In today’s briefing:
- The BIGLY TOPIX April 2022 Rebalance – $20bn One-Way Split Over 3 Months
- Last Week in Event SPACE: Toshiba, Pendal, HDFC Bank, YZJ Shipbuilding, BHP, Virtus
The BIGLY TOPIX April 2022 Rebalance – $20bn One-Way Split Over 3 Months
- The TSE launched its new cash equity market structure earlier this week. The TOPIX Index changes include a one-off FFW Methodology Review, where results were announced today.
- The changes announced today go part-way to fixing float issues, but there will be follow-on changes in October, and one should expect companies to react with share cancellations.
- The big gainer in this TOPIX rebal is NTT (Nippon Telegraph & Telephone) (9432 JP). There are a fair number of “losers.” The 3-month total trade is about ¥2.3trln one-way.
Last Week in Event SPACE: Toshiba, Pendal, HDFC Bank, YZJ Shipbuilding, BHP, Virtus
- #2 shareholder and erstwhile activist 3D Investment Partners writes a letter to Toshiba Corp (6502 JP)‘s Board demanding 3 measures before the AGM.
- Pendal Group (PDL AU) is assessing Perpetual’s cash/scrip Offer provides an indicative price of $6.23/share; however, the wording in the announcement suggests the bid is opportunistic and will be rejected.
- Because of rising regulatory requirements for NBFCs, a HDFC Bank (HDFCB IN) /HDFC Limited (HDFC IN) was to be expected at some point.
Before it’s here, it’s on Smartkarma
