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>With over 80% of the review period complete, there could be 26 adds/deletes across the S&amp;P/ASX family of indices in March.</li>
<li>The largest flow will be on <a href="https://www.smartkarma.com/entities/newmont-corp" target="_blank" data-smartkarma-citation="entities:40416:1" rel="noopener">Newmont (NEM AU)</a> due to the potential S&amp;P/ASX 20 Index deletion and a large decrease in the number of shares held in Australia.</li>
<li>There will be 1.2-38 days of ADV to buy in the inclusions while the impact on the deletions will range between 1-21 days of ADV.</li>
</ul>


With over 80% of the review period complete, there could be 26 adds/deletes across the S&amp;P/ASX family of indices in March.
The largest flow will be on Newmont (NEM AU) due to the potential S&amp;P/ASX 20 Index deletion and a large decrease in the number of shares held in Australia.
There will be 1.2-38 days of ADV to buy in the inclusions while the impact on the deletions will range between 1-21 days of ADV.


S&P/​​​​​​​​​ASX Index Rebalance Preview: Lots of Changes; A$1bn to Sell in Newmont

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2024 index review.</li>
<li>I expect one change for ASX 20, one change for ASX 100, and four changes for ASX 200 during the March 2024 index rebal event.</li>
<li>Separately, there could also be one <em>intra</em>-review change for ASX 200 in February 2024.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2024 index review.
I expect one change for ASX 20, one change for ASX 100, and four changes for ASX 200 during the March 2024 index rebal event.
Separately, there could also be one intra-review change for ASX 200 in February 2024.


Quiddity Leaderboard ASX Mar 24: Allkem, Newmont, Costa, and Many More

<ul>
<li>There were a lot of rebalance implementations in China on Friday, plus a few upcoming index changes that were announced during the week.</li>
<li>There are a lot of implementations this week, with <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">KOSPI 200</a> and <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150</a> on Thursday and then others across a bunch of countries on Friday.</li>
<li>There were big inflows to <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 (2800 HK)</a> during the week taking units outstanding to a new high. ETF inflows continue even as the market drops.</li>
</ul>


There were a lot of rebalance implementations in China on Friday, plus a few upcoming index changes that were announced during the week.
There are a lot of implementations this week, with KOSPI 200 and KOSDAQ 150 on Thursday and then others across a bunch of countries on Friday.
There were big inflows to Tracker Fund of Hong Kong (2800 HK) during the week taking units outstanding to a new high. ETF inflows continue even as the market drops.


Index Rebalance & ETF Flow Recap: NKY, TW Div+, ASX200, NZX50, Mom30, Top10EW, MVW, Rakuten Bank

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amp-ltd" target="_blank" data-smartkarma-citation="entities:678:1" rel="noopener">AMP Ltd (AMP AU)</a> and <a href="https://www.smartkarma.com/entities/a2-milk-co-ltd-95d4fbed-afa1-41e9-bafb-a5f1ef97622e" target="_blank" data-smartkarma-citation="entities:22775:1" rel="noopener">A2 Milk Co Ltd (A2M AU)</a> could be deleted as the lowest ranked current index constituents.</li>
<li>There are three other stocks that are close to the deletion threshold and a change in the free float could result in the stocks being deleted.</li>
<li>With the exception of <a href="https://www.smartkarma.com/entities/a2-milk-co-ltd-95d4fbed-afa1-41e9-bafb-a5f1ef97622e" target="_blank" data-smartkarma-citation="entities:22775:1" rel="noopener">A2 Milk Co Ltd (A2M AU)</a>, shorts have been increasing on nearly all the potential and close deletions.</li>
</ul>



AMP Ltd (AMP AU) and A2 Milk Co Ltd (A2M AU) could be deleted as the lowest ranked current index constituents.
There are three other stocks that are close to the deletion threshold and a change in the free float could result in the stocks being deleted.
With the exception of A2 Milk Co Ltd (A2M AU), shorts have been increasing on nearly all the potential and close deletions.


MVIS Australia Equal Weight Index Rebalance Preview: Stocks Close to Deletion Zone

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Nov 24th (reported today) which has an aggregated short interest worth USD19.8bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Commonw Bk Austr, Pilbara Minerals, Rio Tinto, Xero, NAB, Pro Medicus.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Nov 24th (reported today) which has an aggregated short interest worth USD19.8bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Commonw Bk Austr, Pilbara Minerals, Rio Tinto, Xero, NAB, Pro Medicus.


ASX Short Interest Weekly (Nov 24th): CommBank, Pilbara Minerals, Rio Tinto, Xero, NAB, Pro Medicus

Australia

Pro Medicus Limited develops and supplies proprietary software and IT solutions for large medical corporations and individual medical group practices.  The Group's services include billing and management systems for diagnostic imaging providers, clinical reporting systems, and appointment booking services.  Pro Medicus' e-mail system delivers encrypted diagnostic reports to group doctors.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Pro Medicus Ltd (PME AU)

S&P/ASX Index Rebalance Preview: Lots of Changes; A$1bn to Sell in Newmont

CGC's privatisation could lead to an adhoc change in Feb. Then there could be 26 changes at the March rebalance. Newmont could be deleted from the...

Brian Freitas

Quiddity Leaderboard ASX Mar 24: Allkem, Newmont, Costa, and Many More

I see 20+ ADDs/DELs in total across ASX 20, 50, 100, 200, and 300 in the run up to the March 2024 rebalance. Many names have multiple number of...

Janaghan Jeyakumar, CFA

Index Rebalance & ETF Flow Recap: NKY, TW Div+, ASX200, NZX50, Mom30, Top10EW, MVW, Rakuten Bank

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

MVIS Australia Equal Weight Index Rebalance Preview: Stocks Close to Deletion Zone

There are 2 potential deletes and another 3 stocks that are close deletes for the MVIS AU Equal Weight Index. Just the capping changes back to...

Brian Freitas

ASX Short Interest Weekly (Nov 24th): CommBank, Pilbara Minerals, Rio Tinto, Xero, NAB, Pro Medicus

We analyzed ASX short interest report for the past week and highlight short interest changes in CommBank, Pilbara Minerals, Rio Tinto, Xero, NAB,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​​​​​​ASX Index Rebalance Preview: Lots of Changes; A$1bn to Sell in Newmont

CGC's privatisation could lead to an adhoc change in Feb. Then there could be 26 changes at the March rebalance. Newmont could be deleted from the...

Brian Freitas

Quiddity Leaderboard ASX Mar 24: Allkem, Newmont, Costa, and Many More

I see 20+ ADDs/DELs in total across ASX 20, 50, 100, 200, and 300 in the run up to the March 2024 rebalance. Many names have multiple number of...

Janaghan Jeyakumar, CFA

Index Rebalance & ETF Flow Recap: NKY, TW Div+, ASX200, NZX50, Mom30, Top10EW, MVW, Rakuten Bank

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

MVIS Australia Equal Weight Index Rebalance Preview: Stocks Close to Deletion Zone

There are 2 potential deletes and another 3 stocks that are close deletes for the MVIS AU Equal Weight Index. Just the capping changes back to...

Brian Freitas

ASX Short Interest Weekly (Nov 24th): CommBank, Pilbara Minerals, Rio Tinto, Xero, NAB, Pro Medicus

We analyzed ASX short interest report for the past week and highlight short interest changes in CommBank, Pilbara Minerals, Rio Tinto, Xero, NAB,...

Ke Yan, CFA, FRM

S&P/ASX Index Rebalance Preview: Lots of Changes; A$1bn to Sell in Newmont