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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mercari-inc" target="_blank" data-smartkarma-citation="entities:27149:1" rel="noopener">Mercari (4385 JP)</a>, <a href="https://www.smartkarma.com/entities/lasertec-corp" target="_blank" data-smartkarma-citation="entities:4126:1" rel="noopener">Lasertec (6920 JP)</a> and <a href="https://www.smartkarma.com/entities/nitori-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20386:1" rel="noopener">Nitori (9843 JP)</a> will replace <a href="https://www.smartkarma.com/entities/nippon-sheet-glass-co-ltd" target="_blank" data-smartkarma-citation="entities:9013:1" rel="noopener">Nippon Sheet Glass (5202 JP)</a>, <a href="https://www.smartkarma.com/entities/mitsui-e-s-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:2402:1" rel="noopener">Mitsui E&amp;S (7003 JP)</a> and <a href="https://www.smartkarma.com/entities/matsui-securities-co-ltd" target="_blank" data-smartkarma-citation="entities:6553:1" rel="noopener">Matsui Securities (8628 JP)</a> in the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225</a>.</li>
<li>As expected, <a href="https://www.smartkarma.com/entities/nitori-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20386:1" rel="noopener">Nitori Holdings (9843 JP)</a> will be added at half the planned PAF since the trading value is low compared to the expected index weight.</li>
<li>Passive trackers need to buy between 1-17 days of ADV on the adds while selling between 1.2-16.5 days of ADV on the deletes. There is a big funding trade too.</li>
</ul>



Mercari (4385 JP), Lasertec (6920 JP) and Nitori (9843 JP) will replace Nippon Sheet Glass (5202 JP), Mitsui E&amp;S (7003 JP) and Matsui Securities (8628 JP) in the Nikkei 225.
As expected, Nitori Holdings (9843 JP) will be added at half the planned PAF since the trading value is low compared to the expected index weight.
Passive trackers need to buy between 1-17 days of ADV on the adds while selling between 1.2-16.5 days of ADV on the deletes. There is a big funding trade too.


Nikkei 225 Index Rebalance: Mercari, Lasertec, Nitori IN; Nippon Glass, Mitsui E&S, Matsui Sec OUT

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>Today, somewhat earlier than expected), the Nikkei Index Team announced the changes to the Nikkei 225.</li>
<li>
<a href="https://www.smartkarma.com/entities/lasertec-corp" target="_blank" data-smartkarma-citation="entities:4126:1" rel="noopener">Lasertec Corp (6920 JP)</a>, <a href="https://www.smartkarma.com/entities/mercari-inc" target="_blank" data-smartkarma-citation="entities:27149:1" rel="noopener">Mercari (4385 JP)</a>, and <a href="https://www.smartkarma.com/entities/nitori-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:20386:1" rel="noopener">Nitori Holdings (9843 JP)</a> are added. <a href="https://www.smartkarma.com/entities/nippon-sheet-glass-co-ltd" target="_blank" data-smartkarma-citation="entities:9013:1" rel="noopener">Nippon Sheet Glass (5202 JP)</a>, <a href="https://www.smartkarma.com/entities/mitsui-e-s-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:2402:1" rel="noopener">Mitsui E&amp;S Holdings (7003 JP)</a>, and <a href="https://www.smartkarma.com/entities/matsui-securities-co-ltd" target="_blank" data-smartkarma-citation="entities:6553:1" rel="noopener">Matsui Securities (8628 JP)</a> removed.</li>
<li>That triggers flows of about ¥480bn a side, and some big, big changes. The announcement helps understand new process better.</li>
</ul>


Today, somewhat earlier than expected), the Nikkei Index Team announced the changes to the Nikkei 225.

Lasertec Corp (6920 JP), Mercari (4385 JP), and Nitori Holdings (9843 JP) are added. Nippon Sheet Glass (5202 JP), Mitsui E&amp;S Holdings (7003 JP), and Matsui Securities (8628 JP) removed.
That triggers flows of about ¥480bn a side, and some big, big changes. The announcement helps understand new process better.


September Nikkei 225 Review - Lasertec, Mercari, Nitori IN, Expected DELETEs Out (Matsui the Biggie)

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS.  NVIDIA Surges after hours on Beat,  Buyback; US Yields Fall after weak PMI; China Braces for Trust Defaults; India lands on the Moon; RUSSIA: Prigozhin off the board</li>
<li>JAPAN.  NKY Futures +0.6% vs Cash; USDJPY 144.8; Japan to allow broader defense exports; Kishida quandry: Spend more amid rising Debt Costs; Japan Govt Budget: 60bn Yen for AI </li>
<li>Japan X.  JFE Steel Adopts "Green Steel" for Low CO2 Emissions in Cargo Ship Construction . This is just the start of a trend we expect to accelerate. </li>
</ul>


OVERSEAS.  NVIDIA Surges after hours on Beat,  Buyback; US Yields Fall after weak PMI; China Braces for Trust Defaults; India lands on the Moon; RUSSIA: Prigozhin off the board
JAPAN.  NKY Futures +0.6% vs Cash; USDJPY 144.8; Japan to allow broader defense exports; Kishida quandry: Spend more amid rising Debt Costs; Japan Govt Budget: 60bn Yen for AI 
Japan X.  JFE Steel Adopts "Green Steel" for Low CO2 Emissions in Cargo Ship Construction . This is just the start of a trend we expect to accelerate. 


