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/berkshire-hathaway-inc-cl-b" target="_blank" data-smartkarma-citation="entities:8635:1" rel="noopener">Berkshire Hathaway Inc Cl B (BRK/B US)</a> held over 5% of <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple (AAPL US)</a>. Nearly half of that was sold in the June quarter to take the holding to 2.63%. </li>
<li>Berkshire's selling should result in an increase in <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple (AAPL US)</a>'s free float in 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> and other related indices.</li>
<li>There will also be large buying in <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple (AAPL US)</a> from the <a href="https://www.smartkarma.com/entities/technology-select-sector-spdr" target="_blank" data-smartkarma-citation="entities:27543:1" rel="noopener">Technology Select Sector SPDR (XLK US)</a> ETF if the proposals in the market consultation are implemented.</li>
</ul>



Berkshire Hathaway Inc Cl B (BRK/B US) held over 5% of Apple (AAPL US). Nearly half of that was sold in the June quarter to take the holding to 2.63%. 
Berkshire's selling should result in an increase in Apple (AAPL US)'s free float in the S&amp;P 500 INDEX (SPX INDEX) and other related indices.
There will also be large buying in Apple (AAPL US) from the Technology Select Sector SPDR (XLK US) ETF if the proposals in the market consultation are implemented.


Apple Inc (AAPL US): $43bn Passive Buying Driven by Berkshire Selling & Market Consultation

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

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.

Commodities

<ul>
<li>For the week ending 09/Aug, US crude inventories increased by 1.4 mb for the first time in seven weeks, contrary to analyst expectations of a 1.9 mb drawdown.</li>
<li>US natural gas inventories fell by 6 Bcf, its first decline since 04/Apr. However, storage levels are up 6.8% YoY and 13% above the 5-year seasonal average.</li>
<li>Wells Fargo, UBS, and BMO Capital reduced their target prices on Occidental. BMO Capital lowered its targets on Chevron and Halliburton but raised its target on Exxon Mobil.</li>
</ul>


For the week ending 09/Aug, US crude inventories increased by 1.4 mb for the first time in seven weeks, contrary to analyst expectations of a 1.9 mb drawdown.
US natural gas inventories fell by 6 Bcf, its first decline since 04/Apr. However, storage levels are up 6.8% YoY and 13% above the 5-year seasonal average.
Wells Fargo, UBS, and BMO Capital reduced their target prices on Occidental. BMO Capital lowered its targets on Chevron and Halliburton but raised its target on Exxon Mobil.


[ETP 2024/33] Oil Lost Gains to Demand Concerns and Unexpected Build in US Inventories

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>Tough Start to the Week -- Negative News for Nvidia and Apple Supply Chains</li>
<li>Key Events: Asustek &amp; Novatek Results; Mediatek &amp; TSMC July Sales Data</li>
<li>UMC Signals Non-AI Industry Inventory Correction Through 2024E; Why Intel Is Increasingly Important </li>
</ul>


Tough Start to the Week -- Negative News for Nvidia and Apple Supply Chains
Key Events: Asustek &amp; Novatek Results; Mediatek &amp; TSMC July Sales Data
UMC Signals Non-AI Industry Inventory Correction Through 2024E; Why Intel Is Increasingly Important 


Taiwan Tech Weekly: Tough Start for Nvidia and Apple Supply Chains; Asustek, Novatek Results Ahead

<ul>
<li>Occidental trades at higher PE and PB valuations than Exxon Mobil, Chevron, Shell, TotalEnergies, and BP. European oil majors are cheaper than American peers.  </li>
<li>Occidental has been the Permian Basin's leading oil and gas producer for the past five years. </li>
<li>Occidental expects to close the USD 12 billion CrownRock acquisition by August. The deal is anticipated to boost its oil output by 170k bpd. </li>
</ul>


Occidental trades at higher PE and PB valuations than Exxon Mobil, Chevron, Shell, TotalEnergies, and BP. European oil majors are cheaper than American peers.  
Occidental has been the Permian Basin's leading oil and gas producer for the past five years. 
Occidental expects to close the USD 12 billion CrownRock acquisition by August. The deal is anticipated to boost its oil output by 170k bpd. 


