In today’s briefing:
- ChiNext/ChiNext 50 Index Rebalance: US$1bn Round-Trip Trade
- Quiddity STAR 50/100 Jun 24 Rebalance: US$1bn+ One-Way Flow; Some Surprises; New Trade
- Tech Supply Chain Tracker (04-Jun-2024): Chinese semiconductors & tech.
- NVX: Multiple Agreements to Secure Demand
ChiNext/ChiNext 50 Index Rebalance: US$1bn Round-Trip Trade
- There are 7 changes for the ChiNext Index (SZ399006 INDEX) and 5 changes for the ChiNext 50 Index at the June rebalance.
- We correctly forecast 5/7 and 7/7 for the Chinext Index adds/deletes and were 3/5 and 5/5 for the Chinext50 Index adds/deletes.
- Based on the estimated passive tracking AUM, the one-way trade across both indices is estimated to be CNY 3.69bn (US$508m).
Quiddity STAR 50/100 Jun 24 Rebalance: US$1bn+ One-Way Flow; Some Surprises; New Trade
- The June 2024 index review results for the STAR 50 and STAR 100 indices were announced after market close on Friday 31st May 2024.
- There will be 3 changes for the STAR 50 index and 9 changes for the STAR 100 index.
- We expect one-way flows of approximately US$750mn and US$314mn for the STAR 50 and STAR 100 index rebal events in June 2024.
Tech Supply Chain Tracker (04-Jun-2024): Chinese semiconductors & tech.
- SK Hynix leads in next-gen HBM innovation, setting pace with Indian startup FermionIC aiming for market domination.
- AMD releases new processors for data centers and PCs promising improved performance and efficiency with Instinct, Ryzen, and EPYC.
- India partners with Taiwan for semiconductor ecosystem development, while Russia plans to produce 350nm chips with self-developed EUV machines in 2024.
NVX: Multiple Agreements to Secure Demand
- A near-term key NVX goal is to secure additional customers and lock in demand.
- NVX recently formed an agreement with PowerCo SE, part of the Volkswagen Group, to develop, test and analyze synthetic graphite anode materials customized for PowerCo’s requirements.
- If successful, this could lead to a new supply agreement.
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