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

Quantitative Analysis

<ul>
<li>Short notional in Hong Kong is HK$439bn and has been falling over the last 18 months due to a drop in the market.</li>
<li>In terms of short notional to issue market cap, the Information Technology, Materials, Health Care and Consumer Discretionary sectors are up there, with Communication Services, Real Estate the least shorted.</li>
<li>Over the year, the largest shorts in terms of notional have been built on Xiaomi Corp, Meituan, JD.com, AIA Group Ltd, Postal Savings Bank of China, Orient Overseas, Techtronic Industries.</li>
</ul>


Short notional in Hong Kong is HK$439bn and has been falling over the last 18 months due to a drop in the market.
In terms of short notional to issue market cap, the Information Technology, Materials, Health Care and Consumer Discretionary sectors are up there, with Communication Services, Real Estate the least shorted.
Over the year, the largest shorts in terms of notional have been built on Xiaomi Corp, Meituan, JD.com, AIA Group Ltd, Postal Savings Bank of China, Orient Overseas, Techtronic Industries.


Hong Kong: Where Have Shorts Been Building Up?

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

Equity Bottom-Up

<ul><li>Kuaishou Technology Co. Ltd., the operator of China’s second-largest short video app, unveiled the new video cloud brand StreamLake and a self-developed intelligent video processing chip Wednesday in key moves to expand its business</li><li>The launch of StreamLake, the first enterprise-facing product from Kuaishou, marks the short-video platform operator’s official entry into the cloud services market and a shift from its original consumer-focused businesses</li><li>StreamLake will provide artificial intelligence-powered video creation and distribution solutions for corporate clients, Kuaishou said.</li></ul>

Kuaishou Technology Co. Ltd., the operator of China’s second-largest short video app, unveiled the new video cloud brand StreamLake and a self-developed intelligent video processing chip Wednesday in key moves to expand its businessThe launch of StreamLake, the first enterprise-facing product from Kuaishou, marks the short-video platform operator’s official entry into the cloud services market and a shift from its original consumer-focused businessesStreamLake will provide artificial intelligence-powered video creation and distribution solutions for corporate clients, Kuaishou said.

Kuaishou Dives Into Cloud Services and Chipmaking

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

<ul>
<li>China just announced game approval for July batch. More games were approved in July compared to June and May.</li>
<li>Pace of China game approval has picked up albeit at a much slower pace than pre-tightening.</li>
<li>Tencent and Netease will be under pressure as they continue to score zero in July domestic game approval. </li>
</ul>


China just announced game approval for July batch. More games were approved in July compared to June and May.
Pace of China game approval has picked up albeit at a much slower pace than pre-tightening.
Tencent and Netease will be under pressure as they continue to score zero in July domestic game approval. 


Tencent/Netease: Under Pressure with No Game Approval in July

<ul>
<li>China announced game approval last night for June batch, after a break in May.</li>
<li>We discussed in our previous note that China had resume game approval but at a slower pace.</li>
<li>Tencent and Netease continue to score zero in June domestic game approval.</li>
</ul>


China announced game approval last night for June batch, after a break in May.
We discussed in our previous note that China had resume game approval but at a slower pace.
Tencent and Netease continue to score zero in June domestic game approval.


Tencent/Netease: Smell of Common Prosperity in June Game Approval

<ul>
<li>China announced game approval last night, after 8 months of silence.</li>
<li>We discussed in our previous note that China would resume game approval.</li>
<li>There is no game approved for Tencent and Netease this round but we believe their approval will come in due time.</li>
</ul>


China announced game approval last night, after 8 months of silence.
We discussed in our previous note that China would resume game approval.
There is no game approved for Tencent and Netease this round but we believe their approval will come in due time.


Tencent/Netease: China Game Approval Resumption Is a Relieve, but Not Out of Tunnel

China

Kingsoft Corporation Ltd. develops and markets computer software.  The Company develops role-playing computer games and security, word processing, and spreadsheet software.

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Kingsoft Corp (3888 HK)

Hong Kong: Where Have Shorts Been Building Up?

Short notional in HK has decreased as a result of falling prices. Shorts have been increasing on a lot of stocks over the year. A rally could see...

Brian Freitas

Kuaishou Dives Into Cloud Services and Chipmaking

Kuaishou Technology Co. Ltd., the operator of China’s second-largest short video app, unveiled the new video cloud brand StreamLake and a self...

Caixin Global

Tencent/Netease: Under Pressure with No Game Approval in July

China regulator released July batch of game approval. Tencent and Netease will be under pressure as they continue to score zero.

Ke Yan, CFA, FRM

Tencent/Netease: Smell of Common Prosperity in June Game Approval

We analyzed the latest mobile game approval in China released last night. Though it is encouraging that China gives game approval after a break in...

Ke Yan, CFA, FRM

Tencent/Netease: China Game Approval Resumption Is a Relieve, but Not Out of Tunnel

China resumed game approval. We view this as a very positive development for game developers and to a larger extent the TMT industry.

Ke Yan, CFA, FRM

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