Berkshire's Bullish Bet on Occidental Fails to Sway Market Sentiments

<ul>
<li>The gap between OPEC and IEA’s oil demand forecasts widened: OPEC kept its 2024 forecast at 2.25m bpd, while IEA lowered its forecast to 960k bpd from 1.1m bpd.</li>
<li>Europe’s attempt to cut Russian LNG imports grows stronger, as the French Senate Committee recommends cutting Russian dependence.</li>
<li>Since 17/June, Energy majors began recovering. Berkshire increased its holdings in Occidental, while Shell expanded its LNG market access by acquiring Pavilion Energy.</li>
</ul>


The gap between OPEC and IEA’s oil demand forecasts widened: OPEC kept its 2024 forecast at 2.25m bpd, while IEA lowered its forecast to 960k bpd from 1.1m bpd.
Europe’s attempt to cut Russian LNG imports grows stronger, as the French Senate Committee recommends cutting Russian dependence.
Since 17/June, Energy majors began recovering. Berkshire increased its holdings in Occidental, while Shell expanded its LNG market access by acquiring Pavilion Energy.


[ETP 25/2024] Energy Majors Bounce Back; Their Expansion Spree Continues

United States

Berkshire Hathaway Inc. is a holding company owning subsidiaries in a variety of business sectors.  The Company's principal operations are insurance business conducted nationwide on a primary basis and worldwide on a reinsurance basis. Berkshire's other operations include a railway company, a specialty chemical company, and an international association of diversified businesses.

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Berkshire Hathaway Inc Cl B (BRK/B US)

Apple Inc (AAPL US): $43bn Passive Buying Driven by Berkshire Selling & Market Consultation

Berkshire selling increases Apple's float. Market consultation for the Select Sector indices increases Apple's weight in the XLK ETF. Together,...

Brian Freitas

[ETP 2024/33] Oil Lost Gains to Demand Concerns and Unexpected Build in US Inventories

US crude inventories unexpectedly rose, while natural gas inventories fell for the first time since April. Major brokerages lowered target prices...

Mint Finance

Taiwan Tech Weekly: Tough Start for Nvidia and Apple Supply Chains; Asustek, Novatek Results Ahead

Nvidia and Apple negative news sets the Taiwan Tech universe off to a tough start of the week. This week look for Asustek, Novatek, Himax results...

Vincent Fernando, CFA

Berkshire's Bullish Bet on Occidental Fails to Sway Market Sentiments

Berkshire buys Occidental shares for nine straight trading days between 5/Jun-17/Jun. Occidental has the largest acreage in the Permian and has...

Mint Finance

[ETP 25/2024] Energy Majors Bounce Back; Their Expansion Spree Continues

Oil prices rise on seasonal demand growth and Middle East conflicts. Henry Hub slides on the forecast of cooler temperatures next week. Energy...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Apple Inc (AAPL US): $43bn Passive Buying Driven by Berkshire Selling & Market Consultation

Berkshire selling increases Apple's float. Market consultation for the Select Sector indices increases Apple's weight in the XLK ETF. Together,...

Brian Freitas

[ETP 2024/33] Oil Lost Gains to Demand Concerns and Unexpected Build in US Inventories

​US crude inventories unexpectedly rose, while natural gas inventories fell for the first time since April. Major brokerages lowered target prices...

Mint Finance

Taiwan Tech Weekly: Tough Start for Nvidia and Apple Supply Chains; Asustek, Novatek Results Ahead

Nvidia and Apple negative news sets the Taiwan Tech universe off to a tough start of the week. This week look for Asustek, Novatek, Himax results...

Vincent Fernando, CFA

Berkshire's Bullish Bet on Occidental Fails to Sway Market Sentiments

Berkshire buys Occidental shares for nine straight trading days between 5/Jun-17/Jun. Occidental has the largest acreage in the Permian and has...

Mint Finance

[ETP 25/2024] Energy Majors Bounce Back; Their Expansion Spree Continues

Oil prices rise on seasonal demand growth and Middle East conflicts. Henry Hub slides on the forecast of cooler temperatures next week. Energy...

Mint Finance

US crude inventories unexpectedly rose, while natural gas inventories fell for the first time since April. Major brokerages lowered target prices...