In today’s briefing:
- FTSE China A50 Index Rebalance Preview: PetroChina & EVE Energy Are Potential Adds
- FTSE China 50 Index Rebalance Preview: Yankuang Energy (1171) Could Replace Shenzhou Intl (2313)
FTSE China A50 Index Rebalance Preview: PetroChina & EVE Energy Are Potential Adds
- PetroChina (601857 CH) and EVE Energy (300014 CH) could replace China Pacific Insurance (Group) (601601 CH) and Zhangzhou Pientzehuang Pharmaceutical Co. (600436 CH) in the index at the September rebalance.
- Assuming both changes are implemented, estimated one-way turnover is 2.24% and will result in a one-way trade of CNY 1,180m.
- There has been no announcement from FTSE yet on the potential increase in the number of index constituents from 50 to 100.
FTSE China 50 Index Rebalance Preview: Yankuang Energy (1171) Could Replace Shenzhou Intl (2313)
- Yankuang Energy Group (1171 HK) is the highest ranked eligible non-constituent and could replace Shenzhou Intl Group Holdings (2313 HK) in the index at the September rebalance.
- Passive trackers will need to buy over 1 day of ADV on Yankuang Energy Group (1171 HK) while selling over 1 days ADV on Shenzhou Intl Group Holdings (2313 HK).
- Short interest is over 10% of float on Yankuang Energy Group (1171 HK) and there could be short covering as the stock breaks out.
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