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>With the review period now complete, there could be 5 changes to the Yuanta/​P-Shares Taiwan Dividend Plus ETF in June.</li>
<li>Price changes and changes to dividend estimates have led to names dropping off the list of potential adds and deletes over the last week.</li>
<li>Constituent changes, capping and funding flows will lead to a one-way turnover of 12.7% and a one-way trade of US$1.17bn. There are 12 stocks with over 4x ADV to trade.</li>
</ul>


With the review period now complete, there could be 5 changes to the Yuanta/​P-Shares Taiwan Dividend Plus ETF in June.
Price changes and changes to dividend estimates have led to names dropping off the list of potential adds and deletes over the last week.
Constituent changes, capping and funding flows will lead to a one-way turnover of 12.7% and a one-way trade of US$1.17bn. There are 12 stocks with over 4x ADV to trade.


Yuanta Taiwan Div+ ETF Rebalance Preview: 5 Changes as Names Move Around; US$2.35bn Round-Trip Trade

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>In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the June 2024 index rebal event.</li>
<li>Today is the base date for the June 2024 index review. We expect five changes and some of these names are different from our previous set of expected ADDs/DELs.</li>
<li>We estimate one-way flow to be around US$1.3bn which translates to a turnover of around 20%.</li>
</ul>


In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the June 2024 index rebal event.
Today is the base date for the June 2024 index review. We expect five changes and some of these names are different from our previous set of expected ADDs/DELs.
We estimate one-way flow to be around US$1.3bn which translates to a turnover of around 20%.


Quiddity Leaderboard TDIV Jun 24: Five Changes Likely; US$1.3bn One-Way

<ul>
<li>In this insight, we take a look at our final expectations for ADDs/DELs for the T50 and T100 indices for the June 2024 index rebal event.</li>
<li>Today is the base date for the T50/100 June 2024 index review and there are some changes to our expectations since my last insight roughly a month ago.</li>
<li>We see one change for the T50 index and three changes for the T100 index.</li>
</ul>


In this insight, we take a look at our final expectations for ADDs/DELs for the T50 and T100 indices for the June 2024 index rebal event.
Today is the base date for the T50/100 June 2024 index review and there are some changes to our expectations since my last insight roughly a month ago.
We see one change for the T50 index and three changes for the T100 index.


Quiddity Leaderboard T50/​​​100 Jun 24: Bizlink TDIV Deletion And Some Surprises

<ul>
<li>Using data from the close on 17 May, there could be 5 changes to the Yuanta/​P-Shares Taiwan Dividend Plus ETF in June.</li>
<li>There will also be capping and funding flows that will lead to a one-way turnover of 12.6% and a one-way trade of US$1.13bn.</li>
<li>Shorts have increased on the potential adds and potential deletes and covering will lead to rally in some stocks while providing support in others at rebalance implementation.</li>
</ul>


Using data from the close on 17 May, there could be 5 changes to the Yuanta/​P-Shares Taiwan Dividend Plus ETF in June.
There will also be capping and funding flows that will lead to a one-way turnover of 12.6% and a one-way trade of US$1.13bn.
Shorts have increased on the potential adds and potential deletes and covering will lead to rally in some stocks while providing support in others at rebalance implementation.


Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: 13% One-Way Turnover & US$2.27bn Trade

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the June 2024 index rebal event.</li>
<li>According to our estimates, there are currently no expected index changes for the T50 index.</li>
<li>However, there could be five changes for the T50 and one of the expected DELs  <a href="https://www.smartkarma.com/entities/bizlink-holding-inc" target="_blank" data-smartkarma-citation="entities:6779:1" rel="noopener">Bizlink Holding (3665 TT)</a> could also be deleted from the TDIV index. </li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the June 2024 index rebal event.
According to our estimates, there are currently no expected index changes for the T50 index.
However, there could be five changes for the T50 and one of the expected DELs  Bizlink Holding (3665 TT) could also be deleted from the TDIV index. 


Quiddity Leaderboard T50/​​​100 Jun 24: Bizlink TDIV Deletion Deep in the Money

Taiwan

Nan Kang Rubber Tire Co., Ltd. manufactures tires for automobiles, trucks, buses, and motorcycles.

Depo Auto Parts Ind Co Ltd manufactures and markets various kinds of auto lamps and auto parts for After Market usage.  The Company's products include headlamps, back-up lamps, fog lamps, side bumpers, plates, etc.  Depo Auto Parts markets its products under the brand name DEPO.

Kenda Rubber Industrial Co., Ltd. manufactures and markets tires for bicycles, motorcycles, automobiles, as well as agricultural and industrial vehicles.

Kenda Rubber Industrial Co., Ltd (2106 TT)

TYC Brother Industrial Co., Ltd. manufactures and markets automobile lights. The Company is a supplier of light products to both original and replacement parts markets.  TYC Brother mainly exports its products to the United States.

Actron Technology Corporation manufactures diodes for automotive alternator.

Hota Industrial Manufacturing Co., Ltd. manufactures gears and shafts for automobiles, motorcycles, and agricultural tractors.

Superalloy Industrial Co Ltd engaged into manufacturing and retail business of aircraft parts, auto parts, aluminum and copper parts. The company is also involved into the import and export business of raw materials.

