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 4 constituent changes for the Yuanta/P-Shares Taiwan Top 50 ETF in December as positioning for buying by one set of index trackers pushes stocks into other indices.</li>
<li>There will be passive inflows in some of the forecast adds week after next and the flows from these index trackers will come a few weeks later.</li>
<li>With large AUMs tracking the dividend indices, stocks that have moved up a lot now have low dividend yields and there could be opposite flows from those index trackers.</li>
</ul>


There could be 4 constituent changes for the Yuanta/P-Shares Taiwan Top 50 ETF in December as positioning for buying by one set of index trackers pushes stocks into other indices.
There will be passive inflows in some of the forecast adds week after next and the flows from these index trackers will come a few weeks later.
With large AUMs tracking the dividend indices, stocks that have moved up a lot now have low dividend yields and there could be opposite flows from those index trackers.


Taiwan Top 50 ETF Rebalance Preview: Plenty of Big Overlapping Flows Coming Up

<ul>
<li>A massive rally in <a href="https://www.smartkarma.com/entities/chroma-ate-inc" target="_blank" data-smartkarma-citation="entities:7731:1" rel="noopener">Chroma Ate Inc (2360 TT)</a> should see the stock added to a global index in November and then to another country ETF in December.</li>
<li>With one exception, <a href="https://www.smartkarma.com/entities/chroma-ate-inc" target="_blank" data-smartkarma-citation="entities:7731:1" rel="noopener">Chroma Ate Inc (2360 TT)</a> has outperformed its peers over the last 6 months. With large buying to come, that could continue in the short-term.</li>
<li>There is positioning in <a href="https://www.smartkarma.com/entities/chroma-ate-inc" target="_blank" data-smartkarma-citation="entities:7731:1" rel="noopener">Chroma Ate Inc (2360 TT)</a> and its peers. With continued momentum in the stock, the path of least resistance is higher.</li>
</ul>


A massive rally in Chroma Ate Inc (2360 TT) should see the stock added to a global index in November and then to another country ETF in December.
With one exception, Chroma Ate Inc (2360 TT) has outperformed its peers over the last 6 months. With large buying to come, that could continue in the short-term.
There is positioning in Chroma Ate Inc (2360 TT) and its peers. With continued momentum in the stock, the path of least resistance is higher.


Chroma Ate (2360 TT): Double Index Inclusion Coming Up with Plenty to Buy

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Thematic (Sector/Industry)

<ul>
<li>Samsung's new Exynos 2600 chip aims to rival offerings from Apple and Qualcomm in the market.</li>
<li>Chroma has appointed I-Shih Tseng as CEO to enhance governance and operational efficiency.</li>
<li>Transcend expects memory supply constraints to persist for the next 3-5 months amid market instability.</li>
</ul>


Samsung's new Exynos 2600 chip aims to rival offerings from Apple and Qualcomm in the market.
Chroma has appointed I-Shih Tseng as CEO to enhance governance and operational efficiency.
Transcend expects memory supply constraints to persist for the next 3-5 months amid market instability.


Tech Supply Chain Tracker (05-Dec-2025): Samsung unveils Exynos 2600, rivals Apple and

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>In our prior Int'l Compass (Oct. 16) we discussed how the pullback was testing the uptrend, and we were buyers; this worked out well with indexes back at all-time highs.</li>
<li>Taiwan, China, Korea, and the U.S. remain our only overweights, but India is becoming more attractive as well -- add selective exposure. Many buy ideas highlighted in these countries.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
In our prior Int'l Compass (Oct. 16) we discussed how the pullback was testing the uptrend, and we were buyers; this worked out well with indexes back at all-time highs.
Taiwan, China, Korea, and the U.S. remain our only overweights, but India is becoming more attractive as well -- add selective exposure. Many buy ideas highlighted in these countries.


India Finally Showing Signs of Life; Remain Overweight Taiwan, China, Korea, and the U.S.

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>Our bullish near-term outlook will remain in place as long as the 5+ month uptrend continues on ACWI-US. So far, the latest pullback is testing the uptrend -- buy/stay long.</li>
<li>We are buying the test of 7-month base support in Europe (EURO STOXX 50). China's Shanghai Composite points to a second chance breakout attempt above 1.5-month resistance -- buy/stay long</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
Our bullish near-term outlook will remain in place as long as the 5+ month uptrend continues on ACWI-US. So far, the latest pullback is testing the uptrend -- buy/stay long.
We are buying the test of 7-month base support in Europe (EURO STOXX 50). China's Shanghai Composite points to a second chance breakout attempt above 1.5-month resistance -- buy/stay long


5+ Month Uptrend Support Holding on MSCI ACWI (ACWI-US); China Second Chance Breakout Likely

Taiwan

Chroma Ate Inc. manufactures and markets electronic and automation measuring instruments.  The Company's main products are test and measurement instruments, auto test equipment, power electronics, uninterrupted power supply (UPS), telecommunication power systems, industrial computers, and special materials.

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Chroma Ate Inc (2360 TT)

Taiwan Top 50 ETF Rebalance Preview: Plenty of Big Overlapping Flows Coming Up

We currently forecast 4 changes for the ETF in Dec. That could increase to 5. Multiple stocks will have same-way flow from other index trackers...

Brian Freitas

Chroma Ate (2360 TT): Double Index Inclusion Coming Up with Plenty to Buy

Chroma Ate should be added to a global index in Nov and a country ETF in Dec. There will be over US$850m to buy in the stock. Momentum is strong...

Brian Freitas

Tech Supply Chain Tracker (05-Dec-2025): Samsung unveils Exynos 2600, rivals Apple and

Samsung's new Exynos 2600 chip aims to rival offerings from Apple and Qualcomm in the market.Chroma has appointed I-Shih Tseng as CEO to enhance...

Tech Supply Chain Tracker

India Finally Showing Signs of Life; Remain Overweight Taiwan, China, Korea, and the U.S.

India's $SENSEX Finally Showing Signs of Life; Remain Overweight Taiwan, China, Korea, and the U.S.; Bullish Outlook Intact on $ACWI; Actionable...

Vermilion Research

5+ Month Uptrend Support Holding on MSCI ACWI (ACWI-US); China Second Chance Breakout Likely

5+ Month Uptrend Support Holding on MSCI $ACWI; Bullish Outlook Intact; China Second Chance Breakout Likely on Shanghai Composite. Buying the test...

Vermilion Research

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