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/emerald-resources-nl" target="_blank" data-smartkarma-citation="entities:17495:1" rel="noopener">Emerald Resources Nl (EMR AU)</a> will be added to the <a href="https://www.smartkarma.com/entities/vaneck-vectors-junior-gold-miners-etf" target="_blank" data-smartkarma-citation="entities:32845:1" rel="noopener">VanEck Vectors Junior Gold Miners ETF (GDXJ US)</a> in March while there are 3 deletions for the index.</li>
<li>The constituent changes along with float and capping changes result in an estimated one-way turnover of 6.4% and a one-way trade of US$263m.</li>
<li>There are 9 stocks with more than US$10m to trade and 9 stocks with over 2x ADV to trade.</li>
</ul>



Emerald Resources Nl (EMR AU) will be added to the VanEck Vectors Junior Gold Miners ETF (GDXJ US) in March while there are 3 deletions for the index.
The constituent changes along with float and capping changes result in an estimated one-way turnover of 6.4% and a one-way trade of US$263m.
There are 9 stocks with more than US$10m to trade and 9 stocks with over 2x ADV to trade.


MV Global Junior Gold Miners Index Rebalance: Over US$500m to Trade

<ul>
<li>No constituent changes for the <a href="https://www.smartkarma.com/entities/vaneck-vectors-junior-gold-miners-etf" target="_blank" data-smartkarma-citation="entities:32845:1" rel="noopener">VanEck Vectors Junior Gold Miners ETF (GDXJ US)</a> in December. But there are a lot of float and capping changes.</li>
<li>Estimated one-way turnover is 2.6% resulting in a round-trip trade of US$269m. There are 8 stocks with over 1x ADV to trade from passive trackers.</li>
<li>Stocks with the largest flows are <a href="https://www.smartkarma.com/entities/evolution-mining-ltd" target="_blank" data-smartkarma-citation="entities:18363:1" rel="noopener">Evolution Mining</a>, <a href="https://www.smartkarma.com/entities/pan-american-silver-corp-ce7d7ca6-59e0-44f1-958f-e5b679750b06" target="_blank" data-smartkarma-citation="entities:25937:1" rel="noopener">Pan American Silver</a>, <a href="https://www.smartkarma.com/entities/westgold-resources-ltd" target="_blank" data-smartkarma-citation="entities:24269:1" rel="noopener">Westgold Resources</a>, <a href="https://www.smartkarma.com/entities/b2gold-corp-fee72de9-9219-4f08-9e4a-eff9db71e070" target="_blank" data-smartkarma-citation="entities:33420:1" rel="noopener">B2Gold</a>, <a href="https://www.smartkarma.com/entities/alamos-gold-inc-75888dd6-1d65-427e-950c-393b5d90ab2e" target="_blank" data-smartkarma-citation="entities:38624:1" rel="noopener">Alamos Gold</a>, <a href="https://www.smartkarma.com/entities/harmony-gold-mining-co-ltd-d293fe94-bbca-4158-9fbf-32bc457dfbcd" target="_blank" data-smartkarma-citation="entities:28569:1" rel="noopener">Harmony Gold Mining</a>, <a href="https://www.smartkarma.com/entities/eldorado-gold-corp-e1b47e21-d9a5-4258-bd94-49cbea7538ec" target="_blank" data-smartkarma-citation="entities:38673:1" rel="noopener">Eldorado Gold</a>, <a href="https://www.smartkarma.com/entities/k92-mining-inc" target="_blank" data-smartkarma-citation="entities:43238:1" rel="noopener">K92 Mining</a>, <a href="https://www.smartkarma.com/entities/iamgold-corp-5935fec7-fa4d-4edb-bfdb-971f391ebb16" target="_blank" data-smartkarma-citation="entities:38714:1" rel="noopener">IAMGOLD</a>, <a href="https://www.smartkarma.com/entities/endeavour-silver-corp" target="_blank" data-smartkarma-citation="entities:38789:1" rel="noopener">Endeavour Silver</a> and <a href="https://www.smartkarma.com/entities/emerald-resources-nl" target="_blank" data-smartkarma-citation="entities:17495:1" rel="noopener">Emerald Resources</a>.</li>
</ul>


No constituent changes for the VanEck Vectors Junior Gold Miners ETF (GDXJ US) in December. But there are a lot of float and capping changes.
Estimated one-way turnover is 2.6% resulting in a round-trip trade of US$269m. There are 8 stocks with over 1x ADV to trade from passive trackers.
Stocks with the largest flows are Evolution Mining, Pan American Silver, Westgold Resources, B2Gold, Alamos Gold, Harmony Gold Mining, Eldorado Gold, K92 Mining, IAMGOLD, Endeavour Silver and Emerald Resources.


