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

Index Rebalance

Cal Comp Electronics Thailand / Index Rebalance

<ul>
<li>There will be 4 changes for the <a href="https://www.smartkarma.com/entities/stock-exchange-of-thailand-set-50-index" target="_blank" data-smartkarma-citation="entities:31493:1" rel="noopener">Stock Exchange of Thailand SET 50 Index (SET50 INDEX)</a> at the close on 30 December.</li>
<li>All changes are in line with our forecasts and there appears to be positioning in all the stocks.</li>
<li>
<a href="https://www.smartkarma.com/entities/cal-comp-electronics-thailand-ef79c197-e6a6-4130-8221-aced0c735b11" target="_blank" data-smartkarma-citation="entities:20764:1" rel="noopener">Cal Comp Electronics Thailand (CCET TB)</a> will have the largest passive buying a percentage of free float and could be the stock to watch.</li>
</ul>


There will be 4 changes for the Stock Exchange of Thailand SET 50 Index (SET50 INDEX) at the close on 30 December.
All changes are in line with our forecasts and there appears to be positioning in all the stocks.

Cal Comp Electronics Thailand (CCET TB) will have the largest passive buying a percentage of free float and could be the stock to watch.


SET50 Index Rebalance: Four Changes; Cal Comp🚀

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Thematic (Sector/Industry)

<ul><li>Asian bourses mostly declined as concerns over US tariffs continued to pressure markets.</li><li>The SET had a brief rebound, supported by hospital and banking stocks, before plunging sharply due to a lack of new catalysts and weaker-than-expected 4Q24 earnings.</li><li>Large- cap stocks, including ADVANC, CPALL, GULF, PTTEP, and SCC, led the decline.</li></ul>

Asian bourses mostly declined as concerns over US tariffs continued to pressure markets.The SET had a brief rebound, supported by hospital and banking stocks, before plunging sharply due to a lack of new catalysts and weaker-than-expected 4Q24 earnings.Large- cap stocks, including ADVANC, CPALL, GULF, PTTEP, and SCC, led the decline.

Cross Asset Strategy

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,280/1,273 points and the resistance at 1,295 (10-day EMA)/1,300 points.</li><li>In the medium term, the index remains in a downtrend, forming a rounding-top pattern within the 1,220-1,506-point range.</li><li>In the short term, the index continues its downward trajectory (zig-zag down), with signs of further weakness emerging after a three-day rebound from the new low of 1,252 points on February 7. </li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,280/1,273 points and the resistance at 1,295 (10-day EMA)/1,300 points.In the medium term, the index remains in a downtrend, forming a rounding-top pattern within the 1,220-1,506-point range.In the short term, the index continues its downward trajectory (zig-zag down), with signs of further weakness emerging after a three-day rebound from the new low of 1,252 points on February 7. 

KTX Zoom - US Retail Sales and EU 4Q24 GDP Growth FEBRUARY 14, 2025

<ul><li>The SET Index is expected to weaken, with the support at 1,370/1,350 points and the resistance at 1,420/1,440 points.</li><li>Key highlights influencing the market include: i) the first 100-day policies after Trump's inauguration as US president on January 20, 2025, such as raising import tariffs on countries with trade surpluses with the US, expelling migrant workers, cutting corporate tax rates, ending the Russia-Ukraine war, and withdrawing from the Paris Agreement (clean energy);</li><li>ii) selling pressure from LTF maturity</li></ul>

The SET Index is expected to weaken, with the support at 1,370/1,350 points and the resistance at 1,420/1,440 points.Key highlights influencing the market include: i) the first 100-day policies after Trump's inauguration as US president on January 20, 2025, such as raising import tariffs on countries with trade surpluses with the US, expelling migrant workers, cutting corporate tax rates, ending the Russia-Ukraine war, and withdrawing from the Paris Agreement (clean energy);ii) selling pressure from LTF maturity

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 Stock Exchange of Thailand as of Jan 3rd.We estimate that they had an aggregated short interest worth USD1.9bn.</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 Cal-Comp Electronics, JMT Network Services, VGI, Delta Electronics, CP ALL, Kasikornbank, SCC.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Jan 3rd.We estimate that they had an aggregated short interest worth USD1.9bn.
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 Cal-Comp Electronics, JMT Network Services, VGI, Delta Electronics, CP ALL, Kasikornbank, SCC.


Thailand Short Interest Weekly (Jan 3rd): Cal-Comp Electronics, JMT Network Services, VGI

Thailand

Cal-Comp Electronics (Thailand) PCL is an original equipment manufacturer of computer peripheral, office equipment and consumer electronic products. Its products include desktop computers, CD-ROMS, web pads, MP3 players, integrated receiver decoders, fax machines, mobile phones, cordless phones, pagers, and transceivers.  The Company is part of Kinpo Group of Taiwan.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Cal Comp Electronics Thailand (CCET TB)

SET50 Index Rebalance: Four Changes; Cal Comp🚀

There are 4 changes for the SET50, in line with forecast. Cal Comp float is limited, and the stock could move higher - the stock should also be...

Brian Freitas

Technical Analysis - FEBRUARY 28, 2025

The SET had a brief rebound, supported by hospital and banking stocks, before plunging sharply due to a lack of new catalysts and weaker-than...

Krungthai XSpring

KTX Zoom - US Retail Sales and EU 4Q24 GDP Growth FEBRUARY 14, 2025

Technically, the SET Index is expected to move sideways down, with the support at 1,280/1,273 points and the resistance at 1,295 (10-day EMA)/1,300...

Krungthai XSpring

Monthly Report: January 2025

Clouded by concerns over the first 100-day measures following Trump's inauguration as US president. The SET Index is expected to weaken...

Krungthai XSpring

Thailand Short Interest Weekly (Jan 3rd): Cal-Comp Electronics, JMT Network Services, VGI

We analyzed SET short interest report for the past week and highlighted short interest changes in Cal-Comp Electronics, JMT Network Services, VGI,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)