Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Highwealth Construction / Index Rebalance

<ul>
<li>In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2024 index rebal event.</li>
<li>Today is the base date for the final ranks and we see five ADDs and four DELs.</li>
<li>We estimate one-way flow to be around US$1.68bn with multiple names having 5x ADV or more to trade.</li>
</ul>


In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2024 index rebal event.
Today is the base date for the final ranks and we see five ADDs and four DELs.
We estimate one-way flow to be around US$1.68bn with multiple names having 5x ADV or more to trade.


Quiddity Leaderboard TDIV Dec 24: Final Expectations; US$1.68bn One-Way; +17% Gain from Last Trade

<ul>
<li>In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2024 index rebal event.</li>
<li>I currently see 5 ADDs and 4 DELs but some of these names are different from what we had last time (<a href="https://www.smartkarma.com/insights/quiddity-leaderboard-tdiv-dec-24-5-adds-4-dels-likely-us-1-38bn-one-way" target="_blank" rel="noopener">link</a>).</li>
<li>The current estimate for one-way flow in December 2024 is US$1.54bn.</li>
</ul>


In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2024 index rebal event.
I currently see 5 ADDs and 4 DELs but some of these names are different from what we had last time (link).
The current estimate for one-way flow in December 2024 is US$1.54bn.


Quiddity Leaderboard TDIV Dec 24: Trade Successful; +9.5% in Three Weeks; More Upside Possible.

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

Event-Driven

<ul>
<li>Using data from the close on 15 November, there could be 6 adds and 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in December.</li>
<li>There will also be capping and funding flows that will lead to a one-way turnover of 16.9% and a one-way trade of TWD 57.5bn (US$1.77bn).</li>
<li>Short interest is at the highs in most forecast deletes, while the trend is mixed among the potential inclusions.</li>
</ul>


Using data from the close on 15 November, there could be 6 adds and 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in December.
There will also be capping and funding flows that will lead to a one-way turnover of 16.9% and a one-way trade of TWD 57.5bn (US$1.77bn).
Short interest is at the highs in most forecast deletes, while the trend is mixed among the potential inclusions.


Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn 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

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 TWSE Stocks as of Nov 1st which has an aggregated short interest worth USD21.0bn.</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 Taishin Financial, Elite Material, Nuvoton Technology, Wan Hai Lines, King Yuan Electronics.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Nov 1st which has an aggregated short interest worth USD21.0bn.
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 Taishin Financial, Elite Material, Nuvoton Technology, Wan Hai Lines, King Yuan Electronics.


TWSE Short Interest Weekly (Nov 1st): Taishin Financial, Elite Material, Nuvoton Technology

<ul>
<li>In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2024 index rebal event.</li>
<li>I currently see 5 ADDs and 4 DELs but there are several names close to the border and expectations could change before the base date as prices move around.</li>
<li>The current estimate for one-way flow in December 2024 is US$1.38bn.</li>
</ul>


In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2024 index rebal event.
I currently see 5 ADDs and 4 DELs but there are several names close to the border and expectations could change before the base date as prices move around.
The current estimate for one-way flow in December 2024 is US$1.38bn.


Quiddity Leaderboard TDIV Dec 24: 5 ADDs/4 DELs Likely; US$1.38bn One-Way

Taiwan

Elite Material Co., Ltd manufactures and markets prepared laminated cover claddings for double-sided and multi-layer printed circuit boards.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Elite Material (2383 TT)

Quiddity Leaderboard TDIV Dec 24: Final Expectations; US$1.68bn One-Way; +17% Gain from Last Trade

The LONG-SHORT trade suggested in our previous insight has delivered a return of 17% in less than two months. With index change expectations now...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard TDIV Dec 24: Trade Successful; +9.5% in Three Weeks; More Upside Possible.

The base date for the TDIV Dec24 rebal is 25th December 2024 (next Monday). The trade suggested in this insight has been performing very well and...

Janaghan Jeyakumar, CFA

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade

There could be 6 adds, 5 deletes, capping and funding changes, leading to a one-way turnover of 16.9% and a round-trip trade of US$3.55bn. There...

Brian Freitas

TWSE Short Interest Weekly (Nov 1st): Taishin Financial, Elite Material, Nuvoton Technology

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Taishin Financial, Elite Material, Nuvoton...

Ke Yan, CFA, FRM

Quiddity Leaderboard TDIV Dec 24: 5 ADDs/4 DELs Likely; US$1.38bn One-Way

The top 5 expected Inflow and Outflow names have more than 5x ADV to buy. However, the inflow names have been underperforming the outflow names for...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Quiddity Leaderboard TDIV Dec 24: Final Expectations; US$1.68bn One-Way; +17% Gain from Last Trade

The LONG-SHORT trade suggested in our previous insight has delivered a return of 17% in less than two months. With index change expectations now...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard TDIV Dec 24: Trade Successful; +9.5% in Three Weeks; More Upside Possible.

The base date for the TDIV Dec24 rebal is 25th December 2024 (next Monday). The trade suggested in this insight has been performing very well and...

Janaghan Jeyakumar, CFA

Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade

There could be 6 adds, 5 deletes, capping and funding changes, leading to a one-way turnover of 16.9% and a round-trip trade of US$3.55bn. There...

Brian Freitas

TWSE Short Interest Weekly (Nov 1st): Taishin Financial, Elite Material, Nuvoton Technology

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Taishin Financial, Elite Material, Nuvoton...

Ke Yan, CFA, FRM

Quiddity Leaderboard TDIV Dec 24: 5 ADDs/4 DELs Likely; US$1.38bn One-Way

The top 5 expected Inflow and Outflow names have more than 5x ADV to buy. However, the inflow names have been underperforming the outflow names for...

Janaghan Jeyakumar, CFA

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade