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>Following a methodology change in mid-November for the CSI All Share Semiconductor Index, there are 7 adds and 29 deletes for the index in December.</li>
<li>Estimated one-way turnover at the rebalance is 6% leading to a round-trip trade of CNY 3.15bn (US$435m).</li>
<li>The adds outperformed the deletes bigly in the first 2 weeks of November. Some of those gains have been given back but a new uptrend seems to be taking shape.</li>
</ul>


Following a methodology change in mid-November for the CSI All Share Semiconductor Index, there are 7 adds and 29 deletes for the index in December.
Estimated one-way turnover at the rebalance is 6% leading to a round-trip trade of CNY 3.15bn (US$435m).
The adds outperformed the deletes bigly in the first 2 weeks of November. Some of those gains have been given back but a new uptrend seems to be taking shape.


CSI All Share Semiconductor Index Rebalance: Methodology Change Leads to 7 Adds, 29 Deletes

Research on Tech Companies

Evelyn Zhang

Thematic (Sector/Industry)

MCU (microcontroller) is the basic control unit for a large number of electronic devices. Large international manufacturers occupied a major market share. Since 2021, the global MCU market has been suffering from a persistent shortage of stock, and prices have soared. Many downstream companies, especially car makers, are experiencing severe shortage of MUC chips. Chinese downstream customers have begun to accelerate the localization of MCU supply chains.I am optimistic about the performance of China MCU manufacturers this year, and I suggest paying attention to <a href="https://www.smartkarma.com/entities/gigadevice-semiconductor-beijing-a" target="_blank" data-smartkarma-citation="entities:27253:1" rel="noopener">GigaDevice Semiconductor (Beijing)-A (603986 CH)</a> , <a href="https://www.smartkarma.com/entities/espressif-systems-shanghai-co" target="_blank" data-smartkarma-citation="entities:30311:1" rel="noopener">Espressif Systems Shanghai Co (688018 CH)</a> , <a href="https://www.smartkarma.com/entities/sino-wealth-electronic-ltd" target="_blank" data-smartkarma-citation="entities:14697:1" rel="noopener">Sino Wealth Electronic (300327 CH)</a>

MCU (microcontroller) is the basic control unit for a large number of electronic devices. Large international manufacturers occupied a major market share. Since 2021, the global MCU market has been suffering from a persistent shortage of stock, and prices have soared. Many downstream companies, especially car makers, are experiencing severe shortage of MUC chips. Chinese downstream customers have begun to accelerate the localization of MCU supply chains.I am optimistic about the performance of China MCU manufacturers this year, and I suggest paying attention to GigaDevice Semiconductor (Beijing)-A (603986 CH) , Espressif Systems Shanghai Co (688018 CH) , Sino Wealth Electronic (300327 CH) 

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

This June China’s TaihuLight replaced its Tianhe-2 as the world’s fastest supercomputer. The new leader outperforms the latter “<a href="https://www.top500.org/news/china-tops-supercomputer-rankings-with-new-93-petaflop-machine/" target="_blank">by a factor of three</a>”. Specialist media say that the new machine "is <a href="http://www.theverge.com/2016/6/20/11975356/chinese-supercomputer-worlds-fastes-taihulight" target="_blank">capable of performing some 93 quadrillion calculations per second"</a> (otherwise known as petaflops), making it roughly five times more powerful than the speediest American system, which is now ranked third worldwide. that makes it about as powerful as two million laptop computers.Such is the power of the…

This June China’s TaihuLight replaced its Tianhe-2 as the world’s fastest supercomputer. The new leader outperforms the latter “by a factor of three”. Specialist media say that the new machine "is capable of performing some 93 quadrillion calculations per second" (otherwise known as petaflops), making it roughly five times more powerful than the speediest American system, which is now ranked third worldwide. that makes it about as powerful as two million laptop computers.Such is the power of the…

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Beijing Orient National A / Technical Analysis

Baidu is poised to see a significant run higher out of triangulation noted in charts below.  We remain bullish China and H shares outside of a September draw down which we are using pairs to cushion any near-term fallout.Baidu's pattern has a number of bullish signals unfolding on the back of the impulsive rise out of the August bull flag that is now knocking on bigger breakout resistance at 195. Note that this push has already cleared triangle resistance which constitutes a bullish breakout in…

Baidu is poised to see a significant run higher out of triangulation noted in charts below.  We remain bullish China and H shares outside of a September draw down which we are using pairs to cushion any near-term fallout.Baidu's pattern has a number of bullish signals unfolding on the back of the impulsive rise out of the August bull flag that is now knocking on bigger breakout resistance at 195. Note that this push has already cleared triangle resistance which constitutes a bullish breakout in…

Differentiated global TMT & Internet Research

New Street Research Insights

New Street Research

Research is provided by our team of experienced analysts. Our work is idea driven, based on independence of thought, sector expertise, and firmly focused on fundamentals and valuation of telecoms and internet names globally. New Street is headquartered in London with offices in New York, Singapore and Australia. 

