Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

<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 five changes for ASX 200 including a surprise deletion due to long term suspension of a stock.</li>
<li>The official index changes will be announced after the close on Friday 1st March 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 five changes for ASX 200 including a surprise deletion due to long term suspension of a stock.
The official index changes will be announced after the close on Friday 1st March 2024.


Quiddity Leaderboard ASX Mar 24: Five ASX 200 Changes Possible Including One Surprise

<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>The conclusion of the <a href="https://www.smartkarma.com/entities/costa-group-holdings-ltd" target="_blank" data-smartkarma-citation="entities:22632:1" rel="noopener">Costa Group Holdings (CGC AU)</a> M&amp;A deal could trigger an index change in February 2024.</li>
<li>Separately, there could be a "surprise" index change in March 2024 caused by a long-term trading suspension. </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.
The conclusion of the Costa Group Holdings (CGC AU) M&amp;A deal could trigger an index change in February 2024.
Separately, there could be a "surprise" index change in March 2024 caused by a long-term trading suspension. 


Quiddity Leaderboard ASX Mar 24: Exp ADDs Vs DELs Trade Successful; More to Come?

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 May 3rd (reported today) which has an aggregated short interest worth USD19.6bn.</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 Wesfarmers, Fortescue, BHP, Endeavour, Worley, Ampol.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of May 3rd (reported today) which has an aggregated short interest worth USD19.6bn.
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 Wesfarmers, Fortescue, BHP, Endeavour, Worley, Ampol.


ASX Short Interest Weekly (May 3rd): Wesfarmers, Fortescue, BHP, Endeavour, Worley, Ampol

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

<ul>
<li>There were a few rebalance announcements in the last week and the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a> and STAR100 Index rebalances were implemented at the close on Friday.</li>
<li>There are a lot of rebalances that will be implemented at the close on the coming Thursday and Friday.</li>
<li>Another big week of inflows for onshore China ETFs with Central Huijin likely behind the big flows to ETFs tracking the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-inde" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">Shanghai Shenzhen CSI 300 Inde (SHSZ300 INDEX)</a>. </li>
</ul>


There were a few rebalance announcements in the last week and the SSE STAR50 (STAR50 INDEX) and STAR100 Index rebalances were implemented at the close on Friday.
There are a lot of rebalances that will be implemented at the close on the coming Thursday and Friday.
Another big week of inflows for onshore China ETFs with Central Huijin likely behind the big flows to ETFs tracking the Shanghai Shenzhen CSI 300 Inde (SHSZ300 INDEX). 


Index Rebalance & ETF Flow Recap: NKY, ASX, CSI300, A50, STTF, LowVol30, Value Up

<ul>
<li>There is 1 change for the S&amp;P/ASX20 Index, 2 changes for the S&amp;P/ASX100 Index, 4 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/ASX200 INDEX</a> and 14 adds/10 deletes for the S&amp;P/ASX300 Index in March.</li>
<li>The largest impact is expected on 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 (AS51 INDEX)</a> while flows are large among changes to the S&amp;P/ASX 20 Index and S&amp;P/ASX 100 Index too.</li>
<li>There has been a steady increase in cumulative excess volume for most stocks but there are a few where there has been a spike recently.</li>
</ul>


There is 1 change for the S&amp;P/ASX20 Index, 2 changes for the S&amp;P/ASX100 Index, 4 changes for the S&amp;P/ASX200 INDEX and 14 adds/10 deletes for the S&amp;P/ASX300 Index in March.
The largest impact is expected on the changes to the S&amp;P/ASX 200 (AS51 INDEX) while flows are large among changes to the S&amp;P/ASX 20 Index and S&amp;P/ASX 100 Index too.
There has been a steady increase in cumulative excess volume for most stocks but there are a few where there has been a spike recently.


S&P/​​​​ASX Index Rebalance (Mar 2024): Changes, Flows, Impact, Shorts & Positioning

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Quiddity Leaderboard ASX Mar 24: Five ASX 200 Changes Possible Including One Surprise

The ASX index changes will be announced on 1st March 2024. Long-term suspension name Leo Lithium is a potential DEL in March 2024 from the ASX...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Mar 24: Exp ADDs Vs DELs Trade Successful; More to Come?

I see 6 changes for ASX 200 between now and the March 2024 rebalance. Both ASX 20 and ASX 100 could see one change each. Many index changes...

Janaghan Jeyakumar, CFA

ASX Short Interest Weekly (May 3rd): Wesfarmers, Fortescue, BHP, Endeavour, Worley, Ampol

We analyzed ASX short interest report for the past week and highlight short interest changes in Wesfarmers, Fortescue, BHP, Endeavour, Worley, Ampol.

Ke Yan, CFA, FRM

Index Rebalance & ETF Flow Recap: NKY, ASX, CSI300, A50, STTF, LowVol30, Value Up

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

Brian Freitas

S&P/ASX Index Rebalance (Mar 2024): Changes, Flows, Impact, Shorts & Positioning

There are 38 constituent changes across the index family. There are big flows and impacts for a bunch of stocks. Short interest is high on the...

Brian Freitas

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Quiddity Leaderboard ASX Mar 24: Five ASX 200 Changes Possible Including One Surprise

The ASX index changes will be announced on 1st March 2024. Long-term suspension name Leo Lithium is a potential DEL in March 2024 from the ASX...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Mar 24: Exp ADDs Vs DELs Trade Successful; More to Come?

I see 6 changes for ASX 200 between now and the March 2024 rebalance. Both ASX 20 and ASX 100 could see one change each. Many index changes...

Janaghan Jeyakumar, CFA

ASX Short Interest Weekly (May 3rd): Wesfarmers, Fortescue, BHP, Endeavour, Worley, Ampol

We analyzed ASX short interest report for the past week and highlight short interest changes in Wesfarmers, Fortescue, BHP, Endeavour, Worley, Ampol.

Ke Yan, CFA, FRM

Index Rebalance & ETF Flow Recap: NKY, ASX, CSI300, A50, STTF, LowVol30, Value Up

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

Brian Freitas

S&P/​​​​ASX Index Rebalance (Mar 2024): Changes, Flows, Impact, Shorts & Positioning

There are 38 constituent changes across the index family. There are big flows and impacts for a bunch of stocks. Short interest is high on the...

Brian Freitas

S&P/ASX Index Rebalance (Mar 2024): Changes, Flows, Impact, Shorts & Positioning