Indexing Investment. under Stock Connect Program. Anita Mo. Head of Business Development. A joint venture of

Size: px
Start display at page:

Download "Indexing Investment. under Stock Connect Program. Anita Mo. Head of Business Development. A joint venture of"

Transcription

1 Indexing Investment under Stock Connect Program Anita Mo Head of Business Development A joint venture of Nov

2 China Exchanges Services Company Ltd. 33.3% 33.3% 33.3% 2

3 Cross Border Asset Allocation China s Capital Markets USD 15 Trillion Inflow Quota USD 300 Billion Stocks Bond 2% QFII+ RQFII Interbank Bond Market Northbound Connect After SZ-HK Stock Connect Outflow Quota USD 130 Billion Global Capital Markets USD 145 Trillion QDII Southbound Connect 0.1% After SZ-HK Stock Connect Stocks Bond Data Source: Administration of Exchange Control, People s Bank of China, HKEX, SSE, SZSE, China Bond, Bloomberg *People s Bank of China has abolished the limit of foreign central banks since the end of Sep The data is the estimated value of the inflow quota of interbank bond market in

4 SOUTH BOUND NORTH BOUND Evolution of Cross Border Investment Shanghai NB Connect Shenzhen NB Connect 1993 H- shares 1996 Redchips Eligible Stocks No. Mkt Cap (One single board) RMB 21.8 tri (85%) 2016 ~880 1 (Main:~270, SME:~410, ChiNext:~200) ~RMB 15 tri (74%) SH-HK Stock Connect SZ-HK Stock Connect QDII QFII RQFII Eligible Stocks No. Mkt Cap Shanghai SB Connect 318 (Hang Seng Composite LargeCap, MidCap & A+H shares not in indices) HKD 19.8 tri (82%) Shenzhen SB Connect ~417 2 (Hang Seng Composite LargeCap, MidCap, SmallCap & A+H shares not in indices) ~HKD 21 tri (87%) 1. SZ Northbound: Constituents of SZSE Component & SZSE Small/Mid Cap Innovation indexes with market capitalization of at least RMB 6 bn, and SZSE-SEHK A+H shares (except shares under risk alert or delisting arrangement 2. SZ Southbound: Constituents of Hang Seng Large & MidCap indexes, constituents of Hang Seng SmallCap index with market capitalization of at least HKD 5 bn, and SSE-SEHK and SZSE-SEHK A+H shares 4

5 Southbound Trading Daily Average Net Flow (Mn, RMB) Quarterly Daily Average Q Q Q ,302 Q Q Q Q ,232 3,000 2,500 2,772 2,442 2,000 1,500 1, , Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Data Source: SSE 5

6 Northbound Trading Daily Average Net Flow (Mn, RMB) Quarterly Daily Average 5,000 Q Q Q Q Q Q Q ,055 4,000 3,000 2,000 1,000-1, , , , ,000-1,432 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Data Source: HKEX 6

7 Market Value Distribution Hong Kong + Shanghai + Shenzhen 1 Stock Connect Universe 2 HK/Overse as 13% (987) HK Mainland 20% (700) SH 38% (1,021) Stock Connect HK Mainland 20% (323) HK/Oversea s 11% (94) SH 36% (567) SZ 29% (1,542) SZ 33% (880) Stock Connect captures representative universe from the respective markets 1. Data as of 30 Sep Estimated data as of end July

8 Industry Distribution Tele Services mainly includes Red chips listed on HKEX Example: China Mobile (941) China Telecom (728) China Unicom (762) Industrials mainly includes A shares listed on SSE & SZSE Example: Shanghai International Port (Group) (600018) China State Construction Engineering (601668) Daqin Railway (601006) Financials mainly includes the unique financial stocks listed on HKEX Example:HKEX(388) AIA(1299) Sector(Weighting%) Southbound Trading Northbound Trading Differ Energy 3.9% 6.8% 2.8% Materials 1.5% 8.9% 7.4% Industrials 7.7% 16.1% 8.5% Consumer Disc 8.6% 13.0% 4.4% Consumer Stap 3.2% 5.9% 2.8% Health Care 1.7% 6.1% 4.3% Financials 45.4% 27.2% -18.2% IT 11.8% 11.5% -0.3% Tele Services 10.5% 0.4% -10.1% Utilities 5.7% 4.1% -1.5% Cross-border investment can have more comprehensive industry coverage. *Data Source: HKEX, CESC,as of 30 Sep 8

9 CES 120 under Stock Connect Stock Connect Universe 1 HK/Overseas 11% (94) 0005.HK HSBC 1299.HK AIA 0001.HK Cheung Kong 0016.HK Sun Hung Kai 2388.HK Bank of China CES HK Mainland 20% (323) SH 36% (567) China Portion HK 37% (40) SH 53% (58) SZ 10% (22) SZ 33% (880) CES 120 = Complete China Index 1. Estimated data as of end July Full Market Value as of 30 Sep

10 CES 120 Complete China Concept CES China 120 Index (CES 120) Top 80 A shares + Top 40 HK-listed Mainland shares Shanghai TOP 5 SH Constituents 1. ICBC (601398) 2. PETROCHINA (601857) 3. ABC (601288) 4. BOC (601988) 5. SINOPEC (600028) CES A80 (80 A shares ) NORTHBOUND Shenzhen (56%) (16%) TOP 5 SZ Constituents 1. CHINA VANKE (000002) 2. MIDEA GROUP (000333) 3. PING AN(000001) 4. HIKVISION (002415) 5. GUOSEN SEC(002736) CES HKMI (40 HK-listed Mainland shares) SOUTHBOUND Hong Kong (45%) TOP 5 HK Constituents 1. Tencent (700) 2. China Mobile (941) 3. CCB (939) 4. CNOOC (883) 5. ICBC (1398) 41% of Stock Connect Eligible Stocks Data Source: CESC, as of 30 Sep

