Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

<ul>
<li>There could be 3 or 5 changes to the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">STAR50 INDEX</a> in June depending on the minimum listing history (6 months or 12 months) used by the index committee.</li>
<li>
<a href="https://www.smartkarma.com/entities/jinko-solar-co-ltd" target="_blank" data-smartkarma-citation="entities:35715:1" rel="noopener">Jinko Solar (688223 CH)</a> is a high probability inclusion while <a href="https://www.smartkarma.com/entities/shanghai-microport-endovascular-medtech-a" target="_blank" data-smartkarma-citation="entities:30310:1" rel="noopener">Shanghai Microport Endovascular MedTech (688016 CH)</a>, <a href="https://www.smartkarma.com/entities/arcsoft-corp-ltd" target="_blank" data-smartkarma-citation="entities:30335:1" rel="noopener">ArcSoft Corp Ltd (688088 CH)</a> and <a href="https://www.smartkarma.com/entities/dbapp-security-ltd" target="_blank" data-smartkarma-citation="entities:30316:1" rel="noopener">DBAPP Security Ltd (688023)</a> are high probability deletions.</li>
<li>The March rebalance will be implemented at the close tomorrow. The adds have outperformed the deletes post announcement and there could be a reversal from next week.</li>
</ul>


There could be 3 or 5 changes to the STAR50 INDEX in June depending on the minimum listing history (6 months or 12 months) used by the index committee.

Jinko Solar (688223 CH) is a high probability inclusion while Shanghai Microport Endovascular MedTech (688016 CH), ArcSoft Corp Ltd (688088 CH) and DBAPP Security Ltd (688023) are high probability deletions.
The March rebalance will be implemented at the close tomorrow. The adds have outperformed the deletes post announcement and there could be a reversal from next week.


STAR50 Index Rebalance Preview (June): Back to the All Important Question

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Equity Bottom-Up

<ul>
<li>Surge in revenue during 1Q24 may have implications for a return to strong profit growth</li>
<li>There is no evidence of structurally weaker core costs, like COGS and SGA and even R&amp;D</li>
<li>ROE is now above 20% and this after it large capital raising in FY22</li>
</ul>


Surge in revenue during 1Q24 may have implications for a return to strong profit growth
There is no evidence of structurally weaker core costs, like COGS and SGA and even R&amp;D
ROE is now above 20% and this after it large capital raising in FY22


Raydium Semiconductor - Acceleration of Revenue in 1Q24 Has Positive Implications

China

GalaxyCore Inc. develops, manufactures, and distributes emiconductor and integrated circuits. The Company produces complementary metal oxide semiconductor (CMOS) image sensor and display driver chips. GalaxyCore supplies its products in consumer electronics, mobile payment, automotive electronics, and other fields.

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GalaxyCore (688728 CH)

STAR50 Index Rebalance Preview (June): Back to the All Important Question

Depending on the minimum listing history used, there will be 3 or 5 changes. JinkoSolar is a high probability inclusion. The March rebalance will...

Brian Freitas

Raydium Semiconductor - Acceleration of Revenue in 1Q24 Has Positive Implications

Acceleration of revenue in 1Q24 is exceptional and this may mark the beginning of far better growth at the bottom line, lacking in the past 1-2 years.

Daniel Tabbush

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