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>The review period for a global index commenced last week and will run through this week as well.</li>
<li>The announcement of the changes for the LQ45 Index should be announced in the coming week and will be implemented at the close on 31 January.</li>
<li>Huge inflows to <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-inde" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">CSI 300 Index</a> trackers during the week while there was a big outflow from <a href="https://www.smartkarma.com/entities/tracker-fund-of-hong-kong-ltd" target="_blank" data-smartkarma-citation="entities:29257:1" rel="noopener">Tracker Fund of Hong Kong (2800 HK)</a>. </li>
</ul>


The review period for a global index commenced last week and will run through this week as well.
The announcement of the changes for the LQ45 Index should be announced in the coming week and will be implemented at the close on 31 January.
Huge inflows to CSI 300 Index trackers during the week while there was a big outflow from Tracker Fund of Hong Kong (2800 HK). 


Index Rebalance & ETF Flow Recap: ASX, KS200, KQ150, HSIII, STTF, L&F, Costa Group, Japan, Bud APAC

<ul>
<li>With over 40% of the review period complete, there could be 15 changes for the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index (KOSDQ150 INDEX)</a> at the June rebalance.</li>
<li>There could be two changes before that if <a href="https://www.smartkarma.com/entities/l-f-co-ltd" target="_blank" data-smartkarma-citation="entities:14300:1" rel="noopener">L&amp;F Co Ltd (066970 KS)</a> and <a href="https://www.smartkarma.com/entities/hlb-inc" target="_blank" data-smartkarma-citation="entities:16969:1" rel="noopener">HLB Inc (028300 KS)</a> complete their transfer from the KOSDAQ market to the KOSPI market.</li>
<li>The adds have outperformed the deletes and the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index</a> since the start of the review period. The ban on short selling could lead to another leg up.</li>
</ul>


With over 40% of the review period complete, there could be 15 changes for the KOSDAQ 150 Index (KOSDQ150 INDEX) at the June rebalance.
There could be two changes before that if L&amp;F Co Ltd (066970 KS) and HLB Inc (028300 KS) complete their transfer from the KOSDAQ market to the KOSPI market.
The adds have outperformed the deletes and the KOSDAQ 150 Index since the start of the review period. The ban on short selling could lead to another leg up.


KOSDAQ150 Index Rebalance Preview: Potential Adds Soaring; Short Sell Ban Not Helping

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<ul>
<li>In this report, we review our IPO investment research in 2023, including the performance of our calls.</li>
<li>The accuracy rate of our calls on IPOs this year was 76% (16 calls right, 5 calls wrong), slightly below our average accurate rate of 77% from 2017 to 2022.</li>
<li>The average accuracy rate of our calls from 2017 to 2023 is 77%. We made 42 investment calls in 2020, 37 in 2021, 19 in 2022, and 21 in 2023.</li>
</ul>


In this report, we review our IPO investment research in 2023, including the performance of our calls.
The accuracy rate of our calls on IPOs this year was 76% (16 calls right, 5 calls wrong), slightly below our average accurate rate of 77% from 2017 to 2022.
The average accuracy rate of our calls from 2017 to 2023 is 77%. We made 42 investment calls in 2020, 37 in 2021, 19 in 2022, and 21 in 2023.


<ul>
<li>We discuss the end of the mandatory lock-up periods for 48 stocks in Korea in November 2023, among which 6 are in KOSPI and 42 are in KOSDAQ.</li>
<li>These 48 stocks on average could be subject to further selling pressures in November and could underperform relative to the market.</li>
<li>Among these 48 stocks, top five market cap stocks include Doosan Robotics, Fadu, CanariaBio, Enchem, and Gigavis. </li>
</ul>


We discuss the end of the mandatory lock-up periods for 48 stocks in Korea in November 2023, among which 6 are in KOSPI and 42 are in KOSDAQ.
These 48 stocks on average could be subject to further selling pressures in November and could underperform relative to the market.
Among these 48 stocks, top five market cap stocks include Doosan Robotics, Fadu, CanariaBio, Enchem, and Gigavis. 


End of Mandatory Lock-Up Periods for 48 Companies in Korea in November 2023

<ul>
<li>In this insight, we discuss the potential inclusion and exclusion candidates for the KOSDAQ 150 rebalance in December 2023. </li>
<li>The 8 lowest market cap stocks in KOSDAQ 150 are among the main candidates to be excluded from the KOSDAQ 150 rebalance in December 2023.</li>
<li>Potential inclusions for KOSDAQ 150 rebalance in December 2023 include Fadu, GigaVis, Jeio, PhilEnergy, and Manyo Factory.</li>
</ul>


In this insight, we discuss the potential inclusion and exclusion candidates for the KOSDAQ 150 rebalance in December 2023. 
The 8 lowest market cap stocks in KOSDAQ 150 are among the main candidates to be excluded from the KOSDAQ 150 rebalance in December 2023.
Potential inclusions for KOSDAQ 150 rebalance in December 2023 include Fadu, GigaVis, Jeio, PhilEnergy, and Manyo Factory.


KOSDAQ 150 Rebalance Candidates in December 2023

South Korea

GigaVis Co., Ltd. manufactures and distributes industrial machinery and electronic parts. The Company produces semiconductor automated optical inspection and repair equipment, giga vision inspection and factory automation machines, and other related products. GigaVis markets its products worldwide.

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

GigaVis (420770 KS)

Index Rebalance & ETF Flow Recap: ASX, KS200, KQ150, HSIII, STTF, L&F, Costa Group, Japan, Bud APAC

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

KOSDAQ150 Index Rebalance Preview: Potential Adds Soaring; Short Sell Ban Not Helping

There could be 15 changes for the KOSDAQ150 Index in June. The potential adds have outperformed the deletes and the index since the start of the...

Brian Freitas

Recap of Our IPO Research in 2023

The accuracy rate of our calls on IPOs this year was 76% (16 calls right, 5 calls wrong), slightly below our average accurate rate of 77% from 2017...

Douglas Kim

End of Mandatory Lock-Up Periods for 48 Companies in Korea in November 2023

We discuss the end of the mandatory lock-up periods for 48 stocks in Korea in November 2023, among which 6 are in KOSPI and 42 are in KOSDAQ.

Douglas Kim

KOSDAQ 150 Rebalance Candidates in December 2023

In this insight, we discuss the potential inclusion and exclusion candidates for the KOSDAQ 150 rebalance in December 2023.

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)