In today’s briefing:
- FTSE GEIS March 2022 SAIR: Changes, Switches & Same-Way Index Flow
- 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
- Asia-Pac Weekly Risk Arb Summary: Crown Resorts, GJ Steel, Western Areas, Aussie Pharma, DTAC/True
- Japan’s Governance: Diversity Is Strength：Update
- HSIE Results Daily: Nestle India, PNC Infratech
FTSE GEIS March 2022 SAIR: Changes, Switches & Same-Way Index Flow
- FTSE announced the results of the March SAIR for the FTSE All-World/All-Cap indices on Friday. There are 337 changes (adds, deletes, migrations across AW/AC) across Asia-Pac.
- Nongfu Spring (9633 HK) will have the largest inflows and is a high probability inclusion to the FTSE China 50 index. Its inclusion in the HSI INDEX was announced Friday.
- FTSE will switch index membership from the US ADRs to the HK listings for ZTO Express, GDS Holdings, Baidu and Bilibili. This should result in larger CCASS holdings.
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).
Asia-Pac Weekly Risk Arb Summary: Crown Resorts, GJ Steel, Western Areas, Aussie Pharma, DTAC/True
- There are currently 43 – mostly firm – transactions currently being discussed and analysed on Smartkarma.
- One new deal this week: the unconditional Offer for Hock Seng Lee (HSL MK).
- Key updates took place for: Crown Resorts (CWN AU), Western Areas (WSA AU), Australian Pharmaceutical Industries (API AU), True/DTAC, and G J Steel PCL (GJS TB).
Japan’s Governance: Diversity Is Strength：Update
- I have introduced Monogatari Corporation (3097) before as a listed company that has been implementing advanced diversity initiatives. This article will update as I participated in the analyst meeting.
- The essence of D&I is to instill a culture of “it’s okay for everyone to be different,” so that each person is not afraid to voice his or her opinion.
- By having each person express their opinion, it creates a culture of discussion within the company. President Kato says that there are three benefits to this.
HSIE Results Daily: Nestle India, PNC Infratech
- PNC Infratech: PNC Infratech (PNC) reported a muted quarter (owing to delay in execution of Jal Jeevan Mission (JJM) projects) with revenue/EBITDA/APAT of INR 15.2/2/1.1bn missing our estimates by 8/10/20%.
- Whilst FYTD22 order inflow was tepid at INR 27bn, PNC maintained its INR 80bn order inflow target for FY22. In the water segment (INR 41bn OB), PNC has INR 32bn OB under JJM (ex of INR 23.4bn of new JJM projects won Jan-22).
- .
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.
Before it’s here, it’s on Smartkarma