CUB ELECPARTS INC manufactures and distributes automobile parts. The Company's major products include automobile electric switches and automobile electric sensors.

Eurocharm Holdings Co., Ltd. manufactures medical equipment and motorcycle parts. The Company offers its services throughout Vietnam.

Hu Lane Associate Inc. manufactures and markets electrical terminals for automobiles, motorcycles, electronics, computers, and others.

Dana Incorporated engineers, manufactures, and distributes components and systems for worldwide automotive, heavy truck, off-highway, engine, and industrial markets. The Company also provides leasing services in selected markets.

Zhejiang Yinlun Machinery Co.,Ltd. develops, manufactures and markets steel plate oil cooler, concentric oil cooler, shell and tube oil cooler. The company's products are used in automobile engine systems and automatic transmission systems.

Zhejiang Yinlun Machinery Co,Ltd. (002126 CH)

TS TECH CO., LTD. manufactures seats for two-wheeled and four-wheeled vehicles. The Company also produces other automobile accessories.

Ningbo Huaxiang Electronic Co., Ltd. manufactures nonmetallic automobile parts such as case assembly, harness protection system, engine accessories, fuel pipe system, shock absorber accessories, and interior trim parts.

Ningbo Huaxiang Electronic Co, Ltd. (002048 CH)

HL Mando Corp manufactures and markets automotive parts and equipments.  The Company's product line includes brake systems, suspension systems, and steering systems.

JK Tyre and Industries Limited manufactures a wide range of automobile tires, tubes and flaps. The Company also operates a chain of tire outlets across India which sell the Company's tires in addition to providing a range of automotive services, including wheel alignment and tire changing.

Minth Group Ltd. manufactures exterior automobile body parts.  The Company produces structural body parts, decorative parts, and trim.  Minth supplies multinational automobile manufacturers operating in China.

Hanon Systems manufactures a variety of automotive air control equipment.  The Company's products include air conditioners, heaters, cooling modules, compressors, radiators, fans, evaporators, and condensers. Hanon Systems distributes its products on an original equipment manufacturing (OEM) basis.

Wanxiang Qianchao Co., Ltd. manufactures and markets a variety of auto parts. The Company's products include universal joints, car vibration absorbers, transmission systems, bearings, and other related parts.  Wanxiang also trades merchandises.

Minda Corporation Limited was founded in 1985. The Company's line of business includes the manufacturing of electrical equipment and supplies.

Tong Yang Industry Co., Ltd. manufactures and markets automobile and motorcycle parts such as bumpers, windshields, grilles, fenders, hoods, and light frames. The Company exports its products to North America, Europe, Central and South Americas, Southeast Asia, and the Middle East.

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Tong Yang Industry (1319 TT)

Yuanta Taiwan Div+ ETF Rebalance Preview: 5 Changes as Names Move Around; US$2.35bn Round-Trip Trade

There should be 5 changes in June. Constituent changes, capping and funding flows will lead to a 1-way turnover of 12.7% and a 1-way trade of...

Brian Freitas

Quiddity Leaderboard TDIV Jun 24: Five Changes Likely; US$1.3bn One-Way

Based on current estimates, there could be five inflow names and six outflow names with more than five days of volume to trade during the June 2024...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/100 Jun 24: Bizlink TDIV Deletion And Some Surprises

The main takeaway would be the potential deletion of Bizlink (3665 TT) from the T100 index which will also result in the name being deleted from...

Janaghan Jeyakumar, CFA

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 13% One-Way Turnover & US$2.27bn Trade

The ETF could have 5 constituent changes in June. There will also be capping and funding flows that will lead to a one-way turnover of 12.6% and a...

Brian Freitas

Quiddity Leaderboard T50/100 Jun 24: Bizlink TDIV Deletion Deep in the Money

While Bizlink has appeared as an expected DEL multiple times in our past Leaderboards, the conviction level for Bizlink's T100 deletion has never...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Yuanta Taiwan Div+ ETF Rebalance Preview: 5 Changes as Names Move Around; US$2.35bn Round-Trip Trade

There should be 5 changes in June. Constituent changes, capping and funding flows will lead to a 1-way turnover of 12.7% and a 1-way trade of...

Brian Freitas

Quiddity Leaderboard TDIV Jun 24: Five Changes Likely; US$1.3bn One-Way

Based on current estimates, there could be five inflow names and six outflow names with more than five days of volume to trade during the June 2024...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/​​​100 Jun 24: Bizlink TDIV Deletion And Some Surprises

The main takeaway would be the potential deletion of Bizlink (3665 TT) from the T100 index which will also result in the name being deleted from...

Janaghan Jeyakumar, CFA

Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: 13% One-Way Turnover & US$2.27bn Trade

The ETF could have 5 constituent changes in June. There will also be capping and funding flows that will lead to a one-way turnover of 12.6% and a...

Brian Freitas

Quiddity Leaderboard T50/​​​100 Jun 24: Bizlink TDIV Deletion Deep in the Money

While Bizlink has appeared as an expected DEL multiple times in our past Leaderboards, the conviction level for Bizlink's T100 deletion has never...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/100 Jun 24: Bizlink TDIV Deletion And Some Surprises

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 13% One-Way Turnover & US$2.27bn Trade

Quiddity Leaderboard T50/100 Jun 24: Bizlink TDIV Deletion Deep in the Money