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>Following <a href="https://www.smartkarma.com/entities/exxon-mobil-corp" target="_blank" data-smartkarma-citation="entities:811:1" rel="noopener">Exxon Mobil (XOM US)</a>'s acquisition of <a href="https://www.smartkarma.com/entities/pioneer-natural-resources" target="_blank" data-smartkarma-citation="entities:10341:1" rel="noopener">Pioneer Natural Resources (PXD)</a>, <a href="https://www.smartkarma.com/entities/vistra-corp" target="_blank" data-smartkarma-citation="entities:27958:1" rel="noopener">Vistra (VST US)</a> will be added to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> at the close on 7 May.</li>
<li>
<a href="https://www.smartkarma.com/entities/marathon-digital-holdings-inc" target="_blank" data-smartkarma-citation="entities:33244:1" rel="noopener">Marathon Digital Holdings (MARA US)</a> is an add to the S&amp;P SmallCap 600 Index and the stock could move higher till implementation.</li>
<li>
<a href="https://www.smartkarma.com/entities/marathon-digital-holdings-inc" target="_blank" data-smartkarma-citation="entities:33244:1" rel="noopener">Marathon Digital Holdings (MARA US)</a> stock has underperformed its close peers this year and the ratio of <a href="https://www.smartkarma.com/entities/marathon-digital-holdings-inc" target="_blank" data-smartkarma-citation="entities:33244:1" rel="noopener">Marathon Digital Holdings</a> stock price to <a href="https://www.smartkarma.com/entities/bitcoin-usd" target="_blank" data-smartkarma-citation="entities:25895:1" rel="noopener">Bitcoin (XBTUSD CURNCY)</a> is near the lows.</li>
</ul>


Following Exxon Mobil (XOM US)'s acquisition of Pioneer Natural Resources (PXD), Vistra (VST US) will be added to the S&amp;P 500 INDEX (SPX INDEX) at the close on 7 May.

Marathon Digital Holdings (MARA US) is an add to the S&amp;P SmallCap 600 Index and the stock could move higher till implementation.

Marathon Digital Holdings (MARA US) stock has underperformed its close peers this year and the ratio of Marathon Digital Holdings stock price to Bitcoin (XBTUSD CURNCY) is near the lows.


S&P500 Index Rebalance: Bitcoin Miner Is a SPCY Add

Energy Transition | AI | Shifting World Order, Mint Finance

Suhas Reddy

Energy Transition | AI | Shifting World Order

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Thematic (Sector/Industry)

<ul>
<li>This paper contrasts performance of integrated oil exploration and refining firms ("Explorers") with oil refineries ("Refiners").</li>
<li>Hypothesis is that Refiners outperform Explorers when the crack spread widens. Back testing based on select firms proves the hypothesis.</li>
<li>This paper posits that Refiners will outdo Explorers when crack spreads tear based on historical performance.</li>
</ul>


This paper contrasts performance of integrated oil exploration and refining firms ("Explorers") with oil refineries ("Refiners").
Hypothesis is that Refiners outperform Explorers when the crack spread widens. Back testing based on select firms proves the hypothesis.
This paper posits that Refiners will outdo Explorers when crack spreads tear based on historical performance.


Widening Crack Spreads Enable Oil Refiners to Outdo Oil Explorers

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

<ul><li>A wave of mergers and acquisitions in the oil and gas sector has offered opportunities for Chinese companies to optimize their overseas assets, but uncertainty in the offshore investment environment is also rising, a report by a think tank part of state-owned oil giant China National Petroleum Corp. (CNPC) found.</li><li>The total value of global oil and gas mergers and acquisitions skyrocketed to more than $250 billion last year, including mega deals involving ExxonMobil and Chevron, making 2023 the largest upstream annual spend in more than a decade.</li><li>“The competitive landscape is reshaping, and the era of mega mergers in the industry has arrived,” Wu Moyuan, vice president of CNPC Economic and Technological Research Institute, said Wednesday at the release of the report.</li></ul>

A wave of mergers and acquisitions in the oil and gas sector has offered opportunities for Chinese companies to optimize their overseas assets, but uncertainty in the offshore investment environment is also rising, a report by a think tank part of state-owned oil giant China National Petroleum Corp. (CNPC) found.The total value of global oil and gas mergers and acquisitions skyrocketed to more than $250 billion last year, including mega deals involving ExxonMobil and Chevron, making 2023 the largest upstream annual spend in more than a decade.“The competitive landscape is reshaping, and the era of mega mergers in the industry has arrived,” Wu Moyuan, vice president of CNPC Economic and Technological Research Institute, said Wednesday at the release of the report.

