In today’s briefing:
- EQD | FXI – Buy January Straddle
- EQD | HSI – Buy January Straddle
- KPay nets US$55M for expansion amid Asia’s fintech slowdown | e27
- Meituan (3690 HK): Online Drug Sales Is the First Sweet Spot of O2O Vs. E-Commerce
- Crystal Baller: Tracking Traffic’s Key 2025 Themes & Events: Containers | Express | Chinese Tourism
EQD | FXI – Buy January Straddle
- The implied move for January is considerably less than what has been experienced historically.
- January punches above its weight in terms of both historic volatility (most volatile month) and the amount of price movement relative to that historic volatility.
- 71% of the last 21 January’s have had a larger absolute return for the month than the current implied move of 5.7%. Average January move has been 8.62%.
EQD | HSI – Buy January Straddle
- The implied move for January is less than what has been historically experienced. Twenty of the last 27 years have had price movement > current implied move.
- January punches above its weight in terms of both historic volatility (most volatile month) and the amount of price movement relative to that historic volatility.
- January is one of the most volatility months of the year, only October having a higher average historic volatility
KPay nets US$55M for expansion amid Asia’s fintech slowdown | e27
- KPay Group, a Hong Kong- and Singapore-based financial management and business operations platform, has secured US$55 million in its Series A funding round.
- This round was led by Apis Growth Markets Fund III and Apis Global Growth Fund III, managed by Apis Partners, a UK-based ESG and impact-native global private equity asset manager.
- The investment will fuel KPay’s expansion plans across key Asian economies, including Indonesia, the Philippines, Malaysia, and Thailand.
Meituan (3690 HK): Online Drug Sales Is the First Sweet Spot of O2O Vs. E-Commerce
- O2O has made a huge impact on China’s e-commerce scene in 2024. The Coupang-invented model suits mega cities with dense population and order volumes;
- Online drug O2O, in particular, has gained momentum because drugs, prescription and non-prescription have robust storage and distribution needs on the ground for O2O use;
- Meituan’s drug sales has grown its overall market share from 3.6% in 2022 to 7.1% in 2024. We project it to grow to 12.3% by 2030.
Crystal Baller: Tracking Traffic’s Key 2025 Themes & Events: Containers | Express | Chinese Tourism
- In container shipping, ‘normalization’ means lower rates, lower margins, & lower returns
- In Chinese express, a potential recovery in ground segment, more risks in X-border business
- In Chinese tourism, how will investors react to inevitable slowing
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