Ant IPO, Bilibili Q1, 618 Txheej xwm, Nio Q1 & Inclusion

Xov Xwm Tseem Ceeb

Cov khoom lag luam Asian tau qis dua ib hmos, Is Nrias teb tsawg dua li Hong Kong cov npe hauv internet rub rov qab tom qab nag hmo tus dab tsiv (los yog, raws li kuv cov phooj ywg Boston hais, Monstah!). Txij li lub Peb Hlis 15^th tsawg, Suav cov khoom lag luam hauv internet thiab Hong Kong cov khoom lag luam tau muaj kev txav mus los zoo li peb pom cov nyiaj tau los ib hmos. Cia peb pom yog tias lub dip yog yuav los ntawm cov thawj tswj hwm nyiaj txiag uas tsis muaj zog Tuam Tshoj hauv lawv cov EM thiab cov ntaub ntawv thoob ntiaj teb.

Tag kis no, kev sib tw ntaus pob tesniv tau tshwm sim los ntawm Ant Group IPO los ntawm kev tshaj tawm pej xeem ua raws li kev tsis lees paub. Leej twg paub, ho? Peb tau taw qhia tias cov xov xwm raws li "qhov chaw tsis muaj npe" yuav tsum tau noj nrog cov ntsev. Ib txoj hauv kev los txhawb cov ntaub ntawv yuav sib cav tias cov kws tshuaj ntsuam xyuas cov khoom siv Sum of the Parts (SOTP) tsom xam rau tus nqi ncaj ncees Alibaba, suav nrog lawv 1/3 tus tswv ntawm Ant. Tuam Tshoj Mainland tau tawm txawm tias lub Tsib Hlis muaj zog xa tawm ntawm +16.9% xyoo dhau los thiab cov ntaub ntawv ntshuam +4.1% YoY, uas cuam tshuam cov kev cia siab ntawm kev lag luam. Cov ntaub ntawv tseem ceeb hais tias Shanghai, qhov tseem ceeb ntawm kev lag luam, nyiaj txiag, thiab lub nroog chaw nres nkoj, tsuas yog 26 hli ntawm Tuam Tshoj tus 1.4B neeg. Qee qhov kev sib tham ntawm Covid cov xwm txheej tshiab hauv Shanghai thiab Beijing tau raug suav tias yog qhov ua rau muaj kev thim rov qab hnub no.

Bilibili (BILI US, 9626 HK) qhia Q1 cov txiaj ntsig nyiaj txiag tom qab Hong Kong kaw / ua ntej US kev lag luam qhib. Cov nyiaj tau los (+ 30% xyoo dhau ib xyoos) thiab kho EPS poob qhov kev cia siab, thaum lub tuam txhab Q2 kev pom zoo yeej qhov kev cia siab. Lub tuam txhab tshaj tawm tias nws yuav hloov nws cov chav kawm Hong Kong los ntawm kev muab khoom thib ob mus rau ob lub npe. Qhov kev hloov ntawd yuav ua rau cov khoom lag luam tsim nyog rau Southbound Stock Connect. Peb tus phooj ywg Matt pinged kuv ntawm cov ntaub ntawv los ntawm 618 kev muag khoom. Pib los ntawm JD.com, ob lub lis piam kev muag khoom yog lub caij nplooj ntoo hlav zoo ib yam li Alibaba lub Kaum Ib Hlis 11^th Singles Day kev muag khoom. JD.com tso tawm rau ntawm lawv lub vev xaib uas qhov muag pom thaum ntxov ntawm kev muag khoom muaj zog heev / + 100% xyoo dhau los hauv ntau pawg. Kuv pom cov xovxwm me me ntawm 618 qhov kev tshwm sim txawm tias cov tuam txhab lag luam e-lag luam tau txais txiaj ntsig (JD, BABA, PDD, VIPS). Nio (NIO US, 9866 HK) kuj tau tshaj tawm Q1 tom qab Hong Kong / pre-US lag luam qhib. Cov nyiaj tau los thiab EPS yeej cov kws tshuaj ntsuam kev cia siab txawm tias Q2 cov nyiaj tau los thiab kev kwv yees xa khoom tau ploj lawm.

