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>With the review period complete, we forecast 9 changes for the <a href="https://www.smartkarma.com/entities/chinext-index" target="_blank" data-smartkarma-citation="entities:25483:1" rel="noopener">ChiNext Index (SZ399006 INDEX EQUITY)</a> and 5 changes for the ChiNext 50 Index in December.</li>
<li>Some of the potential adds will also have passive flows from the <a href="https://www.smartkarma.com/entities/csi-smallcap-500-index-shang" target="_blank" data-smartkarma-citation="entities:35347:1" rel="noopener">CSI Smallcap 500 Index</a> trackers at the same time as the <a href="https://www.smartkarma.com/entities/chinext-index" target="_blank" data-smartkarma-citation="entities:25483:1" rel="noopener">ChiNext Index</a> rebalance.</li>
<li>The potential adds have slipped a lot versus the potential deletes over the last few months as the National Team has tried to stabilise the market via ETF creations.</li>
</ul>


With the review period complete, we forecast 9 changes for the ChiNext Index (SZ399006 INDEX EQUITY) and 5 changes for the ChiNext 50 Index in December.
Some of the potential adds will also have passive flows from the CSI Smallcap 500 Index trackers at the same time as the ChiNext Index rebalance.
The potential adds have slipped a lot versus the potential deletes over the last few months as the National Team has tried to stabilise the market via ETF creations.


ChiNext/​​​ChiNext50 Index Rebalance Preview: Time for a Turnaround

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.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of CSI 300 in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Wuliangye, China Life, SHANGHAI PUDONG DEVELOPMENT BANK, BYD, PING AN INSURANCE, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS, CHINA EASTERN AIRLINES, GUANGZHOU AUTOMOBILE, Ping An Insurance.</li>
</ul>


We analysed the earning revision of component stocks of CSI 300 in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Wuliangye, China Life, SHANGHAI PUDONG DEVELOPMENT BANK, BYD, PING AN INSURANCE, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS, CHINA EASTERN AIRLINES, GUANGZHOU AUTOMOBILE, Ping An Insurance.


CSI 300 Index Earning Revision (Oct): Wuliangye, China Life, SPDB, BYD

<ul>
<li>We analysed the earning revision of component stocks of CSI 300 in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on CHINA VANKE, BANK OF NANJING, BANK OF HANGZHOU, 360 SECURITY TECHNOLOGY, JA SOLAR TECHNOLOGY, CHINA STATE CONSTRUCTION ENGINEERING, Xinjiang Daqo, CCB, Bank Of Nanjing, CCB.</li>
</ul>


We analysed the earning revision of component stocks of CSI 300 in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on CHINA VANKE, BANK OF NANJING, BANK OF HANGZHOU, 360 SECURITY TECHNOLOGY, JA SOLAR TECHNOLOGY, CHINA STATE CONSTRUCTION ENGINEERING, Xinjiang Daqo, CCB, Bank Of Nanjing, CCB.


CSI 300 Index Earning Revision (Aug): CHINA VANKE, BANK OF NANJING, BANK OF HANGZHOU

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Foxconn Industrial Internet / Technical Analysis

<ul>
<li>We remain near-term bullish SPX and ACWI since 4/22/25, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>We discussed in our July 31, 2025 Int'l Compass how $128, $125-$126, and $123-$123.50 were short-term supports to watch on ACWI-US, and ACWI-US found support at $128 the next day.</li>
<li>Europe (EURO STOXX 50) is the last of the major countries (from a global market cap perspective) to break out; we expect it to be next</li>
</ul>


We remain near-term bullish SPX and ACWI since 4/22/25, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
We discussed in our July 31, 2025 Int'l Compass how $128, $125-$126, and $123-$123.50 were short-term supports to watch on ACWI-US, and ACWI-US found support at $128 the next day.
Europe (EURO STOXX 50) is the last of the major countries (from a global market cap perspective) to break out; we expect it to be next


Europe Next to Break Out?; Bullish Outlook Intact; Remain Overweight Korea, Greece, and the U.S.

