Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Zijin Mining Group Co Ltd H / Event-Driven

<ul>
<li>The HSCEI is well-known and well-followed but sees less passive tracking than you might expect. Quiddity teammember Janaghan had expected up to two ADDs and two DELETEs.</li>
<li>We got one ADD and one DELETE instead as <a href="https://www.smartkarma.com/entities/sensetime-group-inc" target="_blank" data-smartkarma-citation="entities:34319:1" rel="noopener">SenseTime Group (20 HK)</a> was "saved" from deletion by a FFW/FAF increase. </li>
<li>Relatively smaller flows here at 3% one-way with the big flows on the name changes.</li>
</ul>


The HSCEI is well-known and well-followed but sees less passive tracking than you might expect. Quiddity teammember Janaghan had expected up to two ADDs and two DELETEs.
We got one ADD and one DELETE instead as SenseTime Group (20 HK) was "saved" from deletion by a FFW/FAF increase. 
Relatively smaller flows here at 3% one-way with the big flows on the name changes.


HSCEI June 2024 Rebal - Zijin Mining (2899) ADDed, Xinyi Solar (968) DELETEd

<ul>
<li>The Hang Seng Index benchmark has been expected to see an increase in names and flows to Healthcare. We have only one ADD (IT/tech) and one DELETE.</li>
<li>But the headlined DELETE candidate in <a href="https://www.smartkarma.com/insights/quiddity-leaderboard-for-hang-seng-index-jun-24-could-country-garden-services-get-deleted" target="_blank" rel="noopener">the most recent Quiddity Leaderboard</a> was chosen to be deleted. And the ADD one of our top two.</li>
<li>Flows are somewhat restrained at capping flows, small name change flows, and then a few FFW/FAF changes to be about 1.9% one-way flows in total.</li>
</ul>


The Hang Seng Index benchmark has been expected to see an increase in names and flows to Healthcare. We have only one ADD (IT/tech) and one DELETE.
But the headlined DELETE candidate in the most recent Quiddity Leaderboard was chosen to be deleted. And the ADD one of our top two.
Flows are somewhat restrained at capping flows, small name change flows, and then a few FFW/FAF changes to be about 1.9% one-way flows in total.


HSI June 2024 Rebal - BYD Electronics (285) ADDed, Cogard Svcs (6098) DELETEd, and Capping Flows

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Since mid-April we discussed how downside was limited on MSCI ACWI and EURO STOXX 50, and May 2nd discussed it was "quite possible" the lows were in.</li>
<li>Now, the MSCI ACWI, ACWI ex-US, EAFE, and EM indexes have all broken out to new multi-year highs. Our bullish outlook (since early-November 2023) remains intact; expect higher prices ahead.</li>
<li>China (MSCI China) continues to lead the EM turnaround, and we remain bullish on the space. We highlight many large-cap EM buys within Communications, Technology, Discretionary; we remain bullish miners.</li>
</ul>


Since mid-April we discussed how downside was limited on MSCI ACWI and EURO STOXX 50, and May 2nd discussed it was "quite possible" the lows were in.
Now, the MSCI ACWI, ACWI ex-US, EAFE, and EM indexes have all broken out to new multi-year highs. Our bullish outlook (since early-November 2023) remains intact; expect higher prices ahead.
China (MSCI China) continues to lead the EM turnaround, and we remain bullish on the space. We highlight many large-cap EM buys within Communications, Technology, Discretionary; we remain bullish miners.


Bullish Outlook Intact; EM and China Continue to Bottom; Buys in Comms, Tech, Discretionary, Miners

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 statistics on top repurchases over one week, one month, one quarter and one year periods ended on May 17th based on HKEx daily reports.</li>
<li>In the past week, the top 3 companies that repurchased the most shares from the market were Hang Seng Bank (11 HK), Swire Pacific (19 HK), Wuxi Biologics (2269 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Hang Seng Bank (11 HK), Meituan (3690 HK), Swire Pacific (19 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on May 17th based on HKEx daily reports.
In the past week, the top 3 companies that repurchased the most shares from the market were Hang Seng Bank (11 HK), Swire Pacific (19 HK), Wuxi Biologics (2269 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Hang Seng Bank (11 HK), Meituan (3690 HK), Swire Pacific (19 HK).


