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

Rikki Malik

Macroeconomics

<ul>
<li>More deflation reported in China and the implications for markets</li>
<li>Chinese authorities keep pushing liquidity into the system and focusing on the stock market</li>
<li>Parts of the Chinese Economy not as bad as the doomsayers would have you believe</li>
</ul>


More deflation reported in China and the implications for markets
Chinese authorities keep pushing liquidity into the system and focusing on the stock market
Parts of the Chinese Economy not as bad as the doomsayers would have you believe


CPI Falls Again in China as Japanification Narrative Does the Rounds

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>A bad week for HK and Chinese shares. National Team buying seems lighter into the waning days of the Year of the Rabbit.</li>
<li>Net SOUTHBOUND buying was HK$4.0bn in the shortened pre-holiday week.</li>
<li>Remarkable this past week, again, was the tendency to net sell names which were down hard, and net buy names which have been performing well.</li>
</ul>


A bad week for HK and Chinese shares. National Team buying seems lighter into the waning days of the Year of the Rabbit.
Net SOUTHBOUND buying was HK$4.0bn in the shortened pre-holiday week.
Remarkable this past week, again, was the tendency to net sell names which were down hard, and net buy names which have been performing well.


HK Connect SOUTHBOUND Flows (To 9 Feb 2024); Net Tech Selling STILL, Net SOE Buying, STILL

<ul>
<li>A bad week for HK and Chinese shares. National Team buying seems lighter into the waning days of the Year of the Rabbit. </li>
<li>Net SOUTHBOUND selling was HK$9.4bn on the week, with net selling every day as the market fell hard - both in HK and the mainland.</li>
<li>Remarkable this past week was the tendency to net sell names which were down hard, and net buy names which have been performing well. </li>
</ul>


A bad week for HK and Chinese shares. National Team buying seems lighter into the waning days of the Year of the Rabbit. 
Net SOUTHBOUND selling was HK$9.4bn on the week, with net selling every day as the market fell hard - both in HK and the mainland.
Remarkable this past week was the tendency to net sell names which were down hard, and net buy names which have been performing well. 


HK Connect SOUTHBOUND Flows (To 2 Feb 2024); Net Selling (Much Tech), Net SOE Buying, Still

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 analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 128.5% as of Jan 26th.</li>
<li>The average A-H premium changed by -0.6ppt week-on-week, led by energy, industrials, health care and offset by real estate, communication services, information technology.</li>
<li>We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering, Tianqi Lithium Corporation.</li>
</ul>


We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 128.5% as of Jan 26th.
The average A-H premium changed by -0.6ppt week-on-week, led by energy, industrials, health care and offset by real estate, communication services, information technology.
We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering, Tianqi Lithium Corporation.


A-H Premium Weekly (Jan 26th): Haier Smart, China Tourism, Conch Cement, Tsingtao Brew, GWM

Equity Bottom-Up

Tracker Fund of Hong Kong  / Equity Bottom-Up

<ul>
<li>A capitulation-type event for the Hong Kong market is ongoing.</li>
<li>High-Dividend stocks will provide a safer return regardless of broader market moves.</li>
<li>A false breakdown below Oct 2022 support will provide a signal for higher-beta exposure.</li>
</ul>


A capitulation-type event for the Hong Kong market is ongoing.
High-Dividend stocks will provide a safer return regardless of broader market moves.
A false breakdown below Oct 2022 support will provide a signal for higher-beta exposure.


China

CNOOC Limited, through its subsidiaries, explores, develops, produces, and sells crude oil and natural gas. The Company focuses in the areas such as Bohai, Western South China Sea, Eastern South China Sea and East China Sea in offshore China. Internationally, the Group has oil and gas assets in Asia, Africa, North America, South America, and Oceania.

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

CNOOC Ltd (883 HK)

CPI Falls Again in China as Japanification Narrative Does the Rounds

China reports more deflation, but authorities are injecting massive liquidity into the system and focusing on the stock market; some parts of the...

Rikki Malik

HK Connect SOUTHBOUND Flows (To 9 Feb 2024); Net Tech Selling STILL, Net SOE Buying, STILL

SOUTHBOUND saw net buying on this shortened week pre-CNY as stocks rebounded from the previous week's dramatic selloff. High Div SOEs were bought...

Travis Lundy

HK Connect SOUTHBOUND Flows (To 2 Feb 2024); Net Selling (Much Tech), Net SOE Buying, Still

SOUTHBOUND Connect saw net outflows every day and ended the week at -9.4bn HKD. Lots of tech selling. Lots of momentum-action (selling what was...

Travis Lundy

A-H Premium Weekly (Jan 26th): Haier Smart, China Tourism, Conch Cement, Tsingtao Brew, GWM

We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering,...

Ke Yan, CFA, FRM

Opportunities in the Hong Kong Market

Hong Kong market experiencing a capitulation event; high-dividend stocks offer stability, while any false breakdown is a signal to take higher...

Rikki Malik

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CPI Falls Again in China as Japanification Narrative Does the Rounds

​China reports more deflation, but authorities are injecting massive liquidity into the system and focusing on the stock market; some parts of the...

Rikki Malik

HK Connect SOUTHBOUND Flows (To 9 Feb 2024); Net Tech Selling STILL, Net SOE Buying, STILL

SOUTHBOUND saw net buying on this shortened week pre-CNY as stocks rebounded from the previous week's dramatic selloff. High Div SOEs were bought...

Travis Lundy

HK Connect SOUTHBOUND Flows (To 2 Feb 2024); Net Selling (Much Tech), Net SOE Buying, Still

SOUTHBOUND Connect saw net outflows every day and ended the week at -9.4bn HKD. Lots of tech selling. Lots of momentum-action (selling what was...

Travis Lundy

A-H Premium Weekly (Jan 26th): Haier Smart, China Tourism, Conch Cement, Tsingtao Brew, GWM

We highlight weekly changes in A-H premium for Haier Smart Home, China Tourism, Conch Cement, Tsingtao Brew, Gwmotor, China Energy Engineering,...

Ke Yan, CFA, FRM

Opportunities in the Hong Kong Market

​Hong Kong market experiencing a capitulation event; high-dividend stocks offer stability, while any false breakdown is a signal to take higher...

Rikki Malik

China reports more deflation, but authorities are injecting massive liquidity into the system and focusing on the stock market; some parts of the...

Hong Kong market experiencing a capitulation event; high-dividend stocks offer stability, while any false breakdown is a signal to take higher...