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
US Healthcare
Japanese Healthcare

We also provide debt research on:
Pan European Telecom Services and Cable

This report looks at the development of advertising technology in the Chinese market. We define the value chain and discuss the capabilities at <a href="https://www.smartkarma.com/entities/179" target="_blank" data-smartkarma-citation="entities:179:1">Baidu (BIDU US)</a>, <a href="https://www.smartkarma.com/entities/787" target="_blank" data-smartkarma-citation="entities:787:1">Alibaba (BABA US)</a>,  and <a href="https://www.smartkarma.com/entities/26" target="_blank" data-smartkarma-citation="entities:26:1">Tencent (700 HK)</a>, plus some top-down views on <a href="https://www.smartkarma.com/entities/3826" target="_blank" data-smartkarma-citation="entities:3826:1">Weibo (WB US)</a>.Among the key takeaways, we note the rise in ad tech and specialization, the strength of BABA and BIDU but also Tencent (best data sets), the shift to social media and the risks from regulatory scrutiny.What excites us the most is the rapidly closing gap between China and the rest of the world in ad tech and the potential for Tencent to generate continued growth as its tech credentials improve.

This report looks at the development of advertising technology in the Chinese market. We define the value chain and discuss the capabilities at Baidu (BIDU US), Alibaba (BABA US),  and Tencent (700 HK), plus some top-down views on Weibo (WB US).Among the key takeaways, we note the rise in ad tech and specialization, the strength of BABA and BIDU but also Tencent (best data sets), the shift to social media and the risks from regulatory scrutiny.What excites us the most is the rapidly closing gap between China and the rest of the world in ad tech and the potential for Tencent to generate continued growth as its tech credentials improve. 

China

Qingdao Eastsoft Communication Technology Company Limited engages in the development, manufacturing, distribution and servicing of low voltage power line carrier communication products, such as carrier communication chips, concentrator and so on.

Qingdao Eastsoft Cmmnictn Tchnlgy (300183 CH)

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Qingdao Eastsoft Cmmnictn Tchnlgy (300183 CH)

Cashing in the Chips

The Pandemic, buyer hording and supply chain issues all contributed to a perfect storm that's causing a global shortage of computer chips. I take a...

Evelyn Zhang

China Keeps Its Lead in Supercomputing

This June China’s TaihuLight replaced its Tianhe-2 as the world’s fastest supercomputer. The new leader outperforms the latter “by a factor of...

Bixmoor

Bullish BAIDU Out of Triangulation

Baidu is poised to see a significant run higher out of triangulation noted in charts below. We remain bullish China and H shares outside of a...

Thomas Schroeder

China: The Rise of Ad Tech in China

This report looks at the development of advertising technology in the Chinese market. We define the value chain and discuss the capabilities at...

New Street Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CSI All Share Semiconductor Index Rebalance: Methodology Change Leads to 7 Adds, 29 Deletes

There are 7 adds, 29 deletes in Dec. Estimated one-way turnover is 6% leading to a round-trip trade of US$435m. There are same way flows from other...

Brian Freitas

Cashing in the Chips

The Pandemic, buyer hording and supply chain issues all contributed to a perfect storm that's causing a global shortage of computer chips. I take a...

Evelyn Zhang

China Keeps Its Lead in Supercomputing

This June China’s TaihuLight replaced its Tianhe-2 as the world’s fastest supercomputer. The new leader outperforms the latter “by a factor of...

Bixmoor

Bullish BAIDU Out of Triangulation

Baidu is poised to see a significant run higher out of triangulation noted in charts below. We remain bullish China and H shares outside of a...

Thomas Schroeder

China: The Rise of Ad Tech in China

This report looks at the development of advertising technology in the Chinese market. We define the value chain and discuss the capabilities at...

New Street Research