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 7th (reported today) which has an aggregated short interest worth USD15.7bn.</li>
<li>We tabulate league table 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 Lynas Rare Earth, Northern Star Re, Iluka Resources, Worley, Csl, ANZ, Aurizon.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jul 7th (reported today) which has an aggregated short interest worth USD15.7bn.
We tabulate league table 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 Lynas Rare Earth, Northern Star Re, Iluka Resources, Worley, Csl, ANZ, Aurizon.


ASX Short Interest Weekly (Jul 7th): Lynas Rare Earth, Northern Star Re, Iluka Resources, Worley

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Jun 30th (reported today) which has an aggregated short interest worth USD16.1bn.</li>
<li>We tabulate league table 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 Rea, ANZ, Xero, Westpac, Natl Aust Bank, Liontown.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jun 30th (reported today) which has an aggregated short interest worth USD16.1bn.
We tabulate league table 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 Rea, ANZ, Xero, Westpac, Natl Aust Bank, Liontown.


ASX Short Interest Weekly (Jun 30th): Rea, ANZ, Xero, Westpac, NAB, Liontown

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Jun 23rd (reported today) which has an aggregated short interest worth USD15.8bn.</li>
<li>We tabulate league table 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 Mineral Resource, Macquarie, Aurizon, Endeavour, Flight Centre Tr, Rio Tinto.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jun 23rd (reported today) which has an aggregated short interest worth USD15.8bn.
We tabulate league table 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 Mineral Resource, Macquarie, Aurizon, Endeavour, Flight Centre Tr, Rio Tinto.


ASX Short Interest Weekly (Jun 23rd): Mineral Resource, Macquarie, Aurizon, Endeavour

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>The review period for the June rebalance of the S&amp;P/ASX family of indices ends tomorrow and we expect two changes for the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a>. </li>
<li>Impact of passive trading on the stocks varies between 4.3-11 days of ADV. Short interest on the potential adds is small while there are significant shorts on the potential deletes.</li>
<li>We expect there is pre-positioning on at least three of the four stocks. In some cases that is small, while it could be a lot larger in other stocks.</li>
</ul>


The review period for the June rebalance of the S&amp;P/ASX family of indices ends tomorrow and we expect two changes for the S&amp;P/ASX 200 (AS51 INDEX). 
Impact of passive trading on the stocks varies between 4.3-11 days of ADV. Short interest on the potential adds is small while there are significant shorts on the potential deletes.
We expect there is pre-positioning on at least three of the four stocks. In some cases that is small, while it could be a lot larger in other stocks.


S&P/​​​​​​​ASX Index Rebalance Preview: Potential Changes, Impact, Shorts & Positioning

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ventia-services-group" target="_blank" data-smartkarma-citation="entities:34917:1" rel="noopener">Ventia (VNT AU)</a> completed an A$300m placement overnight with Apollo and <a href="https://www.smartkarma.com/entities/cimic-group-ltd" target="_blank" data-smartkarma-citation="entities:20030:1" rel="noopener">CIMIC Group Ltd (CIM AU)</a> selling around 14% of the shares outstanding at a small discount to the close.</li>
<li>The placement will significantly increase <a href="https://www.smartkarma.com/entities/ventia-services-group" target="_blank" data-smartkarma-citation="entities:34917:1" rel="noopener">Ventia (VNT AU)</a>'s float and make the stock a high probability inclusion to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> at the June rebalance.</li>
<li>We now expect two changes to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> in June and the impact on the stocks is over 5.5 days of ADV to trade.</li>
</ul>



Ventia (VNT AU) completed an A$300m placement overnight with Apollo and CIMIC Group Ltd (CIM AU) selling around 14% of the shares outstanding at a small discount to the close.
The placement will significantly increase Ventia (VNT AU)'s float and make the stock a high probability inclusion to the S&amp;P/ASX 200 (AS51 INDEX) at the June rebalance.
We now expect two changes to the S&amp;P/ASX 200 (AS51 INDEX) in June and the impact on the stocks is over 5.5 days of ADV to trade.


Ventia (VNT AU) - Placement Could Lead to ASX200 Inclusion in June

Australia

Domain Holdings Australia Limited offers multi-platform property solutions. The Company operates an online portal that delivers property marketing solutions for residential, new development, and commercial properties. Domain Holdings Australia serves buyers, sellers, renters, and investors in Australia.

Price Gauge
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Domain Holdings Australia (DHG AU)

ASX Short Interest Weekly (Jul 7th): Lynas Rare Earth, Northern Star Re, Iluka Resources, Worley

We analyzed ASX short interest report for the past week and highlight short interest changes in Lynas Rare Earth, Northern Star Re, Iluka...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Jun 30th): Rea, ANZ, Xero, Westpac, NAB, Liontown

We analyzed ASX short interest report for the past week and highlight short interest changes in Rea, ANZ, Xero, Westpac, Natl Aust Bank, Liontown.

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Jun 23rd): Mineral Resource, Macquarie, Aurizon, Endeavour

We analyzed ASX short interest report for the past week and highlight short interest changes in Mineral Resource, Macquarie, Aurizon, Endeavour,...

Ke Yan, CFA, FRM

S&P/ASX Index Rebalance Preview: Potential Changes, Impact, Shorts & Positioning

There could be 2 changes for the ASX200 in June. Impact is high on most stocks. Shorts are small on the adds & very high on the deletes. There...

Brian Freitas

Ventia (VNT AU) - Placement Could Lead to ASX200 Inclusion in June

Apollo & CIMIC sold 14% of Ventia yesterday. That increases Ventia's float and should result in ASX200 inclusion in June. The placement was...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ASX Short Interest Weekly (Jul 7th): Lynas Rare Earth, Northern Star Re, Iluka Resources, Worley

We analyzed ASX short interest report for the past week and highlight short interest changes in Lynas Rare Earth, Northern Star Re, Iluka...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Jun 30th): Rea, ANZ, Xero, Westpac, NAB, Liontown

We analyzed ASX short interest report for the past week and highlight short interest changes in Rea, ANZ, Xero, Westpac, Natl Aust Bank, Liontown.

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Jun 23rd): Mineral Resource, Macquarie, Aurizon, Endeavour

We analyzed ASX short interest report for the past week and highlight short interest changes in Mineral Resource, Macquarie, Aurizon, Endeavour,...

Ke Yan, CFA, FRM

S&P/​​​​​​​ASX Index Rebalance Preview: Potential Changes, Impact, Shorts & Positioning

There could be 2 changes for the ASX200 in June. Impact is high on most stocks. Shorts are small on the adds & very high on the deletes. There...

Brian Freitas

Ventia (VNT AU) - Placement Could Lead to ASX200 Inclusion in June

Apollo & CIMIC sold 14% of Ventia yesterday. That increases Ventia's float and should result in ASX200 inclusion in June. The placement was...

Brian Freitas

S&P/ASX Index Rebalance Preview: Potential Changes, Impact, Shorts & Positioning