Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

Westgold Resources Limited provides gold mining services. The Company owns and operates gold mining projects. Westgold Resources conducts its business in Australia.

<ul>
<li>No constituent changes for the <a href="https://www.smartkarma.com/entities/vaneck-vectors-junior-gold-miners-etf" target="_blank" data-smartkarma-citation="entities:32845:1" rel="noopener">VanEck Vectors Junior Gold Miners ETF (GDXJ US)</a> in December. But there are a lot of float and capping changes.</li>
<li>Estimated one-way turnover is 2.6% resulting in a round-trip trade of US$269m. There are 8 stocks with over 1x ADV to trade from passive trackers.</li>
<li>Stocks with the largest flows are <a href="https://www.smartkarma.com/entities/evolution-mining-ltd" target="_blank" data-smartkarma-citation="entities:18363:1" rel="noopener">Evolution Mining</a>, <a href="https://www.smartkarma.com/entities/pan-american-silver-corp-ce7d7ca6-59e0-44f1-958f-e5b679750b06" target="_blank" data-smartkarma-citation="entities:25937:1" rel="noopener">Pan American Silver</a>, <a href="https://www.smartkarma.com/entities/westgold-resources-ltd" target="_blank" data-smartkarma-citation="entities:24269:1" rel="noopener">Westgold Resources</a>, <a href="https://www.smartkarma.com/entities/b2gold-corp-fee72de9-9219-4f08-9e4a-eff9db71e070" target="_blank" data-smartkarma-citation="entities:33420:1" rel="noopener">B2Gold</a>, <a href="https://www.smartkarma.com/entities/alamos-gold-inc-75888dd6-1d65-427e-950c-393b5d90ab2e" target="_blank" data-smartkarma-citation="entities:38624:1" rel="noopener">Alamos Gold</a>, <a href="https://www.smartkarma.com/entities/harmony-gold-mining-co-ltd-d293fe94-bbca-4158-9fbf-32bc457dfbcd" target="_blank" data-smartkarma-citation="entities:28569:1" rel="noopener">Harmony Gold Mining</a>, <a href="https://www.smartkarma.com/entities/eldorado-gold-corp-e1b47e21-d9a5-4258-bd94-49cbea7538ec" target="_blank" data-smartkarma-citation="entities:38673:1" rel="noopener">Eldorado Gold</a>, <a href="https://www.smartkarma.com/entities/k92-mining-inc" target="_blank" data-smartkarma-citation="entities:43238:1" rel="noopener">K92 Mining</a>, <a href="https://www.smartkarma.com/entities/iamgold-corp-5935fec7-fa4d-4edb-bfdb-971f391ebb16" target="_blank" data-smartkarma-citation="entities:38714:1" rel="noopener">IAMGOLD</a>, <a href="https://www.smartkarma.com/entities/endeavour-silver-corp" target="_blank" data-smartkarma-citation="entities:38789:1" rel="noopener">Endeavour Silver</a> and <a href="https://www.smartkarma.com/entities/emerald-resources-nl" target="_blank" data-smartkarma-citation="entities:17495:1" rel="noopener">Emerald Resources</a>.</li>
</ul>


No constituent changes for the VanEck Vectors Junior Gold Miners ETF (GDXJ US) in December. But there are a lot of float and capping changes.
Estimated one-way turnover is 2.6% resulting in a round-trip trade of US$269m. There are 8 stocks with over 1x ADV to trade from passive trackers.
Stocks with the largest flows are Evolution Mining, Pan American Silver, Westgold Resources, B2Gold, Alamos Gold, Harmony Gold Mining, Eldorado Gold, K92 Mining, IAMGOLD, Endeavour Silver and Emerald Resources.


MV Global Junior Gold Miners Index Rebalance: Big Flow in Some Stocks

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>The MV J-Gold Miners index represents the performance of small-cap and mid-cap gold and silver mining companies listed around the world.</li>
<li>There will be no index changes for the December 2024 rebal event.</li>
<li>We expect a one-way flow of US$168mm for December 2024, which translates to a turnover of 3.4%.</li>
</ul>


The MV J-Gold Miners index represents the performance of small-cap and mid-cap gold and silver mining companies listed around the world.
There will be no index changes for the December 2024 rebal event.
We expect a one-way flow of US$168mm for December 2024, which translates to a turnover of 3.4%.


[Quiddity Index] MVIS Junior Gold Miners Index Dec24 Rebalance Results: Flow Expectations

New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Equity Bottom-Up

Hallenstein Glassons Holdings / Equity Bottom-Up

Hallenstein Glasson Holdings Limited owns and operates retail stores that sell men's, women's, and young men's apparel products and sportswear. The stores are located throughout New Zealand and Australia.

