In today’s briefing:
- A/H Premium Tracker (To 5 Jul 2024): Spread Curve Torsion Still Strong
- A-H Premium Weekly (Jul 5th): China Tourism, Ganfeng Lithium, China East Air, Petrochina
- Hong Kong Connect Flows (Jul 5th): CCB, China Mobile, ICBC, CMB, Petrochina, Tencent
- KRX Foreign Holding Weekly (Jul 5th): Samsung Electronics, Sk Hynix
- Northbound Flows (Jul 5th): 4 Weeks of Outflows
- TWSE Foreign Holding Weekly (Jul 5th): TSMC, Zhen Ding Tech, Realtek Semi, Cathay Financial
- TWSE Short Interest Weekly (Jul 5th): Taiwan Mobile, Lite-On Tech, Far Eastone Tele, L&K Engineering
A/H Premium Tracker (To 5 Jul 2024): Spread Curve Torsion Still Strong
- The New/Better A-H Premium Tracker has tables, charts, measures galore to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, etc.
- SOUTHBOUND inflow continues, albeit smaller. SOE Banks/Energy remain a big net buy. SOUTHBOUND Net buying as a percent of volume on SOE Banks and Energy is HUGE.
- Wide spreads (high AH premium) saw H outperform, but narrow spreads saw Hs underperform significantly. Again.
A-H Premium Weekly (Jul 5th): China Tourism, Ganfeng Lithium, China East Air, Petrochina
- We analyse the changes of A-H premium on 146 stocks over the last week. The average A-H premium was 104.4% as of Jul 5th.
- The average A-H premium changed by -1.2ppt week-on-week, led by consumer staples, information technology, health care and offset by communication services, real estate.
- We highlight weekly changes in A-H premium for China Tourism, Ganfeng Lithium, China East Air, Petrochina.
Hong Kong Connect Flows (Jul 5th): CCB, China Mobile, ICBC, CMB, Petrochina, Tencent
- We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 5th.
- 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, China Mobile, ICBC, CMB, Petrochina, Tencent.
KRX Foreign Holding Weekly (Jul 5th): Samsung Electronics, Sk Hynix
- We analyzed the changes in foreign holdings of KRX Stocks as of Jul 5th which has an aggregated holding worth USD576.9bn.
- We estimate that foreign flows to be inflows of USD409mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
- We highlight foreign changes in Samsung Electronics(005930 KS) , Sk Hynix(000660 KS) .
Northbound Flows (Jul 5th): 4 Weeks of Outflows
- We analyze the weekly Shanghai/Shenzhen northbound Connect flows with our data engine for holding position as of July 5th.
- We estimate the weekly outflows to be US$1,769.7 million, led by information technology, materials, industrials, and offset by communication services, real estate, utilities.
- We note that outflows have been consecutive for four weeks and highlight outflows for CATL (300750 CH).
TWSE Foreign Holding Weekly (Jul 5th): TSMC, Zhen Ding Tech, Realtek Semi, Cathay Financial
- We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 5th which has an aggregated holding worth USD1,012.0bn.
- We estimate that foreign flows to be inflows of USD531mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
- We highlight foreign changes in TSMC, Zhen Ding Tech, Realtek Semi, Cathay Financial, Compeq Mfg, Far Eastone Tele, Taiwan Mobile, Lite-On Tech, Asia Vital, Novatek.
TWSE Short Interest Weekly (Jul 5th): Taiwan Mobile, Lite-On Tech, Far Eastone Tele, L&K Engineering
- We analyzed the changes in short interest of TWSE Stocks as of Jul 5th which has an aggregated short interest worth USD22.2bn.
- We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases & decreases in short value, short as multiple of ADT.
- We highlight short interest changes in Taiwan Mobile, Lite-On Tech, Far Eastone Tele, L&K Engineering, Evergreen Marine, ASE, Hon Hai, Asia Vital.
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