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>Along with its fiscal 2024 results, <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba (9988 HK)</a> announced that they were preparing for their primary listing in Hong Kong and the conversion was expected to complete by August.</li>
<li>If the conversion is completed by the end of August, <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba (9988 HK)</a> could be added to Southbound Stock Connect in September and that could bring in significant flows.</li>
<li>We do not forecast any passive inflows due to the change with <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group Holding (9988 HK)</a> capped at 8% of the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">HSI</a>, <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">HSCEI</a> and <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">HSTECH</a> indices.</li>
</ul>


Along with its fiscal 2024 results, Alibaba (9988 HK) announced that they were preparing for their primary listing in Hong Kong and the conversion was expected to complete by August.
If the conversion is completed by the end of August, Alibaba (9988 HK) could be added to Southbound Stock Connect in September and that could bring in significant flows.
We do not forecast any passive inflows due to the change with Alibaba Group Holding (9988 HK) capped at 8% of the HSI, HSCEI and HSTECH indices.


Alibaba (9988 HK): Dual Primary Listing & Potential Southbound Flows

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Thematic (Sector/Industry)

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>The correction in momentum is done as index moves mask the price action underneath</li>
<li>Will the Bank of Japan finally hike rates again ?</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
The correction in momentum is done as index moves mask the price action underneath
Will the Bank of Japan finally hike rates again ?


Smartkarma's AI Co-Pilot, Smartkarma

αSK

Smartkarma's AI Co-Pilot

Smartkarma

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

Research Reinvented

Equity Bottom-Up

Hang Seng TECH Index (HSTECH INDEX EQUITY)

<ul>
  <li>The <a href="https://smartkarma.com/entities/hang-seng-tech-index">Hang Seng TECH Index</a> (HSTECH) represents the 30 largest technology companies listed in Hong Kong, offering concentrated exposure to China's leading innovators in sectors like e-commerce, AI, fintech, and electric vehicles.</li>
  <li>The index's performance is heavily influenced by the shifting regulatory landscape in China, which has moved from a period of intense crackdowns (2020-2022) towards a more supportive stance aimed at fostering technological self-sufficiency and innovation as a strategic priority.</li>
  <li>While facing significant headwinds from geopolitical tensions, particularly US-China tech rivalry, and domestic economic challenges like soft consumption, the index presents a high-risk, high-reward opportunity, with valuations appearing attractive relative to historical averages and global peers.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  The Hang Seng TECH Index (HSTECH) represents the 30 largest technology companies listed in Hong Kong, offering concentrated exposure to China's leading innovators in sectors like e-commerce, AI, fintech, and electric vehicles.
  The index's performance is heavily influenced by the shifting regulatory landscape in China, which has moved from a period of intense crackdowns (2020-2022) towards a more supportive stance aimed at fostering technological self-sufficiency and innovation as a strategic priority.
  While facing significant headwinds from geopolitical tensions, particularly US-China tech rivalry, and domestic economic challenges like soft consumption, the index presents a high-risk, high-reward opportunity, with valuations appearing attractive relative to historical averages and global peers.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Hang Seng TECH Index (HSTECH INDEX) - Apr 2026

Cross Asset Strategy

<ul>
<li>Government stabilisation measures kick in as tariff war starts to bite</li>
<li>Can the HK and China markets continue their bull run as markets dislocate?</li>
<li>Is it time to selectively get back into the Chinese tech sector?</li>
</ul>


Government stabilisation measures kick in as tariff war starts to bite
Can the HK and China markets continue their bull run as markets dislocate?
Is it time to selectively get back into the Chinese tech sector?


Hong Kong Market Strategy - Trade and Portfolio Ideas Amidst the Volatility

<ul>
<li>Are the recent announcements blocking Chinese investment a sea change in US/China relations?</li>
<li>Are we wrong about Trump’s willingness to do a deal with China?</li>
<li>Is it wrong to maintain a bullish stance on HK-listed China stocks?</li>
</ul>


Are the recent announcements blocking Chinese investment a sea change in US/China relations?
Are we wrong about Trump’s willingness to do a deal with China?
Is it wrong to maintain a bullish stance on HK-listed China stocks?


Will Recent US Announcements Derail the HK/China Bull Market?

Hong Kong

The Hang Seng TECH Index aims to represent the 30 largest technology companies listed in Hong Kong which have high business exposure to the Innovative Tech Themes.

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

Hang Seng TECH Index (HSTECH INDEX EQUITY)

Alibaba (9988 HK): Dual Primary Listing & Potential Southbound Flows

Alibaba expect to convert to a Primary Listing on the HKEX by end August. That could mean inclusion in Southbound Stock Connect in September. With...

Brian Freitas

Overview #61- Back to the Races

A review of recent events/data impacting our investment themes and outlook. We look at the momentum correction and expectations for what happens next

Rikki Malik

Primer: Hang Seng TECH Index (HSTECH INDEX) - Apr 2026

The Hang Seng TECH Index (HSTECH) represents the 30 largest technology companies listed in Hong Kong, offering concentrated exposure to China's...

αSK

Hong Kong Market Strategy - Trade and Portfolio Ideas Amidst the Volatility

$769 has lagged other rare earth plays but it is now up 100% in two days. We would look to sell half and keep the rest as a free ride. Hard...

Rikki Malik

Will Recent US Announcements Derail the HK/China Bull Market?

Reevaluating the bullish stance on HK-listed China stocks amid potential shifts in US/China relations and uncertainty about Trump's willingness to...

Rikki Malik

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Alibaba (9988 HK): Dual Primary Listing & Potential Southbound Flows

Alibaba expect to convert to a Primary Listing on the HKEX by end August. That could mean inclusion in Southbound Stock Connect in September. With...

Brian Freitas

Overview #61- Back to the Races

A review of recent events/data impacting our investment themes and outlook. We look at the momentum correction and expectations for what happens next

Rikki Malik

Primer: Hang Seng TECH Index (HSTECH INDEX) - Apr 2026

The Hang Seng TECH Index (HSTECH) represents the 30 largest technology companies listed in Hong Kong, offering concentrated exposure to China's...

αSK

Hong Kong Market Strategy - Trade and Portfolio Ideas Amidst the Volatility

$769 has lagged other rare earth plays but it is now up 100% in two days. We would look to sell half and keep the rest as a free ride. Hard...

Rikki Malik

Will Recent US Announcements Derail the HK/China Bull Market?

​Reevaluating the bullish stance on HK-listed China stocks amid potential shifts in US/China relations and uncertainty about Trump's willingness to...

Rikki Malik

Reevaluating the bullish stance on HK-listed China stocks amid potential shifts in US/China relations and uncertainty about Trump's willingness to...