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 analyzed the changes in short interest of ASX Stocks as of Jul 3rd (reported today). The aggregated short interest was USD45.1bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in AGL Energy, National Australia Bank, Ampol, Transurban, James Hardie Industries.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jul 3rd (reported today). The aggregated short interest was USD45.1bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in AGL Energy, National Australia Bank, Ampol, Transurban, James Hardie Industries.


ASX Short Interest Weekly (Jul 3rd): AGL Energy, National Australia Bank, Ampol, Transurban

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/digital-garage-inc" target="_blank" data-smartkarma-citation="entities:13747:1" rel="noopener">Digital Garage (4819 JP)</a> is probably too cheap. There is a fair bit of "easy" value there even assuming all the equity affiliate stakes are worth, well, nothing.</li>
<li>
<a href="https://www.smartkarma.com/entities/china-resources-power-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:5385:1" rel="noopener">China Resources Power (836 HK)</a> (CRP)'s 81.81%-held <a href="https://www.smartkarma.com/entities/china-resources-new-energy-holdings-company-limited" target="_blank" data-smartkarma-citation="entities:50306:1" rel="noopener">China Resources New Energy (001248 CH)</a> xlosed up ~137% on debut, and worth ~350% of CRP's market cap. That's not sustainable.</li>
<li>
<a href="https://www.smartkarma.com/entities/atlas-arteria-ltd" target="_blank" data-smartkarma-citation="entities:14430:1" rel="noopener">Atlas Arteria (ALX AU)</a> sticks to its guns, urging shareholders to hold their stock, signalling IFM can pay more. But realistically, IFM has declared terms best &amp; final.</li>
</ul>



Digital Garage (4819 JP) is probably too cheap. There is a fair bit of "easy" value there even assuming all the equity affiliate stakes are worth, well, nothing.

China Resources Power (836 HK) (CRP)'s 81.81%-held China Resources New Energy (001248 CH) xlosed up ~137% on debut, and worth ~350% of CRP's market cap. That's not sustainable.

Atlas Arteria (ALX AU) sticks to its guns, urging shareholders to hold their stock, signalling IFM can pay more. But realistically, IFM has declared terms best &amp; final.


Last Week In Event SPACE: Digital Garage/Kakaku, Chine Resources Power, Atlas Arteria

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Jun 19th (reported today). The aggregated short interest was USD47.5bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Aristocrat Leisure, Brambles, CSL, Regis Resources, Cochlear.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jun 19th (reported today). The aggregated short interest was USD47.5bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Aristocrat Leisure, Brambles, CSL, Regis Resources, Cochlear.


ASX Short Interest Weekly (Jun 19th): Aristocrat Leisure, Brambles, CSL, Regis Resources, Cochlear

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Index Rebalance

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the September 2026 index rebal event.</li>
<li>We expect two changes for ASX 50, one change for ASX 100, and eight changes for ASX 200. Separately, we see 13 ADDs and 11 DELs for ASX 300.</li>
<li>There are still a couple of months left in the reference period which means our expectations may change.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the September 2026 index rebal event.
We expect two changes for ASX 50, one change for ASX 100, and eight changes for ASX 200. Separately, we see 13 ADDs and 11 DELs for ASX 300.
There are still a couple of months left in the reference period which means our expectations may change.


Quiddity Leaderboard ASX Sep26: Qube Deal Consequences + Many Other High-Impact Index Changes

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

Global equities remain in a short-term consolidation phase, however we continue to believe the longer-term trend is up and to the right for the MSCI ACWI following the late-October breakout.  In this report we recap important technical levels across all major indexes and highlight actionable opportunities within Global Health Care stocks, which are hitting on all cylinders, with plenty of opportunities across various industries (services, devices/equipment, pharmaceuticals, biotech, etc.) and geographies (Europe, Japan, China, EM, etc.).

Global equities remain in a short-term consolidation phase, however we continue to believe the longer-term trend is up and to the right for the MSCI ACWI following the late-October breakout.  In this report we recap important technical levels across all major indexes and highlight actionable opportunities within Global Health Care stocks, which are hitting on all cylinders, with plenty of opportunities across various industries (services, devices/equipment, pharmaceuticals, biotech, etc.) and geographies (Europe, Japan, China, EM, etc.).

Global Equity Strategy: Health Care Hitting On All Cylinders - Overweight

Australia

Cochlear Limited researches, develops and markets cochlear implant systems for hearing impaired individuals.  The Company's hearing implant systems include Nucleus and Baha and are sold both domestically and internationally.

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Cochlear Ltd (COH AT)

ASX Short Interest Weekly (Jul 3rd): AGL Energy, National Australia Bank, Ampol, Transurban

We analyzed ASX short interest report for the past week and highlight short interest changes in AGL Energy, National Australia Bank, Ampol,...

Ke Yan, CFA, FRM

Last Week In Event SPACE: Digital Garage/Kakaku, Chine Resources Power, Atlas Arteria

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

ASX Short Interest Weekly (Jun 19th): Aristocrat Leisure, Brambles, CSL, Regis Resources, Cochlear

We analyzed ASX short interest report for the past week and highlight short interest changes in Aristocrat Leisure, Brambles, CSL, Regis Resources,...

Ke Yan, CFA, FRM

Quiddity Leaderboard ASX Sep26: Qube Deal Consequences + Many Other High-Impact Index Changes

All ASX 200 expected ADDs/DELs have fairly high-impact with multiple days of volume to trade. Most names have 6x-23x ADV to trade.

Janaghan Jeyakumar, CFA

Global Equity Strategy: Health Care Hitting On All Cylinders - Overweight

Global equities remain in a short-term consolidation phase, however we continue to believe the longer-term trend is up and to the right for the...

Vermilion Research

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