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>We forecast 26 changes across the ASX50 Index, ASX100 Index, <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 ASX300 Index at the September rebalance.</li>
<li>The review period ends tomorrow, so most changes are high probability. Though there are some changes that will be up to the discretion of the index committee.</li>
<li>There will be a lot of stock to trade on the changes to the ASX200 and indices higher up the hierarchy. But there will be a lot of pre-positioning too.</li>
</ul>


We forecast 26 changes across the ASX50 Index, ASX100 Index, S&amp;P/ASX 200 (AS51 INDEX) and ASX300 Index at the September rebalance.
The review period ends tomorrow, so most changes are high probability. Though there are some changes that will be up to the discretion of the index committee.
There will be a lot of stock to trade on the changes to the ASX200 and indices higher up the hierarchy. But there will be a lot of pre-positioning too.


S&P/​​​​​​​​​ASX Index Rebalance Preview: Potential Adds Have Outperformed

<ul>
<li>Busy week in India with the adhoc changes to the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY</a>, <a href="https://www.smartkarma.com/entities/nse-nifty-next-50-index" target="_blank" data-smartkarma-citation="entities:36053:1" rel="noopener">NSE Nifty Next 50</a>, <a href="https://www.smartkarma.com/entities/s-p-bse-sensex-index" target="_blank" data-smartkarma-citation="entities:31494:1" rel="noopener">S&amp;P BSE SENSEX</a> and <a href="https://www.smartkarma.com/entities/nse-nifty-bank-index" target="_blank" data-smartkarma-citation="entities:26811:1" rel="noopener">Nifty Bank</a> due to the <a href="https://www.smartkarma.com/entities/housing-development-finance" target="_blank" data-smartkarma-citation="entities:252:1" rel="noopener">HDFC Limited</a> and <a href="https://www.smartkarma.com/entities/hdfc-bank-ltd-4b6b7a92-9087-468d-9dbe-ab169e77f014" target="_blank" data-smartkarma-citation="entities:558:1" rel="noopener">HDFC Bank</a> merger.</li>
<li>The IDX could announce the changes to the IDX30, LQ45 and IDX80 indices in the coming week, though there is no firm schedule for announcements.</li>
<li>Yet another week of inflows to the <a href="https://www.smartkarma.com/entities/tracker-fund-of-hong-kong-ltd" target="_blank" data-smartkarma-citation="entities:29257:1" rel="noopener">Tracker Fund of Hong Kong Ltd (2800 HK)</a> ETF and outflows from the <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index-etf" target="_blank" data-smartkarma-citation="entities:25:1" rel="noopener">Hang Seng H Share Index ETF (2828 HK)</a>. </li>
</ul>


Busy week in India with the adhoc changes to the NIFTY, NSE Nifty Next 50, S&amp;P BSE SENSEX and Nifty Bank due to the HDFC Limited and HDFC Bank merger.
The IDX could announce the changes to the IDX30, LQ45 and IDX80 indices in the coming week, though there is no firm schedule for announcements.
Yet another week of inflows to the Tracker Fund of Hong Kong Ltd (2800 HK) ETF and outflows from the Hang Seng H Share Index ETF (2828 HK). 


Index Rebalance & ETF Flow Recap: ASX, Chinext, URA, Korea Stocks, NKY

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 Jun 9th (reported today) which has an aggregated short interest worth USD16.2bn.</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 IDP Education, Rio Tinto, Igo, Sayona Mining, BHP, Suncorp.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jun 9th (reported today) which has an aggregated short interest worth USD16.2bn.
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 IDP Education, Rio Tinto, Igo, Sayona Mining, BHP, Suncorp.


ASX Short Interest Weekly (Jun 9th): IDP Education, Rio Tinto, Igo, Sayona Mining, BHP, Suncorp

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Feb 17th (reported today) which has an aggregated short interest worth USD14.9bn.</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 Suncorp, Corporate Travel, Incitec Pivot, Bhp, Endeavour.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Feb 17th (reported today) which has an aggregated short interest worth USD14.9bn.
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 Suncorp, Corporate Travel, Incitec Pivot, Bhp, Endeavour.


