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>End December was the end of the review cutoff for a lot of indices that will rebalance within the next couple of months.</li>
<li>
<a href="https://www.smartkarma.com/entities/pexa-group-ltd" target="_blank" data-smartkarma-citation="entities:34716:1" rel="noopener">PEXA Group (PXA AU)</a> replaces <a href="https://www.smartkarma.com/entities/pendal-group-ltd" target="_blank" data-smartkarma-citation="entities:15795:1" rel="noopener">Pendal Group (PDL AU)</a> in 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 close on 12 January.</li>
<li>There were big outflows from Hong Kong and China focused ETFs led by <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index-etf" target="_blank" data-smartkarma-citation="entities:25:1" rel="noopener">Hang Seng H Share Index ETF (2828 HK)</a> and <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 Ltd (2800 HK)</a>.</li>
</ul>


End December was the end of the review cutoff for a lot of indices that will rebalance within the next couple of months.

PEXA Group (PXA AU) replaces Pendal Group (PDL AU) in the S&amp;P/ASX 200 (AS51 INDEX) at the close on 12 January.
There were big outflows from Hong Kong and China focused ETFs led by Hang Seng H Share Index ETF (2828 HK) and Tracker Fund of Hong Kong Ltd (2800 HK).


Index Rebalance & ETF Flow Recap: HSCEI, HSTECH, HSI, HSCI, KS200, KQ150, CSI300, SENSEX, LQ45, PSEi

<ul>
<li>Two thirds of the way through the review period, we see 15 potential index changes at the June rebalance that will be implemented at the close on 9 June.</li>
<li>We estimate a one-way turnover of 2.35% at the June rebalance leading to a one-way trade of CNY 5.57bn.</li>
<li>The potential adds have outperformed the potential deletes and the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX)</a> over the last six months, though there is some near-term deterioration.</li>
</ul>


Two thirds of the way through the review period, we see 15 potential index changes at the June rebalance that will be implemented at the close on 9 June.
We estimate a one-way turnover of 2.35% at the June rebalance leading to a one-way trade of CNY 5.57bn.
The potential adds have outperformed the potential deletes and the Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX) over the last six months, though there is some near-term deterioration.


CSI300 Index Rebalance Preview: Early Look at Potential Changes in June

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

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Positive COVID vaccine news has since led to bullish inflections in a staggering number of countries, ACWI-US included. Our current outlook is bullish. Buy dips. In this report we outline key technical levels across markets and highlight actionable ideas within our Financials &amp; Energy Sectors.

Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

As per the Financial Times ("FT") <a href="https://www.ft.com/content/4f88cb60-f8f7-11e6-bd4e-68d53499ed71" target="_blank">article</a> dated 24th Feb 2017, electric vehicle ("EVs") manufacturers and battery producers have been scrambling to secure supplies of Cobalt. This has been driven by the fact the a handful of hedge funds have purchased and stored Cobalt on expectations that the demand for EVs will pick up. Battery producers such as Panasonic, who supply Lithium Ion ("Li-ion") batteries to the likes of Tesla are hard pressed for supplies. As FT reported, prices have risen by more…

As per the Financial Times ("FT") article dated 24th Feb 2017, electric vehicle ("EVs") manufacturers and battery producers have been scrambling to secure supplies of Cobalt.   This has been driven by the fact the a handful of hedge funds have purchased and stored Cobalt on expectations that the demand for EVs will pick up. Battery producers such as Panasonic, who supply Lithium Ion ("Li-ion") batteries to the likes of Tesla are hard pressed for supplies.  As FT reported, prices have risen by more…

CHINA - Healthcare, Steel, Autos, Education, Research From Beijing

Scott Laprise/ 乐天虎

CHINA - Healthcare, Steel, Autos, Education

The market is expecting US tariffs on Chinese steel exports wrongly believing Chinese are major steel   exporters to the US.Steel exports to US from China are low at about 2.9mt in November. If the US adds more steel tariffs, it will have little impact to the steel market or prices but it will possibly cause a retaliation by the Chinese.China only exports 26% of Global Steel Exports, far lower than the 50% of their total global steel production. Most of Chinese steel exports go to other Asian…

The market is expecting US tariffs on Chinese steel exports wrongly believing Chinese are major steel   exporters to the US.Steel exports to US from China are low at about 2.9mt in November. If the US adds more steel tariffs, it will have little impact to the steel market or prices but it will possibly cause a retaliation by the Chinese.China only exports 26% of Global Steel Exports, far lower than the 50% of their total global steel production. Most of Chinese steel exports go to other Asian…

Market Is Wrong on US Tariffs for Chinese Steel

China

Inner Mongolia Junzheng Energy & Chemical Group Company Limited engages in power generation, power supply, heating power production and supply, trading and chemical products.  The Company's main products include electricity, calcium carbide, ferrosilicon, PVC, and caustic soda.

Inner Mngl Jnzhng Eng & Cmci Gp (601216 CH)

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Inner Mngl Jnzhng Eng & Cmci Gp (601216 CH)

Index Rebalance & ETF Flow Recap: HSCEI, HSTECH, HSI, HSCI, KS200, KQ150, CSI300, SENSEX, LQ45, PSEi

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

Brian Freitas

CSI300 Index Rebalance Preview: Early Look at Potential Changes in June

We forecast 15 changes to the index in June leading to a one-way turnover of 2.35% and a one-way trade of CNY 5.57bn. The potential adds have...

Brian Freitas

Bullish Inflections Around The World

In this report we outline key technical levels across markets and highlight actionable ideas within our Financials & Energy Sectors.

Vermilion Research

Future of Cobalt Vis-A-Vis EVs

As per the Financial Times ("FT") article dated 24th Feb 2017, electric vehicle ("EVs") manufacturers and battery producers have been scrambling to...

Ishita Jain

Market Is Wrong on US Tariffs for Chinese Steel

The market is expecting US tariffs on Chinese steel exports wrongly believing Chinese are major steel exporters to the US.Steel exports to US...

Scott Laprise/ 乐天虎

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)