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

Hong Kong Exchanges and Clearing / Index Rebalance

Hong Kong Exchanges and Clearing (388 HK)

<ul>
<li>The FRTIB benchmark switch from the EAFE Index to the ACWI IMI ex-USA ex-China ex-Hong Kong Index will result in a round trip trade of around US$56bn.</li>
<li>The changes for the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-inde" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">CSI 300</a>, <a href="https://www.smartkarma.com/entities/csi-smallcap-500-index-shang" target="_blank" data-smartkarma-citation="entities:35347:1" rel="noopener">CSI 500</a>, <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</a>, <a href="https://www.smartkarma.com/entities/shanghai-stock-exchange-sse-50-a-share-index" target="_blank" data-smartkarma-citation="entities:31073:1" rel="noopener">SSE50</a> and a bunch of other mainland China indices will be announced after market close on Friday.</li>
<li>Relatively quiet week for ETF flows with no major creations or redemptions during the week.</li>
</ul>


The FRTIB benchmark switch from the EAFE Index to the ACWI IMI ex-USA ex-China ex-Hong Kong Index will result in a round trip trade of around US$56bn.
The changes for the CSI 300, CSI 500, STAR50, SSE50 and a bunch of other mainland China indices will be announced after market close on Friday.
Relatively quiet week for ETF flows with no major creations or redemptions during the week.


Index Rebalance & ETF Flow Recap: FRTIB, Japan, CSI300, CSI500, STAR50, WuXi XDC, Asahi

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
 <li>As Japan's second-largest advertising holding company, Hakuhodo is well-positioned to capture growth from the ongoing shift to digital advertising, which now constitutes over 50% of the total market.</li>
 <li>The company is actively restructuring to become a data-driven 'creativity platform,' integrating its core agencies to provide full-funnel marketing solutions and enhance profitability.</li>
 <li>While facing intense domestic competition from Dentsu and pressure from global holding companies, Hakuhodo's deep-rooted client relationships and strategic focus on high-growth areas like CXM, e-commerce, and international expansion present a pathway to sustainable growth, though recent financial performance shows revenue growth but a significant drop in net income due to restructuring costs.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  As Japan's second-largest advertising holding company, Hakuhodo is well-positioned to capture growth from the ongoing shift to digital advertising, which now constitutes over 50% of the total market.
  The company is actively restructuring to become a data-driven 'creativity platform,' integrating its core agencies to provide full-funnel marketing solutions and enhance profitability.
  While facing intense domestic competition from Dentsu and pressure from global holding companies, Hakuhodo's deep-rooted client relationships and strategic focus on high-growth areas like CXM, e-commerce, and international expansion present a pathway to sustainable growth, though recent financial performance shows revenue growth but a significant drop in net income due to restructuring costs.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Hakuhodo Dy Holdings (2433 JP) - Apr 2026

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>
Dentsu Soken: Oasis files 5% ahead of a rumoured take-private; at ¥2,688 per share the deal looks fair and exit likely.</li>
<li>
Hakuhodo: Silchester takes a 5% stake in an undervalued ad group; the real prize is a ¥120bn securities portfolio ripe for return.</li>
<li>
Miura: Silchester backs a cash-generative industrial franchise, mispriced at 12x despite double-digit margins and a credible global expansion.</li>
</ul>



Dentsu Soken: Oasis files 5% ahead of a rumoured take-private; at ¥2,688 per share the deal looks fair and exit likely.

Hakuhodo: Silchester takes a 5% stake in an undervalued ad group; the real prize is a ¥120bn securities portfolio ripe for return.

Miura: Silchester backs a cash-generative industrial franchise, mispriced at 12x despite double-digit margins and a credible global expansion.


