Global Equity Strategy: Constructive Pullback; Overweight Value
As long as the MSCI ACWI (ACWI-US), ACWI ex-US (ACWX-US), and EM (EEM-US) indexes are above their respective intermediate-term support levels we...
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Autohome Secondary Listing: HK-ADS Premium/(Discount) Views
Autohome will price its H-shares at a discount to its ADSs to entice investors to participate in the secondary listing. We think that a 2% discount...
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Bilibili Secondary Listing Early Look - Will Probably Be More like JD and NetEase
Bilibili plans to raise around US$3bn in its secondary listing in Hong Kong. The company is said to have filed confidentially in Jan 2021 and is...
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December-January Travel Data Confirm Stalled Domestic Recovery; Weak LNY Unlikely to Help
The recovery in domestic travel demand stalled again in December, and we believe improvement will be muted in the near-term as officials battle...
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An Analysis of ADR/HKEX Discount Behavior As The US Listed Chinese Tech Rush To Hong Kong
As the US-listed Chinese tech firms rush for secondary listings on the Hong Kong Stock Exchange, we analyse the ADR/HKEX discount behaviour of the...
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