Hong Kong Buybacks Weekly (May 17th): Hang Seng Bank, Swire Pacific, Wuxi Biologics

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>1810 HK/ZK US/NIO US/TSLA US/XPEV US/600104 SH: Xiaomi to start double-shift production of the SU7 in June （+/-/-/-/-）</li>
<li>1810 HK/1211 HK/ LI US/ NIO US/ XPEV US: The data shows that only 2% of FSD12 users are converted to paying users, which is good for China's automatic driving(//////////)</li>
<li>LI US / NIO US/1810 HK :Li Auto takes the lead in sales in the 18th week of 2024, while Xiaomi continues to lag behind（/////）</li>
</ul>


1810 HK/ZK US/NIO US/TSLA US/XPEV US/600104 SH: Xiaomi to start double-shift production of the SU7 in June （+/-/-/-/-）
1810 HK/1211 HK/ LI US/ NIO US/ XPEV US: The data shows that only 2% of FSD12 users are converted to paying users, which is good for China's automatic driving(//////////)
LI US / NIO US/1810 HK :Li Auto takes the lead in sales in the 18th week of 2024, while Xiaomi continues to lag behind（/////）


[Blue Lotus Daily]:1810 HK/ZK US/NIO US/TSLA US/XPEV US/600104 SH/1211 HK/ LI US/LKNCY US

China

Xiaomi Corporation manufactures communication equipment and parts. The Company produces and sells mobile phones, smart phone software,  set-top boxes, and related accessories. Xiaomi markets its products worldwide.

Price Gauge
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Xiaomi Corp (1810 HK)

HSCEI June 2024 Rebal - Zijin Mining (2899) ADDed, Xinyi Solar (968) DELETEd

The HSCEI Index sees one add and one delete. The ADD of Zijin was expected. Quiddity expected Xinyi Solar to be deleted, and Sensetime too, but it...

Travis Lundy

HSI June 2024 Rebal - BYD Electronics (285) ADDed, Cogard Svcs (6098) DELETEd, and Capping Flows

Hang Seng rebals are usually difficult to predict because the whims and fancies of the index committee are tough to know. We got the DELETE right....

Travis Lundy

Bullish Outlook Intact; EM and China Continue to Bottom; Buys in Comms, Tech, Discretionary, Miners

Bullish Outlook Intact $ACWI; EM and China Continue to Lead; U.S. Dollar (DXY), WTI Crude Oil, and Gasoline Prices Rolling Over; Buys in: Comms,...

Vermilion Research

Hong Kong Buybacks Weekly (May 17th): Hang Seng Bank, Swire Pacific, Wuxi Biologics

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Hang Seng Bank (11...

Ke Yan, CFA, FRM

[Blue Lotus Daily]:1810 HK/ZK US/NIO US/TSLA US/XPEV US/600104 SH/1211 HK/ LI US/LKNCY US

Xiaomi to start double-shift production of SU7, FSD12 users conversion rate low, Li Auto leads in sales in 18th week of 2024.

Blue Lotus Research Institute

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HSCEI June 2024 Rebal - Zijin Mining (2899) ADDed, Xinyi Solar (968) DELETEd

The HSCEI Index sees one add and one delete. The ADD of Zijin was expected. Quiddity expected Xinyi Solar to be deleted, and Sensetime too, but it...

Travis Lundy

HSI June 2024 Rebal - BYD Electronics (285) ADDed, Cogard Svcs (6098) DELETEd, and Capping Flows

Hang Seng rebals are usually difficult to predict because the whims and fancies of the index committee are tough to know. We got the DELETE right....

Travis Lundy

Bullish Outlook Intact; EM and China Continue to Bottom; Buys in Comms, Tech, Discretionary, Miners

Bullish Outlook Intact $ACWI; EM and China Continue to Lead; U.S. Dollar (DXY), WTI Crude Oil, and Gasoline Prices Rolling Over; Buys in: Comms,...

Vermilion Research

Hong Kong Buybacks Weekly (May 17th): Hang Seng Bank, Swire Pacific, Wuxi Biologics

We analyzed the Hong Kong buyback data in the past week and highlight the top 3 companies that repurchased the most shares were Hang Seng Bank (11...

Ke Yan, CFA, FRM

[Blue Lotus Daily]:1810 HK/ZK US/NIO US/TSLA US/XPEV US/600104 SH/1211 HK/ LI US/LKNCY US

​Xiaomi to start double-shift production of SU7, FSD12 users conversion rate low, Li Auto leads in sales in 18th week of 2024.

Blue Lotus Research Institute

Xiaomi to start double-shift production of SU7, FSD12 users conversion rate low, Li Auto leads in sales in 18th week of 2024.