Japan Activism Briefs | Dentsu Soken, Hakuhodo, Miura

<ul>
<li>Global markets retained their positive momentum as weak U.S. economic data renewed concerns about the growth outlook.</li>
<li>Next week is set to be eventful, with the FOMC and Bank of Japan meetings on the agenda. The FOMC, expected to maintain policy rates, might offer few surprises.</li>
<li>Oil prices, after a five-day decline, rebounded as OPEC+ extended production cuts through 2025.</li>
</ul>


Global markets retained their positive momentum as weak U.S. economic data renewed concerns about the growth outlook.
Next week is set to be eventful, with the FOMC and Bank of Japan meetings on the agenda. The FOMC, expected to maintain policy rates, might offer few surprises.
Oil prices, after a five-day decline, rebounded as OPEC+ extended production cuts through 2025.


Japan Weekly | JMDC, Sanrio, Lasertec, Hakuhodo

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

<ul>
<li>The growth in retail media (brand advertising delivered in stores based on detailed customer data) continues to be one of the big trends in 2024.</li>
<li>Large retailers are keen to add this new revenue stream – and lots of brands want to advertise with them – and companies like Rakuten are offering this service directly.</li>
<li>For many retailers, they still need help from experts in advertising and data analysis to make it work, providing an opportunity for Hakuhodo among others.</li>
</ul>


The growth in retail media (brand advertising delivered in stores based on detailed customer data) continues to be one of the big trends in 2024.
Large retailers are keen to add this new revenue stream – and lots of brands want to advertise with them – and companies like Rakuten are offering this service directly.
For many retailers, they still need help from experts in advertising and data analysis to make it work, providing an opportunity for Hakuhodo among others.


Retail Media in Japan: More Revenue for Retailers, More Sales for Brands

Japan

HAKUHODO DY HOLDINGS INCORPORATED is a holding company established through the merger of Hakuhodo Inc., Daiko Advertising Inc., and Yomiko Advertising Inc. The Company, through its subsidiaries, provides comprehensive advertising services.

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

Hakuhodo Dy Holdings (2433 JP)

Index Rebalance & ETF Flow Recap: FRTIB, Japan, CSI300, CSI500, STAR50, WuXi XDC, Asahi

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

Primer: Hakuhodo Dy Holdings (2433 JP) - Apr 2026

As Japan's second-largest advertising holding company, Hakuhodo is well-positioned to capture growth from the ongoing shift to digital...

αSK Primers

Japan Activism Briefs | Dentsu Soken, Hakuhodo, Miura

Activists circle Japan's hidden value: a take-private play, a securities portfolio waiting to be unlocked, and a global industrial rollout the...

Mark Chadwick

Japan Weekly | JMDC, Sanrio, Lasertec, Hakuhodo

Global markets remain positive despite weak U.S. economic data, upcoming FOMC and Bank of Japan meetings, and rebounding oil prices due to...

Mark Chadwick

Retail Media in Japan: More Revenue for Retailers, More Sales for Brands

Retail media, a big trend in 2024, offers major revenue potential for retailers as well as intermediaries like Hakuhodo in advertising and data...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Index Rebalance & ETF Flow Recap: FRTIB, Japan, CSI300, CSI500, STAR50, WuXi XDC, Asahi

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

Primer: Hakuhodo Dy Holdings (2433 JP) - Apr 2026

As Japan's second-largest advertising holding company, Hakuhodo is well-positioned to capture growth from the ongoing shift to digital...

αSK Primers

Japan Activism Briefs | Dentsu Soken, Hakuhodo, Miura

Activists circle Japan's hidden value: a take-private play, a securities portfolio waiting to be unlocked, and a global industrial rollout the...

Mark Chadwick

Japan Weekly | JMDC, Sanrio, Lasertec, Hakuhodo

​Global markets remain positive despite weak U.S. economic data, upcoming FOMC and Bank of Japan meetings, and rebounding oil prices due to...

Mark Chadwick

Retail Media in Japan: More Revenue for Retailers, More Sales for Brands

​Retail media, a big trend in 2024, offers major revenue potential for retailers as well as intermediaries like Hakuhodo in advertising and data...

Michael Causton

Global markets remain positive despite weak U.S. economic data, upcoming FOMC and Bank of Japan meetings, and rebounding oil prices due to...

Retail media, a big trend in 2024, offers major revenue potential for retailers as well as intermediaries like Hakuhodo in advertising and data...