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>With the review period complete, we forecast 9 changes for the <a href="https://www.smartkarma.com/entities/chinext-index" target="_blank" data-smartkarma-citation="entities:25483:1" rel="noopener">ChiNext Index (SZ399006 INDEX EQUITY)</a> and 5 changes for the ChiNext 50 Index in December.</li>
<li>Some of the potential adds will also have passive flows from the <a href="https://www.smartkarma.com/entities/csi-smallcap-500-index-shang" target="_blank" data-smartkarma-citation="entities:35347:1" rel="noopener">CSI Smallcap 500 Index</a> trackers at the same time as the <a href="https://www.smartkarma.com/entities/chinext-index" target="_blank" data-smartkarma-citation="entities:25483:1" rel="noopener">ChiNext Index</a> rebalance.</li>
<li>The potential adds have slipped a lot versus the potential deletes over the last few months as the National Team has tried to stabilise the market via ETF creations.</li>
</ul>


With the review period complete, we forecast 9 changes for the ChiNext Index (SZ399006 INDEX EQUITY) and 5 changes for the ChiNext 50 Index in December.
Some of the potential adds will also have passive flows from the CSI Smallcap 500 Index trackers at the same time as the ChiNext Index rebalance.
The potential adds have slipped a lot versus the potential deletes over the last few months as the National Team has tried to stabilise the market via ETF creations.


ChiNext/​​​ChiNext50 Index Rebalance Preview: Time for a Turnaround

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Beijing Wantai Biological Phar / Index Rebalance

Beijing Wantai Biological Phar (603392 CH)

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.</li>
<li>We expect five ADDs/DELs for the CSI Medical Service index during the upcoming index rebal  event based on the latest available data.</li>
<li>Nearly 95% of the reference period is now complete. We currently estimate one-way flow to be US$301mn.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.
We expect five ADDs/DELs for the CSI Medical Service index during the upcoming index rebal  event based on the latest available data.
Nearly 95% of the reference period is now complete. We currently estimate one-way flow to be US$301mn.


Quiddity Leaderboard CSI Medical Dec26: Expectations Have Changed; US$301mn One-Way

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen, and Beijing Exchanges.</li>
<li>In this insight, we take a look at the potential ADDs and DELs for the semiannual index rebal event in December 2026.</li>
<li>We expect up to 5 ADDs/DELs and we estimate one-way flows of approximately US$271mn.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen, and Beijing Exchanges.
In this insight, we take a look at the potential ADDs and DELs for the semiannual index rebal event in December 2026.
We expect up to 5 ADDs/DELs and we estimate one-way flows of approximately US$271mn.


Quiddity Leaderboard CSI Medical Dec26: Expected ADDs Are Underperforming Expected DELs

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.</li>
<li>In this insight, we take a look at the potential ADDs/DELs for the semiannual index rebal event in December 2026.</li>
<li>We see 6 ADDs/DELs and expect one-way flows of approximately US$236mn.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.
In this insight, we take a look at the potential ADDs/DELs for the semiannual index rebal event in December 2026.
We see 6 ADDs/DELs and expect one-way flows of approximately US$236mn.


Quiddity Leaderboard CSI Medical Dec26: 6 ADDs/DELs Expected; US$236mn One-Way Flows

Event-Driven

Broadex Technologies Co Ltd / Event-Driven

<ul>
<li>With the review period complete, we forecast 10 changes for the <a href="https://www.smartkarma.com/entities/chinext-index" target="_blank" data-smartkarma-citation="entities:25483:1" rel="noopener">ChiNext Index (SZ399006 INDEX)</a> and 5 changes for the ChiNext 50 Index in December.</li>
<li>The largest flows will be in 2 stocks that are forecast adds for both indices. There are 14 stocks with over 0.5x ADV to trade from passive trackers.</li>
<li>The forecast adds outperformed the forecast deletes from June to August, but there has been significant underperformance since then. Outperformance could resume as positioning kicks in prior to announcement.</li>
</ul>


With the review period complete, we forecast 10 changes for the ChiNext Index (SZ399006 INDEX) and 5 changes for the ChiNext 50 Index in December.
The largest flows will be in 2 stocks that are forecast adds for both indices. There are 14 stocks with over 0.5x ADV to trade from passive trackers.
The forecast adds outperformed the forecast deletes from June to August, but there has been significant underperformance since then. Outperformance could resume as positioning kicks in prior to announcement.


ChiNext/​​​ChiNext50 Index Rebalance Preview: Maxing Out the Changes

China

Huaxia Eye Hospital Group Co.,Ltd. operates hospitals. The Company offers medical treatment services, nursing services, pharmacy dispensing services, clinical research services, and other related services. Huaxia Eye Hospital Group provides services in China.

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

Huaxia Eye Hospital Group (301267 CH)

ChiNext/ChiNext50 Index Rebalance Preview: Time for a Turnaround

There could be 9 changes for the Chinext and 5 changes for the Chinext50 index in Dec. The adds have drifted lower vs the deletes and there could...

Brian Freitas

Quiddity Leaderboard CSI Medical Dec26: Expectations Have Changed; US$301mn One-Way

There are three index members failing the liquidity test by narrow margins and they should be monitored until the end of the reference period.

Janaghan Jeyakumar, CFA

Quiddity Leaderboard CSI Medical Dec26: Expected ADDs Are Underperforming Expected DELs

The current expected ADDs have underperformed the current expected DELs in the last month. This is another example of the negative momentum in some...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard CSI Medical Dec26: 6 ADDs/DELs Expected; US$236mn One-Way Flows

Most expected ADDs/DELs have between 1x-4x ADV to trade and flow sizes of US$25mn-US$45mn. Beijing Wantai Bio (603392 CH) is the most significant...

Janaghan Jeyakumar, CFA

ChiNext/ChiNext50 Index Rebalance Preview: Maxing Out the Changes

There could be 10/5 changes for the Chinext/Chinext50 indices in Dec. Largest flows in the 2 stocks that are adds for both indices. Adds...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ChiNext/​​​ChiNext50 Index Rebalance Preview: Time for a Turnaround

There could be 9 changes for the Chinext and 5 changes for the Chinext50 index in Dec. The adds have drifted lower vs the deletes and there could...

Brian Freitas

Quiddity Leaderboard CSI Medical Dec26: Expectations Have Changed; US$301mn One-Way

There are three index members failing the liquidity test by narrow margins and they should be monitored until the end of the reference period.

Janaghan Jeyakumar, CFA

Quiddity Leaderboard CSI Medical Dec26: Expected ADDs Are Underperforming Expected DELs

The current expected ADDs have underperformed the current expected DELs in the last month. This is another example of the negative momentum in some...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard CSI Medical Dec26: 6 ADDs/DELs Expected; US$236mn One-Way Flows

Most expected ADDs/DELs have between 1x-4x ADV to trade and flow sizes of US$25mn-US$45mn. Beijing Wantai Bio (603392 CH) is the most significant...

Janaghan Jeyakumar, CFA

ChiNext/​​​ChiNext50 Index Rebalance Preview: Maxing Out the Changes

There could be 10/5 changes for the Chinext/Chinext50 indices in Dec. Largest flows in the 2 stocks that are adds for both indices. Adds...

Brian Freitas

ChiNext/ChiNext50 Index Rebalance Preview: Time for a Turnaround

ChiNext/ChiNext50 Index Rebalance Preview: Maxing Out the Changes