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

Semirara Mining And Power Corp / Event-Driven

<ul>
<li>Today is the last day of the review period for the August rebalance of the <a href="https://www.smartkarma.com/entities/philippines-stock-exchange-psei-index" target="_blank" data-smartkarma-citation="entities:22912:1" rel="noopener">Philippines Stock Exchange PSEi Index (PCOMP INDEX)</a>. </li>
<li>We see a high probability of <a href="https://www.smartkarma.com/entities/semirara-mining-and-power-corporation" target="_blank" data-smartkarma-citation="entities:18925:1" rel="noopener">Semirara Mining And Power Corp (SCC PM)</a> replacing <a href="https://www.smartkarma.com/entities/security-bank-corp" target="_blank" data-smartkarma-citation="entities:3929:1" rel="noopener">Security Bank (SECB PM)</a> in the index.</li>
<li>Historically, the adds have outperformed the deletes and there has been a pop/drop in the adds/deletes the day after announcement. There is one month to pre-position for the announcement.</li>
</ul>


Today is the last day of the review period for the August rebalance of the Philippines Stock Exchange PSEi Index (PCOMP INDEX). 
We see a high probability of Semirara Mining And Power Corp (SCC PM) replacing Security Bank (SECB PM) in the index.
Historically, the adds have outperformed the deletes and there has been a pop/drop in the adds/deletes the day after announcement. There is one month to pre-position for the announcement.


PCOMP Index Rebalance Preview: SCC Likely Replaces SECB

Research from SooChow CSSD Capital Markets (Asia), SCCM Asia Research

SCCM Asia Research

Research from SooChow CSSD Capital Markets (Asia)

Headquartered in Singapore, SooChow CSSD Capital Markets (Asia) is an investment bank focusing on emerging growth companies across Asia, providing a full suite of investment banking services, including corporate finance, mergers and acquisitions advisory, equity capital markets, institutional equities sales and trading and equities research.

SooChow CSSD Capital Markets (Asia)

Thematic (Sector/Industry)

<ul><li><a href="https://www.smartkarma.com/entities/keppel-dc-reit" target="_blank" data-smartkarma-citation="entities:85" rel="noopener">Keppel DC REIT (KDCREIT SP)</a> acquires 2 data centers in China; DPU accretive by +2.7%</li><li><a href="https://www.smartkarma.com/entities/oxley-holdings-ltd" target="_blank" data-smartkarma-citation="entities:1097" rel="noopener">Oxley Holdings (OHL SP)</a> to divest Vietnamese assets for ~S$84m</li><li>Chuan Park gets S$860m offer, below S$938m en bloc reserve price; Enbloc market heating up</li></ul>

Keppel DC REIT (KDCREIT SP) acquires 2 data centers in China; DPU accretive by +2.7%Oxley Holdings (OHL SP) to divest Vietnamese assets for ~S$84mChuan Park gets S$860m offer, below S$938m en bloc reserve price; Enbloc market heating up

ASEAN Builder's Scoop (21Jun22) - KDCREIT Acquires 2 China DC, +2.7% DPU Accretive

<ul><li>New private home sales rose 108% MoM in May22; But take-up rate falling further to ~109%</li><li>Condo, HDB rents rose at quicker pace in May22; More units leased</li><li>Visitor arrivals continued to rebound strongly in May22 though still 26% of monthly average in 2019</li></ul>

New private home sales rose 108% MoM in May22; But take-up rate falling further to ~109%Condo, HDB rents rose at quicker pace in May22; More units leasedVisitor arrivals continued to rebound strongly in May22 though still 26% of monthly average in 2019

ASEAN Builder's Scoop (16Jun22) - May22 New Home Sales Take-Up Rate Falling Further

<ul><li>AEW acquires Westgate Tower for S$2,200psf; Parkview Square at Bugis under exclusive DD for S$2,700psf</li><li>Condo resale prices rise for 22nd straight month in May22; Jumping 0.3% MoM</li><li><a href="https://www.smartkarma.com/entities/far-east-orchard-ltd" target="_blank" data-smartkarma-citation="entities:9875" rel="noopener">Far East Orchard (FEOR SP)</a> made 4th investment in student hostel in Bristol</li></ul>

AEW acquires Westgate Tower for S$2,200psf; Parkview Square at Bugis under exclusive DD for S$2,700psfCondo resale prices rise for 22nd straight month in May22; Jumping 0.3% MoMFar East Orchard (FEOR SP) made 4th investment in student hostel in Bristol

ASEAN Builder's Scoop (15Jun22) - AEW Buys Westgate Tower, Parkview Square Under DD

<ul><li>SingHaiyi Group (SHG) places S$1.28bn top bid for Dunman site; <a href="https://www.smartkarma.com/entities/uol-group-ltd" target="_blank" data-smartkarma-citation="entities:142" rel="noopener">UOL Group (UOL SP)</a> - <a href="https://www.smartkarma.com/entities/singapore-land-group-ltd" target="_blank" data-smartkarma-citation="entities:12891" rel="noopener">Singapore Land Group (SPLG SP)</a>  won Pine Grove (A) site</li><li>Chinese national buys 20 units at CanningHill Piers for ~S$85m; 92% total units are now snapped</li><li>Warehouses occupancy and rents likely to rise in tandem with oil prices</li></ul>

SingHaiyi Group (SHG) places S$1.28bn top bid for Dunman site; UOL Group (UOL SP) - Singapore Land Group (SPLG SP)  won Pine Grove (A) siteChinese national buys 20 units at CanningHill Piers for ~S$85m; 92% total units are now snappedWarehouses occupancy and rents likely to rise in tandem with oil prices

ASEAN Builder's Scoop (3Jun22) - SHG Won Dunman Site

Philippines

Robinsons Land Corporation invests in and develops real estate. The Company develops residential housing and commercial real estate and operates shopping malls and hotels.

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Robinsons Land Co (RLC PM)

PCOMP Index Rebalance Preview: SCC Likely Replaces SECB

We see Semirara Mining (SCC) replacing Security Bank (SECB) at the August rebalance of the PCOMP Index. Passive trackers will need to buy over 5...

Brian Freitas

ASEAN Builder's Scoop (21Jun22) - KDCREIT Acquires 2 China DC, +2.7% DPU Accretive

OHL divests VN assets; Enbloc market heating up; RLC shifts to clean power by 2035; Phils BSP 25bps rate hike most likely

SCCM Asia Research

ASEAN Builder's Scoop (16Jun22) - May22 New Home Sales Take-Up Rate Falling Further

Condo/HDB rents rose faster in May22; Visitor arrivals still ~26% of pre-Covid; SSIA booked 9ha land sales in 1Q22; RLC highest bond rating; ECWI...

SCCM Asia Research

ASEAN Builder's Scoop (15Jun22) - AEW Buys Westgate Tower, Parkview Square Under DD

Condo resale price rose again in May22; FEOR expands PBSA in Bristol; Russians led condo revival in Phuket; MER-RLC partners to boost capacity

SCCM Asia Research

ASEAN Builder's Scoop (3Jun22) - SHG Won Dunman Site

UOL-SPLG Won Pine Grove (A) Site; CanningHill Piers 92% sold; Warehouse rents rising in tandem with oil; MICE full recovery by 2025; RLC, VLL bond...

SCCM Asia Research

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