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>With the review period complete, we forecast 9 changes for the <a href="https://www.smartkarma.com/entities/chinext-index" target="_blank" data-smartkarma-citation="entities:25483:1" rel="noopener">ChiNext Index (SZ399006 INDEX EQUITY)</a> and 5 changes for the ChiNext 50 Index in December.</li>
<li>Some of the potential adds will also have passive flows from the <a href="https://www.smartkarma.com/entities/csi-smallcap-500-index-shang" target="_blank" data-smartkarma-citation="entities:35347:1" rel="noopener">CSI Smallcap 500 Index</a> trackers at the same time as the <a href="https://www.smartkarma.com/entities/chinext-index" target="_blank" data-smartkarma-citation="entities:25483:1" rel="noopener">ChiNext Index</a> rebalance.</li>
<li>The potential adds have slipped a lot versus the potential deletes over the last few months as the National Team has tried to stabilise the market via ETF creations.</li>
</ul>


With the review period complete, we forecast 9 changes for the ChiNext Index (SZ399006 INDEX EQUITY) and 5 changes for the ChiNext 50 Index in December.
Some of the potential adds will also have passive flows from the CSI Smallcap 500 Index trackers at the same time as the ChiNext Index rebalance.
The potential adds have slipped a lot versus the potential deletes over the last few months as the National Team has tried to stabilise the market via ETF creations.


ChiNext/​​​ChiNext50 Index Rebalance Preview: Time for a Turnaround

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Luoyang Xinqianglian Slewing B / Event-Driven

<ul>
<li>CSI 300 represents the 300 largest stocks by market capitalization and liquidity from the entire universe of Shanghai and Shenzhen Stock Exchanges. CSI 500 represents the <em>next</em> largest 500 names.</li>
<li>During the periodic index rebalance events, a large number of stocks move into or out of these indices giving rise to significant flow events and attractive trading opportunities.</li>
<li>In this insight, we take a brief look at the index selection methodology and the historical price and volume performance of the CSI 300/500 index rebalance baskets.</li>
</ul>


CSI 300 represents the 300 largest stocks by market capitalization and liquidity from the entire universe of Shanghai and Shenzhen Stock Exchanges. CSI 500 represents the next largest 500 names.
During the periodic index rebalance events, a large number of stocks move into or out of these indices giving rise to significant flow events and attractive trading opportunities.
In this insight, we take a brief look at the index selection methodology and the historical price and volume performance of the CSI 300/500 index rebalance baskets.


Quiddity Primer for CSI 300/500 Index Rebalance Events

<ul>
<li>The ChiNext Index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.</li>
<li>The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.</li>
<li>In this insight, we have presented our final expectations for ADDs and DELs for the upcoming index rebal event in December 2024.</li>
</ul>


The ChiNext Index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.
The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.
In this insight, we have presented our final expectations for ADDs and DELs for the upcoming index rebal event in December 2024.


Quiddity Leaderboard ChiNext Dec 24: Several Last-Minute Surprises; New Trade Idea

<ul>
<li>With the review period complete, we forecast 8 changes for the <a href="https://www.smartkarma.com/entities/chinext-index" target="_blank" data-smartkarma-citation="entities:25483:1" rel="noopener">ChiNext Index (SZ399006 INDEX)</a> and 5 changes for the ChiNext 50 Index in December.</li>
<li>The largest flows will be on stocks that are adds or deletes for both indices - and there are a few of those. Plus some overlaps with the <a href="https://www.smartkarma.com/entities/csi-smallcap-500-index-shang" target="_blank" data-smartkarma-citation="entities:35347:1" rel="noopener">CSI500 Index</a>.</li>
<li>With multiple index inclusions in December, <a href="https://www.smartkarma.com/entities/jiangsu-hoperun-software-co-ltd" target="_blank" data-smartkarma-citation="entities:3466:1" rel="noopener">Jiangsu Hoperun Software (300339 CH)</a> has a lot of stock to buy from passive trackers. There could be more buying in February and March.</li>
</ul>


With the review period complete, we forecast 8 changes for the ChiNext Index (SZ399006 INDEX) and 5 changes for the ChiNext 50 Index in December.
The largest flows will be on stocks that are adds or deletes for both indices - and there are a few of those. Plus some overlaps with the CSI500 Index.
With multiple index inclusions in December, Jiangsu Hoperun Software (300339 CH) has a lot of stock to buy from passive trackers. There could be more buying in February and March.


