Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

MetaX Integrated Circuits / Index Rebalance

<ul>
<li>STAR 50 and STAR 100 are tech-focused, blue-chip indices in Mainland China which track the largest and most liquid names in the STAR market of the Shanghai Stock Exchange.</li>
<li>In this insight, we have presented our expectations for ADDs and DELs for the upcoming June 2026 index rebal event.</li>
<li>We expect over US$2bn combined one-way flows for STAR 50 and STAR 100 during the June 2026 index rebal event.</li>
</ul>


STAR 50 and STAR 100 are tech-focused, blue-chip indices in Mainland China which track the largest and most liquid names in the STAR market of the Shanghai Stock Exchange.
In this insight, we have presented our expectations for ADDs and DELs for the upcoming June 2026 index rebal event.
We expect over US$2bn combined one-way flows for STAR 50 and STAR 100 during the June 2026 index rebal event.


Quiddity Leaderboard STAR 50/100 Jun26: Fate of Large IPO Fast-Track Additions Still a Question Mark

Moore Threads Technology / Index Rebalance

<ul>
<li>In this insight, we have presented our expectations for index changes and passive flows for STAR 50 and STAR 100 which are tech-focused indices in Mainland China.</li>
<li>Currently, we see four ADDs/DELs for the STAR 50 index for the June 2026 review but our expectations can change because there are some names lurking close to the border.</li>
<li>During the June 2026 index rebal event, STAR 50 and STAR 100 could see one-way flows of around US$1.5bn and US$415mn respectively. Some names have multiple days to trade.</li>
</ul>


In this insight, we have presented our expectations for index changes and passive flows for STAR 50 and STAR 100 which are tech-focused indices in Mainland China.
Currently, we see four ADDs/DELs for the STAR 50 index for the June 2026 review but our expectations can change because there are some names lurking close to the border.
During the June 2026 index rebal event, STAR 50 and STAR 100 could see one-way flows of around US$1.5bn and US$415mn respectively. Some names have multiple days to trade.


Quiddity Leaderboard STAR 50/100 Jun26: Discretionary Powers and Borderline Eligibility Issues

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

Nationz Technologies Inc A / Index Rebalance

<ul>
<li>The review period for the June rebalance of the CSI All Share Semiconductor Index ended 30 April. The changes should be announced on 30 May and implemented on 13 June.</li>
<li>We forecast 4 adds and 9 deletes for the index with a one-way turnover of 2.7% and a round-trip trade of CNY 1.2bn (US$167m).</li>
<li>Some stocks have overlaps with changes to the CES China Semiconductor Chips Index and the CNI Semiconductor Chips Index and there will be increased passive flow for those stocks.</li>
</ul>


The review period for the June rebalance of the CSI All Share Semiconductor Index ended 30 April. The changes should be announced on 30 May and implemented on 13 June.
We forecast 4 adds and 9 deletes for the index with a one-way turnover of 2.7% and a round-trip trade of CNY 1.2bn (US$167m).
Some stocks have overlaps with changes to the CES China Semiconductor Chips Index and the CNI Semiconductor Chips Index and there will be increased passive flow for those stocks.


CSI All Share Semiconductor Index Rebalance Preview: 13 Potential Changes in June

<ul>
<li>CSI All Share Semiconductors &amp; Semiconductor Equipment Index represents the largest and most-liquid stocks in the Semiconductor Industry Group from the Shanghai, Shenzhen, and Beijing Exchanges.</li>
<li>In this insight, we have presented our final expectations for ADDs and DELs for the upcoming semiannual index rebal event in June 2025.</li>
<li>We expect up to four ADDs and six DELs for the CSI All Share Semiconductors index during this index review based on the latest available data.</li>
</ul>


CSI All Share Semiconductors &amp; Semiconductor Equipment Index represents the largest and most-liquid stocks in the Semiconductor Industry Group from the Shanghai, Shenzhen, and Beijing Exchanges.
In this insight, we have presented our final expectations for ADDs and DELs for the upcoming semiannual index rebal event in June 2025.
We expect up to four ADDs and six DELs for the CSI All Share Semiconductors index during this index review based on the latest available data.


Quiddity Leaderboard CSI All Share Semiconductors Jun25: Final Expectations

<ul>
<li>The review period for the June rebalance of the CSI All Share Semiconductor Index ends 30 April. The changes should be announced on 30 May and implemented on 13 June.</li>
<li>We forecast 4/5 adds and 8 deletes for the index with a one-way turnover of 2.4% and a round-trip trade of CNY 990m (US$136m).</li>
<li>There are many forecast adds and deletes that will have same side flows from trackers of the CES China Semiconductor Chips Index and the CNI Semiconductor Chips Index.</li>
</ul>


The review period for the June rebalance of the CSI All Share Semiconductor Index ends 30 April. The changes should be announced on 30 May and implemented on 13 June.
We forecast 4/5 adds and 8 deletes for the index with a one-way turnover of 2.4% and a round-trip trade of CNY 990m (US$136m).
There are many forecast adds and deletes that will have same side flows from trackers of the CES China Semiconductor Chips Index and the CNI Semiconductor Chips Index.


CSI All Share Semiconductor Index Rebalance Preview: Multiple Index Flows for Some Stocks

China

Dosilicon Co., Ltd. operates as a small and medium-sized memory design company. The Company designs, develops, produces, and distributes NAND Flash, NOR Flash, DRAM, MCP, and provides related technical services. Dosilicon supplies its products in communication, security monitoring, wearable devices, and mobile terminals, and other fields.

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Dosilicon (688110 CH)

Quiddity Leaderboard STAR 50/100 Jun26: Fate of Large IPO Fast-Track Additions Still a Question Mark

Recent large IPOs Moore Threads (688795 CH) and MetaX (688802 CH) could get added on a fast-track basis unless the index provider overrules them...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard STAR 50/100 Jun26: Discretionary Powers and Borderline Eligibility Issues

There are two large cap ADDs that could be fast-tracked into the index but the index provider could use discretionary powers to overrule them....

Janaghan Jeyakumar, CFA

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52-week Range

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Quiddity Leaderboard STAR 50/100 Jun26: Fate of Large IPO Fast-Track Additions Still a Question Mark

Recent large IPOs Moore Threads (688795 CH) and MetaX (688802 CH) could get added on a fast-track basis unless the index provider overrules them...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard STAR 50/100 Jun26: Discretionary Powers and Borderline Eligibility Issues

There are two large cap ADDs that could be fast-tracked into the index but the index provider could use discretionary powers to overrule them....

Janaghan Jeyakumar, CFA

CSI All Share Semiconductor Index Rebalance Preview: 13 Potential Changes in June

There could be 4 adds/9 deletes in June. Estimated turnover is 2.7% and round-trip trade is CNY 1.2bn. There are multiple stocks with same-way flow...

Brian Freitas

Quiddity Leaderboard CSI All Share Semiconductors Jun25: Final Expectations

Most of the final expected ADDs/DELs were flagged by us in January 2025. These esoteric index flow considerations could be useful for China-focused...

Janaghan Jeyakumar, CFA

CSI All Share Semiconductor Index Rebalance Preview: Multiple Index Flows for Some Stocks

There could be 12-13 changes for the index in June. Some stocks will have same way flows from multiple index trackers and those stocks could...

Brian Freitas