In today’s briefing:
- MVIS Global Junior Gold Miners Index Rebalance: Couple of Adds in Asia
- Last Week in Event SPACE: Olam, Bank of Kyoto, AGL Energy, Jardine Matheson, Toshiba
- MVIS Vietnam Index Rebalance: Eight Additions & Some Big Float Changes
- Index Rebalance & ETF Flow Recap: HSCEI, FTSE JP, STAR50, Sensex, NIO, GDXJ, Vietnam
- MVIS Global Rare Earth/Strategic Metals Index Rebalance: Some Large Capping Ouflows in Australia
- Asia-Pac Weekly Risk Arb Summary: AGL Energy, Thai Rayon, Dragon Crown
MVIS Global Junior Gold Miners Index Rebalance: Couple of Adds in Asia
- Malagasy Minerals (CMM AU) and Bumi Resources Minerals Tbk (BRMS IJ) will be added to the MVIS Global Junior Gold Miners Index at the close on 18 March.
- The Vaneck Jr Gold Miners (GDXJ US) ETF tracks the index and has an AUM of US$5.2bn. So there will be an impact on the adds, deletes and other stocks.
- There are a few stocks in Australia that will have inflows from the GDXJ US ETF apart from the FTSE All-Cap and S&P/ASX 300 trackers on the same day.
Last Week in Event SPACE: Olam, Bank of Kyoto, AGL Energy, Jardine Matheson, Toshiba
- With many cash grain/agri prices touching record highs amid war in Ukraine, boasting an upstream supply is not a bad thing. Yet Olam (OLAM SP) is a tricky beast to analyze.
- Bank of Kyoto (8369 JP) would be a screaming buy vs its basket a bit lower. As it is, it’s the same level after the bank changed its payout ratio.
- The duo of Brookfield and Atlassian/Australian billionaire Mike Cannon-Brookes has lobbed a higher offer for AGL Energy Ltd (AGL AU) and AGL has rejected it.
MVIS Vietnam Index Rebalance: Eight Additions & Some Big Float Changes
- There are 8 additions to the MVIS Vietnam Index at the upcoming rebalance at the close on 18 March. Moderate impact on most of the adds.
- There are some stocks that have large float changes; watch Saigon Thuong Tin Commercial (STB VN). Over 1 day of ADV to sell on some stocks due to capping changes.
- At the December rebalance, all 5 adds jumped the day post announcement and then stayed in a range till implementation of the changes.
Index Rebalance & ETF Flow Recap: HSCEI, FTSE JP, STAR50, Sensex, NIO, GDXJ, Vietnam
- The Korea Stock Exchange Kospi 200 Index (KOSPI2 INDEX) and SSE STAR50 (STAR50 INDEX) rebalances were implemented during the week. NIO Inc (9866 HK) started trading in Hong Kong.
- Busy week coming up with the implementation of the KOSDAQ 150 Index, S&P/ASX 200 and the FTSE indices including All-World/All-Cap, China 50, XIN9I INDEX, Taiwan50 and EPRA Nareit.
- The changes to the MVIS Global Junior Gold Miners Index and the MVIS Vietnam Index were announced post market close on 11 March and will be implemented on 18 March.
MVIS Global Rare Earth/Strategic Metals Index Rebalance: Some Large Capping Ouflows in Australia
- There are no adds/deletes to the MVIS Global Rare Earth/Strategic Metals Index at the March rebalance. However, there are changes to free floats and capping factors.
- The largest impacts are on ioneer Ltd (INR AU), AVZ Minerals (AVZ AU), Australian Strategic Materials (ASM AU), Iluka Resources (ILU AU) and Pilbara Minerals (PLS AU).
- The non-inclusion of Core Lithium Ltd (CXO AU) and Lake Resources Nl (LKE AU) could lead to a selloff tomorrow. Both stocks are FTSE All-Cap and S&P/ASX300 inclusions on Friday.
Asia-Pac Weekly Risk Arb Summary: AGL Energy, Thai Rayon, Dragon Crown
- There are currently 44 – mostly firm – transactions currently being discussed and analysed on Smartkarma
- One new deal this week: Surya’s Kiran’s MTO for Thai Rayon Public Co Ltd (TR TB)
- Key updates took place for: AGL Energy Ltd (AGL AU) and Dragon Crown Group (935 HK).
Before it’s here, it’s on Smartkarma