11 CES 120 Pioneer as Complete China Index CES120 Composed of A shares and Chinese stocks listed on HKEX The only index that covers the complete Chinese economy concept with futures The same time zone CES 120 MSCI China 0.3% 21% 45% 55% A share H, Red, P H, Red, P US B Share 79% MSCI China Includes B shares, H shares, Red chip, P chip and ADR Without A shares and planning to include A shares Different time zones Data Source:MSCI, CESC,June

12 CES yr Performance CES 120 CSI 300 HSCEI /31/11 10/31/12 10/31/13 10/31/14 10/31/15 10/31/16 Return Volatility 1 year 3 years 5 years 1 year 3 years 5 years CES % 26.28% 25.12% 18.26% 21.72% 20.23% CSI % 40.55% 23.78% 21.97% 26.20% 23.88% HSCEI -8.05% % -9.07% 21.65% 24.48% 22.79% Source: CESC, as at Oct 31, Volatility is based on Daily Return, with annualized basis of 250 trading days. 12

13 CES 120 Complete China Concept Index Specifications Futures Specifications Criteria Descriptions Item Contract Terms Index Objective Index Universe MV Screen Measures overall performance of Chinese companies listed on SEHK, SSE and/or SZSE. A share listed on SSE and SZSE and Chinese companies listed on SEHK, which satisfied specific conditions. A shares: Top 80 by average daily market cap HK Chinese stocks: Top 40 by average daily market cap Underlying Index HKATS Code Contract Multiplier Minimum Fluctuation CES China 120 Index (CES 120) CHH HK$50 per index point 0.5 index point Liquidity Screen Calculation Rebalancing Top 50% average daily turnover Free float adjusted, market cap weighted Half-yearly Contract Months Trading Hours Spot month; Next calendar month; Next two calendar quarter months 9:15 a.m. - 12:00 noon 1:00 p.m. - 4:30 p.m. Reserve List Yes Closing Index on 14 Nov , Contract Value USD 32k 13

14 Completing China Growth Story The Market CES 280 ( 17% Coverage) Mainland Equities in Mainland China and HK* CES 120 ( 40% Market Coverage) CES 120 ( 40% Coverage) CES 280 ( 17% Market Coverage) CES CES 280 ( 57% Market Coverage) offer investors different segment exposure *As of 31 Mar 2016, more than 95 per cent of market capitalisation of Mainland equities was listed in the Mainland China and Hong Kong markets (excluding ADRs and dual-listed companies). Sources: HKEX, SSE, SZSE, Wind, CSI. 14

15 CES 280 captures cross-border growth opportunities The CES China 280 Index (CES 280) is designed to supplement the large-cap CES China 120 Index (CES 120). CES 280 is a free float-adjusted market capitalisation weighted index that tracks performance of large to mid-cap Mainland companies (A shares, H shares, Red chips and Mainland Private Enterprises) listed on Shanghai Stock Exchange, Shenzhen Stock Exchange and HKEx. CES 280 is launched on 7 July 2014 at a base level of 2,000 and base date of 31 December At present, CES 280 and CES 120 together cover about 70 per cent of the market capitalisation of the Mainland stocks listed in the three markets. MV Coverage 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% CES 120 Smallest MV: RMB31.6 bn No. of A Shares: 80 No. of HK Stocks:40 CES 280 Smallest MV: RMB8.6 bn No. of A Shares:200 No. of HK Stocks: No. of Stocks Sources: CSI, CSEC. Data as of 31 Mar

16 Cross-border Large/Mid Cap Index: CES /31/ /31/ /31/ /31/ /31/ /31/2016 CES 120 CES 280 Return Volatility 1 year 3 years 5 years 1 year 3 years 5 years CES % 26.28% 25.12% 18.26% 21.72% 20.23% CES % 26.38% 14.74% 21.64% 24.38% 22.36% Source: CESC, as at Oct 31, Volatility is based on Daily Return, with annualized basis of 250 trading days. 16

17 CES Cross Border Index Series A Shares CES TOP 5 Constituents KANGMEI PHARM KANGDEXIN CONSTR BANK BANK OF NANJING INDUSTRIAL SEC CES 120 HK Shares TOP 5 Constituents 1988 MINSHENG BANK 2018 AAC TECH 1088 CHINA SHENHUA 1099 SINOPHARM 2313 SHENZHOU INTL 80 TOP 5 Constituents CN PING AN MINSHENG BANK IND BANK VANKE MERCHANTS TOP 5 Constituents 700 TENCENT 941 CHINA MOBILE 939 CCB 1398 ICBC 3988 BOC Top 10 Constituents CES 280 CES 120 Yield (%) PE Ratio (Times) Index Free Float MV (CNY Bn) 4, , Market Value Coverage (%) 16.39% 40.00% Market Turnover Coverage (%) 15.05% 16.51% Source: CESC, as of Sep

18 CES 280: More Balanced Industry Distribution 35.00% 30.00% 25.00% CES 120 CES % 15.00% 10.00% 5.00% 0.00% Source: CESC, as of Sep

19 CES Index Series A-shares CES CHINA A80 INDEX CES CHINA 120 INDEX CES CHINA HK MAINLAND INDEX HK shares CES CHINA 280 INDEX CES STOCK CONNECT 300 INDEX CES STOCK CONNECT HK SELECT 100 CES GAMING TOP 10 CES P CHIP INDEX 19

20 Disclaimer All information contained herein (the Information ) is provided for reference only. China Exchanges Services Company Limited ( CESC ) endeavours to ensure the accuracy and reliability of the information but makes no warranty or representation as to its accuracy, completeness, reliability or suitability for any particular purpose. CESC accepts no liability (whether in tort or contract or otherwise) whatsoever to any person for any loss or damage arising from any inaccuracy or omission in the Information and/or from any decision, action or non-action based or in reliance upon the Information. None of the Information is intended to constitute investment advice and/or a recommendation to make (or refrain from making) any kind of investment decision. Any person intending to use the Information and/or any part thereof should seek independent professional advice. Distribution, redistribution, reproduction, modification, transmission, use, reuse and/or storage of the Information in whole or in part, in any form or by any means are strictly prohibited without the prior written permission of CESC. The Information is provided without warranties of any kind, either expressed or implied, including (but not limited to) warranties of merchantability, merchantable quality, title, fitness for a particular purpose, security and non-infringement. China Securities Index Co, Ltd will make its commercially reasonable endeavours to ensure the accuracy and reliability of the Information provided, but does not guarantee its accuracy and reliability and accepts no liability (whether in tort or in contract or otherwise) for any loss or damage suffered by any person arising from any inaccuracies or omissions and/or for any reliance placed on such Information China Exchanges Services Company Limited. All rights reserved. 20