ChiNext/​​​ChiNext50 Index Rebalance Preview: Jiangsu Hoperun's Multiple Index Inclusions & Big Risk

<ul>
<li>The ChiNext Index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.</li>
<li>The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.</li>
<li>In this insight, we have presented our updated rankings for Potential ADDs and DELs for the upcoming index rebal event in December 2024.</li>
</ul>


The ChiNext Index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.
The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.
In this insight, we have presented our updated rankings for Potential ADDs and DELs for the upcoming index rebal event in December 2024.


Quiddity Leaderboard ChiNext Dec 24: US$400mn Expected Inflow for Jiangsu Hoperun

China

Intco Medical Technology Co.,Ltd. manufactures and distributes medical supplies. The Company produces disposable gloves, wheelchairs, gauzes, electrodes, and other products. Intco Medical Technology markets its products throughout China.

Price Gauge
52-week Range	0.00 - 0.00
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Dividend (Yield)	0.00

Intco Medical Technology Lt (300677 CH)

ChiNext/ChiNext50 Index Rebalance Preview: Time for a Turnaround

There could be 9 changes for the Chinext and 5 changes for the Chinext50 index in Dec. The adds have drifted lower vs the deletes and there could...

Brian Freitas

Quiddity Primer for CSI 300/500 Index Rebalance Events

We evaluated the performance of 1205+ unique past Index rebalance cases (ADDs and DELs) involving the CSI 300 index and CSI 500 index from December...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ChiNext Dec 24: Several Last-Minute Surprises; New Trade Idea

We estimate one-way flows of US$578mn for the ChiNext index rebalance and US$171mn for the ChiNext 50 rebalance in December 2024.

Janaghan Jeyakumar, CFA

ChiNext/ChiNext50 Index Rebalance Preview: Jiangsu Hoperun's Multiple Index Inclusions & Big Risk

Review period ends today. We see 8 Chinext, 5 Chinext50 changes. Jiangsu Hoperun will have US$430m to buy, plus flows from CSI trackers, plus...

Brian Freitas

Quiddity Leaderboard ChiNext Dec 24: US$400mn Expected Inflow for Jiangsu Hoperun

We estimate US$539mn and US$179mn one-way flows for ChiNext and ChiNext 50. Out of this, Jiangsu Hoperun (300339 CH) alone could see a massive...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ChiNext/​​​ChiNext50 Index Rebalance Preview: Time for a Turnaround

There could be 9 changes for the Chinext and 5 changes for the Chinext50 index in Dec. The adds have drifted lower vs the deletes and there could...

Brian Freitas

Quiddity Primer for CSI 300/500 Index Rebalance Events

We evaluated the performance of 1205+ unique past Index rebalance cases (ADDs and DELs) involving the CSI 300 index and CSI 500 index from December...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ChiNext Dec 24: Several Last-Minute Surprises; New Trade Idea

We estimate one-way flows of US$578mn for the ChiNext index rebalance and US$171mn for the ChiNext 50 rebalance in December 2024.

Janaghan Jeyakumar, CFA

ChiNext/​​​ChiNext50 Index Rebalance Preview: Jiangsu Hoperun's Multiple Index Inclusions & Big Risk

Review period ends today. We see 8 Chinext, 5 Chinext50 changes. Jiangsu Hoperun will have US$430m to buy, plus flows from CSI trackers, plus...

Brian Freitas

Quiddity Leaderboard ChiNext Dec 24: US$400mn Expected Inflow for Jiangsu Hoperun

We estimate US$539mn and US$179mn one-way flows for ChiNext and ChiNext 50. Out of this, Jiangsu Hoperun (300339 CH) alone could see a massive...

Janaghan Jeyakumar, CFA

ChiNext/ChiNext50 Index Rebalance Preview: Time for a Turnaround

ChiNext/ChiNext50 Index Rebalance Preview: Jiangsu Hoperun's Multiple Index Inclusions & Big Risk