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 analyzed the latest HK SFC report for aggregate short position as of Sep 1st.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Tencent, Li Auto, Baba, China Mobile, Evergrande.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Sep 1st.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Tencent, Li Auto, Baba, China Mobile, Evergrande.


HK Short Interest Weekly: Tencent, Li Auto, Baba, China Mobile, Evergrande

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>With no stocks in inclusion or deletion zone, we do not expect any constituent changes for the <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">Hang Seng TECH Index (HSTECH INDEX)</a> in December.</li>
<li>Capping changes will result in a one-way turnover of a touch below 1% and that will result in a round-trip trade of US$255m.</li>
<li>The impact on the stocks is relatively small for now but that could increase till the end of November when the stocks will be capped.</li>
</ul>


With no stocks in inclusion or deletion zone, we do not expect any constituent changes for the Hang Seng TECH Index (HSTECH INDEX) in December.
Capping changes will result in a one-way turnover of a touch below 1% and that will result in a round-trip trade of US$255m.
The impact on the stocks is relatively small for now but that could increase till the end of November when the stocks will be capped.


HSTECH Index Rebalance Preview: Round-Trip Trade of US$255m in December

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight inflows into Meituan, CCB, China Mobile, CNOOC, HKEX.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight inflows into Meituan, CCB, China Mobile, CNOOC, HKEX.


Hong Kong Connect Flows (August): $8.8bn Outflows

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Aug 25th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Wuxi Apptec, Baba, Anta Sports, Hkex.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Aug 25th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Wuxi Apptec, Baba, Anta Sports, Hkex.


HK Short Interest Weekly: Wuxi Apptec, Baba, Anta Sports, HKex

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 1st.</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 flows for Meituan, Xpeng, CNOOC, HKEx, Kuaishou Technology.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 1st.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Meituan, Xpeng, CNOOC, HKEx, Kuaishou Technology.


Hong Kong Connect Flows (Sep 1st): Meituan, Xpeng, CNOOC, HKEx, Kuaishou Technology

Hong Kong

Hong Kong Exchanges & Clearing Limited owns and operates the stock exchange, futures exchange, and their related clearing houses in Hong Kong.  The Company provides the trading platforms for a range of cash and derivatives products and the facilities for processing trades.

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HKEX (388 HK)

HK Short Interest Weekly: Tencent, Li Auto, Baba, China Mobile, Evergrande

We analyzed the latest HK SFC report for aggregate short position as of Sep 1st and highlight short interest changes in Tencent, Li Auto, Baba,...

Ke Yan, CFA, FRM

HSTECH Index Rebalance Preview: Round-Trip Trade of US$255m in December

We do not see any constituents changing in December. Capping will lead to a one-way turnover of 1% resulting in a round-trip trade of US$255m....

Brian Freitas

Hong Kong Connect Flows (August): $8.8bn Outflows

We analyzed the Hong Kong Connect Scheme for the month of August and highlight flows for Meituan, CCB, China Mobile, CNOOC, HKEX.

Ke Yan, CFA, FRM

HK Short Interest Weekly: Wuxi Apptec, Baba, Anta Sports, HKex

We analyzed the latest HK SFC report for aggregate short position as of Aug 25th and highlight short interest changes in Wuxi Apptec, Baba, Anta...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (Sep 1st): Meituan, Xpeng, CNOOC, HKEx, Kuaishou Technology

We analyzed the Hong Kong Connect Scheme for last week and highlight flows for Meituan, Xpeng, CNOOC, HKEx, Kuaishou Technology.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)