In today’s briefing:
- HSCI Index Rebalance: 29 Adds, 12 Deletes & Changes to Stock Connect
- Index Rebalance & ETF Flow Recap: HSI, HSCEI, HSTECH, HSCI, S&P/ASX, SET50, LIC, SBI Sumishin, Crown
- ECM Weekly (20th Feb 2022) – LIC, SBI Sumishin, Huitongda, Delhivery, Vedant, Persol, Emcure, Linom
- Meituan Short Gains Reward
HSCI Index Rebalance: 29 Adds, 12 Deletes & Changes to Stock Connect
- There are 29 inclusions and 12 deletions for the HSCI at the March rebalance. 26 of the inclusions will be added to Connect while all deletes will leave Stock Connect.
- Some of the Stock Connect deletions have a lot of mainland holdings and there could unwinding of some of the positions ahead of becoming sell-only on the link.
- Orient Overseas International, United Energy, Cloud Village and Gcl Poly Energy Holdings Limited could also move higher over the next couple of weeks before the stocks enter Stock Connect.
Index Rebalance & ETF Flow Recap: HSI, HSCEI, HSTECH, HSCI, S&P/ASX, SET50, LIC, SBI Sumishin, Crown
- Hang Seng announced the results of the March rebalance post market close Friday. Two adds for the HSI, one set of changes for HSCEI, three sets for HSTECH.
- An ad hoc rebalance was announced for the KOSDAQ150 following Osstem being designated an ‘Administrative Issue’. In IPO world, we have LIC in India and SBI Sumishin NetBank coming up.
- Friday was the review cutoff date for the March rebalance of the ASX200 Index. The ATO has provided Aventus with the tax ruling and that creates a timing issue.
ECM Weekly (20th Feb 2022) – LIC, SBI Sumishin, Huitongda, Delhivery, Vedant, Persol, Emcure, Linom
- Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
- Life Insurance Corp of India (1248Z IN) and SBI Sumishin Net Bank (7163 JP) are set to keep everyone busy till March.
- On the placement front, Japanese accelerated selldowns continue their stellar record with Persol Holdings (2181 JP).
Meituan Short Gains Reward
- Meituan short near 300 and on the bear wedge break has paid off. Friday’s price action is disturbing and warrants a downgrade.
- The breakdown below flat range/triangle support is a big negative on the back of sell volume. Bear triangle breaks are often volatile affairs.
- 142 is the fresh downside projection. 200 represents the sell barrier to work with.
Before it’s here, it’s on Smartkarma
