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Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

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Cross Asset Strategy

<ul><li>Plenum /: Plenum Explained: Beijing outlines reforms to boost foreign trade and promote the private sector</li><li>U.S. /Cover Story: U.S. presidential race upended by Biden’s withdrawal, assassination attempt on Trump</li><li>Corruption /: China’s top prosecutors order arrest of former vice chair of Hunan legislature</li></ul>

Plenum /: Plenum Explained: Beijing outlines reforms to boost foreign trade and promote the private sectorU.S. /Cover Story: U.S. presidential race upended by Biden’s withdrawal, assassination attempt on TrumpCorruption /: China’s top prosecutors order arrest of former vice chair of Hunan legislature

CX Daily: Beijing to Bolster Industrial Chains, Promote Private Sector

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

Cambricon Technologies  Lt / Event-Driven

<ul>
<li>With 70% of the review period complete, 4 non-constituents are in inclusion zone and 5 constituents are in deletion zone.</li>
<li>We estimate one-way turnover of 6.5% at the December rebalance leading to a one-way trade of CNY 8.8bn (US$1.2bn). Index arb balances could increase the impact on the stocks.</li>
<li>The potential adds have outperformed the potential deletes. With multiple days ADV to trade on the changes and the recent short selling clampdown, there could be further outperformance.</li>
</ul>


With 70% of the review period complete, 4 non-constituents are in inclusion zone and 5 constituents are in deletion zone.
We estimate one-way turnover of 6.5% at the December rebalance leading to a one-way trade of CNY 8.8bn (US$1.2bn). Index arb balances could increase the impact on the stocks.
The potential adds have outperformed the potential deletes. With multiple days ADV to trade on the changes and the recent short selling clampdown, there could be further outperformance.


SSE50 Index Rebalance Preview: Potential Inclusions Outperforming (And How!)

Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Beijing-Shanghai High Speed Ra / Event-Driven

<ul>
<li>SSE 50 and SSE 180, respectively, aim to represent the performance of the 50 and 180 largest and most liquid A-share stocks listed on the Shanghai Stock Exchange.</li>
<li>In this insight, we take a look at the names leading the race to become ADDs and DELs during the December 2024 index rebal event.</li>
<li>There have been some changes to the SSE 180 expected ADDs/DELs lists since our last insight.</li>
</ul>


SSE 50 and SSE 180, respectively, aim to represent the performance of the 50 and 180 largest and most liquid A-share stocks listed on the Shanghai Stock Exchange.
In this insight, we take a look at the names leading the race to become ADDs and DELs during the December 2024 index rebal event.
There have been some changes to the SSE 180 expected ADDs/DELs lists since our last insight.


Quiddity Leaderboard SSE50/180 Dec 24: US$1.6bn+ One-Way; Some Changes to Expectations.

Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Thematic (Sector/Industry)

<ul>
<li>The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.</li>
<li>
 Macro data points: Chinese CPI, PPI, imports, and exports data.</li>
<li>
 Companies mentioned:<a href="https://www.smartkarma.com/entities/baidu-inc-a55ca720-5968-48f0-8194-ac94390d065c" target="_blank" data-smartkarma-citation="entities:32212:1" rel="noopener">Baidu (9888 HK)</a>, <a href="https://www.smartkarma.com/entities/saic-motor-corp-ltd-a" target="_blank" data-smartkarma-citation="entities:20833:1" rel="noopener">SAIC Motor (600104 CH)</a>, <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a>
</li>
</ul>


The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global Emerging Markets equity indices.

 Macro data points: Chinese CPI, PPI, imports, and exports data.

 Companies mentioned:Baidu (9888 HK), SAIC Motor (600104 CH), Samsung Electronics (005930 KS)



GEMWeekly (12 Jul 2024): Driverless Robotaxis in Shanghai; China Macro; Baidu, Samsung Electronics

<ul><li>AI / In Depth: Are AI-powered learning gadgets ready to be at the head of the class?</li><li>Food safety /: Processing firm says it is a ‘victim’ of contaminated cooking oil scandal</li><li>Property /Land:  sales slashed by more than a third in first half of 2024 as real estate slump bites</li></ul>

AI / In Depth: Are AI-powered learning gadgets ready to be at the head of the class?Food safety /: Processing firm says it is a ‘victim’ of contaminated cooking oil scandalProperty /Land:  sales slashed by more than a third in first half of 2024 as real estate slump bites

CX Daily: Are AI-Powered Learning Gadgets Ready to Be at the Head of the Class? 

China

SAIC Motor Corporation Ltd., through joint ventures, manufactures and markets automobiles and related parts and accessories.

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SAIC Motor (600104 CH)

CX Daily: Beijing to Bolster Industrial Chains, Promote Private Sector

Plenum /: Plenum Explained: Beijing outlines reforms to boost foreign trade and promote the private sector U.S. /Cover Story: U.S. presidential...

Caixin Global

SSE50 Index Rebalance Preview: Potential Inclusions Outperforming (And How!)

There could be 4-5 changes in Dec. Estimate one-way turnover is 6.5% leading to a one-way trade of CNY 8.8bn (US$1.2bn). The potential adds have...

Brian Freitas

Quiddity Leaderboard SSE50/180 Dec 24: US$1.6bn+ One-Way; Some Changes to Expectations.

There could be US$1.4bn and US$240mn one-way flows, respectively, for the SSE 50 and SSE 180 December 2024 rebalances. Around 70% of the reference...

Janaghan Jeyakumar, CFA

GEMWeekly (12 Jul 2024): Driverless Robotaxis in Shanghai; China Macro; Baidu, Samsung Electronics

The Global Emerging Markets Weekly summarizes the key news and related developments impacting the largest countries and constituents of the Global...

Wium Malan, CFA

CX Daily: Are AI-Powered Learning Gadgets Ready to Be at the Head of the Class?

AI / In Depth: Are AI-powered learning gadgets ready to be at the head of the class? “I’ve been ripped off countless times! ” said Qin Xin, who...

Caixin Global

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