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>We see 37 potential adds (including plenty of new listings) and 25 potential deletes (on market cap and liquidity) for the Hang Seng Composite Index in September.</li>
<li>We expect 32 stocks to be added to Southbound Stock Connect following the rebalance while 24 stocks could be deleted from the trading link and become Sell-only.</li>
<li>There are stocks that have a very high percentage of holdings via Stock Connect and there could be some unwinding prior to the stocks becoming Sell-only.</li>
</ul>


We see 37 potential adds (including plenty of new listings) and 25 potential deletes (on market cap and liquidity) for the Hang Seng Composite Index in September.
We expect 32 stocks to be added to Southbound Stock Connect following the rebalance while 24 stocks could be deleted from the trading link and become Sell-only.
There are stocks that have a very high percentage of holdings via Stock Connect and there could be some unwinding prior to the stocks becoming Sell-only.


HSCI Index Rebalance Preview and Stock Connect: Potential Changes in September

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 Hong Kong Connect flows with our data engine for holding position as of June 28th.</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 CCB (939 HK), ICBC (1398 HK), Tencent (700 HK).</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of June 28th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for CCB (939 HK), ICBC (1398 HK), Tencent (700 HK).


Hong Kong Connect Flows (Jun 28th): CCB, ICBC, Tencent

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cloudchain" target="_blank" data-smartkarma-citation="entities:40304:1" rel="noopener">Cloudchain (CC CH)</a> is looking to raise up to US$200m in its upcoming HK IPO. </li>
<li>Cloudchain is an independent industry digital finance platform in China, serving anchor enterprises, chain-related enterprises, and financial institutions.</li>
<li>In this note, we will talk about the not-so-positive aspects of the deal.</li>
</ul>



Cloudchain (CC CH) is looking to raise up to US$200m in its upcoming HK IPO. 
Cloudchain is an independent industry digital finance platform in China, serving anchor enterprises, chain-related enterprises, and financial institutions.
In this note, we will talk about the not-so-positive aspects of the deal.


Cloudchain Pre-IPO - The Negatives - But Still Not Convinced

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cloudchain" target="_blank" data-smartkarma-citation="entities:40304:1" rel="noopener">Cloudchain (CC CH)</a> is looking to raise up to US$200m in its upcoming HK IPO. </li>
<li>Cloudchain is an independent industry digital finance platform in China, serving anchor enterprises, chain-related enterprises, and financial institutions.</li>
<li>In this note, we will talk about the positive aspects of the deal.</li>
</ul>



Cloudchain (CC CH) is looking to raise up to US$200m in its upcoming HK IPO. 
Cloudchain is an independent industry digital finance platform in China, serving anchor enterprises, chain-related enterprises, and financial institutions.
In this note, we will talk about the positive aspects of the deal.


Cloudchain Pre-IPO - The Positives - Turned Profitable Recently

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Nov 26 based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Skyworth (751 HK), China Feihe (6186 HK), Linklogis (9959 HK).</li>
<li>In the past 90 days, the top 3 companies that repurchased the most shares from the market were Xiaomi (1810 HK), Tencent (700 HK), Hengan International (1044 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Nov 26 based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Skyworth (751 HK), China Feihe (6186 HK), Linklogis (9959 HK).
In the past 90 days, the top 3 companies that repurchased the most shares from the market were Xiaomi (1810 HK), Tencent (700 HK), Hengan International (1044 HK).


Hong Kong Buybacks: Skyworth, China Feihe, Linklogis

Hong Kong

Linklogis Inc operates as a technology solution provider. The company develops cloud native solutions and supply chain finance technology solutions which optimize the payment cycle of supply chain transactions and digitalize the entire workflow of supply chain finance. Linklogis provides its services throughout Hong Kong.

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Linklogis (9959 HK)

HSCI Index Rebalance Preview and Stock Connect: Potential Changes in September

There could be nearly 80 adds/deletes for the HSCI in September. That will trigger changes to the Southbound Stock Connect list and increase flows...

Brian Freitas

Hong Kong Connect Flows (Jun 28th): CCB, ICBC, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlight flows for CCB (939 HK), ICBC (1398 HK), Tencent (700 HK).

Ke Yan, CFA, FRM

Cloudchain Pre-IPO - The Negatives - But Still Not Convinced

Cloudchain (CC CH) is looking to raise up to US$200m in its upcoming HK IPO. In this note, we will talk about the not-so-positive aspects of the deal.

Ethan Aw

Cloudchain Pre-IPO - The Positives - Turned Profitable Recently

Cloudchain (CC CH) is looking to raise up to US$200m in its upcoming HK IPO. In this note, we talk about the positive aspects of the deal.

Ethan Aw

Hong Kong Buybacks: Skyworth, China Feihe, Linklogis

We highlight the top 3 companies that repurchased the most shares in HK were Skyworth Group Limited (751 HK), China Feihe Limited (6186 HK),...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)