In today’s briefing:
- EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
- Weekly Deals Digest (13 Nov) – Toshiba, Uzabase, Origin Energy, Perpetual, Golden Energy, I-Tail
- Index Rebalance & ETF Flow Recap: MSCI STD, Jardine C&C, Golden Agri, Delhivery, Origin Energy
- Last Week in Event SPACE: Tata Motors, Origin Energy, OZ Minerals, Toshiba
- (Mostly) Asia-Pac Weekly Risk Arb Wrap: Origin, Totoku Electric, Uzabase, Golden Energy, Perpetual
- Hong Kong CEO & Director Dealings (11 Nov): C C Land, Impro Precision, SingAsia, Pharmaron
EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades
- Weekly summary of vol changes and moves across Global Markets
- Analysing ATM volatility and skew changes over the last 5 days
- We suggest a few trades to take advantage of the implied vol surfaces
Weekly Deals Digest (13 Nov) – Toshiba, Uzabase, Origin Energy, Perpetual, Golden Energy, I-Tail
- A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Japan, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
- ECM developments – I-Tail (ITC TB) is set to launch it’s up to US$600 million SET IPO.
- Event-Driven developments – Toshiba Corp (6502 JP), Uzabase Inc (3966 JP), Golden Energy & Resources (GER SP), Perpetual Ltd (PPT AU)/Pendal Group (PDL AU), Origin Energy (ORG AU).
Index Rebalance & ETF Flow Recap: MSCI STD, Jardine C&C, Golden Agri, Delhivery, Origin Energy
- On Friday, MSCI announced the changes to its indices as part of the November SAIR. Most changes were expected, but there were a few surprises.
- Friday was also the review cutoff for the FTSE Dec QIR. Next Friday has announcement of changes to the Hang Seng, Sensex and FTSE indices.
- Big inflow to iShares Core MSCI Emerging Markets ETF (IEMG US) during the week as inflows to IShares Edge MSCI Min Vol Emerging Markets ETF (EEMV US) continue.
Last Week in Event SPACE: Tata Motors, Origin Energy, OZ Minerals, Toshiba
- Tata Motors Ltd (TTMT IN) will eliminate its ADS program. This is another potentially juicy trade.
- Canada’s Brookfield, along with EIG look to take over Origin Energy (ORG AU), one of Australia’s largest energy companies.
- This OZ Minerals Ltd (OZL AU) trade is fundamentally a bit short gamma on copper. If copper takes another dive, then it may no longer be interesting to be long.
(Mostly) Asia-Pac Weekly Risk Arb Wrap: Origin, Totoku Electric, Uzabase, Golden Energy, Perpetual
- There are 48 – mostly firm, mostly Asia-Pac – transactions currently being discussed and analysed on Smartkarma. Inside is a timetable of upcoming key events for each deal
- Four new deal were discussed on Smartkarma this week: Origin Energy (ORG AU), Totoku Electric (5807 JP), Uzabase Inc (3966 JP), and Golden Energy & Resources (GER SP)
- Key updates took place for: Perpetual Ltd (PPT AU)/Pendal Group (PDL AU), Jinke Smart Services (9666 HK), Toshiba Corp (6502 JP), and Eagle Cement Corp (EAGLE PM).
Hong Kong CEO & Director Dealings (11 Nov): C C Land, Impro Precision, SingAsia, Pharmaron
- The data in this insight is collated from the “shareholding disclosure” link on the HKEx website.
- Often there is a corresponding HKEx announcement on the increase – or decrease – in the shareholding by directors. However, such disclosures are by no means an absolute.
- These insights may flag those companies where shares have been pledged. Stocks mentioned include C C Land Holdings (1224 HK), Impro Precision Industries (1286 HK), and SingAsia Holdings (8293 HK).
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