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>There are 2 changes for the S&amp;P/ASX100 Index, 3 changes for 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> and 16 adds/ 8 deletes for the S&amp;P/ASX300 Index.</li>
<li>The two big surprises are the inclusion of <a href="https://www.smartkarma.com/entities/guzman-y-gomez-limited" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez (GYG AU)</a> and <a href="https://www.smartkarma.com/entities/yancoal-australia-ltd" target="_blank" data-smartkarma-citation="entities:4145:1" rel="noopener">Yancoal Australia (YAL 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> and S&amp;P/ASX300 Index.</li>
<li>The adds to the indices have outperformed the deletes over the last few months and there could be profit-taking in the next few days.</li>
</ul>


There are 2 changes for the S&amp;P/ASX100 Index, 3 changes for the S&amp;P/ASX 200 (AS51 INDEX) and 16 adds/ 8 deletes for the S&amp;P/ASX300 Index.
The two big surprises are the inclusion of Guzman Y Gomez (GYG AU) and Yancoal Australia (YAL AU) in the S&amp;P/ASX 200 (AS51 INDEX) and S&amp;P/ASX300 Index.
The adds to the indices have outperformed the deletes over the last few months and there could be profit-taking in the next few days.


S&P/​​​​ASX Index Rebalance (Sep 2024): Two Big Surprises; Positioning Is Mixed

<ul>
<li>With 2 trading days left in the review period, there could be 30 adds/deletes across the S&amp;P/ASX family of indices in September.</li>
<li>Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to 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</a> and S&amp;P/ASX 300.</li>
<li>The forecast adds have hugely outperformed the forecast deletes. Borrow recall on the deletes and increased borrow availability on the adds could result in underperformance following announcement of the changes.</li>
</ul>


With 2 trading days left in the review period, there could be 30 adds/deletes across the S&amp;P/ASX family of indices in September.
Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to the S&amp;P/ASX 200 and S&amp;P/ASX 300.
The forecast adds have hugely outperformed the forecast deletes. Borrow recall on the deletes and increased borrow availability on the adds could result in underperformance following announcement of the changes.


S&P/​​​​​​​​​ASX Index Rebalance Preview: Review Period Nearly Done; Big Impact Changes

<ul>
<li>With nearly 80% of the review period complete, there could be 28 adds/deletes across the S&amp;P/ASX family of indices in September.</li>
<li>There is a lot of stocks for passive trackers to trade on the index changes with the largest impacts on the potential changes to 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>. </li>
<li>The potential adds have outperformed the potential deletions by a LOT over the last few months and continued positioning could lead to further gains.</li>
</ul>


With nearly 80% of the review period complete, there could be 28 adds/deletes across the S&amp;P/ASX family of indices in September.
There is a lot of stocks for passive trackers to trade on the index changes with the largest impacts on the potential changes to the S&amp;P/ASX 200 (AS51 INDEX). 
The potential adds have outperformed the potential deletions by a LOT over the last few months and continued positioning could lead to further gains.


S&P/​​​​​​​​​ASX Index Rebalance Preview: Potential Changes from Now to September

Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>In last month’s monetary policy decision, the Reserve Bank of Australia (RBA) kept interest rate unchanged at 4.35%.</li>
<li>According to a Reuters poll, a majority of the economists predicted interest rates to remain unchanged in the current quarter, followed by a 25bps cut to 4.10% in 4Q24.</li>
<li>Amid possible rate cut talks both in the domestic as well as the U.S. market, we want to take a look at Australian biotech companies.</li>
</ul>


In last month’s monetary policy decision, the Reserve Bank of Australia (RBA) kept interest rate unchanged at 4.35%.
According to a Reuters poll, a majority of the economists predicted interest rates to remain unchanged in the current quarter, followed by a 25bps cut to 4.10% in 4Q24.
Amid possible rate cut talks both in the domestic as well as the U.S. market, we want to take a look at Australian biotech companies.


