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 December rebalance ended on 29 November. There could be one deletion, plus there will be capping changes.</li>
<li>
<a href="https://www.smartkarma.com/entities/waypoint-reit" target="_blank" data-smartkarma-citation="entities:22851:1" rel="noopener">Waypoint REIT (WPR AU)</a> is the lowest ranked current index constituent and is very close to the deletion threshold.</li>
<li>We estimate the one deletion and capping changes could result in one-way turnover of 3.6% resulting in a one-way trade of A$23m.</li>
</ul>


The review period for the December rebalance ended on 29 November. There could be one deletion, plus there will be capping changes.

Waypoint REIT (WPR AU) is the lowest ranked current index constituent and is very close to the deletion threshold.
We estimate the one deletion and capping changes could result in one-way turnover of 3.6% resulting in a one-way trade of A$23m.


MV Australia A-REITs Index Rebalance Preview: One Close Delete & Capping Changes

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 analyzed the changes in short interest of ASX Stocks as of Nov 15th (reported today) which has an aggregated short interest worth USD24.6bn.</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 ANZ, James Hardie Industries, Endeavour, Goodman.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Nov 15th (reported today) which has an aggregated short interest worth USD24.6bn.
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 ANZ, James Hardie Industries, Endeavour, Goodman.


ASX Short Interest Weekly (Nov 15th): ANZ, James Hardie Industries, Endeavour, Goodman

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Oct 25th (reported today) which has an aggregated short interest worth USD24.6bn.</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 Coles, Viva Energy, Nick Scali, Guzman Y Gomez, Mineral Resources, BHP, Goodman, Wisetech Global.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 25th (reported today) which has an aggregated short interest worth USD24.6bn.
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 Coles, Viva Energy, Nick Scali, Guzman Y Gomez, Mineral Resources, BHP, Goodman, Wisetech Global.


ASX Short Interest Weekly (Oct 25th): Coles, Viva Energy, Nick Scali, Guzman Y Gomez

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Oct 11th (reported today) which has an aggregated short interest worth USD27.0bn.</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 Insurance Australia, Computershare, Goodman, Sigma Pharmaceuticals.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 11th (reported today) which has an aggregated short interest worth USD27.0bn.
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 Insurance Australia, Computershare, Goodman, Sigma Pharmaceuticals.


ASX Short Interest Weekly (Oct 11th): Insurance Australia, Computershare, Goodman

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/esr-group-ltd" target="_blank" data-smartkarma-citation="entities:27983:1" rel="noopener">ESR Group (1821 HK)</a> provided a positive update on the indicative proposal. The update notes that the consortium has expanded from three to six, representing 39.91% of outstanding shares.</li>
<li>The addition of new consortium members is a positive. While the recent market rally is not a dealbreaker, it should give the consortium renewed impetus to launch an acceptable offer.   </li>
<li>The downside to a deal break is low as ESR’s valuation is undemanding, which is supported by the potential earnings recovery in a more benign interest rate environment.</li>
</ul>



ESR Group (1821 HK) provided a positive update on the indicative proposal. The update notes that the consortium has expanded from three to six, representing 39.91% of outstanding shares.
The addition of new consortium members is a positive. While the recent market rally is not a dealbreaker, it should give the consortium renewed impetus to launch an acceptable offer.   
The downside to a deal break is low as ESR’s valuation is undemanding, which is supported by the potential earnings recovery in a more benign interest rate environment.


ESR Group (1821 HK): Inching Closer to a Binding Proposal

Australia

Goodman Group is an integrated industrial property group. The Group has operations in Australia, New Zealand, UK, Asia and Europe. Goodman's activities include property investment, funds management, property development and property services. The Group's property portfolio includes business parks, industrial estates, office parks and warehouse/distribution centers.

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Goodman Group (GMG AU)

MV Australia A-REITs Index Rebalance Preview: One Close Delete & Capping Changes

Waypoint REIT is the lowest ranked constituent and close to the deletion threshold. There will be capping changes for 5 stocks. Estimated 1-way...

Brian Freitas

ASX Short Interest Weekly (Nov 15th): ANZ, James Hardie Industries, Endeavour, Goodman

We analyzed ASX short interest report for the past week and highlight short interest changes in ANZ, James Hardie Industries, Endeavour, Goodman.

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Oct 25th): Coles, Viva Energy, Nick Scali, Guzman Y Gomez

We analyzed ASX short interest report for the past week and highlight short interest changes in Coles, Viva Energy, Nick Scali, Guzman Y Gomez,...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Oct 11th): Insurance Australia, Computershare, Goodman

We analyzed ASX short interest report for the past week and highlight short interest changes in Insurance Australia, Computershare, Goodman, Sigma...

Ke Yan, CFA, FRM

ESR Group (1821 HK): Inching Closer to a Binding Proposal

The addition of new consortium members is a key positive. While the recent market rally is not a dealbreaker, it should give the consortium renewed...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)