In today’s briefing:
- SSE50 Index Rebalance: In Line with Forecasts; Trades Performing Well
- ECM Weekly (27th Nov 2022) – Growatt, Lygend, Sunshine Ins, Weilong, DPC, Daiei, Skymark, GoTo
- Socionext (6526 JP) TOPIX Inclusion – Great Performer Deserves Profit-Taking
- Last Week successful Event SPACE: Meituan, Link Admin/Pexa, DTAC/True, Medley
- Meituan 105 Buy Support
SSE50 Index Rebalance: In Line with Forecasts; Trades Performing Well
- There are 5 changes for the SSE50 Index that volition beryllium implemented astatine the adjacent connected 9 December. Passive selling connected a fewer deletions is beauteous large.
- We estimation a one-way turnover of 4.07% astatine the December rebalance starring to a one-way commercialized of CNY 3.36bn. Index arb enactment could adhd to the interaction connected the stocks.
- The adds person dropped implicit the past fewer months portion the deletes person moved higher. There could beryllium a reversion of that inclination till implementation of the changes.
Meituan 105 Buy Support
- Meituan (3690 HK) has immoderate large absorption hurdles to flooded and volition enactment arsenic tactical merchantability levels to question retired the 105 bargain zone.
- A tactical bounce backmost to 165 is connected the cards with 168/75 the precocious grade merchantability barrier. Secondary trendline absorption rests adjacent 185 arsenic the bigger merchantability zone.
- The bearish rising wedge stands retired arsenic the ascendant force. The enactment interruption warns of fallout aft a bounce effort backmost to 168. A anemic bounce would crook adjacent 160.
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