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>With a day to go in the review period, there could be 2 changes for the <a href="https://www.smartkarma.com/entities/ishares-china-large-cap-etf" target="_blank" data-smartkarma-citation="entities:766:1" rel="noopener">iShares China Large-Cap (FXI) (FXI US)</a> in June.</li>
<li>There should be more than 1x ADV to buy on one of the adds while there will be nearly 5x ADV to sell on one of the deletes.</li>
<li>There will be positioning in all the potential changes but there appears to be higher interest in one of the potential adds and one of the potential deletes.</li>
</ul>


With a day to go in the review period, there could be 2 changes for the iShares China Large-Cap (FXI) (FXI US) in June.
There should be more than 1x ADV to buy on one of the adds while there will be nearly 5x ADV to sell on one of the deletes.
There will be positioning in all the potential changes but there appears to be higher interest in one of the potential adds and one of the potential deletes.


FXI Rebalance Preview: Cutoff Today; Two Changes Likely in June

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>SOUTHBOUND was again a net buyer for HK$18.6bn on strong two-way volumes. The top three net buys of the week were SOE banks. Some may be Central Huijin.</li>
<li>Some of this may be driven by the dividend w/h tax cancellation on H divs and by significant H-share discounts, but high-div CNOOC was the biggest net sell.</li>
<li>No end to the inflows, and HK valuations are not at a place where they would hamper continued flows. Alibaba making HK a Primary will spur more inflows over time.</li>
</ul>


SOUTHBOUND was again a net buyer for HK$18.6bn on strong two-way volumes. The top three net buys of the week were SOE banks. Some may be Central Huijin.
Some of this may be driven by the dividend w/h tax cancellation on H divs and by significant H-share discounts, but high-div CNOOC was the biggest net sell.
No end to the inflows, and HK valuations are not at a place where they would hamper continued flows. Alibaba making HK a Primary will spur more inflows over time.


HK Connect SOUTHBOUND Flows (To 24 May 2024); Strong Bank Buying and Tech Selling Continues

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of May 17th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period. </li>
<li>We highlight short changes in Baba, Longfor, Li Auto, Techtronic Ind.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of May 17th.
Top short increases and decreases were tabulated for one week and four week period. 
We highlight short changes in Baba, Longfor, Li Auto, Techtronic Ind.


HK Short Interest Weekly: Baba, Longfor, Li Auto, Techtronic Ind

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Alibaba Group’s March Quarter and Full Fiscal Year 2024 results show that major segments such as the Taobao and Tmall Group, Alibaba International Digital Commerce, and core public cloud offerings are experiencing growth.</li><li>The Taobao and Tmall Group achieved double-digit year-over year growth, while Alibaba International Digital Commerce revenue increased by 45%.</li><li>Moreover, AI related revenue increased triple digit year-over-year, demonstrating the potential of AI technology in fueling the company’s growth.</li></ul>

Alibaba Group’s March Quarter and Full Fiscal Year 2024 results show that major segments such as the Taobao and Tmall Group, Alibaba International Digital Commerce, and core public cloud offerings are experiencing growth.The Taobao and Tmall Group achieved double-digit year-over year growth, while Alibaba International Digital Commerce revenue increased by 45%.Moreover, AI related revenue increased triple digit year-over-year, demonstrating the potential of AI technology in fueling the company’s growth.

Alibaba Group: A Story Of Cross-Border E-commerce Scale-up! - Major Drivers

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>China saw 3.9 trillion yuan shift from cash to bonds and wealth products in April 2024.</li>
<li>
<a href="https://www.smartkarma.com/entities/adani-enterprises-ltd" target="_blank" data-smartkarma-citation="entities:245:1" rel="noopener">Adani Enterprises (ADE IN)</a> has fully recovered the $30 billion stock loss from the Hindenburg Report.</li>
<li>
<a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group Holding (BABA US)</a> raised $4.5 billion via convertible bonds for buybacks and AI investments.</li>
</ul>


China saw 3.9 trillion yuan shift from cash to bonds and wealth products in April 2024.

Adani Enterprises (ADE IN) has fully recovered the $30 billion stock loss from the Hindenburg Report.

Alibaba Group Holding (BABA US) raised $4.5 billion via convertible bonds for buybacks and AI investments.


#4Business Buzz: Chinese Bond, Recovery in Adani, Alibaba & AI, Jio's Deal of 36000Cr

China

Alibaba Group Holding Limited provides online sales services. The Company provides internet infrastructure, electronic commerce, online financial, and internet content services through its subsidiaries. Alibaba Group Holding offers its products and services worldwide.

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Alibaba (9988 HK)

FXI Rebalance Preview: Cutoff Today; Two Changes Likely in June

There are likely to be 2 changes for the FXI in June. Today is the price cutoff so there is a possibility of names moving around. One add and one...

Brian Freitas

HK Connect SOUTHBOUND Flows (To 24 May 2024); Strong Bank Buying and Tech Selling Continues

SOUTHBOUND flows continue to be strong. This week saw nearly HK$8bn bought on Banks and banks were top inflows. Some of this may be National Team...

Travis Lundy

HK Short Interest Weekly: Baba, Longfor, Li Auto, Techtronic Ind

We analyzed the latest HK SFC report for aggregate short position as of May 17th and highlight short interest changes in Baba, Longfor, Li Auto,...

Ke Yan, CFA, FRM

Alibaba Group: A Story Of Cross-Border E-commerce Scale-up! - Major Drivers

Alibaba Group’s March Quarter and Full Fiscal Year 2024 results show that major segments such as the Taobao and Tmall Group, Alibaba International...

Baptista Research

#4Business Buzz: Chinese Bond, Recovery in Adani, Alibaba & AI, Jio's Deal of 36000Cr

China shifts trillions from cash to bonds, Adani Enterprises recovers stock loss, Alibaba raises billions for buybacks and AI investments.

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

FXI Rebalance Preview: Cutoff Today; Two Changes Likely in June

There are likely to be 2 changes for the FXI in June. Today is the price cutoff so there is a possibility of names moving around. One add and one...

Brian Freitas

HK Connect SOUTHBOUND Flows (To 24 May 2024); Strong Bank Buying and Tech Selling Continues

SOUTHBOUND flows continue to be strong. This week saw nearly HK$8bn bought on Banks and banks were top inflows. Some of this may be National Team...

Travis Lundy

HK Short Interest Weekly: Baba, Longfor, Li Auto, Techtronic Ind

We analyzed the latest HK SFC report for aggregate short position as of May 17th and highlight short interest changes in Baba, Longfor, Li Auto,...

Ke Yan, CFA, FRM

Alibaba Group: A Story Of Cross-Border E-commerce Scale-up! - Major Drivers

Alibaba Group’s March Quarter and Full Fiscal Year 2024 results show that major segments such as the Taobao and Tmall Group, Alibaba International...

Baptista Research

#4Business Buzz: Chinese Bond, Recovery in Adani, Alibaba & AI, Jio's Deal of 36000Cr

​China shifts trillions from cash to bonds, Adani Enterprises recovers stock loss, Alibaba raises billions for buybacks and AI investments.

Nimish Maheshwari

China shifts trillions from cash to bonds, Adani Enterprises recovers stock loss, Alibaba raises billions for buybacks and AI investments.