Ohayo Japan|NVIDIA Crushes Street #s - Stock Surges; JAPAN X: JFE Adopts "Green Steel"

<ul>
<li>OVERSEAS. US Stocks fall as Dicks Sporting and Macy's raises concerns over US consumer; US Tells China to be more Transparent on Economy; Traders Betting on Blow Out NVIDIA</li>
<li>JAPAN:  NKY Futures -0.3% vs Cash; USDJPY 145.9;  Japan Defense Ministry to ask for (another) Record Budget; 2 trillion yen request for GX spend in FY24. </li>
<li>JAPAN X:  Hitachi Introduces Innovative Executive Compensation Plan Tied to Stock Performance Against Competitors. Interesting structure-lights a fire under senior management. </li>
</ul>


OVERSEAS. US Stocks fall as Dicks Sporting and Macy's raises concerns over US consumer; US Tells China to be more Transparent on Economy; Traders Betting on Blow Out NVIDIA
JAPAN:  NKY Futures -0.3% vs Cash; USDJPY 145.9;  Japan Defense Ministry to ask for (another) Record Budget; 2 trillion yen request for GX spend in FY24. 
JAPAN X:  Hitachi Introduces Innovative Executive Compensation Plan Tied to Stock Performance Against Competitors. Interesting structure-lights a fire under senior management. 


Ohayo Japan|US Stocks Fall on Consumer Fears; JAPAN X: Hitachi Inspires with Mgmt Incentive Scheme

<ul>
<li>
OVERSEAS. US Yields spike to hit 16 year high; Stocks rise SPX closed +0.7% with Tech leading; China woes continue as forecasts cut; NVDIA and TSLA rebound on street optimism</li>
<li>
JAPAN.  NKY Futures +0.7% vs Cash; USDJPY 146.2;  BOJ on pace to buy record amt of bonds under new YCC regime;  Foreigners unloading JGBs; Japan DX market &gt; 2trn yen</li>
<li>
Japan X.  Flying Cars - investments pouring into the space globally. Skydrive, Japan's Flying Car beacon bearer, partners with Suzuki to to push the boundries in the space.  </li>
</ul>



OVERSEAS. US Yields spike to hit 16 year high; Stocks rise SPX closed +0.7% with Tech leading; China woes continue as forecasts cut; NVDIA and TSLA rebound on street optimism

JAPAN.  NKY Futures +0.7% vs Cash; USDJPY 146.2;  BOJ on pace to buy record amt of bonds under new YCC regime;  Foreigners unloading JGBs; Japan DX market &gt; 2trn yen

Japan X.  Flying Cars - investments pouring into the space globally. Skydrive, Japan's Flying Car beacon bearer, partners with Suzuki to to push the boundries in the space.  


Ohayo Japan|Yields Spike and Stocks UP?! Japan X: Flying Cars-Suzuki and SkyDrive's Aerial Ambitions

Japan

ADVANTEST CORPORATION produces semiconductor testing devices and electronic measuring instruments.  The Company's products include large-scale integration (LSI) test systems, memory test systems, dynamic test handlers, network analyzers, electronic meters, optical testing devices, and signal sources.

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Advantest Corp (6857 JP)

Nikkei 225 Index Rebalance: Mercari, Lasertec, Nitori IN; Nippon Glass, Mitsui E&S, Matsui Sec OUT

The adds are broadly flat since announcement of the changes. The deletes are higher and short interest has continued to increase. The stocks with...

Brian Freitas

September Nikkei 225 Review - Lasertec, Mercari, Nitori IN, Expected DELETEs Out (Matsui the Biggie)

Since the Sep 2023 Nikkei announcement 10 days ago, Lasertec flatlined vs Peers, Nitori popped, then underperformed what might loosely be...

Travis Lundy

Ohayo Japan|NVIDIA Crushes Street #s - Stock Surges; JAPAN X: JFE Adopts "Green Steel"

NVIDIA Surges after earnings beat, buyback; NKY Futures +0.6% vs Cash; USDJPY 144.8; Japan to allow broader defense exports; Kishida quandry: Spend...

Mark Chadwick

Ohayo Japan|US Stocks Fall on Consumer Fears; JAPAN X: Hitachi Inspires with Mgmt Incentive Scheme

US Equities down on Consumer spending concerns; NKY Futures -0.3% vs Cash; USDJPY 145.9; Japan Defense Ministry to ask for (another) Record...

Mark Chadwick

Ohayo Japan|Yields Spike and Stocks UP?! Japan X: Flying Cars-Suzuki and SkyDrive's Aerial Ambitions

Yields Spike and Stocks Up?! Huh? NKY Futures +0.7% vs Cash; USDJPY 146.2; BOJ on pace to buy record amt of bonds under new YCC regime; ...

Mark Chadwick

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