21 Thank you! 21

CES SCHK100 Comprises the top 100 Hong Kong -listed stocks eligible for Stock Connect, excluding stocks of companies with both A and H shares

CES SCHK100 Comprises the top 100 Hong Kong -listed stocks eligible for Stock Connect, excluding stocks of companies with both A and H shares Hightlights CES SCHK1 Comprises the top 1 Hong Kong listed stocks eligible for Stock Connect, excluding stocks of companies with both A and H shares It is a unique Stock Connectrelated index that tracks

More information

CES SCHK100 Comprises the top 100 Hong Kong -listed stocks eligible for Stock Connect, excluding stocks of companies with both A and H shares

CES SCHK100 Comprises the top 100 Hong Kong -listed stocks eligible for Stock Connect, excluding stocks of companies with both A and H shares Hightlights CES SCHK Comprises the top Hong Kong listed stocks eligible for Stock Connect, excluding stocks of companies with both A and H shares It is a unique Stock Connectrelated index that tracks the

More information

CES SCHK100 Comprises the top 100 Hong Kong -listed stocks eligible for Stock Connect, excluding stocks of companies with both A and H shares

CES SCHK100 Comprises the top 100 Hong Kong -listed stocks eligible for Stock Connect, excluding stocks of companies with both A and H shares Hightlights CES SCHK1 Comprises the top 1 Hong Kong listed stocks eligible for Stock Connect, excluding stocks of companies with both A and H shares It is a unique Stock Connectrelated index that tracks

More information

CESC and CSI Joint Press Conference

CESC and CSI Joint Press Conference CESC and CSI Joint Press Conference 27.11.2012 1 Index Initiative 2 Mission Drivers An index that comprises listings from HKEx, Shanghai Stock Exchange and Shenzhen Stock Exchange is a natural starting

More information

CESC Index Report for August

CESC Index Report for August CESC Index Report for August China Exchanges Services Co Ltd (CESC) Highlights Trading under Shanghai Connect increased after approval was given for Shenzhen Connect. Northbound trading had a single-day

More information

CESC Index Report for November

CESC Index Report for November CESC Index Report for November China Exchanges Services Co Ltd (CESC) Highlights Mainland A shares outperformed Hong Kong stocks in November. The CES A80 surged 7.4 per cent. The CES 300 surged 3.7 per

More information

Hong Kong Market Report

Hong Kong Market Report Hong Kong Market Report Asia Securities Forum Jeffrey Chan Hong Kong Securities Association ECONOMIC PERFORMANCE 2 Key Economic Indicators 2011 2012 Q2 GDP (yoy, %) 4.9 1.5 2.9 1.8 CPI (yoy, %) 5.3 4.1

More information

Hang Seng Composite Index Series

Hang Seng Composite Index Series Hang Seng Composite Series June 2018 The Hang Seng Composite ("HSCI") offers a comprehensive Hong Kong market benchmark that covers about 95% of the total market capitalisation of companies listed on the

More information

Integration between China s Offshore and Onshore Equity Markets

Integration between China s Offshore and Onshore Equity Markets Integration between China s Offshore and Onshore Equity Markets Alton 香港交易所环球市场科股本证券与定息产品及货币联席主管 Lau 中华交易服务董事兼总裁 Assistant Vice President, Derivatives Trading, Global Markets, HKEx / 陈秉强 Assistant Vice

More information

CESC Annual Index Report 2016

CESC Annual Index Report 2016 CESC Annual Index Report 2016 China Exchanges Services Co., Ltd. (CESC) Highlights Hong Kong stocks outperformed Mainland A shares in 2016. CES A80 and CES SCHK100 were down 6.1 per cent and 1 per cent

More information

Hang Seng Indexes Announces Index Review Results

Hang Seng Indexes Announces Index Review Results 10 February 2017 Hang Seng Indexes Announces Index Review Results Hang Seng Indexes Limited ( Hang Seng Indexes ) today announced the results of its review of the Hang Seng Family of Indexes for the quarter

More information

Hang Seng Indexes Announces Index Review Results

Hang Seng Indexes Announces Index Review Results 6 February 2018 Hang Seng Indexes Announces Index Review Results Hang Seng Indexes Limited ( Hang Seng Indexes ) today announced the results of its review of the Hang Seng Family of Indexes for the quarter

More information

Macro Environment. By China Asset Management (Hong Kong) Limited

Macro Environment. By China Asset Management (Hong Kong) Limited This material is only intended for the internal use of the distributors of the Fund, and should not be distributed to any end investors. Macro Environment January 2015 By China Asset Management (Hong Kong)

More information

Market Outlook. Expect Hang Seng Index to test 28,000 in August led by H shares. Overweight Chinese banks with ICBC and CCB as top picks

Market Outlook. Expect Hang Seng Index to test 28,000 in August led by H shares. Overweight Chinese banks with ICBC and CCB as top picks 2 nd Aug, 2017 Market Outlook Eric Yuen ericyuen@masonhk.com GDP growth in U.S. and eurozone improved in 2Q17 compared with the previous quarter. GDP growth in China stood at 6.9% yoy in both 1Q17 and

More information

CPD Day 2016 Shanghai Stock Connect Margin Financing

CPD Day 2016 Shanghai Stock Connect Margin Financing CPD Day 2016 Shanghai Stock Connect Margin Financing Richard McKeown Joseph Lee 19 October 2016 Outline Taking security over listed shares Stock Connect - Shanghai (Nov 2014) / Shenzhen (Nov 2016) Common

