In today’s briefing:
- Mainland Connect NORTHBOUND Flows (To 12 July 2024): Finance, Industry, Infotech Bought
- T.S. Lines Pre-IPO – Looks like an Opportunistic Listing
- TS Lines Pre-IPO: Should We Expect TS Lines to Match Wan Hai’s Strength in YTD 2024?
Mainland Connect NORTHBOUND Flows (To 12 July 2024): Finance, Industry, Infotech Bought
- The Quiddity Mainland Connect NORTHBOUND Monitor. Like the A/H Premium Monitor and HK Connect SOUTHBOUND Monitor. Lots of Flows/Position Tables and Charts with which to play.
- Last week saw NORTHBOUND net BUY RMB +15.9bn of A-shares. NORTHBOUND bought Financials, Industry, Infotech, etc. They sold Communications (which was a HUGE SOUTHBOUND buy) and Pharma/Healthcare.
- It is notable that net flows as a percentage of value traded are clearly “short gamma”, which is to say, sector underperformers are being sold, sector outperformers being bought.
T.S. Lines Pre-IPO – Looks like an Opportunistic Listing
- T.S. Lines (TSL HK) is looking to raise about US$300m in its upcoming Hong Kong IPO.
- T.S. Lines (TSL) is a container shipping firm primarily operating in the Asia Pacific (APAC) region.
- In this note, we look at the firm’s past performance.
TS Lines Pre-IPO: Should We Expect TS Lines to Match Wan Hai’s Strength in YTD 2024?
- TS Lines’ comp Wan Hai has reported strong numbers so far in 2024
- But TS Lines is unlikely to match Wan Hai’s impressive H124 gains
- Next for TS Lines: H124 financials and valuation vs Wan Hai, RCL
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