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<Research>CICC Concerned About Positive Impact of Passive Funds on NTES-S/ BYD COMPANY/ ZTO EXPRESS-W After HSI Quarterly Review
Recommend 61 Positive 69 Negative 47 |
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Hang Seng Indexes Company has announced the results of its quarterly review, with MIDEA GROUP (00300.HK) and ZTO EXPRESS-W (02057.HK) being added to the blue-chip list. CICC has calculated passive fund flows and is focusing on the positive impact on NTES-S (09999.HK), BYD COMPANY (01211.HK), and ZTO EXPRESS-W, as well as the negative impact on CHINA LIT (00772.HK) and WH GROUP (00288.HK). According to the report, ZTO EXPRESS-W and NTES-S will require the most time for the HSI passive funds to flow in, with estimated inflows of USD128 million and USD218 million, taking around 2.8 and 1.4 days, respectively. On the outflow side, due to reduced weightings, WH GROUP and Hengan International are expected to see potential passive outflows of about USD11.62 million and USD2.91 million, with outflow times of around 0.3 days. Although there are no changes to the constituents of the HSCEI this time, changes in stock weightings mean NTES-S will require the most time for passive fund inflows, with an estimated USD63.94 million flowing in over about 0.4 days. For outflows, CHINA SHENHUA (01088.HK) and CCB (00939.HK) are expected to experience potential passive outflows of about USD6.03 million and USD18.7 million, with outflow times of around 0.06 days. For the HSTECH, NTES-S, which saw the largest increase in weighting due to a higher free float ratio, will require the most time for passive funds to flow in, with an estimated USD590 million flowing in over about 3.8 days. Newly included BYD COMPANY is anticipated to attract about USD2 billion in passive fund inflows, taking around 2.7 days. On the outflow side, CHINA LIT's current 0.49% weighting will result in about USD120 million in passive fund outflows, with an outflow time of around 4.7 days. Based on the adjustments to the Hang Seng Composite Index this time and the requirements for inclusion in Southbound Stock Connect, CICC predicted that BLOKS (00325.HK), GUMING (01364.HK), and MIXUE GROUP (02097.HK) may qualify for inclusion in Southbound Stock Connect. AASTOCKS Financial News |
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