More information

HKEX INVESTOR PRESENTATION. 9 May 2018

HKEX INVESTOR PRESENTATION. 9 May 2018 HKEX INVESTOR PRESENTATION 9 May 2018 Disclaimer The information contained in this document is for general informational purposes only and does not constitute an offer, solicitation, invitation or recommendation

More information

NEWS RELEASE. Launch of the CES China Private Elite Index

NEWS RELEASE. Launch of the CES China Private Elite Index NEWS RELEASE 24 January 2017 Launch of the CES China Private Elite Index China Exchanges Services Company Limited (CESC) launched its CES China Private Elite Index (CES P Elite), an index designed to capture

More information

NEWS RELEASE. CESC Launches CES SCHK Value Index, CES SCHK Moat Index and CES SCA Industry Top Index

NEWS RELEASE. CESC Launches CES SCHK Value Index, CES SCHK Moat Index and CES SCA Industry Top Index 28 December 2018 NEWS RELEASE CESC Launches CES SCHK Value Index, CES SCHK Moat Index and CES SCA Industry Top Index China Exchanges Services Company Limited (CESC) today (Friday) announced three new indices:

More information

November 2016 RESEARCH REPORT STOCK CONNECT - TOWARDS A MUTUAL MARKET FOR THE INTERESTS OF MAINLAND AND GLOBAL INVESTORS

November 2016 RESEARCH REPORT STOCK CONNECT - TOWARDS A MUTUAL MARKET FOR THE INTERESTS OF MAINLAND AND GLOBAL INVESTORS November 2016 RESEARCH REPORT STOCK CONNECT - TOWARDS A MUTUAL MARKET FOR THE INTERESTS OF MAINLAND AND GLOBAL INVESTORS CONTENTS Page Summary... 1 1. The Stock nnect pilot programme Unprecedented connectivity

More information

Bi-weekly Fund Flow Report

Bi-weekly Fund Flow Report Bi-weekly Fund Flow Report November 9, 2018 Hong Kong stocks rebounded in the past two weeks as Chinese policymakers stepped out to support the market and economic growth, meanwhile the mid-term election

More information

CESC Index Report for September

CESC Index Report for September CESC Index Report for September China Exchanges Services Co Ltd (CESC) Highlights CES SCHK100, which represents large cap stocks eligible for Southbound trading under Stock Connect, rose 1.4 per cent and

More information

For professional / institutional investors only TAPPING INTO A BROADER RANGE OF INVESTMENT OPPORTUNITIES AS CHINA MARKET OPENS UP

For professional / institutional investors only TAPPING INTO A BROADER RANGE OF INVESTMENT OPPORTUNITIES AS CHINA MARKET OPENS UP For professional / institutional investors only TAPPING INTO A BROADER RANGE OF INVESTMENT OPPORTUNITIES AS CHINA MARKET OPENS UP RISK FACTORS This document is a financial promotion for The First State

More information

CESC Index Report for May

CESC Index Report for May CESC Index Report for May China Exchanges Services Co., Ltd. (CESC) Highlights The stock markets performed well in May. Cross-border large-cap index CES China 120 Index, or CES 120, rose 4.8 per cent Private

More information

Hang Seng Corporate Sustainability Index Series

Hang Seng Corporate Sustainability Index Series Hang Seng Corporate Sustainability Index Series Description International focus on corporate sustainability encompassing environmental, social and corporate governance has risen dramatically in recent

More information

CESC Index Report for February

CESC Index Report for February CESC Index Report for February China Exchanges Services Company Limited Highlights Mainland and Hong Kong markets retreated along with Europe and the US. Broad-based equity indices in both markets fell

More information

HSBC China Growth Fund

HSBC China Growth Fund Important information: The Fund invests primarily in Chinese equities, including equity linked instruments linked to such securities. The Fund is subject to the concentration and emerging market risks

More information

Hang Seng Indexes Launches Hang Seng China New Economy Index and Hang Seng Stock Connect Sector Top Index

Hang Seng Indexes Launches Hang Seng China New Economy Index and Hang Seng Stock Connect Sector Top Index 31 August 2018 Hang Seng Indexes Launches Hang Seng China New Economy Index and Hang Seng Stock Connect Sector Top Index Hang Seng Indexes Company Limited ( Hang Seng Indexes ) will launch the Hang Seng

More information

2014 YEAR-END REPORT

2014 YEAR-END REPORT 2014 YEAR-END REPORT Performance of Hang Seng Family of Indexes in 2014 Hang Seng Index rose 1.3% in 2014, slightly lower than the 2.9% increase in 2013. Hang Seng China Enterprises Index rose 10.8%, much

More information

CSI Index Monthly Report. February 2015 Issue

CSI Index Monthly Report. February 2015 Issue CSI Index Monthly Report February 2015 Issue CSI Express Mainland stock market continued to dropping down in the first week of February but then marched all the way up to the level where it started falling

More information

REVISION OF THE STOCK OPTION POSITION LIMIT MODEL

REVISION OF THE STOCK OPTION POSITION LIMIT MODEL 15 May 2017 Briefing Session REVISION OF THE STOCK OPTION POSITION LIMIT MODEL Derivatives Trading Markets Division Agenda 1 Background and Progress 2 Details on Revised Stock Option Position Limit Model

More information

Getting Ready for Stock Connect V2 Shenzhen. Launching 5th December Markets and Securities Services

Getting Ready for Stock Connect V2 Shenzhen. Launching 5th December Markets and Securities Services Getting Ready for Stock Connect V2 Shenzhen Launching 5th December 2016 Markets and Securities Services Markets and Securities Services Many fund managers, especially those with prior experience in buying

More information

Market Outlook. Forecast a trading range of 21,300-22,800 for HSI but the risk is on the downside. Overweight HK and China property stocks

Market Outlook. Forecast a trading range of 21,300-22,800 for HSI but the risk is on the downside. Overweight HK and China property stocks 4 th Aug, 2016 Market Outlook Eric Yuen ericyuen@masonsec.com After a strong run in July, Hang Seng Index is presently trading at historical PER of 10.9x compared to 1-year, 3-year and 5-year average of

