Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Highly experienced ex-Delta One trader with 17 years of experience trading arbitrage and related strategies across Asian markets.

Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd.

It is important to note that the information provided by Periscope Analytics is based on publicly available data and own knowledge, which has been gathered and synthesized from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions.

All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include, but are not limited to, company announcements, exchange filings, ETF and other passive investment vehicle holdings, and free float and volume data from third-party data providers. Periscope Analytics does not guarantee the accuracy and completeness of the forecasts, estimates and/or other information.

Pan-Asia Index Rebalances/ Events/ Delta One

STAR Board - STAR50 Index Rebalance: Another BIG One

STAR50 Index Rebalance June Preview: Selloff Presents Opportunity

STAR Board - STAR50 Index Rebalance June Preview: Falling Volumes Increasing Impact

STAR 50 Index Rebalance: We Thought BIG, Turns Out Its BIGGER

STAR Board: STAR50 Index - The December Rebalance Is Going to Be BIG

STAR Board: STAR50 Index Rebalance March21: Rising AUM and a New Index Make an Exciting Combination

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

Event-Driven

Cambricon Technologies  Lt / Event-Driven

The <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a> is made up of 50 stocks with the largest full market cap and good liquidity listed on the SSE Science and Technology Innovation Board (the STAR Market). The index is free float market cap weighted and the weight of each stock is capped at 10%. In addition, the total weight of the top 5 constituents should not exceed 40%.The data cut-off for the March review ends on 31 January. The results of the review will be announced towards the end of February and the review will be effective after the close of trading on 12 March.Having gone through over 97% of the review period, we see 13 stocks eligible for index inclusion and 16 stocks in the deletion zone. With only 5 changes permitted in a single review, that is what we will have to settle for. What that also means is that there will be more changes at the June review.For the March review, we see <a href="https://www.smartkarma.com/entities/cambricon-technologies-corp" target="_blank" data-smartkarma-citation="entities:31068:1" rel="noopener">Cambricon Technologies Corp (688256 CH)</a>, <a href="https://www.smartkarma.com/entities/qi-an-xin-technology-group-a" target="_blank" data-smartkarma-citation="entities:31069:1" rel="noopener">Qi An Xin Technology Group (688561 CH)</a>, <a href="https://www.smartkarma.com/entities/shanghai-junshi-bioscience-a" target="_blank" data-smartkarma-citation="entities:31070:1" rel="noopener">Shanghai Junshi Bioscience (688180 CH)</a>, <a href="https://www.smartkarma.com/entities/trina-solar-co-ltd" target="_blank" data-smartkarma-citation="entities:30404:1" rel="noopener">Trina Solar Co Ltd (688599 CH)</a> and <a href="https://www.smartkarma.com/entities/farasis-energy-gan-zhou-co-a" target="_blank" data-smartkarma-citation="entities:28385:1" rel="noopener">Farasis Energy Gan Zhou (688567 CH)</a> being included in the index.<div>
We expect <a href="https://www.smartkarma.com/entities/longyan-zhuoyue-new-energy-co" target="_blank" data-smartkarma-citation="entities:30364:1" rel="noopener">Longyan Zhuoyue New Energy Co (688196 CH)</a>, <a href="https://www.smartkarma.com/entities/suzhou-tztek-technology-co-a" target="_blank" data-smartkarma-citation="entities:28232:1" rel="noopener">Suzhou Tztek Technology Co-A (688003 CH)</a>, <a href="https://www.smartkarma.com/entities/beijing-seeyon-internet-so-a" target="_blank" data-smartkarma-citation="entities:30393:1" rel="noopener">Beijing Seeyon Internet So-A (688369 CH)</a>, <a href="https://www.smartkarma.com/entities/tianjin-jiuri-new-material-a" target="_blank" data-smartkarma-citation="entities:30366:1" rel="noopener">Tianjin Jiuri New Material-A (688199 CH)</a> and <a href="https://www.smartkarma.com/entities/fujian-forecam-optics-co-ltd" target="_blank" data-smartkarma-citation="entities:30306:1" rel="noopener">Fujian Forecam Optics Co Ltd (688010 CH)</a> to be deleted from the index to make way for the inclusions. One-way turnover is around 10%.
There has been a small outflow from the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a> ETFs since our last Insight, but that will have minimal impact on the rebalance.
The expected adds and deletes are the same from our earlier <a href="https://www.smartkarma.com/insights/star50-index-rebalance-preview-march21-rising-aum-and-a-new-index-make-an-exciting-combination" target="_blank" rel="noopener">Insight</a>. Since then, a trade of buying the expected adds and selling the expected deletes has returned 24%. There could be further moves as we near the near the end of the review period, and then once the announcement is made.
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The SSE STAR50 (STAR50 INDEX) is made up of 50 stocks with the largest full market cap and good liquidity listed on the SSE Science and Technology Innovation Board (the STAR Market). The index is free float market cap weighted and the weight of each stock is capped at 10%. In addition, the total weight of the top 5 constituents should not exceed 40%.The data cut-off for the March review ends on 31 January. The results of the review will be announced towards the end of February and the review will be effective after the close of trading on 12 March.Having gone through over 97% of the review period, we see 13 stocks eligible for index inclusion and 16 stocks in the deletion zone. With only 5 changes permitted in a single review, that is what we will have to settle for. What that also means is that there will be more changes at the June review.For the March review, we see Cambricon Technologies Corp (688256 CH), Qi An Xin Technology Group (688561 CH), Shanghai Junshi Bioscience (688180 CH), Trina Solar Co Ltd (688599 CH) and Farasis Energy Gan Zhou (688567 CH) being included in the index.
We expect Longyan Zhuoyue New Energy Co (688196 CH), Suzhou Tztek Technology Co-A (688003 CH), Beijing Seeyon Internet So-A (688369 CH), Tianjin Jiuri New Material-A (688199 CH) and Fujian Forecam Optics Co Ltd (688010 CH) to be deleted from the index to make way for the inclusions. One-way turnover is around 10%.
There has been a small outflow from the SSE STAR50 (STAR50 INDEX) ETFs since our last Insight, but that will have minimal impact on the rebalance.
The expected adds and deletes are the same from our earlier Insight. Since then, a trade of buying the expected adds and selling the expected deletes has returned 24%. There could be further moves as we near the near the end of the review period, and then once the announcement is made.


Longyan Zhuoyue New Energy Co., Ltd. (688196 CH)

Tianjin Jiuri New Materials-A (688199 CH)

Hang Seng TECH Index (HSTECH INDEX EQUITY)

STAR Board - STAR50 Index Rebalance Preview: +Adds/-Deletes = +24%