Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run up to the June 2023 Rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/ventia-services-group" target="_blank" data-smartkarma-citation="entities:34917:1" rel="noopener">Ventia (VNT AU)</a> has appeared as a "surprise" potential addition to the ASX 200 index in June 2023 after recent block sales by top shareholders.</li>
<li>Including Ventia, we currently expect two ADDs and two DELs for the ASX 200 index in June 2023.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run up to the June 2023 Rebalance.

Ventia (VNT AU) has appeared as a "surprise" potential addition to the ASX 200 index in June 2023 after recent block sales by top shareholders.
Including Ventia, we currently expect two ADDs and two DELs for the ASX 200 index in June 2023.


Quiddity Leaderboard ASX Jun 23: Two ASX 200 Changes Likely, Including Ventia Surprise

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ventia-services-group" target="_blank" data-smartkarma-citation="entities:34917:1" rel="noopener">Ventia (VNT AU)</a> completed an A$300m placement overnight with Apollo and <a href="https://www.smartkarma.com/entities/cimic-group-ltd" target="_blank" data-smartkarma-citation="entities:20030:1" rel="noopener">CIMIC Group Ltd (CIM AU)</a> selling around 14% of the shares outstanding at a small discount to the close.</li>
<li>The placement will significantly increase <a href="https://www.smartkarma.com/entities/ventia-services-group" target="_blank" data-smartkarma-citation="entities:34917:1" rel="noopener">Ventia (VNT AU)</a>'s float and make the stock a high probability inclusion to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> at the June rebalance.</li>
<li>We now expect two changes to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> in June and the impact on the stocks is over 5.5 days of ADV to trade.</li>
</ul>



Ventia (VNT AU) completed an A$300m placement overnight with Apollo and CIMIC Group Ltd (CIM AU) selling around 14% of the shares outstanding at a small discount to the close.
The placement will significantly increase Ventia (VNT AU)'s float and make the stock a high probability inclusion to the S&amp;P/ASX 200 (AS51 INDEX) at the June rebalance.
We now expect two changes to the S&amp;P/ASX 200 (AS51 INDEX) in June and the impact on the stocks is over 5.5 days of ADV to trade.


Ventia (VNT AU) - Placement Could Lead to ASX200 Inclusion in June

Domain Holdings Australia  / Event-Driven

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run up to the June 2023 Rebalance.</li>
<li>Based on the latest data, I do not expect any changes for ASX 20, ASX 50, and ASX 100.</li>
<li>I expect <a href="https://www.smartkarma.com/entities/neuren-pharmaceuticals-ltd" target="_blank" data-smartkarma-citation="entities:4494:1" rel="noopener">Neuren Pharmaceuticals (NEU AU)</a> to be added to ASX 200 and <a href="https://www.smartkarma.com/entities/domain-holdings-australia-ltd" target="_blank" data-smartkarma-citation="entities:26033:1" rel="noopener">Domain Holdings Australia (DHG AU)</a> to be deleted from ASX 200.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run up to the June 2023 Rebalance.
Based on the latest data, I do not expect any changes for ASX 20, ASX 50, and ASX 100.
I expect Neuren Pharmaceuticals (NEU AU) to be added to ASX 200 and Domain Holdings Australia (DHG AU) to be deleted from ASX 200.


Quiddity Leaderboard ASX Jun 23: DHG Could Underperform Peers

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 changes in short interest of ASX Stocks as of Mar 31st (reported today) which has an aggregated short interest worth USD45.3bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Woodside Energy, Brambles, Liontown Resourc, Rio Tinto, Downer Edi.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Mar 31st (reported today) which has an aggregated short interest worth USD45.3bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Woodside Energy, Brambles, Liontown Resourc, Rio Tinto, Downer Edi.


ASX Short Interest Weekly (Mar 31st): Woodside Energy, Brambles, Liontown Resourc, Rio Tinto

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Mar 10th which has an aggregated short interest worth USD40.5bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We estimate the total short interest changes of -1.9% WoW and highlight short interest changes in BHP.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Mar 10th which has an aggregated short interest worth USD40.5bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We estimate the total short interest changes of -1.9% WoW and highlight short interest changes in BHP.


ASX Short Interest Weekly (Mar 10th): BHP

Australia

BrainChip Holdings Ltd operates as a holding company. The Company, through its subsidiaries, provides neural computing technology solutions. Brainchip Holdings offers artificial neural networks, software, and digital hardware solutions in Australia and the United States.

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BrainChip Holdings (BRN AU)

Quiddity Leaderboard ASX Jun 23: Two ASX 200 Changes Likely, Including Ventia Surprise

I would be LONG Ventia - SHORT Monadelphous & WorleyParsons because Ventia's ASX 200 inclusion could surprise some investors and I believe there is...

Janaghan Jeyakumar, CFA

Ventia (VNT AU) - Placement Could Lead to ASX200 Inclusion in June

Apollo & CIMIC sold 14% of Ventia yesterday. That increases Ventia's float and should result in ASX200 inclusion in June. The placement was...

Brian Freitas

Quiddity Leaderboard ASX Jun 23: DHG Could Underperform Peers

DHG could underperform peers over the next few weeks as the index deletion possibility could act as a catalyst and help its price ratios vs peers...

Janaghan Jeyakumar, CFA

ASX Short Interest Weekly (Mar 31st): Woodside Energy, Brambles, Liontown Resourc, Rio Tinto

We analyzed ASX short interest report for the past week and highlight short interest changes in Woodside Energy, Brambles, Liontown Resourc, Rio...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Mar 10th): BHP

We analyzed ASX short interest report for the past week (as of March 10th). We highlight the short interest changes in BHP.

Ke Yan, CFA, FRM

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