-Up

<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)

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

China Resources Pharmaceutical / Event-Driven

<ul>
<li>In this insight, we take a look at a group of names with reasonably high likelihood of being involved in index changes for the Hang Seng Index in September 2024.</li>
<li>The index changes for the September 2024 index rebal will be announced on 16th August 2024.</li>
<li>The HSI selection process is highly subjective and does not follow clear-cut rules. This insight is simply an attempt to provide readers with an overall understanding of the possible scenarios.</li>
</ul>


In this insight, we take a look at a group of names with reasonably high likelihood of being involved in index changes for the Hang Seng Index in September 2024.
The index changes for the September 2024 index rebal will be announced on 16th August 2024.
The HSI selection process is highly subjective and does not follow clear-cut rules. This insight is simply an attempt to provide readers with an overall understanding of the possible scenarios.


Quiddity Leaderboard for Hang Seng Index Sep 24: New Economy? Clean Energy? or Shipping?

<ul>
<li>We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 28th.</li>
<li>We estimate the weekly outflows to be US$1,763.0 million, led by information technology, consumer staples, consumer discretionary, and offset by utilities.</li>
<li>We highlight flows for Foxconn Industrial Internet, Zhejiang Sanhua Intelligent Controls, Wanhua Chemical, BYD.</li>
</ul>


We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of June 28th.
We estimate the weekly outflows to be US$1,763.0 million, led by information technology, consumer staples, consumer discretionary, and offset by utilities.
We highlight flows for Foxconn Industrial Internet, Zhejiang Sanhua Intelligent Controls, Wanhua Chemical, BYD.


Northbound Flows (Jun 28th): Foxconn Industrial Internet, Wanhua Chemical, BYD

China

COSCO SHIPPING Energy Transportation Co., Ltd. offers marine shipping services. The Company provides refined oil transportation, crude oil transportation, and other services. COSCO SHIPPING Energy Transportation also ships iron ores, dry bulks, coal, and other products.

Cosco Shipping Energy Transportation Co. Ltd. (H) (1138 HK)

Cosco Shipping Energy Transportation Co. Ltd. (H)

Cosco Shipping Development Co., Ltd is a container shipping company based in China.  The Company owns, charters, and operates container vessels for the provision of international and domestic container marine transportation services.

Hainan Strait Shipping Co., Ltd. offers domestic coastal passenger and cargo marine transportation services.

Cosco Shipping Specialised Carriers Co. provides marine and coastal freight transportation services.  The Company also operates in wholesale and retail trading, acts as a shipping agency, as well as provides loading and unloading, storage, and labor services.

Cosco Shipping Specialised Carriers  (600428 CH)

Bohai Ferry Company Limited is a passenger liner transportation enterprise. The Company mainly operates passenger vessel transport for the Yantai-Dalian and Penglai-Dalian sea routes.

Ningbo Marine Co., Ltd. provides freight transportation on the inland waters, as well as between the ports of Ningbo and Southeast Asian countries and Japan. The Company also invests in the transportation facility construction business and processes steel product.

Tianjin Tianhai Investment Co., Ltd. provides marine transportation services in China and internationally. The company operates container transportation and related business. Its principal routes include international container regular freight transportation lines to South Korea and Southeast Asia with Tianjin, Qingdao, Quanzhou, and Shantou as the base ports, as well as domestic freight transportation lines to Yingkou, Qingdao, Rizhao, and Longkou with Quanzhou and Shantou as the base ports. The company was formerly known as Tianjin Marine Shipping Co., Ltd. and changed its name to Tianjin Tianhai Investment Co., Ltd. in July 2015. Tianjin Tianhai Investment Co., Ltd. is based in Tianjin, China.

Lanhai Medical Investment Co., Ltd. provides domestic and international water transportation for bulk cargos.  The Company also trades petrochemical products and provides storage service.

Lanhai Medical Investment Co.,  (600896 CH)

China Southern Airlines Company Limited provides commercial airline services throughout China, Southeast Asia and other parts of the world.  The Company also provides other airline related services including aircraft maintenance and air catering.

