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>There are 2 changes for the S&amp;P/ASX100 Index, 3 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/ASX 200 (AS51 INDEX)</a> and 16 adds/ 8 deletes for the S&amp;P/ASX300 Index.</li>
<li>The two big surprises are the inclusion of <a href="https://www.smartkarma.com/entities/guzman-y-gomez-limited" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez (GYG AU)</a> and <a href="https://www.smartkarma.com/entities/yancoal-australia-ltd" target="_blank" data-smartkarma-citation="entities:4145:1" rel="noopener">Yancoal Australia (YAL AU)</a> in 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> and S&amp;P/ASX300 Index.</li>
<li>The adds to the indices have outperformed the deletes over the last few months and there could be profit-taking in the next few days.</li>
</ul>


There are 2 changes for the S&amp;P/ASX100 Index, 3 changes for the S&amp;P/ASX 200 (AS51 INDEX) and 16 adds/ 8 deletes for the S&amp;P/ASX300 Index.
The two big surprises are the inclusion of Guzman Y Gomez (GYG AU) and Yancoal Australia (YAL AU) in the S&amp;P/ASX 200 (AS51 INDEX) and S&amp;P/ASX300 Index.
The adds to the indices have outperformed the deletes over the last few months and there could be profit-taking in the next few days.


S&P/​​​​ASX Index Rebalance (Sep 2024): Two Big Surprises; Positioning Is Mixed

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 Sep 13th (reported today) which has an aggregated short interest worth USD25.4bn.</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 Mineral Resources, Westpac, Gpt, Australian Clinical Labs, Aristocrat Leisure, James Hardie Industries Plc.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Sep 13th (reported today) which has an aggregated short interest worth USD25.4bn.
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 Mineral Resources, Westpac, Gpt, Australian Clinical Labs, Aristocrat Leisure, James Hardie Industries Plc.


ASX Short Interest Weekly (Sep 13th): Mineral Resources, Westpac, Gpt, Australian Clinical Labs

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>The ADDs/DELs for the ASX index family for the September 2024 index rebal event were announced after market close on Friday 6th September 2024.</li>
<li>In this insight, we take a final look at the flow expectations for each of these index changes.</li>
<li>We have also highlighted certain names with noticeable movements in short interest.</li>
</ul>


The ADDs/DELs for the ASX index family for the September 2024 index rebal event were announced after market close on Friday 6th September 2024.
In this insight, we take a final look at the flow expectations for each of these index changes.
We have also highlighted certain names with noticeable movements in short interest.


Quiddity ASX Sep 24 Rebal: Two Big Surprises; Short Interest Trends; Stunning Trade Performance

<ul>
<li>With 2 trading days left in the review period, there could be 30 adds/deletes across the S&amp;P/ASX family of indices in September.</li>
<li>Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for 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</a> and S&amp;P/ASX 300.</li>
<li>The forecast adds have hugely outperformed the forecast deletes. Borrow recall on the deletes and increased borrow availability on the adds could result in underperformance following announcement of the changes.</li>
</ul>


With 2 trading days left in the review period, there could be 30 adds/deletes across the S&amp;P/ASX family of indices in September.
Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to the S&amp;P/ASX 200 and S&amp;P/ASX 300.
The forecast adds have hugely outperformed the forecast deletes. Borrow recall on the deletes and increased borrow availability on the adds could result in underperformance following announcement of the changes.


S&P/​​​​​​​​​ASX Index Rebalance Preview: Review Period Nearly Done; Big Impact Changes

<ul>
<li>With nearly 80% of the review period complete, there could be 28 adds/deletes across the S&amp;P/ASX family of indices in September.</li>
<li>There is a lot of stocks for passive trackers to trade on the index changes with the largest impacts on the potential 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>. </li>
<li>The potential adds have outperformed the potential deletions by a LOT over the last few months and continued positioning could lead to further gains.</li>
</ul>


With nearly 80% of the review period complete, there could be 28 adds/deletes across the S&amp;P/ASX family of indices in September.
There is a lot of stocks for passive trackers to trade on the index changes with the largest impacts on the potential changes to the S&amp;P/ASX 200 (AS51 INDEX). 
The potential adds have outperformed the potential deletions by a LOT over the last few months and continued positioning could lead to further gains.


S&P/​​​​​​​​​ASX Index Rebalance Preview: Potential Changes from Now to September

Australia

Talga Resources Limited is a technology materials company that develops graphene and graphite supply from its wholly-owned Swedish projects. The Company has unique ore that allows graphite and graphene to be liberated at an atomic level in a cost effective way.

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Talga Resources (TLG AU)

S&P/ASX Index Rebalance (Sep 2024): Two Big Surprises; Positioning Is Mixed

The index rebalances at the close today. Stocks have moved a lot over the last couple of weeks since announcements and some positioning will be...

Brian Freitas

ASX Short Interest Weekly (Sep 13th): Mineral Resources, Westpac, Gpt, Australian Clinical Labs

We analyzed ASX short interest report for the past week and highlight short interest changes in Mineral Resources, Westpac, Gpt, Australian...

Ke Yan, CFA, FRM

Quiddity ASX Sep 24 Rebal: Two Big Surprises; Short Interest Trends; Stunning Trade Performance

Yancoal (YAL AU) and Guzman Y Gomez (GYG AU) will be added to both ASX 200 and ASX 300. These were the biggest surprises for the September 2024...

Janaghan Jeyakumar, CFA

S&P/ASX Index Rebalance Preview: Review Period Nearly Done; Big Impact Changes

There could be 30 changes for the ASX indices in September with a lot to trade for passive trackers. The adds have outperformed the deletes and...

Brian Freitas

S&P/ASX Index Rebalance Preview: Potential Changes from Now to September

There could be 28 changes for the ASX indices in September with a lot to trade for passive trackers. The adds have outperformed the deletes by a...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​ASX Index Rebalance (Sep 2024): Two Big Surprises; Positioning Is Mixed

The index rebalances at the close today. Stocks have moved a lot over the last couple of weeks since announcements and some positioning will be...

Brian Freitas

ASX Short Interest Weekly (Sep 13th): Mineral Resources, Westpac, Gpt, Australian Clinical Labs

We analyzed ASX short interest report for the past week and highlight short interest changes in Mineral Resources, Westpac, Gpt, Australian...

Ke Yan, CFA, FRM

Quiddity ASX Sep 24 Rebal: Two Big Surprises; Short Interest Trends; Stunning Trade Performance

Yancoal (YAL AU) and Guzman Y Gomez (GYG AU) will be added to both ASX 200 and ASX 300. These were the biggest surprises for the September 2024...

Janaghan Jeyakumar, CFA

S&P/​​​​​​​​​ASX Index Rebalance Preview: Review Period Nearly Done; Big Impact Changes

There could be 30 changes for the ASX indices in September with a lot to trade for passive trackers. The adds have outperformed the deletes and...

Brian Freitas

S&P/​​​​​​​​​ASX Index Rebalance Preview: Potential Changes from Now to September

There could be 28 changes for the ASX indices in September with a lot to trade for passive trackers. The adds have outperformed the deletes by a...

Brian Freitas

S&P/ASX Index Rebalance (Sep 2024): Two Big Surprises; Positioning Is Mixed

S&P/ASX Index Rebalance Preview: Review Period Nearly Done; Big Impact Changes

S&P/ASX Index Rebalance Preview: Potential Changes from Now to September