<ul>
<li>We analysed the earning revision of component stocks of CSI 300 in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Wuxi Apptec, Eoptolink Technology, Ping An Insurance, Muyuan Foods, China Vanke, Jinko Solar, Xinjiang Daqo.</li>
</ul>


We analysed the earning revision of component stocks of CSI 300 in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Wuxi Apptec, Eoptolink Technology, Ping An Insurance, Muyuan Foods, China Vanke, Jinko Solar, Xinjiang Daqo.


CSI 300 Index Earning Revision (Jul): Wuxi Apptec, Eoptolink Technology, Ping An Insurance

China

Eoptolink Technology Inc., Ltd.  designs and manufactures communication components.  The Company sells a variety of optical transceiver modules.  Eoptolink Technology sells products around the world.

Price Gauge
52-week Range	0.00 - 0.00
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Eoptolink Technology (300502 CH)

ChiNext/ChiNext50 Index Rebalance Preview: Time for a Turnaround

There could be 9 changes for the Chinext and 5 changes for the Chinext50 index in Dec. The adds have drifted lower vs the deletes and there could...

Brian Freitas

CSI 300 Index Earning Revision (Oct): Wuliangye, China Life, SPDB, BYD

We analyzed CSI 300's consensus for Oct 2025 and highlighted changes of EPS in Wuliangye (000858 CH), China Life (601628 CH), SHANGHAI PUDONG...

Ke Yan, CFA, FRM

CSI 300 Index Earning Revision (Aug): CHINA VANKE, BANK OF NANJING, BANK OF HANGZHOU

We analyzed CSI 300's consensus for Aug 2025 and highlighted changes of EPS in CHINA VANKE (000002 CH), BANK OF NANJING (601009 CH), BANK OF...

Ke Yan, CFA, FRM

Europe Next to Break Out?; Bullish Outlook Intact; Remain Overweight Korea, Greece, and the U.S.

Europe Next to Break Out?; China and Japan Remain Attractive and a big focus since our July 3rd report titled "China and Japan Breaking Out;"...

Vermilion Research

CSI 300 Index Earning Revision (Jul): Wuxi Apptec, Eoptolink Technology, Ping An Insurance

We analyzed CSI 300's consensus for Jul 2025 and highlighted changes of EPS in Wuxi Apptec, Eoptolink Technology, Ping An Insurance, Muyuan Foods,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ChiNext/​​​ChiNext50 Index Rebalance Preview: Time for a Turnaround

There could be 9 changes for the Chinext and 5 changes for the Chinext50 index in Dec. The adds have drifted lower vs the deletes and there could...

Brian Freitas

CSI 300 Index Earning Revision (Oct): Wuliangye, China Life, SPDB, BYD

We analyzed CSI 300's consensus for Oct 2025 and highlighted changes of EPS in Wuliangye (000858 CH), China Life (601628 CH), SHANGHAI PUDONG...

Ke Yan, CFA, FRM

CSI 300 Index Earning Revision (Aug): CHINA VANKE, BANK OF NANJING, BANK OF HANGZHOU

We analyzed CSI 300's consensus for Aug 2025 and highlighted changes of EPS in CHINA VANKE (000002 CH), BANK OF NANJING (601009 CH), BANK OF...

Ke Yan, CFA, FRM

Europe Next to Break Out?; Bullish Outlook Intact; Remain Overweight Korea, Greece, and the U.S.

Europe Next to Break Out?; China and Japan Remain Attractive and a big focus since our July 3rd report titled "China and Japan Breaking Out;"...

Vermilion Research

CSI 300 Index Earning Revision (Jul): Wuxi Apptec, Eoptolink Technology, Ping An Insurance

We analyzed CSI 300's consensus for Jul 2025 and highlighted changes of EPS in Wuxi Apptec, Eoptolink Technology, Ping An Insurance, Muyuan Foods,...

Ke Yan, CFA, FRM

ChiNext/ChiNext50 Index Rebalance Preview: Time for a Turnaround