MV Global Junior Gold Miners Index Rebalance: Big Flow in Some Stocks

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 Jun 21st (reported today) which has an aggregated short interest worth USD19.1bn.</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 Telstra, BHP, Aristocrat Leisu, Sonic Healthcare, Treasury Wine, Fortescue, Westpac, NAB, ANZ.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jun 21st (reported today) which has an aggregated short interest worth USD19.1bn.
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 Telstra, BHP, Aristocrat Leisu, Sonic Healthcare, Treasury Wine, Fortescue, Westpac, NAB, ANZ.


ASX Short Interest Weekly (Jun 21st): Telstra, BHP, Aristocrat Leisure, Sonic Healthcare

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Apr 5th (reported today) which has an aggregated short interest worth USD19.1bn.</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 BHP, Treasury Wine, Northern Star Re, Flight Centre, Macquarie, Woodside Energy, Netwealth.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Apr 5th (reported today) which has an aggregated short interest worth USD19.1bn.
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 BHP, Treasury Wine, Northern Star Re, Flight Centre, Macquarie, Woodside Energy, Netwealth.


ASX Short Interest Weekly (Apr 5th): BHP, Treasury Wine, Northern Star Re, Flight Centre, Macquarie

<ul>
<li>Total short interest in Australia is A$34.46bn and has decreased by A$1.36bn in constant price terms since the start of the year.</li>
<li>The highest short interest is in <a href="https://www.smartkarma.com/entities/commonwealth-bank-of-australia" target="_blank" data-smartkarma-citation="entities:14:1" rel="noopener">Commonwealth Bank of Australia (CBA AU)</a>, <a href="https://www.smartkarma.com/entities/pilbara-minerals-ltd" target="_blank" data-smartkarma-citation="entities:7460:1" rel="noopener">Pilbara Minerals (PLS AU)</a>, <a href="https://www.smartkarma.com/entities/rio-tinto-ltd" target="_blank" data-smartkarma-citation="entities:13:1" rel="noopener">Rio Tinto Ltd (RIO AU)</a> and <a href="https://www.smartkarma.com/entities/goodman-group" target="_blank" data-smartkarma-citation="entities:959:1" rel="noopener">Goodman Group (GMG AU)</a>. </li>
<li>The largest increase in shorts as a percentage of shares outstanding is in <a href="https://www.smartkarma.com/entities/idp-education-ltd" target="_blank" data-smartkarma-citation="entities:1098:1" rel="noopener">IDP Education (IEL AU)</a>, <a href="https://www.smartkarma.com/entities/strike-energy-ltd" target="_blank" data-smartkarma-citation="entities:12473:1" rel="noopener">Strike Energy (STX AU)</a>, <a href="https://www.smartkarma.com/entities/emerald-resources-nl" target="_blank" data-smartkarma-citation="entities:17495:1" rel="noopener">Emerald Resources (EMR AU)</a> and <a href="https://www.smartkarma.com/entities/develop-global-ltd" target="_blank" data-smartkarma-citation="entities:19413:1" rel="noopener">Develop Global (DVP AU)</a>. </li>
</ul>


Total short interest in Australia is A$34.46bn and has decreased by A$1.36bn in constant price terms since the start of the year.
The highest short interest is in Commonwealth Bank of Australia (CBA AU), Pilbara Minerals (PLS AU), Rio Tinto Ltd (RIO AU) and Goodman Group (GMG AU). 
The largest increase in shorts as a percentage of shares outstanding is in IDP Education (IEL AU), Strike Energy (STX AU), Emerald Resources (EMR AU) and Develop Global (DVP AU). 


Australia Short Interest (Q1 2024): A Recap

Australia

Emerald Resources NL is an oil and gas exploration company with exploration activities in the United States and Australia.

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Emerald Resources Nl (EMR AU)

MV Global Junior Gold Miners Index Rebalance: Over US$500m to Trade

There is 1 add and 3 deletes for the GDXJ in March. The constituent changes along with float and capping changes result in an estimated one-way...

Brian Freitas

MV Global Junior Gold Miners Index Rebalance: Big Flow in Some Stocks

No constituent changes but float and capping changes result in an estimated one-way turnover of 2.6% and in a round-trip trade of US$269m. There...

Brian Freitas

ASX Short Interest Weekly (Jun 21st): Telstra, BHP, Aristocrat Leisure, Sonic Healthcare

We analyzed ASX short interest report for the past week and highlight short interest changes in Telstra, BHP, Aristocrat Leisu, Sonic Healthcare,...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Apr 5th): BHP, Treasury Wine, Northern Star Re, Flight Centre, Macquarie

We analyzed ASX short interest report for the past week and highlight short interest changes in BHP, Treasury Wine, Northern Star Re, Flight...

Ke Yan, CFA, FRM

Australia Short Interest (Q1 2024): A Recap

Total short interest in Australia is A$34.46bn and has decreased by A$1.36bn since the start of the year. We look at the stocks with the largest...

Brian Freitas

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52-week Range

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