More information

Market Statistics 2017

Market Statistics 2017 Market Statistics 2017 Page 1. Records Set in 2017 1 2. Securities Market Statistics 2-15 3. China Dimension 16-17 4. Derivatives Market Statistics 18-21 5. LME Statistics 22 RECORDS SET IN 2017 Securities

More information

ASF Hong Kong Market Report

ASF Hong Kong Market Report ASF 2014 - Hong Kong Market Report November 2014 HONG KONG ECONOMY Economic Performance The Hong Kong economy attained a moderate growth in 2013 amid a still challenging external environment. The growth

More information

HANG SENG INDEXES ANNOUNCES INDEX REVIEW RESULTS

HANG SENG INDEXES ANNOUNCES INDEX REVIEW RESULTS 12 August 2016 HANG SENG INDEXES ANNOUNCES INDEX REVIEW RESULTS Hang Seng Indexes Limited ( Hang Seng Indexes ) today announced the results of its review of the Hang Seng Family of Indexes for the quarter

More information

Market Outlook. Expect Hang Seng Index to move within 23,500-25,000 but the risk is on the downside

Market Outlook. Expect Hang Seng Index to move within 23,500-25,000 but the risk is on the downside 4 th May, 2017 Market Outlook Eric Yuen ericyuen@masonhk.com Hang Seng Index climbed for four straight months with a cumulative gain of 11.9% in the first four months of the year. The rally in April is

More information

LMEprecious week four update

LMEprecious week four update LMEprecious week four update 07 August 2017 SETTING THE GLOBAL STANDARD Lots Volumes for LME Gold and LME Silver Combined ADV for week four was 7,728 lots, up from 7,467 lots in week three 14,000 LMEprecious

More information

HKEx Stock Options Revamp Fact Sheet 20 March 2013

HKEx Stock Options Revamp Fact Sheet 20 March 2013 HKEx Stock Options Revamp Fact Sheet 20 March 2013 Timeline: 20 March 2013 Launch of HKEx website s Stock Options Corner 2 May 2013 Introduction of new trading fee model Addition of fourth serial expiry

More information

DR. LI TAK SUM SHANGHAI HONG KONG DEVELOPMENT LECTURE 2016

DR. LI TAK SUM SHANGHAI HONG KONG DEVELOPMENT LECTURE 2016 DR. LI TAK SUM SHANGHAI HONG KONG DEVELOPMENT LECTURE 2016 Comparing Shanghai and Hong Kong as Financial Centres: Past, Present and Future A n t h o n y N e o h, Q C, S C C h i n e s e U n i v e r s i

More information

MSCI China A-Share Inclusion: A Long Term Catalyst For The Mainland China Equity Market

MSCI China A-Share Inclusion: A Long Term Catalyst For The Mainland China Equity Market KBA 3/31/2018 MSCI China A-Share Inclusion: A Long Term Catalyst For The Mainland China Equity Market Overview of the KraneShares Bosera MSCI China A Share ETF (NYSE: KBA) Info@kraneshares.com 1 Introduction

More information

Market Statistics 2013

Market Statistics 2013 Market Statistics 2013 Page 1. Records Set in 2013 1 2. Securities Market Statistics 2-13 3. China Dimension 14-15 4. Derivatives Market Statistics 16-18 5. LME Statistics 19 RECORDS SET IN 2013 Securities

More information

Market Statistics 2011

Market Statistics 2011 Market Statistics 2011 Page 1. Records Set in 2011 1 2. Securities Market Statistics 2-11 3. China Dimension 12-13 4. Derivatives Market Statistics 14-16 RECORDS SET IN 2011 Securities Market (HK$) Up

More information

The Myth of an Ideal Index

The Myth of an Ideal Index Luncheon Presentation for Actuarial Society of Hong Kong The Myth of an Ideal Index Vincent Kwan Director and General Manager 20 July 2005 Unveiling the Myth of an Ideal Index An Ideal Index = A Rising

More information

Tracking the Benefits of Growth

Tracking the Benefits of Growth Tracking the Benefits of Growth I. Introduction of the SZ-HK Stock Connect II. Key Features of Shenzhen Stock Market III. Universe of SZ-HK Stock Connect IV. Flagships of SZSE Index Family 1 2 Eligible

More information

CSI Index Monthly Report. January 2016 Issue

CSI Index Monthly Report. January 2016 Issue CSI Index Monthly Report January 2016 Issue CSI Express Mainland stock market suffered one more plunge in the beginning of 2016. Although the Circuit Breaker was dismantled in 4 days, the market continued

More information

Market Snapshot. Further re-rating of low valuation sectors ahead; high growth sectors to recover. Equity Research Investment Strategy.

Market Snapshot. Further re-rating of low valuation sectors ahead; high growth sectors to recover. Equity Research Investment Strategy. Equity Research Market Snapshot Further re-rating of low valuation sectors ahead; high growth sectors to recover Alex Fan, CFA SFC CE No. ADJ672 alexfan@gfgroup.com.hk +852 3719 1047 GF Securities (Hong

More information

Tracking the Benefits of Growth

Tracking the Benefits of Growth Tracking the Benefits of Growth I. Introduction of the SZ-HK Stock Connect II. Key Features of Shenzhen Stock Market III. Universe of SZ Connect IV. Flagships of SZSE Index Family 1 2 SZ-HK Stock Connect

More information

Investment Insights Southbound liquidity is a structural positive for H-shares+

Investment Insights Southbound liquidity is a structural positive for H-shares+ Investment Insights Southbound liquidity is a structural positive for H-shares+ October 17 We are seeing strong flows from mainland Chinese investors into a broad group of Hong Kong-listed Chinese equity

More information

China capital markets Be prepared to seize the investment opportunities INVESTOR GUIDE

China capital markets Be prepared to seize the investment opportunities INVESTOR GUIDE China capital markets Be prepared to seize the investment opportunities INVESTOR GUIDE China capital markets Be prepared to seize the investment opportunities 2 China is opening up new doors to investment

