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

Contemporary Amperex Technology (CATL) / Index Rebalance

<ul>
<li>There could be 3 constituent 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> ETF in December. That could easily increase to 4.</li>
<li>Two of the forecast inclusions will also have inflows from the FGlobal Index at the same time, increasing the impact. The third is a potential <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">HSCEI INDEX</a> add in December.</li>
<li>The HA premiums for <a href="https://www.smartkarma.com/entities/contemporary-amperex-technology-catl-co-limited" target="_blank" data-smartkarma-citation="entities:45179:1" rel="noopener">CATL (3750 HK)</a> and <a href="https://www.smartkarma.com/entities/jiangsu-hengrui-pharmaceuticals-co-ltd" target="_blank" data-smartkarma-citation="entities:44224:1" rel="noopener">Jiangsu Hengrui (1276 HK)</a> have dropped ahead of lock-up expiry and there could be premium expansion closer to index/ETF inclusion.</li>
</ul>


There could be 3 constituent changes for the iShares China Large-Cap (FXI) (FXI US) ETF in December. That could easily increase to 4.
Two of the forecast inclusions will also have inflows from the FGlobal Index at the same time, increasing the impact. The third is a potential HSCEI INDEX add in December.
The HA premiums for CATL (3750 HK) and Jiangsu Hengrui (1276 HK) have dropped ahead of lock-up expiry and there could be premium expansion closer to index/ETF inclusion.


FXI Rebalance Preview: New Listings, Potential Inclusions, H/A Premiums

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.

Equity Capital Markets

Contemporary Amperex Technology (CATL) / Equity Capital Markets

<ul>
<li>The SEHK recently issued an update in response to its consultation paper in December 2025, with new mechanisms proposed for the IPO in the future.</li>
<li>In this note, we summarize the conclusion by HKEx and the rules to be implemented.</li>
<li>We are of the view that overall, the changes will benefit ECM investors with greater certainty in allocations.</li>
</ul>


The SEHK recently issued an update in response to its consultation paper in December 2025, with new mechanisms proposed for the IPO in the future.
In this note, we summarize the conclusion by HKEx and the rules to be implemented.
We are of the view that overall, the changes will benefit ECM investors with greater certainty in allocations.


HKEx Consultation Paper (Conclusion) - What Matters for ECM Investors

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Equity Bottom-Up

Contemporary Amperex Technology (CATL) / Equity Bottom-Up

<ul><li>Chinese battery titan Contemporary Amperex Technology Co. Ltd. (CATL) has broken ground on a nearly $6 billion project in Indonesia, marking a bold strategic move to secure crucial materials and expand its manufacturing footprint beyond China.</li><li>The project — a joint venture between CATL subsidiary CBL, Indonesia’s state-owned miner PT Aneka Tambang (Antam), and the state-backed Indonesia Battery Corporation (IBC) — has officially started construction, CATL said Wednesday.</li><li>More than three years in the making, the initiative underscores the ambition of the world’s largest battery manufacturer to reinforce its global standing amid increasingly complex geopolitical dynamics.</li></ul>

Chinese battery titan Contemporary Amperex Technology Co. Ltd. (CATL) has broken ground on a nearly $6 billion project in Indonesia, marking a bold strategic move to secure crucial materials and expand its manufacturing footprint beyond China.The project — a joint venture between CATL subsidiary CBL, Indonesia’s state-owned miner PT Aneka Tambang (Antam), and the state-backed Indonesia Battery Corporation (IBC) — has officially started construction, CATL said Wednesday.More than three years in the making, the initiative underscores the ambition of the world’s largest battery manufacturer to reinforce its global standing amid increasingly complex geopolitical dynamics.

CATL Breaks Ground on $6 Billion Indonesian Battery Hub 

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

Contemporary Amperex Technology (CATL) / Equity Derivatives

<ul>
<li>CATL’s options debut in Hong Kong has been active, with strong Call interest and rising open interest suggesting early investor enthusiasm.</li>
<li>Implied vols are holding firm post-listing and appear rich —potentially justifiable given the trading dynamics and catalysts.</li>
<li>We recommend a tactical hedge structure that skews return favourably, targeting recent highs and protecting against downside drift.</li>
</ul>


CATL’s options debut in Hong Kong has been active, with strong Call interest and rising open interest suggesting early investor enthusiasm.
Implied vols are holding firm post-listing and appear rich —potentially justifiable given the trading dynamics and catalysts.
We recommend a tactical hedge structure that skews return favourably, targeting recent highs and protecting against downside drift.


