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

Inner Mongolia Furui Medical Scie / Event-Driven

<ul>
<li>CSI announced the changes for the December rebalance after market close on 29 November and the changes will be effective after the close of trading on 13 December.</li>
<li>There are 3 changes for the index and we estimate passive buying of 0.7-1.4x ADV in the adds and selling of between 0.2-1x ADV in the deletes.</li>
<li>Trade performance has been horrible as the adds have moved sideways over the last two months and the deletes have skyrocketed - that could change in the next two weeks.</li>
</ul>


CSI announced the changes for the December rebalance after market close on 29 November and the changes will be effective after the close of trading on 13 December.
There are 3 changes for the index and we estimate passive buying of 0.7-1.4x ADV in the adds and selling of between 0.2-1x ADV in the deletes.
Trade performance has been horrible as the adds have moved sideways over the last two months and the deletes have skyrocketed - that could change in the next two weeks.


CSI Medical Service Index Rebalance: Three Changes; Brutal Underperformance Could Reverse

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.</li>
<li>The reference period for the December 2024 index rebal event ended recently. In this insight, we take a look at our final expected ADDs/DELs.</li>
<li>There has been no change to our list of expected changes presented in my last insight.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.
The reference period for the December 2024 index rebal event ended recently. In this insight, we take a look at our final expected ADDs/DELs.
There has been no change to our list of expected changes presented in my last insight.


Quiddity Leaderboard CSI Medical Dec 24: Final Rankings; Exp ADDs Underperforming Exp DELs

<ul>
<li>The review period ends on 31 October, the changes should be announced on 29 November and will be effective after the close of trading on 13 December.</li>
<li>We forecast 4 potential changes for the index in December where there could be buying of 0.5-3x ADV in the adds and selling of between 0.5-1.3x ADV in the deletes.</li>
<li>The forecast adds have drifted lower versus the forecast deletes following the rally in the markets and the large ETF creations. That could reverse from now till review period end.</li>
</ul>


The review period ends on 31 October, the changes should be announced on 29 November and will be effective after the close of trading on 13 December.
We forecast 4 potential changes for the index in December where there could be buying of 0.5-3x ADV in the adds and selling of between 0.5-1.3x ADV in the deletes.
The forecast adds have drifted lower versus the forecast deletes following the rally in the markets and the large ETF creations. That could reverse from now till review period end.


CSI Medical Service Index Rebalance Preview: Four Potential Changes in December

<ul>
<li>The December 2024 index review results for the CSI Medical Service Index were announced after market close on Friday 29th November 2024.</li>
<li>There will be 3 changes for the CSI Medical Service index.</li>
<li>We predicted all the changes correctly but we expected a couple of extra changes which did not materialize.</li>
</ul>


The December 2024 index review results for the CSI Medical Service Index were announced after market close on Friday 29th November 2024.
There will be 3 changes for the CSI Medical Service index.
We predicted all the changes correctly but we expected a couple of extra changes which did not materialize.


Quiddity CSI Medical Dec 24 Results: 3 Changes; All Expected; US$362mn One-Way

<ul>
<li>The review period ended on 31 October, the changes should be announced on 29 November and will become effective after the close of trading on 13 December.</li>
<li>We forecast 4 potential changes for the index in December. Estimated one-way turnover is 5.2% resulting in a round-trip trade of CNY 3.3bn (US$460m).</li>
<li>The forecast adds have continued to underperform the forecast deletes over the last few months as markets have rallied. That could change as positioning builds up ahead of announcement.</li>
</ul>


The review period ended on 31 October, the changes should be announced on 29 November and will become effective after the close of trading on 13 December.
We forecast 4 potential changes for the index in December. Estimated one-way turnover is 5.2% resulting in a round-trip trade of CNY 3.3bn (US$460m).
The forecast adds have continued to underperform the forecast deletes over the last few months as markets have rallied. That could change as positioning builds up ahead of announcement.


CSI Medical Service Index Rebalance Preview: Needs Resuscitation

China

Inner Mongolia Furui Medical Science Co Ltd. manufactures and sells hepatology C hinese medicines. The Company's products include anti-fibrosis drug, anti fattyliver disease medicine, and liver fibrosis testing instruments.

Inner Mongolia Furui Medical Scie (300049 CH)

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

Inner Mongolia Furui Medical Scie (300049 CH)

CSI Medical Service Index Rebalance: Three Changes; Brutal Underperformance Could Reverse

There are 3 changes for the index in December. The adds have underperformed the deletes over the last 2 months. Going by historical performance,...

Brian Freitas

Quiddity Leaderboard CSI Medical Dec 24: Final Rankings; Exp ADDs Underperforming Exp DELs

We expect the index changes to be announced after market close on 29th November 2024. We currently estimate one-way flow to be US$248mn. Most...

Janaghan Jeyakumar, CFA

CSI Medical Service Index Rebalance Preview: Four Potential Changes in December

There could be 4 changes for the CSI Medical Service Index in Dec. Trackers will need to trade between 0.5-3x ADV. The adds have underperformed as...

Brian Freitas

Quiddity CSI Medical Dec 24 Results: 3 Changes; All Expected; US$362mn One-Way

We estimate one-way flow to be US$362mn. The Inclusion/Exclusion events will take place at the close of trading on 13th December 2024.

Janaghan Jeyakumar, CFA

CSI Medical Service Index Rebalance Preview: Needs Resuscitation

We forecast 4 changes for the index in Dec. Estimated 1-way turnover is 5.2% resulting in a round-trip trade of CNY 3.3bn (US$460m). The adds have...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)