Tom qab kaw hnub no, MSCI yuav tshaj tawm nws lub tebchaws hloov tshiab. Tsis muaj kev hloov pauv, tab sis nyob rau hauv txoj kev xav, kev tshuaj xyuas ntawm South Kauslim raws li kev lag luam tsim thiab / lossis pib Tuam Tshoj Kev suav nrog tuaj yeem tshwm sim. Tag kis Mainland ntim yuav siab dua li hauv Suav teb indexes rebalance. Peb kuj muaj Hang Seng indexes rebalancing. Nco ntsoov Nio yuav ntxiv rau qhov dav Hang Seng Composite thiab Hang Seng Tech Performance index.

Lub Hang Seng thiab Hang Seng Tech kaw -0.66% thiab -1.43% ntawm ntim -11.04% los ntawm nag hmo, uas yog 115% ntawm 1-xyoo nruab nrab. 157 cov khoom lag luam tau nce siab thaum 316 cov khoom lag luam poob qis. Hong Kong luv muag ntim tau poob los ntawm -16.56% los ntawm nag hmo, uas yog 118% ntawm 1-xyoo nruab nrab. Cov kaus mom loj underperformed me me caps thaum tus nqi thiab kev loj hlob yam 'kev ua tau zoo yog hais txog tib yam. Cov vaj tsev yog cov lag luam sab saum toj +1.89% ua raws li lub zog +0.44% thiab kev sib txuas lus +0.23% thaum staples -2.5%, tech -2.47% thiab industrials -2.43%. Cov khoom lag luam kev kawm yog qhov ua tau zoo tshaj plaws hauv ntu thaum Apple ecosystem thiab chaw nres nkoj cov khoom lag luam ua tsis tau zoo. Southbound Tshuag Txuas ntim tau nce siab hauv kev sib xyaw ua lag luam raws li Tencent tau muag me me thaum Kuaishou thiab Meituan tau yuav me me.

Shanghai, Shenzhen, thiab STAR Board tau tawm -0.76%, -1.81%, thiab -2.74% ntawm ntim -10.77% los ntawm nag hmo, uas yog 90% ntawm 1-xyoo nruab nrab. Muaj tsuas yog 632 cov khoom lag luam nce qib, thaum 3,825 cov khoom lag luam poob qis. Tus nqi outperformed kev loj hlob handily thaum lub kaus mom loj tshaj lub kaus mom me me. Cov vaj tsev yog cov lag luam sab saum toj +1.67% ua raws li nyiaj txiag +0.9% thiab lub zog +0.24% thaum txiav txim siab -2.64%, tech -2.38%, kev noj qab haus huv -2.05% thiab industrials -1.78%. Northbound Tshuag ntim tau nruab nrab raws li cov tub ua lag luam txawv teb chaws yuav $ 536mm ntawm Mainland stocks net ntawm kev muag khoom. Cov nyiaj tau txais txiaj ntsig tau sib sau ua ke, CNY tau sib sau ua ke piv rau US $, thiab tooj liab +0.18%.

Hmo Kawg Ntawm Kev Sib Pauv Cov Nqi, Tus Nqi, & Liaj Teb

• CNY / USD 6.67 piv rau 6.69 nag hmo
• CNY / EUR 7.15 piv rau 7.18 nag hmo
• Tos ntawm 10-Xyoo Tsoom Fwv Nyiaj 2.76% piv rau 2.77% nag hmo
• Tos ntawm 10-xyoo Tuam Tshoj Kev Tsim Kho Nyiaj Txiag Nyiaj 2.98% tiv tiag 2.99% nag hmo
• Tus Nqi Tooj Liab + 0.18% dhau ib hmo