China Eastern Airlines Corporation Limited, together with its subsidiaries, operates in the civil aviation industry. It offers passenger, cargo, mail delivery, ground, cargo handling, and other extended transportation services.

Orient Overseas International Ltd, through its subsidiaries, owns and leases ships, operates terminals, and provides freight forwarding and container transportation services.  The Company also develops and invests in properties, leases equipment, and invests in securities.

Kawasaki Kisen Kaisha, Ltd. operates marine cargo and passenger transportation around the world.  The Company provides ocean liner, bulk carrier, car carrier, unscheduled specialized carrier, and energy transportation services. The Company also offers insurance, warehousing, and land transportation services.  Items transported include automobile, grain, petroleum, coal, iron ore, and wood chip.

Nippon Yusen Kabushiki Kaisha mainly provides marine transportation services and transportation management solution from international hub ports to both domestic and international ports. The Company operates container transportation, tramp and specialized carriers, and logistics and cruise lines. Nippon Yusen offers scheduled and unscheduled transportation services around the world.

Evergreen Marine Corp. (Taiwan) Ltd. transports freight by ships. The Company operates container ships to move freight throughout the world. Evergreen Marine has interests in terminals, airline operations and motor freight transportation, as well as container manufacturing.

Mitsui O.S.K. Lines, Ltd. provides marine transportation, warehousing, and cargo handling services.  The Company operates container ship, specialized carrier, oil tankers, and ferry.  Items transported include coal, iron ore, grain, logs, aluminum, cement, industrial salt, copper ore, wood chips, paper products, chemical products, gasoline and other petroleum products, LPG, and other cargoes.

Kuehne + Nagel International AG transports freight worldwide.  The Company operates sea, land, and rail freight transportation businesses and warehousing and distribution facilities.  Kuehne + Nagel also provides related special services.

A.P. Moller - Maersk A/S operates as an integrated transport and logistics company. The Company offers container vessels, supply ships, special vessels, terminals, tug boat activities and reefer container box manufacturing. A.P. Moller-Maersk serves clients worldwide.

Kirby Corporation operates a fleet of inland tank barges.  The Company transports industrial chemicals, refined petroleum products, black oil products, and agricultural chemicals.  Kirby also overhauls and services diesel engines employed in marine, power generation, and rail applications.

MISC Berhad owns ships and operates shipping and related services. Through its subsidiaries, the Company provides trucking, warehousing and forwarding service, containers and prime movers repair, and container haulage. MISC Berhad also has operation in trucking and launch operator.

Yang Ming Marine Transport provides transportation services and handles domestic and foreign maritime services on cargos.  The Company also operates warehouse, wharf, tug, barge, and container freight station services as well as repairs, leases, and sells containers and chassis.

COSCO SHIPPING Holdings Co., Ltd offers marine freight transportation services.  The Company offers container shipping, dry bulk shipping, logistics services, freight forwarding, and terminal and container leasing services internationally.  COSCO SHIPPING Holdings Co., Ltd operates container ships and terminals, and manufactures shipping containers.

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COSCO Shipping Holdings (1919 HK)

Mainland Connect NORTHBOUND Flows (To 12 July 2024): Finance, Industry, Infotech Bought

NORTHBOUND saw net buying. Significant volume spread across a LOT of names, not index-weighted. The weights indicate some short-covering ahead of...

Travis Lundy

Northbound Flows (Jul 12th): Moutai, Yangtze Power, Ping An Insurance, Cosco Shipping, CNNP

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Moutai, Yangtze Power, Ping An Insurance, Cosco...

Ke Yan, CFA, FRM

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

Quiddity Leaderboard for Hang Seng Index Sep 24: New Economy? Clean Energy? or Shipping?

We see IT, Healthcare, Materials, and Industrials as the High-conviction industries and we have identified four top picks from these industries as...

Janaghan Jeyakumar, CFA

Northbound Flows (Jun 28th): Foxconn Industrial Internet, Wanhua Chemical, BYD

We analyzed northbound Shanghai/Shenzhen connect flows in the past week and highlight flows for Foxconn Industrial Internet, Zhejiang Sanhua...

Ke Yan, CFA, FRM

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