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>An addition to the existing index themes will see 14 stocks added to the <a href="https://www.smartkarma.com/entities/kraneshares-csi-china-internet-etf" target="_blank" data-smartkarma-citation="entities:28208:1" rel="noopener">KraneShares CSI China Internet ETF (KWEB US)</a> next week.</li>
<li>The trade is over US$2bn round-trip and there is a big funding impact for some of the existing index constituents.</li>
<li>Following the methodology change, more money could flow into the <a href="https://www.smartkarma.com/entities/kraneshares-csi-china-internet-etf" target="_blank" data-smartkarma-citation="entities:28208:1" rel="noopener">KraneShares CSI China Internet ETF (KWEB US)</a> as the free float market cap increases significantly.</li>
</ul>


An addition to the existing index themes will see 14 stocks added to the KraneShares CSI China Internet ETF (KWEB US) next week.
The trade is over US$2bn round-trip and there is a big funding impact for some of the existing index constituents.
Following the methodology change, more money could flow into the KraneShares CSI China Internet ETF (KWEB US) as the free float market cap increases significantly.


KWEB Ad Hoc Index Rebalance: 14 Adds and Over US$2bn Trade

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

Shenton Research

Shenton 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.

<ul>
<li>We review the proposed HS TECH rule changes and screen an early beneficiary list for the December 2026 rebalance.</li>
<li>Our screening returns 20 ADD candidates, 10 based on market value and 10 based on revenue growth.</li>
<li>We expect all 30 current constituents are retained. 10 MV based stocks to be mechanical and sales growth for 10 growth based stocks to be cut off at 30%.</li>
</ul>


We review the proposed HS TECH rule changes and screen an early beneficiary list for the December 2026 rebalance.
Our screening returns 20 ADD candidates, 10 based on market value and 10 based on revenue growth.
We expect all 30 current constituents are retained. 10 MV based stocks to be mechanical and sales growth for 10 growth based stocks to be cut off at 30%.


HS TECH Index Consultation: Rules and Beneficiary Analysis

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The Hang Seng Internet &amp; IT (HSIII) index represents the top 30 stocks related to internet and information technology businesses listed in Hong Kong (HKEX).</li>
<li>In this insight, we take a look at potential index changes and capping flows for HSIII index rebal event in September 2026.</li>
<li>We see five ADDs and five DELs and we expect flows of ~US$87mn one-way including capping. </li>
</ul>


The Hang Seng Internet &amp; IT (HSIII) index represents the top 30 stocks related to internet and information technology businesses listed in Hong Kong (HKEX).
In this insight, we take a look at potential index changes and capping flows for HSIII index rebal event in September 2026.
We see five ADDs and five DELs and we expect flows of ~US$87mn one-way including capping. 


Quiddity Leaderboard HSIII Sep26: Five Changes Expected With Three Weeks to the Cut-Off

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 analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 15th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent, China Mobile, Meituan, PICC P&amp;C, Kuaishou, Petrochina, Zijin Mining, Hua Hong Semiconductor, Xiaomi, Ping An Insurance.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of May 15th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, China Mobile, Meituan, PICC P&amp;C, Kuaishou, Petrochina, Zijin Mining, Hua Hong Semiconductor, Xiaomi, Ping An Insurance.


HK Connect Flows Weekly (May 15th): Tencent, China Mobile, Meituan, PICC P&C, Kuaishou, Petrochina

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 30th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Alibaba, China Mobile, CNOOC, Tencent, Xiaomi, CCB, Cig Shanghai, Geely Automobile.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of April 30th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, China Mobile, CNOOC, Tencent, Xiaomi, CCB, Cig Shanghai, Geely Automobile.


HK Connect Flows Weekly (Apr 30th): Alibaba, China Mobile, CNOOC, Tencent, Xiaomi, CCB, Cig Shanghai

China

Deepexi Technology is an enterprise large-model artificial intelligence (AI) application solution provider. It offers AI-driven solutions, including its FastData Foil Data Fusion Platform and FastAGI enterprise AI solutions, to help businesses integrate data, optimize decision-making, and improve operational efficiency across sectors like consumer goods, manufacturing, healthcare, and transportation. The company was founded in 2018 and is headquartered in Beijing, China.

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Deepexi Technology (1384 HK)

KWEB Ad Hoc Index Rebalance: 14 Adds and Over US$2bn Trade

KWEB rebalances at the close today. On average, the adds were up 2.8% on the 20th, up 3.6% on the 21st, and down 6.3% on the 24th. The funding adds...

Brian Freitas

HS TECH Index Consultation: Rules and Beneficiary Analysis

HSIL announced HS TECH consultation on proposed rule changes. In this note, we analysis the proposed new rules changes and preview the potential...

Ke Yan, CFA, FRM

Quiddity Leaderboard HSIII Sep26: Five Changes Expected With Three Weeks to the Cut-Off

Manycore Tech (68 HK) has slipped two positions from 20th to 22nd rank. If there is further underperformance against other names before the...

Janaghan Jeyakumar, CFA

HK Connect Flows Weekly (May 15th): Tencent, China Mobile, Meituan, PICC P&C, Kuaishou, Petrochina

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent (700 HK), China Mobile (941 HK), Meituan (3690...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Apr 30th): Alibaba, China Mobile, CNOOC, Tencent, Xiaomi, CCB, Cig Shanghai

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, China Mobile, CNOOC, Tencent, Xiaomi, CCB, Cig...

Ke Yan, CFA, FRM

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