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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>Constituent changes to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a> and capping changes will result in a round-trip trade of US$15.9bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.</li>
<li>The Select Sector index trackers and <a href="https://www.smartkarma.com/entities/invesco-s-p-500-equal-weight-e" target="_blank" data-smartkarma-citation="entities:32932:1" rel="noopener">S&amp;P 500 Equal Weight</a> trackers will need to buy <a href="https://www.smartkarma.com/entities/apollo-global-management-inc" target="_blank" data-smartkarma-citation="entities:28770:1" rel="noopener">Apollo Global Management</a> and <a href="https://www.smartkarma.com/entities/workday-inc-class-a" target="_blank" data-smartkarma-citation="entities:5660:1" rel="noopener">Workday</a>, adding to the buying from <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a> trackers.</li>
<li>The flows will change over the next week as stock prices move around and final capping is done after the close on 13 December.</li>
</ul>


Constituent changes to the S&amp;P 500 INDEX and capping changes will result in a round-trip trade of US$15.9bn across the Select Sector indices and the S&amp;P500 Equal Weight Index.
The Select Sector index trackers and S&amp;P 500 Equal Weight trackers will need to buy Apollo Global Management and Workday, adding to the buying from S&amp;P 500 INDEX trackers.
The flows will change over the next week as stock prices move around and final capping is done after the close on 13 December.


Select Sector Indices and S&P Equal Weight Rebalance: US$16bn Trade; More Buying for APO and WDAY

US-EU Index & Corporate Actions Analyst, ORTEX

Harry Kalfas

US-EU Index & Corporate Actions Analyst

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ares-management-corp" target="_blank" data-smartkarma-citation="entities:28771:1" rel="noopener">Ares Management (ARES US) </a>entered into a definitive agreement a $3.7 billion acquisition of GLP Capital Partners’ international operations.</li>
<li>The acquisition is structured with a mix of cash and stock, including performance incentives.</li>
<li>The deal, subject to regulatory approvals, will impact Ares’ presence in a global and a major US index, potentially creating significant passive demand.</li>
</ul>



Ares Management (ARES US) entered into a definitive agreement a $3.7 billion acquisition of GLP Capital Partners’ international operations.
The acquisition is structured with a mix of cash and stock, including performance incentives.
The deal, subject to regulatory approvals, will impact Ares’ presence in a global and a major US index, potentially creating significant passive demand.


Ares Management’s $3.7 Billion Acquisition: Shift for the U.S. And Global Index

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Equity Bottom-Up

<ul><li>Tesla has shortened its supplier payment cycle to about 90 days in 2024, continuing to outpace rivals in financial efficiency and supplier relations.</li><li>Tesla’s Shanghai factory, where 95% of parts are sourced locally, reflects the company’s deep integration with China’s supply chain.</li><li>The move highlights Tesla’s unique approach to balancing cost-cutting and supplier support in an industry under strain from intense competition, price wars and shifting dynamics between automakers and parts providers.</li></ul>

Tesla has shortened its supplier payment cycle to about 90 days in 2024, continuing to outpace rivals in financial efficiency and supplier relations.Tesla’s Shanghai factory, where 95% of parts are sourced locally, reflects the company’s deep integration with China’s supply chain.The move highlights Tesla’s unique approach to balancing cost-cutting and supplier support in an industry under strain from intense competition, price wars and shifting dynamics between automakers and parts providers.

Tesla Shortens Supplier Payment Terms to 90 Days Through Cost-Saving Innovations 

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>LI US/XPEV US/NIO US/1211 HK/TSLA US/ZK US:Electric vehicles delivered in the 48th week of 2024: LI and AITO stagnated, new new forces surged,while BYD and Tesla maintained moderate rise.(///////////)</li>
<li>MNSO US /601933 CH: A brief comment on the recent stock rally(///)</li>
<li>981HK/ACMR US/1347 HK: Impacts of US semiconductor export controls. (-/-/+)</li>
</ul>