Australian Biotech Companies Amid Talk of Likely Interest Rate Cut

External broker reports(aggregated public sources), Taylor Collison

Taylor Collison

External broker reports(aggregated public sources)

Taylor Collison is a leading financial services firm, providing advice & wealth creation strategies to private & institutional investors and corporate clients throughout Australia. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>IMM reported positive headline data from its expanded TACTI-002 part A trial in first line (1L) non small cell lung cancer (NSCLC) at ASCO last week.</li><li>The overall response rate (ORR) among all 114 subjects treated with the efti/Keytruda combo edged higher to 38.6% vs 36.1% in the first 36 at ASCO 2021.</li><li>Consistent with the trends seen in the different PD-L1 tumour biomarker subgroups in the first 36 patients last year, the greatest of the benefit of efti was seen in the PD-L1low (TPS 1-49%) group, and to a lesser extent in PD-L1negative patients.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

IMM reported positive headline data from its expanded TACTI-002 part A trial in first line (1L) non small cell lung cancer (NSCLC) at ASCO last week.The overall response rate (ORR) among all 114 subjects treated with the efti/Keytruda combo edged higher to 38.6% vs 36.1% in the first 36 at ASCO 2021.Consistent with the trends seen in the different PD-L1 tumour biomarker subgroups in the first 36 patients last year, the greatest of the benefit of efti was seen in the PD-L1low (TPS 1-49%) group, and to a lesser extent in PD-L1negative patients.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Immutep (IMM): Lung May Jump Breast Cancer in Trial Queue

Australia

Immutep Limited operates as a biotechnology company. The Company focuses on developing novel immunotherapy treatments for cancer and autoimmune disease. Immutep offers its services worldwide.

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Immutep (IMM AU)

S&P/ASX Index Rebalance (Sep 2024): Two Big Surprises; Positioning Is Mixed

The index rebalances at the close today. Stocks have moved a lot over the last couple of weeks since announcements and some positioning will be...

Brian Freitas

S&P/ASX Index Rebalance Preview: Review Period Nearly Done; Big Impact Changes

There could be 30 changes for the ASX indices in September with a lot to trade for passive trackers. The adds have outperformed the deletes and...

Brian Freitas

S&P/ASX Index Rebalance Preview: Potential Changes from Now to September

There could be 28 changes for the ASX indices in September with a lot to trade for passive trackers. The adds have outperformed the deletes by a...

Brian Freitas

Australian Biotech Companies Amid Talk of Likely Interest Rate Cut

RBA keeps interest rates steady at 4.35%, while economists predict possible cut to 4.10% in 4Q24. Australian biotech companies should be in focus...

Tina Banerjee

Immutep (IMM): Lung May Jump Breast Cancer in Trial Queue

IMM reported positive headline data from its expanded TACTI-002 part A trial in first line (1L) non small cell lung cancer (NSCLC) at ASCO last week.

Taylor Collison

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​ASX Index Rebalance (Sep 2024): Two Big Surprises; Positioning Is Mixed

The index rebalances at the close today. Stocks have moved a lot over the last couple of weeks since announcements and some positioning will be...

Brian Freitas

S&P/​​​​​​​​​ASX Index Rebalance Preview: Review Period Nearly Done; Big Impact Changes

There could be 30 changes for the ASX indices in September with a lot to trade for passive trackers. The adds have outperformed the deletes and...

Brian Freitas

S&P/​​​​​​​​​ASX Index Rebalance Preview: Potential Changes from Now to September

There could be 28 changes for the ASX indices in September with a lot to trade for passive trackers. The adds have outperformed the deletes by a...

Brian Freitas

Australian Biotech Companies Amid Talk of Likely Interest Rate Cut

​RBA keeps interest rates steady at 4.35%, while economists predict possible cut to 4.10% in 4Q24. Australian biotech companies should be in focus...

Tina Banerjee

Immutep (IMM): Lung May Jump Breast Cancer in Trial Queue

IMM reported positive headline data from its expanded TACTI-002 part A trial in first line (1L) non small cell lung cancer (NSCLC) at ASCO last week.

Taylor Collison

S&P/ASX Index Rebalance (Sep 2024): Two Big Surprises; Positioning Is Mixed

S&P/ASX Index Rebalance Preview: Review Period Nearly Done; Big Impact Changes

S&P/ASX Index Rebalance Preview: Potential Changes from Now to September

RBA keeps interest rates steady at 4.35%, while economists predict possible cut to 4.10% in 4Q24. Australian biotech companies should be in focus...