More information

First Chapter - What is Shanghai-Hong Kong Stock Connect? Shanghai-Hong Kong Stock Connect is a securities trading and clearing links programme to

First Chapter - What is Shanghai-Hong Kong Stock Connect? Shanghai-Hong Kong Stock Connect is a securities trading and clearing links programme to First Chapter - What is Shanghai-Hong Kong Stock Connect? Shanghai-Hong Kong Stock Connect is a securities trading and clearing links programme to be developed by Hong Kong Exchanges and Clearing Limited

More information

SGX China Equity Index Derivatives Monthly Commentary

SGX China Equity Index Derivatives Monthly Commentary 5:: PM 5:3: PM 6:: PM 6:3: PM 7:: PM 7:3: PM 8:: PM 8:3: PM 9:: PM 9:3: PM 1:: PM 1:3: PM 11:: PM 11:3: PM 12:: AM 12:3: AM 1:: AM 1:3: AM Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14

More information

CSI Index Monthly Report. February 2016 Issue

CSI Index Monthly Report. February 2016 Issue CSI Index Monthly Report February 2016 Issue CSI Express In February, mainland stock market bounced to the January platform and plunged again at the month end. CSI 300 Index was down by 2.33% to 2877.47

More information

CES China Cross Border Index Methodology

CES China Cross Border Index Methodology CES China Cross Border Index Methodology 4 th September 2017 Contents 1. Preface... - 2-2. Index Universe... - 3-3. Selection Criteria... - 4-4. Index Calculation... - 7-5. Maintenance of Constituent Shares...

More information

We expect Hang Seng Index to be highly volatile in the short term. Market Overview

We expect Hang Seng Index to be highly volatile in the short term. Market Overview 28 November Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 26,331.96-0.2% 6.5% -14.5% -11.3% HSCEI (H-Shares) 10,515.30-0.1% 4.5%

More information

Li & Fung Limited and Trinity Limited selected as constituent stocks of the Hang Seng Corporate Sustainability Index Series

Li & Fung Limited and Trinity Limited selected as constituent stocks of the Hang Seng Corporate Sustainability Index Series Li & Fung Limited and Trinity Limited selected as constituent stocks of the Hang Seng Corporate Sustainability Index Series Li & Fung Limited (SEHK: 00494) has been selected as a constituent stock of the

More information

Stock Connect Another Milestone

Stock Connect Another Milestone Stock Connect Another Milestone FAQ (Version Date: 10 April 2017) The information contained in this document is for general informational purposes only and does not constitute an offer, solicitation or

More information

For Managing the. Hang Seng SCHK Mainland China Banks Index

For Managing the. Hang Seng SCHK Mainland China Banks Index For Managing the Hang Seng SCHK Mainland China Banks Index Table of Contents Page 1. Overview 3 2. Management Responsibility 4 3. Constituent Eligibility 5 4. Index Review and Constituent Changes 6 5.

More information

CSI Index Monthly Report. November 2015 Issue

CSI Index Monthly Report. November 2015 Issue CSI Index Monthly Report November 2015 Issue CSI Express Mainland stock market climbed up in the first week of November and went flat until hit by a 5% drop at the end of the month. CSI 300 Index was up

More information

We expect Hang Seng Index to be highly volatile in the short term. Market Overview. Hang Seng Index Performance

We expect Hang Seng Index to be highly volatile in the short term. Market Overview. Hang Seng Index Performance 20 November Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 26,372.00 0.7% 3.2% -15.1% -9.9% HSCEI (H-Shares) 10,631.66 0.5% 4.0% -13.9%

More information

CSI Index Monthly Report. October 2015 Issue

CSI Index Monthly Report. October 2015 Issue CSI Index Monthly Report October 2015 Issue CSI Express Mainland stock market ended its 4-month-decline in October. CSI 300 Index was up by 10.34% to 3534.08 points. Shanghai Composite Index rose 10.80%

More information

Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Oversea Commodities and FX Market Overview

Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Oversea Commodities and FX  Market Overview 4 September 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 27,712.54-0.6% 0.1% -9.4% -0.1% HSCEI (H-Shares)

More information

FTSE Total China Connect Index

FTSE Total China Connect Index FTSE Russell Factsheet FTSE Total China Connect Index bmktitle1 The FTSE Total China Connect Index is designed to represent the performance of large and mid cap Chinese companies listed in or outside the

More information

FTSE Total China Connect Index

FTSE Total China Connect Index FTSE Russell Factsheet FTSE Total China Connect Index bmktitle1 The FTSE Total China Connect Index is designed to represent the performance of large and mid cap Chinese companies listed in or outside the

More information

We expect Hang Seng Index to have a technical support at 24,000. Market Overview

We expect Hang Seng Index to have a technical support at 24,000. Market Overview 30 October 2018 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 24,812.04 0.4% -10.7% -19.5% -12.4% HSCEI (H-Shares) 10,012.63-0.5%

More information

Market Statistics 2010

Market Statistics 2010 Market Statistics 2010 Page 1. Records Set in 2010 1 2. Securities Market Statistics 2-11 3. China Dimension 12-16 4. Derivatives Market Statistics 17-19 5. CCASS Statistics 20-21 6. Participant Statistics

More information

PRODUCT KEY FACTS STATEMENT

PRODUCT KEY FACTS STATEMENT Issuer: Hang Seng Investment Management Limited This is an exchange traded fund. PRODUCT KEY FACTS STATEMENT Hang Seng Index ETF 1 December 2017 This statement provides you with key information about the

More information

A share market after MSCI inclusion

A share market after MSCI inclusion A share market after MSCI inclusion Mar. 2018 Li Chen +86 10 66538641 chenli@csfounder.com Mar 2018 1 1: A-share Inclusion in MSCI indexes MSCI will include 231 China large cap A shares in the MSCI Emerging

More information

We expect Hang Seng Index to make a technical rebound in near term. Market Overview. Hang Seng Index Performance

We expect Hang Seng Index to make a technical rebound in near term. Market Overview. Hang Seng Index Performance 15 October 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 25,266.37-3.5% -4.1% -18.0% -11.2% HSCEI (H-Shares)

