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>
<a href="https://www.smartkarma.com/entities/bizlink-holding-inc" target="_blank" data-smartkarma-citation="entities:6779:1" rel="noopener">Bizlink Holding (3665 TT)</a> should be deleted from the Yuanta/​P-Shares Taiwan Dividend Plus ETF in March and that will trigger selling of over 8 days of ADV.</li>
<li>There will be capping and funding flows due to the higher AUM and passive trackers will need to trade over 0.4x ADV in 5 stocks.</li>
<li>Shorts have covered positions in <a href="https://www.smartkarma.com/entities/bizlink-holding-inc" target="_blank" data-smartkarma-citation="entities:6779:1" rel="noopener">Bizlink Holding (3665 TT)</a> but there has been a recent uptick that could be linked to positioning for the rebalance.</li>
</ul>



Bizlink Holding (3665 TT) should be deleted from the Yuanta/​P-Shares Taiwan Dividend Plus ETF in March and that will trigger selling of over 8 days of ADV.
There will be capping and funding flows due to the higher AUM and passive trackers will need to trade over 0.4x ADV in 5 stocks.
Shorts have covered positions in Bizlink Holding (3665 TT) but there has been a recent uptick that could be linked to positioning for the rebalance.


Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: One Deletion & Capping Changes

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>In this insight, we take a look at Quiddity's flow expectations for the March 2024 index rebal event.</li>
<li>Today is the base date for the March 2024 index rebalance. Based on the closing prices today, I expect one DEL for the TDIV index in March 2024.</li>
<li>Separately, I also expect the AUM assumption to be revised in March 2024.</li>
</ul>


In this insight, we take a look at Quiddity's flow expectations for the March 2024 index rebal event.
Today is the base date for the March 2024 index rebalance. Based on the closing prices today, I expect one DEL for the TDIV index in March 2024.
Separately, I also expect the AUM assumption to be revised in March 2024.


Quiddity Leaderboard TDIV Mar 24: 8 Days to Sell in Bizlink

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the March 2024 index rebal event.</li>
<li>I expect one change for the T50 index and two other changes for the T100 index.</li>
<li>The two T100 expected DELs are special because one could be a surprise deletion due to liquidity test failure and the other one is TDIV member with significant flow implications.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the March 2024 index rebal event.
I expect one change for the T50 index and two other changes for the T100 index.
The two T100 expected DELs are special because one could be a surprise deletion due to liquidity test failure and the other one is TDIV member with significant flow implications.


Quiddity Leaderboard T50/​​​100 Mar 24: Bizlink TDIV DEL; Foxtron's Futile Rally; One More Surprise

<ul>
<li>In this insight, we take a look at Quiddity's flow expectations for the March 2024 index rebal event.</li>
<li>Based on current data, I expect there to be one DEL for the TDIV index in March. I also expect the AUM assumption to change.</li>
<li>According to my calculations, these changes could collectively trigger index flows of ~US$150mn one-way resulting in some index members expected to have multiple days of volume to trade.</li>
</ul>


In this insight, we take a look at Quiddity's flow expectations for the March 2024 index rebal event.
Based on current data, I expect there to be one DEL for the TDIV index in March. I also expect the AUM assumption to change.
According to my calculations, these changes could collectively trigger index flows of ~US$150mn one-way resulting in some index members expected to have multiple days of volume to trade.


Quiddity Leaderboard TDIV Mar 24: Potential DEL and AUM Assumption Change to Trigger Index Flows

Foxtron Vehicle Technologies / Index Rebalance

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the March 2024 index rebal event.</li>
<li>I expect one change for the T50 index and two other changes for the T100 index.</li>
<li>One of the T100 changes also has implications for the TDIV index flows in March 2024.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the March 2024 index rebal event.
I expect one change for the T50 index and two other changes for the T100 index.
One of the T100 changes also has implications for the TDIV index flows in March 2024.


Quiddity Leaderboard T50/​​​100 Mar 24: Bizlink TDIV Deletion in the Money!

Taiwan

Bizlink Holding Inc., manufactures connectors, cable assemblies, as well as wire harnesses. Their main products include HDMI connectors, display port connectors, solar cables, as well as halogen-free power cords.

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Bizlink Holding (3665 TT)

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: One Deletion & Capping Changes

We expect Bizlink will be deleted from the Yuanta/P-shares Taiwan Mid-Cap 100 ETF and the Yuanta/P-Shares Taiwan Dividend Plus ETF in March. That...

Brian Freitas

Quiddity Leaderboard TDIV Mar 24: 8 Days to Sell in Bizlink

There could be 8+ days of volume to sell in Bizlink if the expected T100 and TDIV deletions of the stock gets confirmed. I expect the stock to...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/100 Mar 24: Bizlink TDIV DEL; Foxtron's Futile Rally; One More Surprise

Bizlink is a TDIV index member. If a TDIV index member gets deleted from the T50+T100 index universe, that name will also get deleted from the TDIV...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard TDIV Mar 24: Potential DEL and AUM Assumption Change to Trigger Index Flows

Bizlink Holding (3665 TT), Farglory Land Development (5522 TT), TA Chen Stainless Pipe (2027 TT), and King's Town Bank (2809 TT) are estimated to...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/100 Mar 24: Bizlink TDIV Deletion in the Money!

Bizlink could get deleted from the T100 and TDIV indices and there could be significant index outflows for the stock. Farglory Land Development is...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: One Deletion & Capping Changes

We expect Bizlink will be deleted from the Yuanta/P-shares Taiwan Mid-Cap 100 ETF and the Yuanta/​P-Shares Taiwan Dividend Plus ETF in March. That...

Brian Freitas

Quiddity Leaderboard TDIV Mar 24: 8 Days to Sell in Bizlink

There could be 8+ days of volume to sell in Bizlink if the expected T100 and TDIV deletions of the stock gets confirmed. I expect the stock to...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/​​​100 Mar 24: Bizlink TDIV DEL; Foxtron's Futile Rally; One More Surprise

Bizlink is a TDIV index member. If a TDIV index member gets deleted from the T50+T100 index universe, that name will also get deleted from the TDIV...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard TDIV Mar 24: Potential DEL and AUM Assumption Change to Trigger Index Flows

Bizlink Holding (3665 TT), Farglory Land Development (5522 TT), TA Chen Stainless Pipe (2027 TT), and King's Town Bank (2809 TT) are estimated to...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/​​​100 Mar 24: Bizlink TDIV Deletion in the Money!

Bizlink could get deleted from the T100 and TDIV indices and there could be significant index outflows for the stock. Farglory Land Development is...

Janaghan Jeyakumar, CFA

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: One Deletion & Capping Changes

We expect Bizlink will be deleted from the Yuanta/P-shares Taiwan Mid-Cap 100 ETF and the Yuanta/P-Shares Taiwan Dividend Plus ETF in March. That...

Quiddity Leaderboard T50/100 Mar 24: Bizlink TDIV DEL; Foxtron's Futile Rally; One More Surprise

Quiddity Leaderboard T50/100 Mar 24: Bizlink TDIV Deletion in the Money!