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/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a> is a member of the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hang Seng Index</a>, <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">Hang Seng China Enterprises Index</a> and <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">Hang Seng TECH Index</a>, among others.</li>
<li>Capping of stocks at 8% of the index weight will lead to selling in <a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi (1810 HK)</a> at the close on 1 December, mainly from <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">Hang Seng TECH Index</a> trackers.</li>
<li>Relative underperformance vs the <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">HSTECH Index</a> from now to Tuesday will require passive to sell less stock, while outperformance will lead to increased passive selling. That opens up trading opportunities.</li>
</ul>



Xiaomi Corp (1810 HK) is a member of the Hang Seng Index, Hang Seng China Enterprises Index and Hang Seng TECH Index, among others.
Capping of stocks at 8% of the index weight will lead to selling in Xiaomi (1810 HK) at the close on 1 December, mainly from Hang Seng TECH Index trackers.
Relative underperformance vs the HSTECH Index from now to Tuesday will require passive to sell less stock, while outperformance will lead to increased passive selling. That opens up trading opportunities.


Xiaomi (1810 HK): Outperformance Leads to Passive Selling & Opens Up Trading Opportunities

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/zeekr-intelligent-technology-holding" target="_blank" data-smartkarma-citation="entities:36785:1" rel="noopener">ZEEKR (ZK US)</a>, a premium EV brand by <a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener">Geely Auto (175 HK)</a>, aims to raise around US$500m in its US listing.</li>
<li>Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.</li>
<li>We have looked at the company’s past performance and undertaken a peer comparison in our earlier notes. In this note, we will talk about valuations.</li>
</ul>



ZEEKR (ZK US), a premium EV brand by Geely Auto (175 HK), aims to raise around US$500m in its US listing.
Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.
We have looked at the company’s past performance and undertaken a peer comparison in our earlier notes. In this note, we will talk about valuations.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/zeekr-intelligent-technology-holding" target="_blank" data-smartkarma-citation="entities:36785:1" rel="noopener">ZEEKR (ZK US)</a>, a premium EV brand by <a href="https://www.smartkarma.com/entities/geely-automobile-holdings-ltd" target="_blank" data-smartkarma-citation="entities:127:1" rel="noopener">Geely Auto (175 HK)</a>, aims to raise around US$500m in its US listing.</li>
<li>Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.</li>
<li>We have looked at the company’s past performance in our earlier notes . In this note, we will undertake a peer comparison.</li>
</ul>



ZEEKR (ZK US), a premium EV brand by Geely Auto (175 HK), aims to raise around US$500m in its US listing.
Zeekr was formed in Mar 2021 as a JV between Geely and its founder. Its first model was launched in Apr 21 with deliveries starting in Oct 21.
We have looked at the company’s past performance in our earlier notes . In this note, we will undertake a peer comparison.


Zeekr Pre-IPO - Peer Comparison - Catching up with Little Spending

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>BABA/VIPS/PDD/3690.HK/JD: Social Retail Consumption data improved in October MoM (+)</li>
<li>700.HK: Tencent raises ownership stake in a Wuxia Genre Gaming Studio (+)</li>
<li>SE/ PDD/ BABA: Highlights of Sea Limited's  disappointing Q3 results(-)</li>
</ul>


BABA/VIPS/PDD/3690.HK/JD: Social Retail Consumption data improved in October MoM (+)
700.HK: Tencent raises ownership stake in a Wuxia Genre Gaming Studio (+)
SE/ PDD/ BABA: Highlights of Sea Limited's  disappointing Q3 results(-)


[Blue Lotus Daily - TMT Update]: BABA/ VIPS/PDD/JD/Meituan, 3690.HK/Tencent, 700.HK/SE

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<ul>
<li>Alibaba’s cloud servers experienced downtime for more than three hours.</li>
<li>Kuaishou achieved success in the Singles Day sales and we expect a high growth rate for “other revenue” in 3Q23.</li>
<li>Tims China’s revenue grew strongly with aggressive expansion of new stores.</li>
</ul>


Alibaba’s cloud servers experienced downtime for more than three hours.
Kuaishou achieved success in the Singles Day sales and we expect a high growth rate for “other revenue” in 3Q23.
Tims China’s revenue grew strongly with aggressive expansion of new stores.


China Consumption Weekly (20 Nov 2023): Alibaba, Kuaishou, Tencent Music, JD.com, Tims China

China

JD.com, Inc. is an online direct sales company in China. The Company offers a wide selection of products through its website and mobile applications. JD.com sells appliances, computers, digital products, communication products, garments, books, and household items to consumers and vendors.

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JD.com (9618 HK)

Xiaomi (1810 HK): Outperformance Leads to Passive Selling & Opens Up Trading Opportunities

There will be passive selling in Xiaomi from HSTECH trackers at the close on 1 Dec. Relative underperformance till Tuesday will lead to less...

Brian Freitas

Zeekr Pre-IPO - Thoughts on Valuation

ZEEKR (ZK US), a premium EV brand by Geely Auto (175 HK), aims to raise around US$500m in its US listing. In this note, we talk about valautions.

Sumeet Singh

Zeekr Pre-IPO - Peer Comparison - Catching up with Little Spending

ZEEKR (ZK US), a premium EV brand by Geely Auto (175 HK), aims to raise around US$500m in its US listing. In this note, we comapre Zeekr with its...

Sumeet Singh

[Blue Lotus Daily - TMT Update]: BABA/ VIPS/PDD/JD/Meituan, 3690.HK/Tencent, 700.HK/SE

Social retail consumption data improved in October for BABA, VIPS, PDD, 3690.HK, and JD. Tencent increased ownership stake in a Wuxia Genre Gaming...

Blue Lotus Research Institute

China Consumption Weekly (20 Nov 2023): Alibaba, Kuaishou, Tencent Music, JD.com, Tims China

Alibaba’s cloud servers experienced downtime. Kuaishou achieved success in the Singles Day sales. Tims China’s revenue grew strongly with...

Ming Lu

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Xiaomi (1810 HK): Outperformance Leads to Passive Selling & Opens Up Trading Opportunities

There will be passive selling in Xiaomi from HSTECH trackers at the close on 1 Dec. Relative underperformance till Tuesday will lead to less...

Brian Freitas

Zeekr Pre-IPO - Thoughts on Valuation

ZEEKR (ZK US), a premium EV brand by Geely Auto (175 HK), aims to raise around US$500m in its US listing. In this note, we talk about valautions.

Sumeet Singh

Zeekr Pre-IPO - Peer Comparison - Catching up with Little Spending

ZEEKR (ZK US), a premium EV brand by Geely Auto (175 HK), aims to raise around US$500m in its US listing. In this note, we comapre Zeekr with its...

Sumeet Singh

[Blue Lotus Daily - TMT Update]: BABA/ VIPS/PDD/JD/Meituan, 3690.HK/Tencent, 700.HK/SE

​Social retail consumption data improved in October for BABA, VIPS, PDD, 3690.HK, and JD. Tencent increased ownership stake in a Wuxia Genre Gaming...

Blue Lotus Research Institute

China Consumption Weekly (20 Nov 2023): Alibaba, Kuaishou, Tencent Music, JD.com, Tims China

Alibaba’s cloud servers experienced downtime. Kuaishou achieved success in the Singles Day sales. Tims China’s revenue grew strongly with...

Ming Lu

Social retail consumption data improved in October for BABA, VIPS, PDD, 3690.HK, and JD. Tencent increased ownership stake in a Wuxia Genre Gaming...