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Aug 24 Indices Rebalance: Brazil Takes the EM Flow, SA & China Downweighted Again (Tencent)

South Africa: Medium Term Budget Policy Statement to Be Announced on October 30

Brazil: High Expenditure Levels Challenge Fiscal Stability

May 24 Indices Rebalance: SA & China Net Sells, NPN, PRX & Tencent Sold Down on Buybacks

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Tencent/Netease: Major Names Get Zeroed in May, Smells of Common Prosperity?

Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Event-Driven

<ul>
<li>Global indices are due for rebalancing during the closing auction on Friday. Constituent changes will be announced after the close next week Monday.</li>
<li>In this note we flag <a href="https://www.smartkarma.com/entities/mr-price-group-ltd" target="_blank" data-smartkarma-citation="entities:27680:1" rel="noopener">Mr Price Group Ltd (MRP SJ)</a> &amp; <a href="https://www.smartkarma.com/entities/african-rainbow-minerals-ltd" target="_blank" data-smartkarma-citation="entities:25078:1" rel="noopener">African Rainbow Minerals (ARI SJ)</a> as possible additions to the South Africa index.</li>
<li>Since our last discount update on the 22nd of July, Prosus has underperformed Naspers. The discount has widened by 1.7 percentage points to 39.6%.</li>
</ul>


Global indices are due for rebalancing during the closing auction on Friday. Constituent changes will be announced after the close next week Monday.
In this note we flag Mr Price Group Ltd (MRP SJ) &amp; African Rainbow Minerals (ARI SJ) as possible additions to the South Africa index.
Since our last discount update on the 22nd of July, Prosus has underperformed Naspers. The discount has widened by 1.7 percentage points to 39.6%.


Aug 24 Indices Rebalance: South Africa Post-Election Tailwind? MRP, ARI Potential Adds