In today’s briefing:
- WisdomTree Emerging Markets High Dividend Index Rebalance: Huge Turnover & Trade Next Week
- GoTo Gojek Tokopedia (GOTO IJ) – Building Positive Resonance with New Initiatives
WisdomTree Emerging Markets High Dividend Index Rebalance: Huge Turnover & Trade Next Week
- The WisdomTree Emerging Markets High Dividend Index is a fundamentally weighted index that measures the performance of high dividend yield stocks within emerging markets.
- The October rebalance will result in a one-way turnover of ~37% and in a one-way trade of US$926m. There are 92 stocks with over 1 day of ADV to trade.
- In Asia, the largest buy flows are expected on Astra International (ASII IJ) and the largest sell flows on POSCO Holdings (005490 KS).
GoTo Gojek Tokopedia (GOTO IJ) – Building Positive Resonance with New Initiatives
- GoTo Gojek Tokopedia may see a stabilisation of the declines in GTV that it has experienced over the last 2Qs, with some of the platform’s new initiatives gaining traction.
- The closure of TikTok Shop should be positive at the margin for Tokopedia but it has also rolled back its platform fee, which has had a positive impact on growth.
- New initiatives include GoRide Transit, GoCorp, GoTo PLUS, and the GoPay app, with the latter seeing strong take-up. 3Q2023 results should reveal more details on initiatives. All-time low seems unjustified.
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