LI US/XPEV US/NIO US/1211 HK/TSLA US/ZK US:Electric vehicles delivered in the 48th week of 2024: LI and AITO stagnated, new new forces surged,while BYD and Tesla maintained moderate rise.(///////////)
MNSO US /601933 CH: A brief comment on the recent stock rally(///)
981HK/ACMR US/1347 HK: Impacts of US semiconductor export controls. (-/-/+)


[Blue Lotus Daily]:LI US/XPEV US/NIO US/1211HK/TSLA US/ZK US/MNSO/601933CH/LKNCY/981HK/ACMR/1347HK

Cross Asset Strategy

<ul><li>Chips / Cover Story: Chinese chipmakers look to Malaysia to sidestep U.S. tariffs </li><li>Forestry /: Environmentalists sound alarm over China’s relaxed forest rules</li><li>PMI /: China manufacturing activity continues to build up steam, Caixin PMI shows</li></ul>

Chips / Cover Story: Chinese chipmakers look to Malaysia to sidestep U.S. tariffs Forestry /: Environmentalists sound alarm over China’s relaxed forest rulesPMI /: China manufacturing activity continues to build up steam, Caixin PMI shows

CX Daily: Chinese Chipmakers Look to Malaysia to Sidestep U.S. Tariffs 

United States

Tesla Inc. operates as a multinational automotive and clean energy company. The Company designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. Tesla owns its sales and service network and sells electric power train components to other automobile manufacturers.

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Tesla (TSLA US)

Select Sector Indices and S&P Equal Weight Rebalance: US$16bn Trade; More Buying for APO and WDAY

Constituent changes to the SPX and capping changes result in a round-trip trade of US$15.9bn. Apollo Global, Workday, Exxon and McDonald's are...

Brian Freitas

Ares Management’s $3.7 Billion Acquisition: Shift for the U.S. And Global Index

Ares Management's $3.7B acquisition of GLP Capital’s international ops enhances its footprint and index presence, driving potential passive demand.

Harry Kalfas

Tesla Shortens Supplier Payment Terms to 90 Days Through Cost-Saving Innovations

Tesla has shortened its supplier payment cycle to about 90 days in 2024, continuing to outpace rivals in financial efficiency and supplier...

Caixin Global

[Blue Lotus Daily]:LI US/XPEV US/NIO US/1211HK/TSLA US/ZK US/MNSO/601933CH/LKNCY/981HK/ACMR/1347HK

Electric vehicle deliveries in the 48th week of 2024 show stagnation for some, surge for others. Stock rally commentary and impacts of US...

Blue Lotus Research Institute

CX Daily: Chinese Chipmakers Look to Malaysia to Sidestep U.S. Tariffs

Chips / Cover Story: Chinese chipmakers look to Malaysia to sidestep U. S. tariffs As global supply chains are braced for disruption following...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Select Sector Indices and S&P Equal Weight Rebalance: US$16bn Trade; More Buying for APO and WDAY

Constituent changes to the SPX and capping changes result in a round-trip trade of US$15.9bn. Apollo Global, Workday, Exxon and McDonald's are...

Brian Freitas

Ares Management’s $3.7 Billion Acquisition: Shift for the U.S. And Global Index

Ares Management's $3.7B acquisition of GLP Capital’s international ops enhances its footprint and index presence, driving potential passive demand.

Harry Kalfas

Tesla Shortens Supplier Payment Terms to 90 Days Through Cost-Saving Innovations

Tesla has shortened its supplier payment cycle to about 90 days in 2024, continuing to outpace rivals in financial efficiency and supplier...

Caixin Global

[Blue Lotus Daily]:LI US/XPEV US/NIO US/1211HK/TSLA US/ZK US/MNSO/601933CH/LKNCY/981HK/ACMR/1347HK

​Electric vehicle deliveries in the 48th week of 2024 show stagnation for some, surge for others. Stock rally commentary and impacts of US...

Blue Lotus Research Institute

CX Daily: Chinese Chipmakers Look to Malaysia to Sidestep U.S. Tariffs

Chips / Cover Story: Chinese chipmakers look to Malaysia to sidestep U. S. tariffs As global supply chains are braced for disruption following...

Caixin Global

Electric vehicle deliveries in the 48th week of 2024 show stagnation for some, surge for others. Stock rally commentary and impacts of US...