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

Index Rebalance

<ul>
<li>There could be 49 potential inclusions and 25 potential deletions for the Hang Seng Composite Index in March. There are more stocks that are close on market cap/liquidity.</li>
<li>A lot of the potential adds are very recently listed stocks that have a limited trading history. The low free float could lead to price spikes in the stocks.</li>
<li>There are stocks that have a very high percentage of holdings via Stock Connect and there could be some unwinding prior to the stocks becoming Sell-only.</li>
</ul>


There could be 49 potential inclusions and 25 potential deletions for the Hang Seng Composite Index in March. There are more stocks that are close on market cap/liquidity.
A lot of the potential adds are very recently listed stocks that have a limited trading history. The low free float could lead to price spikes in the stocks.
There are stocks that have a very high percentage of holdings via Stock Connect and there could be some unwinding prior to the stocks becoming Sell-only.


HSCI Index Rebalance Preview and Stock Connect (Mar 2026): Many Changes Following Huge IPO Quarter

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Equity Bottom-Up

<ul>
<li><a href="https://www.smartkarma.com/entities/netdragon-websoft-inc" target="_blank" data-smartkarma-citation="entities:3703:1" rel="noopener">Netdragon Websoft (777 HK)</a> stock has begun to rerate on the back of its deal with with Zhongke Wenge to integrate and launch AI applications outside of China.</li>
<li>NetDragon will integrate Wenge's LLM, YaYi, with its education products.  In August 2025, Cherrypicks and Wenge jointly launched AI applications, including social listening and multimodal content creation tools globally.</li>
<li>NetDragon has consistently enhanced shareholder returns through substantial dividends and since its earnings announcement in August has begun buying back shares in the market.</li>
</ul>


Netdragon Websoft (777 HK) stock has begun to rerate on the back of its deal with with Zhongke Wenge to integrate and launch AI applications outside of China.
NetDragon will integrate Wenge's LLM, YaYi, with its education products.  In August 2025, Cherrypicks and Wenge jointly launched AI applications, including social listening and multimodal content creation tools globally.
NetDragon has consistently enhanced shareholder returns through substantial dividends and since its earnings announcement in August has begun buying back shares in the market.


NETDRAGON (777 HK): Getting Schooled on AI !!!

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 8th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent, Kuaishou, Alibaba, Meituan, Li Auto, China Mobile.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 8th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Kuaishou, Alibaba, Meituan, Li Auto, China Mobile.


HK Connect Flows Weekly (Aug 8th): Tencent, Kuaishou, Alibaba, Meituan, Li Auto, China Mobile

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 18th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Meituan, CCB, Alibaba, Ping An Insurance, Akeso, Tencent, Xiaomi, Pop Mart Intl, ABC, Xpeng.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 18th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Meituan, CCB, Alibaba, Ping An Insurance, Akeso, Tencent, Xiaomi, Pop Mart Intl, ABC, Xpeng.


HK Connect Flows Weekly (Jul 18th): Meituan, CCB, Alibaba, Ping An Insurance, Akeso, Tencent, Xiaomi

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 11th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Meituan, CCB, SMIC, Li Auto, Zhongan Online, Alibaba, CMB, Pop Mart Intl, Tencent, China Mobile.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of July 11th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Meituan, CCB, SMIC, Li Auto, Zhongan Online, Alibaba, CMB, Pop Mart Intl, Tencent, China Mobile.


HK Connect Flows Weekly (Jul 11th): Meituan, CCB, SMIC, Li Auto, Zhongan Online, Alibaba, CMB

China

China Chunlai Education Group Co., Ltd. is a leading provider of private higher education services in the People's Republic of China. The company operates multiple universities and colleges, offering a range of programs including bachelor's degrees, junior college to bachelor's degrees, junior college diplomas, and vocational education. It was founded in 2004 and is headquartered in Shangqiu, People's Republic of China.

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China Chunlai Education (1969 HK)

HSCI Index Rebalance Preview and Stock Connect (Mar 2026): Many Changes Following Huge IPO Quarter

There could be 74 changes for the HSCI in March. That could result in 64 changes to the Southbound Stock Connect list and also have implications...

Brian Freitas

NETDRAGON (777 HK): Getting Schooled on AI !!!

Netdragon Websoft (777 HK) stock has begun to rerate on the back of its deal with with Zhongke Wenge to integrate and launch AI applications...

David Mudd

HK Connect Flows Weekly (Aug 8th): Tencent, Kuaishou, Alibaba, Meituan, Li Auto, China Mobile

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent, Kuaishou, Alibaba, Meituan, Li Auto, China Mobile.

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jul 18th): Meituan, CCB, Alibaba, Ping An Insurance, Akeso, Tencent, Xiaomi

We analyzed the Hong Kong Connect Scheme for last week and highlighted flows for Meituan, CCB, Alibaba, Ping An Insurance, Akeso, Tencent, Xiaomi,...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jul 11th): Meituan, CCB, SMIC, Li Auto, Zhongan Online, Alibaba, CMB

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Meituan, CCB, SMIC, Li Auto, Zhongan Online, Alibaba,...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)