Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Technology-First Company

DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.

Event-Driven

<ul>
<li>Last night, the price snapshot was taken for the JSE September rebalance. The rebalance is scheduled to take place during the closing auction on Friday the 20th of September.</li>
<li>PPH is expected to enter the Top 40 with AMS falling out. No changes are expected for the FINI, FINDI, INDI or RESI.</li>
<li>There are several noteworthy free float changes across ALSI constituents, particularly amongst foreign counters (detail below).</li>
</ul>


Last night, the price snapshot was taken for the JSE September rebalance. The rebalance is scheduled to take place during the closing auction on Friday the 20th of September.
PPH is expected to enter the Top 40 with AMS falling out. No changes are expected for the FINI, FINDI, INDI or RESI.
There are several noteworthy free float changes across ALSI constituents, particularly amongst foreign counters (detail below).


JSE Sep 24 Rebalance: PPH Expected to Enter Top 40, AMS to Fall Out

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains neutral on global equities (MSCI ACWI) as of our August 8, 2024 Int’l Compass, after being bullish since early-November 2023</li>
<li>As discussed since late-July, we believe we're still within a 4- to 6-month pullback/consolidation from our selected July 17 starting point, until the market decides which was this consolidation resolves </li>
<li>TOPIX is below 2740-2820 resistance. Europe is testing resistance, though near potential breakouts on the EURO STOXX 50, STOXX Europe 600, and STOXX Europe 50. Watch for false breakouts</li>
</ul>


Our outlook remains neutral on global equities (MSCI ACWI) as of our August 8, 2024 Int’l Compass, after being bullish since early-November 2023
As discussed since late-July, we believe we're still within a 4- to 6-month pullback/consolidation from our selected July 17 starting point, until the market decides which was this consolidation resolves 
TOPIX is below 2740-2820 resistance. Europe is testing resistance, though near potential breakouts on the EURO STOXX 50, STOXX Europe 600, and STOXX Europe 50. Watch for false breakouts


Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

<ul>
<li>Last week Friday, JSE indices were rebalanced in the closing auction. Turnover for the day was R53.7bn, R37bn traded in the closing auction (68%).</li>
<li>Turnover at the June rebalance was R58bn, 66% traded in the closing auction.</li>
<li>Foreign activity in MRP on Friday suggests that there was a large buyer, despite muted index weight changes.</li>
</ul>


Last week Friday, JSE indices were rebalanced in the closing auction. Turnover for the day was R53.7bn, R37bn traded in the closing auction (68%).
Turnover at the June rebalance was R58bn, 66% traded in the closing auction.
Foreign activity in MRP on Friday suggests that there was a large buyer, despite muted index weight changes.


JSE Sep24 Rebalance: Foreigners Bid up MRP, PPH Trades 11 Times ADV

<ul>
<li>On Friday in the closing auction, JSE indices will be rebalanced. PPH will enter the Top 40, with AMS falling out.</li>
<li>There are also a number of changes to the ALSI index – PHP &amp; PMR will be added, with THA &amp; TCP falling out.</li>
<li>Hedgers and passives tracking uncapped indices will be sellers of Naspers and Prosus whereas those tracking the capped variants will be buyers.</li>
</ul>


On Friday in the closing auction, JSE indices will be rebalanced. PPH will enter the Top 40, with AMS falling out.
There are also a number of changes to the ALSI index – PHP &amp; PMR will be added, with THA &amp; TCP falling out.
Hedgers and passives tracking uncapped indices will be sellers of Naspers and Prosus whereas those tracking the capped variants will be buyers.


JSE Sep24 Rebal: Foreign Inward Listings Amongst Top Sells, PPH to Enter Top 40, AMS to Be Deleted

<ul><li>Indices will be rebalanced at the end of the month on Thursday the 29th of February.</li><li>The three largest additions to the World Index measured by full company market capitalization will be Samsara A (USA), Corebridge Financial (USA) and Applovin Corp A (USA)</li><li>The three largest additions to the Emerging Markets Index measured by full company market capitalization will be Midea Group Co A (HK-C) (China), Punjab National Bank (India) and Union Bank Of India (India)</li></ul>

Indices will be rebalanced at the end of the month on Thursday the 29th of February.The three largest additions to the World Index measured by full company market capitalization will be Samsara A (USA), Corebridge Financial (USA) and Applovin Corp A (USA)The three largest additions to the Emerging Markets Index measured by full company market capitalization will be Midea Group Co A (HK-C) (China), Punjab National Bank (India) and Union Bank Of India (India)

FEB 2024 REBALANCE Index Changes Announced, SA Constituents to Remain the Same

South Africa

Pepkor Holdings Ltd is a retailer, focused on customers in the defensive discount and value retail segments. The Company's product range is biased towards basic products and services including apparel, general merchandise, cellular, financial services products, household goods and building materials.

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Pepkor Holdings (PPH SJ)

JSE Sep 24 Rebalance: PPH Expected to Enter Top 40, AMS to Fall Out

Last night, the snapshot for the JSE September rebalance was taken. We expect PPH to enter the Top 40 index, with AMS falling out. We also provide...

DMA

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI Ex-US, EAFE (Local Curr) Below Resistance

Japan and Europe Holding Below Resistance; MSCI ACWI, ACWI ex-US, and EAFE (local currency) Also Below Resistance Though Testing Now; $EEM breakout...

Vermilion Research

JSE Sep24 Rebalance: Foreigners Bid up MRP, PPH Trades 11 Times ADV

A summary of trade analytics for the September rebalance. Foreign activity suggests a large buyer in MRP. PPH entered the Top 40, AMS fell out.

DMA

JSE Sep24 Rebal: Foreign Inward Listings Amongst Top Sells, PPH to Enter Top 40, AMS to Be Deleted

An overview of the top buys and sells going into the JSE September rebalance on Friday. AGL & CFR are amongst the top sells, resulting from a...

DMA

FEB 2024 REBALANCE Index Changes Announced, SA Constituents to Remain the Same

Indices will be rebalanced at the end of the month on Thursday the 29th of February. The three largest additions to the World Index measured by...

DMA

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