<ul><li>Hallenstein Glassons (HLG) reported a strong 18-week trading update, with sales up c.+10% on the prior year.</li><li>Strong momentum in Glassons AU continues to offset softer New Zealand operating conditions, a trend which we expect to continue to play out in FY25. ​​​​​</li><li>We think the vastly improved retail fundamentals of its Glassons Australia business gives HLG license to expand its store base, which HLG is now actioning, targeting 2–5 net new stores per year in Australia over the medium term. </li></ul>

Hallenstein Glassons (HLG) reported a strong 18-week trading update, with sales up c.+10% on the prior year.Strong momentum in Glassons AU continues to offset softer New Zealand operating conditions, a trend which we expect to continue to play out in FY25. ​​​​​We think the vastly improved retail fundamentals of its Glassons Australia business gives HLG license to expand its store base, which HLG is now actioning, targeting 2–5 net new stores per year in Australia over the medium term. 

Hallenstein Glasson - Green and Gold Pastures

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Gold is a chemical element with the symbol Au (from Latin: aurum) and the atomic number 79. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements, and is solid under standard conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains, in rocks, in veins and in alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum) and also naturally alloyed with copper and palladium. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gold" target="_blank" data-smartkarma-citation="entities:22870:1" rel="noopener">Gold (GOLD COMDTY)</a> rebounded higher this week, after 2 weeks down, it is already getting  overbought according to our WEEKLY model, the remaining upside appears limited.</li>
<li>If you are actively trading Gold, in this insight we will analyze the current Gold patterns and show you why it may be too late to enter the trade here.</li>
<li>A better opportunity to enter LONG may come after another 1 or 2 weeks, when the market should pull back again.</li>
</ul>



Gold (GOLD COMDTY) rebounded higher this week, after 2 weeks down, it is already getting  overbought according to our WEEKLY model, the remaining upside appears limited.
If you are actively trading Gold, in this insight we will analyze the current Gold patterns and show you why it may be too late to enter the trade here.
A better opportunity to enter LONG may come after another 1 or 2 weeks, when the market should pull back again.


EQD | Gold’s Rally Leaves Latecomers Behind: Why You Should Wait for the Next Move

Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

Commodities

<ul><li>Outlook for 2025 across commodities sectors discussed</li><li>Bullish view on gold, base metals, and agricultural commodities</li><li>Neutral to bearish outlook on oil prices for 2025 and 2026</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Outlook for 2025 across commodities sectors discussedBullish view on gold, base metals, and agricultural commoditiesNeutral to bearish outlook on oil prices for 2025 and 2026This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities: 2025 Outlook: bullish on gold for third year; supply-constrained base metals ...

Gold
Midas Touch

MV Global Junior Gold Miners Index Rebalance: Big Flow in Some Stocks

No constituent changes but float and capping changes result in an estimated one-way turnover of 2.6% and in a round-trip trade of US$269m. There...

Brian Freitas

[Quiddity Index] MVIS Junior Gold Miners Index Dec24 Rebalance Results: Flow Expectations

The MVIS Junior Gold Miners Index rebalance was announced. The index rebal itself is on 20 Dec. There are no index changes but there are capping/re...

Travis Lundy

Hallenstein Glasson - Green and Gold Pastures

Strong momentum in Glassons AU continues to offset softer New Zealand operating conditions, a trend which we expect to continue to play out in...

Forsyth Barr

EQD | Gold’s Rally Leaves Latecomers Behind: Why You Should Wait for the Next Move

Gold rallied higher this week but it is already overbought, further upside is limited, according to our models. It is too late to enter the trade...

Nico Rosti

Global Commodities: 2025 Outlook: bullish on gold for third year; supply-constrained base metals ...

The annual outlook for commodity prices in 2025 predicts a small increase, with bullish trends in base metals and agricultural commodities, but...

At Any Rate

MV Global Junior Gold Miners Index Rebalance: Big Flow in Some Stocks

No constituent changes but float and capping changes result in an estimated one-way turnover of 2.6% and in a round-trip trade of US$269m. There...

Brian Freitas

[Quiddity Index] MVIS Junior Gold Miners Index Dec24 Rebalance Results: Flow Expectations

The MVIS Junior Gold Miners Index rebalance was announced. The index rebal itself is on 20 Dec. There are no index changes but there are capping/re...

Travis Lundy

Hallenstein Glasson - Green and Gold Pastures

Strong momentum in Glassons AU continues to offset softer New Zealand operating conditions, a trend which we expect to continue to play out in...

Forsyth Barr

EQD | Gold’s Rally Leaves Latecomers Behind: Why You Should Wait for the Next Move

​Gold rallied higher this week but it is already overbought, further upside is limited, according to our models. It is too late to enter the trade...

Nico Rosti

Global Commodities: 2025 Outlook: bullish on gold for third year; supply-constrained base metals ...

The annual outlook for commodity prices in 2025 predicts a small increase, with bullish trends in base metals and agricultural commodities, but...

At Any Rate

Gold rallied higher this week but it is already overbought, further upside is limited, according to our models. It is too late to enter the trade...