ASX Short Interest Weekly (Feb 17th): Suncorp, Corporate Travel, Incitec Pivot, BHP, Endeavour

<ul>
<li>We currently see 1 change for the ASX20 Index, 2 changes for the ASX100 Index, 4 changes for the ASX200 Index, 10 adds/7 deletes for the ASX300 Index in March.</li>
<li>On average, the potential adds to each of the indices have outperformed the potential deletes with the largest outperformance for the ASX300 Index.</li>
<li>Shorts have continued to increase positions on the potential deletes while covering their positions on the potential adds. We expect there are large pre-positions on some of the stocks now.</li>
</ul>


We currently see 1 change for the ASX20 Index, 2 changes for the ASX100 Index, 4 changes for the ASX200 Index, 10 adds/7 deletes for the ASX300 Index in March.
On average, the potential adds to each of the indices have outperformed the potential deletes with the largest outperformance for the ASX300 Index.
Shorts have continued to increase positions on the potential deletes while covering their positions on the potential adds. We expect there are large pre-positions on some of the stocks now.


S&P/​​​​​​​ASX Index Rebalance Preview: Review Period (Nearly) Complete

Australia

Vulcan Steel Ltd operates as a metals distributing and processing company. The Company offers stainless and engineering steel products. Vulcan Steel serves customers in Australia and New Zealand.

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Vulcan Steel (VSL AU)

S&P/ASX Index Rebalance Preview: Potential Adds Have Outperformed

We forecast 26 changes across the ASX50, ASX100, ASX 200 and ASX300 indices at the September rebalance. There is big flow and impact on a lot of...

Brian Freitas

Index Rebalance & ETF Flow Recap: ASX, Chinext, URA, Korea Stocks, NKY

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

Brian Freitas

ASX Short Interest Weekly (Jun 9th): IDP Education, Rio Tinto, Igo, Sayona Mining, BHP, Suncorp

We analyzed ASX short interest report for the past week and highlight short interest changes in IDP Education, Rio Tinto, Igo, Sayona Mining, BHP,...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Feb 17th): Suncorp, Corporate Travel, Incitec Pivot, BHP, Endeavour

We analyzed ASX short interest report for the past week and highlight short interest changes in Suncorp, Corporate Travel, Incitec Pivot, Bhp,...

Ke Yan, CFA, FRM

S&P/ASX Index Rebalance Preview: Review Period (Nearly) Complete

We forecast 1 change for the ASX20, 2 for the ASX100, 4 for the ASX 200 & 10 adds/7 deletes for the ASX300 in March. Adds have outperformed deletes...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​​​​​​ASX Index Rebalance Preview: Potential Adds Have Outperformed

We forecast 26 changes across the ASX50, ASX100, ASX 200 and ASX300 indices at the September rebalance. There is big flow and impact on a lot of...

Brian Freitas

Index Rebalance & ETF Flow Recap: ASX, Chinext, URA, Korea Stocks, NKY

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

Brian Freitas

ASX Short Interest Weekly (Jun 9th): IDP Education, Rio Tinto, Igo, Sayona Mining, BHP, Suncorp

We analyzed ASX short interest report for the past week and highlight short interest changes in IDP Education, Rio Tinto, Igo, Sayona Mining, BHP,...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Feb 17th): Suncorp, Corporate Travel, Incitec Pivot, BHP, Endeavour

We analyzed ASX short interest report for the past week and highlight short interest changes in Suncorp, Corporate Travel, Incitec Pivot, Bhp,...

Ke Yan, CFA, FRM

S&P/​​​​​​​ASX Index Rebalance Preview: Review Period (Nearly) Complete

We forecast 1 change for the ASX20, 2 for the ASX100, 4 for the ASX 200 & 10 adds/7 deletes for the ASX300 in March. Adds have outperformed deletes...

Brian Freitas

S&P/ASX Index Rebalance Preview: Potential Adds Have Outperformed

S&P/ASX Index Rebalance Preview: Review Period (Nearly) Complete