More information

Diversification Opportunities From Capturing China as an Asset Class An Overview of the KraneShares MSCI All China Index ETF (Ticker: KALL)

Diversification Opportunities From Capturing China as an Asset Class An Overview of the KraneShares MSCI All China Index ETF (Ticker: KALL) KALL 9/30/2018 Diversification Opportunities From Capturing as an Asset Class An Overview of the KraneShares MSCI All Index ETF (Ticker: KALL) Info@kraneshares.com Diversification may not protect against

More information

PRODUCT KEY FACTS STATEMENT

PRODUCT KEY FACTS STATEMENT Issuer: Hang Seng Investment Management Limited This is an exchange traded fund. 1 PRODUCT KEY FACTS STATEMENT Hang Seng China Enterprises Index ETF 30 April2018 This statement provides you with key information

More information

CSI Index Monthly Report. March 2015 Issue

CSI Index Monthly Report. March 2015 Issue CSI Index Monthly Report March 2015 Issue CSI Express Mainland stock market turned down in the first week of March but then rallied to a seven-year high. CSI 300 Index was up by 13.39% to 4051.20 points.

More information

BRIC (Brazil, Russia, India, China), Emerging Markets, Global Multi-Asset Income, QEP Global Active Value and QEP Global Quality

BRIC (Brazil, Russia, India, China), Emerging Markets, Global Multi-Asset Income, QEP Global Active Value and QEP Global Quality Schroder International Selection Fund Société d'investissement à Capital Variable 5, rue Höhenhof, L-1736 Senningerberg Grand Duchy of Luxembourg Tel : (+352) 341 342 202 Fax : (+352) 341 342 342 IMPORTANT:

More information

China: Beyond the headlines. Bill Maldonado HSBC Global Asset Management

China: Beyond the headlines. Bill Maldonado HSBC Global Asset Management China: Beyond the headlines Bill Maldonado HSBC Global Asset Management Are you a China Bull or a Bear? Source: Various news publications 2 Bear myth #1: Hard landing? GDP: Growth is slowing, but it s

More information

CSI Index Monthly Report. September 2015 Issue

CSI Index Monthly Report. September 2015 Issue CSI Index Monthly Report September 2015 Issue CSI Express Mainland stock market went sideways in September. CSI 300 Index was down by 4.86% to 3202.95 points. Shanghai Composite Index dropped 4.78% to

More information

We expect Hang Seng Index to hover between 27,000 and 28,800 but the risk is on the upside. Market Overview. Hang Seng Index Performance

We expect Hang Seng Index to hover between 27,000 and 28,800 but the risk is on the upside. Market Overview. Hang Seng Index Performance 3 October 2018 Hang Seng Index Performance Source: Bloomberg Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 27,126.38-2.4% -2.7% -9.9% -1.6% HSCEI (H-Shares)

More information

The Year 2006 in Review. The Year 2006 in Review STOCK MARKET

The Year 2006 in Review. The Year 2006 in Review STOCK MARKET Fact Book 2006 The year 2006 in review Major events of the Hong Kong securities and derivatives markets 2006 Market highlights Securities market - Main board - market indices - listing statistics - market

More information

FTSE CHINA A50 INDEX Data as at: 31 January 2018

FTSE CHINA A50 INDEX Data as at: 31 January 2018 FTSE MONTHLY REPORT - JANUARY 2018 FTSE CHINA A50 INDEX Data as at: 31 January 2018 The is the benchmark for investors to access the China domestic market through A Shares - securities of companies incorporated

More information

HSBC Global Investment Funds Chinese Equity

HSBC Global Investment Funds Chinese Equity Important information: The Fund invests primarily in Chinese equities. The Fund is subject to the concentration and emerging market risks of investing in a single emerging market. The Fund may invest in

More information

ASF Hong Kong Market Report

ASF Hong Kong Market Report HONG KONG ECONOMY ASF 2016 - Hong Kong Market Report Background As everyone knows, Hong Kong has a very good geographic location, it is surround by sea and backup by a huge China market. HK has taken a

More information

HSBC Collective Investment Trust HSBC Asia Pacific ex Japan Equity Volatility Focused Fund

HSBC Collective Investment Trust HSBC Asia Pacific ex Japan Equity Volatility Focused Fund Important information: The Fund invests mainly in Asia Pacific ex Japan Equity. The Fund is subject to the risks of investing in emerging markets. The Fund may invest in financial derivative instruments

More information

China A-share market to thrive on economic growth and market improvements

China A-share market to thrive on economic growth and market improvements Invesco Investment Insights China A-share market to thrive on economic growth and market improvements January 2019 Kevin Chen Chief Investment Officer, Invesco Great Wall Key takeaways Market-structure

More information

Yum Cha 飲茶. May 8, 2018 TALKING POINT - HSI QUARTERLY REVIEW RESEARCH NOTES SNIPPETS. INDICES Closing DoD%

Yum Cha 飲茶. May 8, 2018 TALKING POINT - HSI QUARTERLY REVIEW RESEARCH NOTES SNIPPETS. INDICES Closing DoD% Yum Cha 飲茶 May 8, 28 INDICES Closing DoD% Hang Seng Index 29994.3.2 HSCEI 966.4.6 Shanghai COMP 336.6. Shenzhen COMP 822.2.9 Gold 34. (.) BDIY 384..6 Crude Oil, WTI(US$/BBL) 7.7.4 Crude Oil, BRENT(US$/BBL)

More information

The Manager does not intend to pay or make any distributions or dividends Financial year end:

The Manager does not intend to pay or make any distributions or dividends Financial year end: Issuer: Mirae Asset Global Investments (Hong Kong) Limited PRODUCT KEY FACTS Mirae Asset Horizons Leveraged and Inverse Series Mirae Asset Horizons Hang Seng China Enterprises Index Daily (-1x) Inverse

More information

CN Xtrackers MSCI All China Equity ETF

CN Xtrackers MSCI All China Equity ETF Xtrackers MSCI All China Equity ETF ETF.com segment: Equity: China - Total Market Competing ETFs: MCHI, GXC, ASHR, KBA, PEK Related ETF Channels: China, Total Market, Broad-based, Single Country, Vanilla,

