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>
<a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a> has sold over 5% of shares outstanding in <a href="https://www.smartkarma.com/entities/kioxia-holdings-corp" target="_blank" data-smartkarma-citation="entities:29243:1" rel="noopener">Kioxia Holdings (285A JP)</a> over the last month as the stock has run up.</li>
<li>The increased market cap and higher float should result in index inclusion and passive buying for <a href="https://www.smartkarma.com/entities/kioxia-holdings-corp" target="_blank" data-smartkarma-citation="entities:29243:1" rel="noopener">Kioxia Holdings (285A JP)</a> in November. Then an upweight in another index in December.</li>
<li>
<a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a>'s selling could also lead to <a href="https://www.smartkarma.com/entities/kioxia-holdings-corp" target="_blank" data-smartkarma-citation="entities:29243:1" rel="noopener">Kioxia Holdings (285A JP)</a> meeting JPX's tradable share ratio and removes an overhang for the stock.</li>
</ul>



Toshiba Corp (6502 JP) has sold over 5% of shares outstanding in Kioxia Holdings (285A JP) over the last month as the stock has run up.
The increased market cap and higher float should result in index inclusion and passive buying for Kioxia Holdings (285A JP) in November. Then an upweight in another index in December.

Toshiba Corp (6502 JP)'s selling could also lead to Kioxia Holdings (285A JP) meeting JPX's tradable share ratio and removes an overhang for the stock.


Kioxia (285A JP): Toshiba Selling Leads to Passive Buying & Removes Overhang

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

Lenskart Solutions / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lenskart-solutions" target="_blank" data-smartkarma-citation="entities:45634:1" rel="noopener">Lenskart Solutions</a> raised around US$825m in its India IPO, with a very strong anchor book.</li>
<li>Lenskart Solutions Limited (LSL) is a technology-driven eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.</li>
</ul>



Lenskart Solutions raised around US$825m in its India IPO, with a very strong anchor book.
Lenskart Solutions Limited (LSL) is a technology-driven eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products.
We have looked at the past performance in our previous note. In this note, we talk about the trading dynamics.


Lenskart Solutions IPO Trading - Very Strong Anchor Facing Weak Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lenskart-solutions" target="_blank" data-smartkarma-citation="entities:45634:1" rel="noopener">Lenskart Solutions</a> is looking to raise about US$825m in its upcoming India IPO.</li>
<li>Lenskart Solutions Limited (LSL) is a technology-driven eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products.</li>
<li>We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.</li>
</ul>



Lenskart Solutions is looking to raise about US$825m in its upcoming India IPO.
Lenskart Solutions Limited (LSL) is a technology-driven eyewear company with integrated operations spanning designing, manufacturing, branding and retailing of eyewear products.
We have looked at the past performance in our previous note. In this note, we talk about the RHP updates and valuations.


Lenskart Solutions IPO - Is Pricey but Has a Strong Market Position

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Great numbers from Advantest, Teradyne, Seagate and SK Hynix set to send AI related surging.</li>
<li>Jensen Huang spreads NVDA's net wider while dispelling concerns of a bubble.</li>
<li>Qorvo-Skyworks merger could tighten the competitive market for the likes of Murata.</li>
</ul>


Great numbers from Advantest, Teradyne, Seagate and SK Hynix set to send AI related surging.
Jensen Huang spreads NVDA's net wider while dispelling concerns of a bubble.
Qorvo-Skyworks merger could tighten the competitive market for the likes of Murata.


Japan Morning Connection: A Sea of Knockout Earnings Set to Send Tech and AI Surging

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Innovent Biologics announced strategic global collaboration with Takeda for total deal value of $11.4B. Akeso announced that phase 3 trial evaluating ivonescimab versus tislelizumab in sq-NSCLC met primary endpoint.</li>
<li>Celltrion received FDA approval for two additional pediatric indications for Humira biosimilar, Yuflyma. Classys plans to acquire 77.5% stake in JL Health, South American energy-based aesthetic medical device distribution group. </li>
<li>Syngene plans to add a bioconjugation suite at its commercial biologics facility. Cipla and Eli Lilly agreed to distribute and promote tirzepatide in India under a second brand name, Yurpeak.</li>
</ul>


Innovent Biologics announced strategic global collaboration with Takeda for total deal value of $11.4B. Akeso announced that phase 3 trial evaluating ivonescimab versus tislelizumab in sq-NSCLC met primary endpoint.
Celltrion received FDA approval for two additional pediatric indications for Humira biosimilar, Yuflyma. Classys plans to acquire 77.5% stake in JL Health, South American energy-based aesthetic medical device distribution group. 
Syngene plans to add a bioconjugation suite at its commercial biologics facility. Cipla and Eli Lilly agreed to distribute and promote tirzepatide in India under a second brand name, Yurpeak.


APAC Healthcare Weekly (October 26) – Innovent, Akeso, Celltrion, Classys, Daiichi, Syngene, Cipla

Japan

Hoya Corp manufactures electro-optics products such as mask blanks for semiconductors, photomasks for LCD panels, optical glasses, glass memory disks for HDDs, medical flexible endoscopes, eyeglasses, and contact lenses. The Company also provides information system architecture.

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Hoya Corp (7741 JP)

Kioxia (285A JP): Toshiba Selling Leads to Passive Buying & Removes Overhang

Kioxia was up 98.55% from when this insight was published to yesterday's close. Toshiba sold another 16.5m shares over the last month (and a total...

Brian Freitas

Lenskart Solutions IPO Trading - Very Strong Anchor Facing Weak Markets

Lenskart Solutions raised around US$825m in its India IPO, with a very strong anchor book. In this note, we talk about the trading dynamics.

Sumeet Singh

Lenskart Solutions IPO - Is Pricey but Has a Strong Market Position

Lenskart Solutions is looking to raise about US$825m in its upcoming India IPO. In this note, we talk about the RHP updates and valautions.

Sumeet Singh

Japan Morning Connection: A Sea of Knockout Earnings Set to Send Tech and AI Surging

Teradyne's 3Q numbers set a strong tone for the testing market. Skyworks and Qorvo merging may be a negative for Murata which will have to compete...

Andrew Jackson

APAC Healthcare Weekly (October 26) – Innovent, Akeso, Celltrion, Classys, Daiichi, Syngene, Cipla

Innovent Biologics announced collaboration with Takeda. FDA approves two additional indications for Celltrion's Humira biosimilar. Syngene is...

Tina Banerjee

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52-week Range

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P/E

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