In today’s briefing:
- Unique Rebalancing Pattern & Unique Trading Angle of the KODEX Samsung Group ETF
- (Mostly) Asia-Pac M&A: TCM, Auswide, Latin Resources, Platinum Asset, Trancom, Pacific Smiles
- Last Week in Event SPACE: Shin Kong Financial, Swire Pac, Seven & I, Korea Zinc
- Quiddity Leaderboard ChiNext Dec 24: East Group Intra-Review Deletion Causes Changes to Expectations
- Quiddity Leaderboard STAR 50/100 Dec 24: STAR 50 Exp ADD Could Outperform STAR 50 Exp DEL
- Weekly Deals Digest (22 Sep) – Fuji Soft, Elan, Trancom, Seven & I, China TCM, Platinum, K Bank
Unique Rebalancing Pattern & Unique Trading Angle of the KODEX Samsung Group ETF
- This KODEX Samsung Group ETF sees 30% AUM outflows pre-rebalancing, with the same chunk flowing back in after, especially noticeable during December.
- Over three years, local brokers sold stock baskets before rebalancing, causing notable price impacts. During this time, Samsung affiliates in the ETF delivered 3-4% returns.
- ChatGPT said:ChatGPTThis isn’t typical NAV arbitrage; it’s likely an unhedged play. Nonetheless, given the consistent price impact and accessible stock futures, it’s worth considering.
(Mostly) Asia-Pac M&A: TCM, Auswide, Latin Resources, Platinum Asset, Trancom, Pacific Smiles
- I tally 42 – 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 deals: scrip mergers forAuswide Bank (ABA AU), Latin Resources (LRS AU) & Platinum Asset Management (PTM AU); and the Tender Offer for Trancom Co Ltd (9058 JP).
- Key updates took place on: Pacific Smiles (PSQ AU), China TCM (570 HK), Greatview Aseptic Packaging (468 HK), Shin Kong Financial Holding (2888 TT), and Seven & I Holdings (3382 JP).
Last Week in Event SPACE: Shin Kong Financial, Swire Pac, Seven & I, Korea Zinc
- Stay long Shin Kong Financial Holding (2888 TT) and buy more, or get long. CTBC Financial Holding (2891 TT) may make a better run at it, and may even bump.
- It’s a hard to be bearish Swire Pacific (A) (19 HK) at 0.34x P/B. Yet the Hong Kong property market remains a challenging space. To put it mildly.
- Seven & I Holdings (3382 JP) saw breathless news articles suggesting a foreign takeover became more difficult. Not really.
Quiddity Leaderboard ChiNext Dec 24: East Group Intra-Review Deletion Causes Changes to Expectations
- The ChiNext Index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.
- The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.
- In this insight, we have presented our updated rankings for Potential ADDs and DELs for the upcoming index rebal event in December 2024.
Quiddity Leaderboard STAR 50/100 Dec 24: STAR 50 Exp ADD Could Outperform STAR 50 Exp DEL
- STAR 50 index is a tech-focused, blue-chip index in Mainland China which tracks the top 50 largest and most liquid names in the STAR market of the Shanghai Stock Exchange.
- STAR 100 index tracks the next 100 names (51st-150th ranks) and it represents the mid-cap segment of the STAR market.
- In this insight, we take a look at the potential ADDs/DELs for the STAR 50 and STAR 100 indices for the December 2024 index rebal event.
Weekly Deals Digest (22 Sep) – Fuji Soft, Elan, Trancom, Seven & I, China TCM, Platinum, K Bank
- 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: K Bank (279570 KS) has launched an IPO to raise up to US$734 million.
- Event-Driven developments: Fuji Soft Inc (9749 JP), Elan Corp (6099 JP), Trancom Co Ltd (9058 JP), Seven & I Holdings (3382 JP), China Traditional Chinese Medicine (570 HK).
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