More information

1.09% Trading currency: Hong Kong Dollars (HK$) -1.09% Exchange listing: SEHK Main Board

1.09% Trading currency: Hong Kong Dollars (HK$) -1.09% Exchange listing: SEHK Main Board Quick facts PRODUCT KEY FACTS Ping An MSCI China Multi-Factor ETF a sub-fund of the Ping An of China Trust (Stock Code: 3163) This is an exchange traded fund. This statement provides you with key information

More information

MSCI China A-Share Inclusion: A Long Term Catalyst For The Mainland Chinese Equity Market

MSCI China A-Share Inclusion: A Long Term Catalyst For The Mainland Chinese Equity Market KBA 6/30/2017 MSCI China A-Share Inclusion: A Long Term Catalyst For The Mainland Chinese Equity Market Overview of the KraneShares Bosera MSCI China A Share ETF (ticker: KBA) 1 Introduction Introduction

More information

Investment Daily. Market Overview. 20 June The Hang Seng Index is expected to trade at 25,800 to 26,100 today. Technical Analysis

Investment Daily. Market Overview. 20 June The Hang Seng Index is expected to trade at 25,800 to 26,100 today. Technical Analysis 20 June 2017 Major Market Indicators Mkt. Turn.(mn) 65,700 79,800 74,300 Stock Advances 952 753 515 Stock Declines 972 807 1,091 HSI 25,924 25,626 25,565 Change +298 +61-310 HSI Turn.($bn) 22.72 28.37

More information

Preparing for China s inclusion in global benchmarks

Preparing for China s inclusion in global benchmarks Research Preparing for China s inclusion in global benchmarks A flexible approach to managing the transition ftserussell.com October 2017 Executive summary: Following further increases in R/QFII allocations

More information

Hang Seng China A Industry Top Index Fund

Hang Seng China A Industry Top Index Fund IMPORTANT RISK WARNINGS/FUND INFORMATION FOR INVESTORS The investment objective of the Hang Seng China A Industry Top Index Fund (the Fund ) is to provide investment results that, before fees and expenses,

More information

We believe further upside for Hang Seng Index will be limited in near term. Market Overview. 17 November 2017

We believe further upside for Hang Seng Index will be limited in near term. Market Overview. 17 November 2017 17 November 2017 Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 29,018.76 0.58 1.12 14.73 30.35 HSCEI (H-Shares) 11,533.96 1.06-0.30

More information

Investment Opportunities: RMB Bonds

Investment Opportunities: RMB Bonds Titre de la presentation Europlace Shanghai 2010 Investment Opportunities: RMB Bonds Asian Local Currency Markets in Context Note: Local currency does not include government issuance Source: Dealogic,

More information

PRODUCT KEY FACTS. Quick Facts. What is this product?

PRODUCT KEY FACTS. Quick Facts. What is this product? PRODUCT KEY FACTS Mirae Asset Horizons Exchange Traded Funds Series- September 2018 Issuer: Mirae Asset Global Investments (Hong Kong) Limited This is an exchange traded fund. This statement provides you

More information

The Manager does not intend to pay or make any distributions or dividends Financial year end:

The Manager does not intend to pay or make any distributions or dividends Financial year end: Issuer: Mirae Asset Global Investments (Hong Kong) Limited PRODUCT KEY FACTS Mirae Asset Horizons Leveraged and Inverse Series Mirae Asset Horizons Hang Seng China Enterprises Index Daily (2x) Leveraged

More information

CES Stock Connect Index Methodology

CES Stock Connect Index Methodology CES Stock Connect Index Methodology 29 th November 2016 Contents 1. Preface... - 2-2. Index Universe... - 3-3. Selection Criteria... - 3-4. Index Calculation... - 5-5. Maintenance of Constituent Shares

More information

We expect Hang Seng Index to maintain a technical rebound in near term. Market Overview. `Hang Seng Index Performance

We expect Hang Seng Index to maintain a technical rebound in near term. Market Overview. `Hang Seng Index Performance 24 October 2018 `Hang Seng Index Performance Major Market Indicators % Change Hong Kong Close 1-Day 1-Mth 6-Mth 12-Mth Hang Seng Index 25,346.55-3.1% -7.8% -17.3% -10.0% HSCEI (H-Shares) 10,234.90-2.4%

More information

China A-share market to thrive on economic growth and market improvements

China A-share market to thrive on economic growth and market improvements Invesco Investment Insights China A-share market to thrive on economic growth and market improvements January 2019 Kevin Chen Chief Investment Officer, Invesco Great Wall Key takeaways Market-structure

More information

CSI Index Monthly Report. July 2017 Issue

CSI Index Monthly Report. July 2017 Issue CSI Index Monthly Report July 2017 Issue CSI Express In July, the mainland stock market followed a V-curve. CSI 300 Index was up by 1.94% to 3738 points and made an 18-month high. CSI 500 Index was up

More information

Renminbi ( RMB ) RMB counter Hong Kong dollars ( HKD ) HKD counter

Renminbi ( RMB ) RMB counter Hong Kong dollars ( HKD ) HKD counter PRODUCT KEY FACTS Haitong International Asset Management (HK) Limited April 2018 This is an exchange traded fund. This statement provides you with key information about this product. This statement is

More information

Hang Seng Investment Series (the Series )

Hang Seng Investment Series (the Series ) Hang Seng Investment Series (the Series ) Notice to Unitholders This document is important and requires your immediate attention. If you are in doubt about the contents of this document, you should seek

More information

Hang Seng Stock Connect Hong Kong Index Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index Hang Seng Stock Connect Hong Kong SmallCap Index

Hang Seng Stock Connect Hong Kong Index Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index Hang Seng Stock Connect Hong Kong SmallCap Index For Managing the Hang Seng Stock Connect Hong Kong Index Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index Hang Seng Stock Connect Hong Kong SmallCap Index Table of Content Page 1. Overview 2 2.

More information