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>With a day to go in the review period, there could be 2 changes for the <a href="https://www.smartkarma.com/entities/ishares-china-large-cap-etf" target="_blank" data-smartkarma-citation="entities:766:1" rel="noopener">iShares China Large-Cap (FXI) (FXI US)</a> in June.</li>
<li>There should be more than 1x ADV to buy on one of the adds while there will be nearly 5x ADV to sell on one of the deletes.</li>
<li>There will be positioning in all the potential changes but there appears to be higher interest in one of the potential adds and one of the potential deletes.</li>
</ul>


With a day to go in the review period, there could be 2 changes for the iShares China Large-Cap (FXI) (FXI US) in June.
There should be more than 1x ADV to buy on one of the adds while there will be nearly 5x ADV to sell on one of the deletes.
There will be positioning in all the potential changes but there appears to be higher interest in one of the potential adds and one of the potential deletes.


FXI Rebalance Preview: Cutoff Today; Two Changes Likely in June

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>SOUTHBOUND was again a net buyer for HK$18.6bn on strong two-way volumes. The top three net buys of the week were SOE banks. Some may be Central Huijin.</li>
<li>Some of this may be driven by the dividend w/h tax cancellation on H divs and by significant H-share discounts, but high-div CNOOC was the biggest net sell.</li>
<li>No end to the inflows, and HK valuations are not at a place where they would hamper continued flows. Alibaba making HK a Primary will spur more inflows over time.</li>
</ul>


SOUTHBOUND was again a net buyer for HK$18.6bn on strong two-way volumes. The top three net buys of the week were SOE banks. Some may be Central Huijin.
Some of this may be driven by the dividend w/h tax cancellation on H divs and by significant H-share discounts, but high-div CNOOC was the biggest net sell.
No end to the inflows, and HK valuations are not at a place where they would hamper continued flows. Alibaba making HK a Primary will spur more inflows over time.


HK Connect SOUTHBOUND Flows (To 24 May 2024); Strong Bank Buying and Tech Selling Continues

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of May 17th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Baba, Longfor, Li Auto, Techtronic Ind.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of May 17th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Baba, Longfor, Li Auto, Techtronic Ind.


HK Short Interest Weekly: Baba, Longfor, Li Auto, Techtronic Ind

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>China saw 3.9 trillion yuan shift from cash to bonds and wealth products in April 2024.</li>
<li>
<a href="https://www.smartkarma.com/entities/adani-enterprises-ltd" target="_blank" data-smartkarma-citation="entities:245:1" rel="noopener">Adani Enterprises (ADE IN)</a> has fully recovered the $30 billion stock loss from the Hindenburg Report.</li>
<li>
<a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group Holding (BABA US)</a> raised $4.5 billion via convertible bonds for buybacks and AI investments.</li>
</ul>


China saw 3.9 trillion yuan shift from cash to bonds and wealth products in April 2024.

Adani Enterprises (ADE IN) has fully recovered the $30 billion stock loss from the Hindenburg Report.

Alibaba Group Holding (BABA US) raised $4.5 billion via convertible bonds for buybacks and AI investments.


#4Business Buzz: Chinese Bond, Recovery in Adani, Alibaba & AI, Jio's Deal of 36000Cr

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Cross Asset Strategy

<ul>
<li>This week we look at the sale of Food Panda Taiwan to Uber and what is next for Southeast Asian operations, and we look at the management changes at <a href="https://www.smartkarma.com/entities/goto-gojek-tokopedia-tbk-pt" target="_blank" data-smartkarma-citation="entities:25976:1" rel="noopener">GoTo.</a>
</li>
<li>We also look at Lazada's latest capital raising, aCommerce's results, and <a href="https://www.smartkarma.com/entities/propertyguru-group-limited" target="_blank" data-smartkarma-citation="entities:28149:1" rel="noopener">PropertyGuru (PGRU US)</a>, which slipped back into the red in 1Q2024. </li>
<li>CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.</li>
</ul>


This week we look at the sale of Food Panda Taiwan to Uber and what is next for Southeast Asian operations, and we look at the management changes at GoTo.

We also look at Lazada's latest capital raising, aCommerce's results, and PropertyGuru (PGRU US), which slipped back into the red in 1Q2024. 
CrossASEAN Ground Zero is a thematic weekly product that focuses on key Southeast Asian themes and technology trends with a core focus on Indonesia.


CrossASEAN Ground Zero - Food Panda Sale, Lazada Fundraising, ACommerce, and PropertyGuru's Loss

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba Group Holding (BABA US)

FXI Rebalance Preview: Cutoff Today; Two Changes Likely in June

There are likely to be 2 changes for the FXI in June. Today is the price cutoff so there is a possibility of names moving around. One add and one...

Brian Freitas

HK Connect SOUTHBOUND Flows (To 24 May 2024); Strong Bank Buying and Tech Selling Continues

SOUTHBOUND flows continue to be strong. This week saw nearly HK$8bn bought on Banks and banks were top inflows. Some of this may be National Team...

Travis Lundy

HK Short Interest Weekly: Baba, Longfor, Li Auto, Techtronic Ind

We analyzed the latest HK SFC report for aggregate short position as of May 17th and highlight short interest changes in Baba, Longfor, Li Auto,...

Ke Yan, CFA, FRM

#4Business Buzz: Chinese Bond, Recovery in Adani, Alibaba & AI, Jio's Deal of 36000Cr

China shifts trillions from cash to bonds, Adani Enterprises recovers stock loss, Alibaba raises billions for buybacks and AI investments.

Nimish Maheshwari

CrossASEAN Ground Zero - Food Panda Sale, Lazada Fundraising, ACommerce, and PropertyGuru's Loss

This week we look at the sale of Food Panda Taiwan to Uber and what is next for Southeast Asian operations, and we look at the management changes...

Angus Mackintosh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

FXI Rebalance Preview: Cutoff Today; Two Changes Likely in June

There are likely to be 2 changes for the FXI in June. Today is the price cutoff so there is a possibility of names moving around. One add and one...

Brian Freitas

HK Connect SOUTHBOUND Flows (To 24 May 2024); Strong Bank Buying and Tech Selling Continues

SOUTHBOUND flows continue to be strong. This week saw nearly HK$8bn bought on Banks and banks were top inflows. Some of this may be National Team...

Travis Lundy

HK Short Interest Weekly: Baba, Longfor, Li Auto, Techtronic Ind

We analyzed the latest HK SFC report for aggregate short position as of May 17th and highlight short interest changes in Baba, Longfor, Li Auto,...

Ke Yan, CFA, FRM

#4Business Buzz: Chinese Bond, Recovery in Adani, Alibaba & AI, Jio's Deal of 36000Cr

​China shifts trillions from cash to bonds, Adani Enterprises recovers stock loss, Alibaba raises billions for buybacks and AI investments.

Nimish Maheshwari

CrossASEAN Ground Zero - Food Panda Sale, Lazada Fundraising, ACommerce, and PropertyGuru's Loss

This week we look at the sale of Food Panda Taiwan to Uber and what is next for Southeast Asian operations, and we look at the management changes...

Angus Mackintosh

China shifts trillions from cash to bonds, Adani Enterprises recovers stock loss, Alibaba raises billions for buybacks and AI investments.