Abstract: We analyzed 39 ADD and 25 DELETE stocks from the March 2026 HK Connect implementation event (T_imp 9 Mar 2026) across six event windows from baseline through four weeks post-implementation, with September 2025 (20 ADD, 20 DELETE) as our cross-cycle reference. ADD stocks reversed their WAI drawdown of -5.3% at implementation, returned +5.4% on WI0 and +7.2% through the first week (WI0-4), and faded to +1.1% by weeks 2 to 4. DELETE stocks declined -13.3% WI0-4 (21 of 25 negative), exceeded the September 2025 cycle result of -11.0%, and generated alpha of -12.5% versus HSI. Within ADD, Healthcare led at +16.0% (n=13) and Information Technology returned +9.2% (n=6), while the combined Consumer cohort was the weakest at -8.9% (2 of 8 positive). The largest individual movers were Xunce (3317 HK, +48.7% WI0-4) and DeepExi Tech (1384 HK, -57.7%) within ADD, and Hao Tian International (1341 HK, -42.6%) and Zonqing (1855 HK, -42.4%) within DELETE, where Connect ownership drawdown correlated r=0.51 with WI0-4 returns.
Hao Tian Intl, DEEPEXI TECHNOLOGY CO LTD-H, BRIGHT SMART, CHINA RESOURCES MEDICAL, SUNAC SERVICES, CONSUN PHARMACEUTICAL, DL, Datang Renewable, ZONQING ENVIRONMENTAL, BAIC MOTOR, CHINA CHUNLAI EDUCATION, CANGGANG RAILWAY, CARSGEN THERAPEUTICS, BANK OF EAST ASIA, BEIJING UBOX ONLINE TECHNOLOGY, AUTOSTREETS DEVELOPMENT, FENBI, WELLCELL HOLD, CIRRUS AIRCRAFT, JIANGXI RIMAG, PEGBIO CO-B, XUANZHU BIOPHARMACEUTICAL -H, SHENZHEN HIPINE PRECISION-H, GENFLEET THERAPEUTICS SHAN-H, AB&B BIO-TECH-B, FUJIAN HAIXI PHARMACEUTICA-H, CF PHARMTECH INC-H, GUOXIA TECHNOLOGY CO -H, 160 HEALTH INTERNATIONAL, SHANGHAI BAO PHARMA -H, QINGSONG HEALTH, SEYOND, QUANTGROUP HD, SHANGHAI ABLE DIGITAL SCIE-H, WEIQIAO TEXTILE, SHUI ON LAND, YORKEY OPTICAL, PATEO CONNECT TECHNOLOGY S-H, GOFINTECH INNOV, PAX GLOBAL TECHNOLOGY, XUNCE, LINGBAO GOLD, WASION, INSILICO, HUISHANG BANK, EEKA FASHION, Jiaxin Intl Resources, MIDEA REAL ESTATE, FANGZHOU, BUTONG, CTF SERVICES, SCICLONE PHARMACEUTICALS, GLOBAL NEW MATERIAL INTERNATIONAL, 51WORLD, JST, BEIJING CAPITAL INTERNATIONAL AIRPORT, JINGDONG INDUSTRIALS, NETDRAGON WEBSOFT, DIGITAL CHINA, ADICON, YSB, LEADS BIOLABS-B, NEWBORNTOWN, GREENTOWN MGMT, ADD IT
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