CATL (3750.HK): Rich Vols, Strong Start, and a Tactical Hedge

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
<li>Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ insights published over the past two weeks on Smartkarma</li>
<li>In this cut, we look at Korea's compelling valuation versus AxJ equities, CATL’s blockbuster Hong Kong listing and its market implications, and explore copper's price surge amidst Chinese demand</li>
<li>Want to dig deeper? Comment or message with the themes you think should be highlighted next</li>
</ul>


Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,200+ insights published over the past two weeks on Smartkarma
In this cut, we look at Korea's compelling valuation versus AxJ equities, CATL’s blockbuster Hong Kong listing and its market implications, and explore copper's price surge amidst Chinese demand
Want to dig deeper? Comment or message with the themes you think should be highlighted next


Curator's Cut: Korea's Value, CATL's Charge & Copper's Surge

Hong Kong

Contemporary Amperex Technology Co., Limited. operates as a battery products manufacturing company. The Company produces and sells power battery materials, energy storage batteries energy storage battery cells, systems, and other products. Contemporary Amperex Technology also provides batteries recycling services.

Contemporary Amperex Technology (CATL) (3750 HK)

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Contemporary Amperex Technology (CATL) (3750 HK)

FXI Rebalance Preview: New Listings, Potential Inclusions, H/A Premiums

There could be 3/4 changes for the FXI in Dec. 2/3 adds will also have flows from global index trackers. H/A premiums have been shrinking ahead of...

Brian Freitas

HKEx Consultation Paper (Conclusion) - What Matters for ECM Investors

SEHK updates IPO rules with new rules proposed. We looked at the rules to be implemented and concluded that it will benefit ECM investors in general.

Ke Yan, CFA, FRM

CATL Breaks Ground on $6 Billion Indonesian Battery Hub

Chinese battery titan Contemporary Amperex Technology Co. Ltd. (CATL) has broken ground on a nearly $6 billion project in Indonesia, marking a...

Caixin Global

CATL (3750.HK): Rich Vols, Strong Start, and a Tactical Hedge

CATL's options debut in Hong Kong shows strong investor interest. A tactical hedge structure is recommended to target recent highs and protect...

John Ley

Curator's Cut: Korea's Value, CATL's Charge & Copper's Surge

This week's Curator's Cut highlights Korea's relative valuation, CATL's listing, and copper's surge. Share your thoughts on what themes should be...

Pranav Rao

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

FXI Rebalance Preview: New Listings, Potential Inclusions, H/A Premiums

There could be 3/4 changes for the FXI in Dec. 2/3 adds will also have flows from global index trackers. H/A premiums have been shrinking ahead of...

Brian Freitas

HKEx Consultation Paper (Conclusion) - What Matters for ECM Investors

​SEHK updates IPO rules with new rules proposed. We looked at the rules to be implemented and concluded that it will benefit ECM investors in general.

Ke Yan, CFA, FRM

CATL Breaks Ground on $6 Billion Indonesian Battery Hub

Chinese battery titan Contemporary Amperex Technology Co. Ltd. (CATL) has broken ground on a nearly $6 billion project in Indonesia, marking a...

Caixin Global

CATL (3750.HK): Rich Vols, Strong Start, and a Tactical Hedge

​CATL's options debut in Hong Kong shows strong investor interest. A tactical hedge structure is recommended to target recent highs and protect...

John Ley

Curator's Cut: Korea's Value, CATL's Charge & Copper's Surge

This week's ​Curator's Cut highlights Korea's relative valuation, CATL's listing, and copper's surge. Share your thoughts on what themes should be...

Pranav Rao

SEHK updates IPO rules with new rules proposed. We looked at the rules to be implemented and concluded that it will benefit ECM investors in general.

CATL's options debut in Hong Kong shows strong investor interest. A tactical hedge structure is recommended to target recent highs and protect...

This week's Curator's Cut highlights Korea's relative valuation, CATL's listing, and copper's surge. Share your thoughts on what themes should be...