Daily Brief Consumer: Rakuten, TVS Motor , Golden Eagle Retail and more

In today’s briefing:

Last Week in Event SPACE:Tax-Loss Selling In Australia, China Conch/Anhui Conch, Canon, Rakuten
Index Rebalance & ETF Flow Recap: CSI300/500, Chinext, China Semi Chips, Nifty Next50, SET50, REMX
(Mostly) Asia-Pac Weekly Risk Arb Wrap: Golden Eagle, Challenger Tech, Yashili, Yitai Coal, MPI

Last Week in Event SPACE:Tax-Loss Selling In Australia, China Conch/Anhui Conch, Canon, Rakuten

Australian tax-loss selling is a thing. Retail investors will take gains on things that run up in price, or get taken over, then look for losses.
The China Conch Venture Holdings (586 HK) / Anhui Conch Cement (600585 CH) ratio is at an all-time low. The implied stub is re-testing its all-time low.
Historically, Canon (7751 JP)‘s buybacks are aggressive. It may pay to observe market data to see when they are done. It may also pay to look at peer outperformance cycles.

It was a busy week with index rebalance implementations and announcements of index changes.
The coming week has the KOSPI200 and KOSDAQ150 rebalancing on Thursday and a bunch of onshore China indices rebalancing on Friday.
There were big inflows to China ETFs during the week while the largest inflows went to the Tracker Fund of Hong Kong Ltd (2800 HK) ETF.

There are 38 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal.
Two new deals were discussed on Smartkarma this week: Golden Eagle Retail (3308 HK)‘s Scheme; and Challenger Technologies (CHLG SP)‘s voluntary unconditional cash offer
Key updates took place for Yashili International Holdings (1230 HK), Inner Mongolia Yitai Coal B (900948 CH), and Metro Pacific Investments Co (MPI PM).

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