Global Oil and Gas Consolidation Offers Chinese Firms Opportunities for Deals, Report Says 

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Macroeconomics

<ul>
<li>Some recent US data has been stronger than expected especially on the inflation front.</li>
<li>Japanese domestic economy confirmed to be  in recession as we expected</li>
<li>Both markets remain buoyant – the question is for how long?</li>
</ul>


Some recent US data has been stronger than expected especially on the inflation front.
Japanese domestic economy confirmed to be  in recession as we expected
Both markets remain buoyant – the question is for how long?


Strong US and Weak Japanese Data Shifts Interest Rate Expectations – Implications for Stock Markets?

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Metals Acquisition  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/metals-acquisition-corp-206b4b4c-e422-4777-bb84-419017ffff10" target="_blank" data-smartkarma-citation="entities:39082:1" rel="noopener">Metals Acquisition (MTAL US)</a> is looking to raise up to A$300m (US$197m) through its ASX secondary listing.  </li>
<li>The proceeds will be used to repay Glencore’s deferred consideration facility for the MTAL’s acquisition of its CSA copper mine, amongst other uses.</li>
<li>In this note, we will talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>



Metals Acquisition (MTAL US) is looking to raise up to A$300m (US$197m) through its ASX secondary listing.  
The proceeds will be used to repay Glencore’s deferred consideration facility for the MTAL’s acquisition of its CSA copper mine, amongst other uses.
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.


Metals Acquisition Ltd Secondary Listing - Too Much to Pay for a Single Asset

United States

Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a worldwide basis.  The Company's operations include exploration and production of oil and gas, electric power generation, and coal and minerals operations. Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals.

Price Gauge
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Exxon Mobil (XOM US)

S&P500 Index Rebalance: Bitcoin Miner Is a SPCY Add

ExxonMobil's acquisition will lead to Vistra being added to the SPX. Marathon Digital is an inclusion to the SmallCap 600 index and there could be...

Brian Freitas

Widening Crack Spreads Enable Oil Refiners to Outdo Oil Explorers

Pure play crude oil refining and marketing firms outperformed integrated oil E&P companies during times of widening crack oil spreads.

Mint Finance

Global Oil and Gas Consolidation Offers Chinese Firms Opportunities for Deals, Report Says

A wave of mergers and acquisitions in the oil and gas sector has offered opportunities for Chinese companies to optimize their overseas assets,...

Caixin Global

Strong US and Weak Japanese Data Shifts Interest Rate Expectations – Implications for Stock Markets?

US data stronger than expected, Japanese economy in recession as predicted, markets remain buoyant but uncertainty looms.

Rikki Malik

Metals Acquisition Ltd Secondary Listing - Too Much to Pay for a Single Asset

Metals Acquisition (MTAL US) is looking to raise up to A$300m (US$197m) through its ASX secondary listing. In this note, we talk about the deal...

Ethan Aw

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P500 Index Rebalance: Bitcoin Miner Is a SPCY Add

ExxonMobil's acquisition will lead to Vistra being added to the SPX. Marathon Digital is an inclusion to the SmallCap 600 index and there could be...

Brian Freitas

Widening Crack Spreads Enable Oil Refiners to Outdo Oil Explorers

Pure play crude oil refining and marketing firms outperformed integrated oil E&P companies during times of widening crack oil spreads.

Mint Finance

Global Oil and Gas Consolidation Offers Chinese Firms Opportunities for Deals, Report Says

A wave of mergers and acquisitions in the oil and gas sector has offered opportunities for Chinese companies to optimize their overseas assets,...

Caixin Global

Strong US and Weak Japanese Data Shifts Interest Rate Expectations – Implications for Stock Markets?

​US data stronger than expected, Japanese economy in recession as predicted, markets remain buoyant but uncertainty looms.

Rikki Malik

Metals Acquisition Ltd Secondary Listing - Too Much to Pay for a Single Asset

Metals Acquisition (MTAL US) is looking to raise up to A$300m (US$197m) through its ASX secondary listing. In this note, we talk about the deal...

Ethan Aw

US data stronger than expected, Japanese economy in recession as predicted, markets remain buoyant but uncertainty looms.