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

Macroeconomics

<ul>
<li>China’s local governments have begun offering billions of yuan worth of coupons to boost consumer spending, in an effort to help businesses feeling the pain of China’s Covid-19 outbreaks over the past two months.</li>
<li>The measure comes as China’s economy faces some of the greatest strain it has experienced since the initial wave of outbreaks in early 2020 as strict lockdowns across the country have disrupted business and everyday life</li>
<li>This time, local governments have also chosen coupons or vouchers as the form of their demand-side stimulus policy. The coupons will be good for discounts on products like cars and electronics, as well as services such as admission into local tourist sites.</li>
</ul>


China’s local governments have begun offering billions of yuan worth of coupons to boost consumer spending, in an effort to help businesses feeling the pain of China’s Covid-19 outbreaks over the past two months.
The measure comes as China’s economy faces some of the greatest strain it has experienced since the initial wave of outbreaks in early 2020 as strict lockdowns across the country have disrupted business and everyday life
This time, local governments have also chosen coupons or vouchers as the form of their demand-side stimulus policy. The coupons will be good for discounts on products like cars and electronics, as well as services such as admission into local tourist sites.


Local Governments Again Break Out the Coupons to Boost Consumer Spending

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

This month, we provide an update on the developments in the Oil & Gas sector following Russia's invasion of Ukraine. The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the “In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

  This month, we provide an update on the developments in the Oil & Gas sector following Russia's invasion of Ukraine.   The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the “In-Focus” section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - Oil & Gas Update Following Russia’S Invasion Of Ukraine - Lucror Analytics

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 Apr 22nd. </li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short increases in Shenzhou Intl, CK Hutchison, and short covers in China Merchants Bank.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Apr 22nd. 
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short increases in Shenzhou Intl, CK Hutchison, and short covers in China Merchants Bank.


HK Short Interest: Shenzhou Intl, CKH, CMB

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:<ol><li><a href='/entities/china-jinmao-holdings-group' target='_blank' rel='noopener'>China Jinmao Holdings</a></li><li><a href='/entities/guangzhou-r-f-properties-h' target='_blank' rel='noopener'>Guangzhou R&F Properties</a></li><li><a href='/entities/sunac-china-holdings-ltd' target='_blank' rel='noopener'>Sunac China Holdings</a></li><li><a href='/entities/greenland-hong-kong-holdings-ltd' target='_blank' rel='noopener'>Greenland Hong Kong Holdings</a></li><li><a href='/entities/china-evergrande-group' target='_blank' rel='noopener'>Evergrande</a></li></ol>and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:China Jinmao HoldingsGuangzhou R&F PropertiesSunac China HoldingsGreenland Hong Kong HoldingsEvergrandeand more...

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

Hang Seng China Enterprises Index / Event-Driven

<ul>
<li>Last evening <a href="https://www.smartkarma.com/entities/cnooc-ltd" target="_blank" data-smartkarma-citation="entities:175:1" rel="noopener">CNOOC Ltd (883 HK)</a> announced a special div of HK$1.18/share - that is higher than market expectations. <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com Inc. (9618 HK)</a> could announce a special div next week.</li>
<li>Fair value for the HSCEI 2022 dividend futures moves higher to 250 DIPS off the back of <a href="https://www.smartkarma.com/entities/cnooc-ltd" target="_blank" data-smartkarma-citation="entities:175:1" rel="noopener">CNOOC Ltd</a>'s special div and the estimated <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com Inc. (9618 HK)</a> special div.</li>
<li>The HSCEI 2022/23 steepener had dropped to -29 yesterday and should drop even lower today where we could see some covering.</li>
</ul>


Last evening CNOOC Ltd (883 HK) announced a special div of HK$1.18/share - that is higher than market expectations. JD.com Inc. (9618 HK) could announce a special div next week.
Fair value for the HSCEI 2022 dividend futures moves higher to 250 DIPS off the back of CNOOC Ltd's special div and the estimated JD.com Inc. (9618 HK) special div.
The HSCEI 2022/23 steepener had dropped to -29 yesterday and should drop even lower today where we could see some covering.


HSCEI Dividend Futures: CNOOC Special Drives 2022 Fair Value Higher, 22/23 Steepener Lower

China

Lenovo Group Limited, through its subsidiaries, sells, and manufactures personal computers and handheld devices. The Company also provides Internet services and IT services, and contracting manufacturing business.

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Lenovo Group Ltd Adr (LNVGY US)

Local Governments Again Break Out the Coupons to Boost Consumer Spending

China’s local governments have begun offering billions of yuan worth of coupons to boost consumer spending, in an effort to help businesses

Caixin Global

Asia HY Monthly - Oil & Gas Update Following Russia’S Invasion Of Ukraine - Lucror Analytics

This month, we provide an update on the developments in the Oil & Gas sector following Russia's invasion of Ukraine. The Asia Monthly...

Lucror Analytics

HK Short Interest: Shenzhou Intl, CKH, CMB

We highlight week on week short increases in Shenzhou Intl, CK Hutchison, and short covers in China Merchants Bank based on the latest HK SFC short...

Ke Yan, CFA, FRM

Weekly Wrap - 29 Apr 2022

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

Lucror Analytics

HSCEI Dividend Futures: CNOOC Special Drives 2022 Fair Value Higher, 22/23 Steepener Lower

The CNOOC special div and the potential JD.com special div pushes the fair value for the 2022 div futures higher. With no change to the fair value...

Brian Freitas

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