In today’s briefing:
- FTSE TWSE Taiwan 50 Index Rebalance: Far Eastern New Century IN; AUO OUT
- Toshiba Privatisation In Trouble
- S&P ASX Dec 22 Rebalance: MND Is the Top Pick
FTSE TWSE Taiwan 50 Index Rebalance: Far Eastern New Century IN; AUO OUT
- Far Eastern New Century (1402 TT) will replace AU Optronics (2409 TT) in the FTSE TWSE Taiwan 50 Index at the close on 16 December.
- Passive trackers will need to buy 4.8 days of ADV on Far Eastern New Century (1402 TT) and sell 1.9 days of ADV on AU Optronics (2409 TT).
- There will be same way flow from FTSE TWSE Taiwan Dividend+ Index trackers on both stocks and that will significantly add to the passive flow.
Toshiba Privatisation In Trouble
- After a few successive rounds of Management and Board Proposals were shot down, last March Toshiba Corp (6502 JP) embarked on a process to generate a privatisation proposal.
- The result has ended up with one, maybe two privatisation proposals in the offing. The “leading” candidate’s proposal will not fly as proposed. The other is MIA for the moment.
- That leaves a complicated situation. Activists+active holders are stuck with Toshiba and vice versa. They want change, and out, and financiers do too. Change happens. The question is how.
S&P ASX Dec 22 Rebalance: MND Is the Top Pick
- The index changes for the S&P ASX Index family for the December 2022 Rebalance were announced after the close on Friday 2nd December 2022.
- There will be one ADD/DEL for the ASX 50 index and one ADD/DEL for the ASX 200 index.
- In this insight, we take a closer look at our expectations for index flows and potential trading ideas.
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