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

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

JD Health International  / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jd-health-international-inc" target="_blank" data-smartkarma-citation="entities:29677:1" rel="noopener">JD Health (6618 HK)</a> is on the right track in terms of business model and investment logic. The Company has also begun to enter a virtuous circle in financial performance.</li>
<li>There were some positive business updates in term of To B business in 22Q1-Q3, which would bring JD Health closer to establishing a complete “retail pharmacy + healthcare service” ecosystem.</li>
<li>For trading strategy, at present, considering the complex external environment, we recommend investors to do short-term trade, rather than long-term hold.</li>
</ul>



JD Health (6618 HK) is on the right track in terms of business model and investment logic. The Company has also begun to enter a virtuous circle in financial performance.
There were some positive business updates in term of To B business in 22Q1-Q3, which would bring JD Health closer to establishing a complete “retail pharmacy + healthcare service” ecosystem.
For trading strategy, at present, considering the complex external environment, we recommend investors to do short-term trade, rather than long-term hold.


JD Health (6618.HK) - Some Positive Updates in Business

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul>
<li>Some state-owned drugmakers have moved to round-the-clock production and ramped up overseas procurement after the sudden reversal of China’s “zero-Covid” policy cleared pharmacy shelves of fever and cough medicines.</li>
<li>After acute outbreaks in Beijing and Guangzhou overran Covid controls, demand has exploded across the country for so-called “anti-epidemic drugs,”</li>
<li>According to data provided to Caixin by JD Health, the pharmacy platform saw an 18-fold spike in sales of anti-epidemic drugs in the week to Dec. 4, compared to the week to Nov. 4.</li>
</ul>


Some state-owned drugmakers have moved to round-the-clock production and ramped up overseas procurement after the sudden reversal of China’s “zero-Covid” policy cleared pharmacy shelves of fever and cough medicines.
After acute outbreaks in Beijing and Guangzhou overran Covid controls, demand has exploded across the country for so-called “anti-epidemic drugs,”
According to data provided to Caixin by JD Health, the pharmacy platform saw an 18-fold spike in sales of anti-epidemic drugs in the week to Dec. 4, compared to the week to Nov. 4.


China’s State Drugmakers Scramble to Stock Pharmacy Shelves Amid Run on Covid Medicines

<ul>
<li>ClouDr released positive profit alert for 2022. We think ClouDr is in a virtuous circle based on its solid business model. It's a matter of time before ClouDr achieves breakeven. </li>
<li>As the number of hospitals/pharmacies newly deploying SaaS modules increases, and the existing B-end users continue to receive new patients,ClouDr is able to absorb new C-end users at low cost.</li>
<li>When more powerful competitors come in and carve up B-end market, ClouDr's long-term prospects may be uncertain, but its valuation shouldn't be much lower than Ping An Good Doctor. </li>
</ul>


ClouDr released positive profit alert for 2022. We think ClouDr is in a virtuous circle based on its solid business model. It's a matter of time before ClouDr achieves breakeven. 
As the number of hospitals/pharmacies newly deploying SaaS modules increases, and the existing B-end users continue to receive new patients,ClouDr is able to absorb new C-end users at low cost.
When more powerful competitors come in and carve up B-end market, ClouDr's long-term prospects may be uncertain, but its valuation shouldn't be much lower than Ping An Good Doctor. 


ClouDr Group (9955.HK) - Positive Profit Alert for 2022, Thoughts on Business Model and the Concerns

Thematic (Sector/Industry)

<ul>
<li>China's relaxation of COVID-19 control measures is much faster than expected. Due to rising infection rate and mortality rate, China would bear some pressure in the short term. </li>
<li>We analyzed the direct impacts due to COVID policy shift and related investment opportunities. The hardest time of three-year COVID-19 has passed.The playbook of the pandemic is about to end.</li>
<li>With the new leadership taking office, China will be more committed to economic growth after the Two Sessions. Starting from 2023H2, China could formulate independent financial/monetary policies. China will change. </li>
</ul>


China's relaxation of COVID-19 control measures is much faster than expected. Due to rising infection rate and mortality rate, China would bear some pressure in the short term. 
We analyzed the direct impacts due to COVID policy shift and related investment opportunities. The hardest time of three-year COVID-19 has passed.The playbook of the pandemic is about to end.
With the new leadership taking office, China will be more committed to economic growth after the Two Sessions. Starting from 2023H2, China could formulate independent financial/monetary policies. China will change. 


China Makes U-Turn on COVID Policy - Here Are the Direct Impacts and Investment Opportunities

China

JD Health International Inc. operates drug stores. The Company retails Chinese and Western medicines, nutrition products, health care products, and other products. JD Health International markets its products throughout China.

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JD Health International (6618 HK)

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

JD Health (6618.HK) - Some Positive Updates in Business

JD Health has entered a virtuous circle in financial performance. There're positive updates in 2B business,which will help JD Health establish a...

Xinyao (Criss) Wang

China’s State Drugmakers Scramble to Stock Pharmacy Shelves Amid Run on Covid Medicines

According to data provided to Caixin by JD Health, the pharmacy platform saw an 18-fold spike in sales of anti-epidemic drugs in the week to Dec....

Caixin Global

ClouDr Group (9955.HK) - Positive Profit Alert for 2022, Thoughts on Business Model and the Concerns

ClouDr's in a virtuous circle based on solid business model and is undervalued. It's a matter of time before ClouDr achieves breakeven, but long...

Xinyao (Criss) Wang

China Makes U-Turn on COVID Policy - Here Are the Direct Impacts and Investment Opportunities

China's U-turn on COVID policy will lead to rising infection/mortality rate.We analyzed the direct impact/investment opportunity. Under new...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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