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>There will be a bunch of rebalance announcements towards the start and at the end of the coming week. This includes 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>, <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">HSTECH</a>, HSCI, HSIII and global indices.</li>
<li>The review period for the March rebalance of the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200</a> and related indices ends on 16 February. The announcement of the changes will come couple of weeks later.</li>
<li>There were HUGE inflows to mainland China ETFs for yet another week as Central Huijin indicated that they would continue to buy/create ETFs units.</li>
</ul>


There will be a bunch of rebalance announcements towards the start and at the end of the coming week. This includes the HSI, HSCEI, HSTECH, HSCI, HSIII and global indices.
The review period for the March rebalance of the S&amp;P/ASX 200 and related indices ends on 16 February. The announcement of the changes will come couple of weeks later.
There were HUGE inflows to mainland China ETFs for yet another week as Central Huijin indicated that they would continue to buy/create ETFs units.


Index Rebalance & ETF Flow Recap: STAR100, NEXT50, LowVol30, KOSPI200, TW50, NWD, ITC, India Float

Hainan Jinpan Smart Technology / Index Rebalance

Hainan Jinpan Smart Technology (688676 CH)

<ul>
<li>The review period for the March rebalance ended 31 January. We expect the changes to be announced 23 February with the implementation taking place after the close on 8 March.</li>
<li>There are 10 stocks in inclusion zone and 11 in deletion zone. There should be 10 changes since that is the cap for the maximum changes at a single rebalance.</li>
<li>The potential adds and deletes are down between 37-47% over the last 6 months and a long/short trade could provide superior risk-adjusted returns.</li>
</ul>


The review period for the March rebalance ended 31 January. We expect the changes to be announced 23 February with the implementation taking place after the close on 8 March.
There are 10 stocks in inclusion zone and 11 in deletion zone. There should be 10 changes since that is the cap for the maximum changes at a single rebalance.
The potential adds and deletes are down between 37-47% over the last 6 months and a long/short trade could provide superior risk-adjusted returns.


STAR100 Index Rebalance Preview: High Risk/Return Trade Setup

<div><p>The <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">SSE STAR 50 (STAR50 INDEX)</a> is a free float market cap weighted and is made up of the 50 largest stocks based on full market cap that are listed on the STAR Market.</p></div><div>
<p>The review period for the December rebalance ends on 31 October, the results of the rebalance are likely to be announced on 26 November and the changes will be implemented at the close of trading on 10 December.</p>
<p>There are 191 stocks that will be listed longer than 12 months by 31 October and we expect the index committee to use a 12 month minimum listing history for the December review.</p>
<p>With 11 days remaining in the review period, potential inclusions are <a href="https://www.smartkarma.com/entities/xinjiang-daqo-new-energy-co-ltd" target="_blank" data-smartkarma-citation="entities:34163:1" rel="noopener">Xinjiang Daqo New Energy (688303 CH)</a>, <a href="https://www.smartkarma.com/entities/jiangsu-goodwe-power-supply-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:34165:1" rel="noopener">Jiangsu GoodWe Power Supply Technology (688390 CH)</a>, <a href="https://www.smartkarma.com/entities/infovision-optoelectronics-kunshan-co-ltd" target="_blank" data-smartkarma-citation="entities:34164:1" rel="noopener">InfoVision Optoelectronics Kunshan (688055 CH)</a>, <a href="https://www.smartkarma.com/entities/eyebright-medical-technology-beijing-co-ltd" target="_blank" data-smartkarma-citation="entities:33455:1" rel="noopener">Eyebright Medical Technology Beijing (688050 CH)</a> and <a href="https://www.smartkarma.com/entities/beijing-huafeng-test-control-technology-a" target="_blank" data-smartkarma-citation="entities:30367:1" rel="noopener">Beijing Huafeng Test &amp; Control Technology-A (688200 CH)</a>. <a href="https://www.smartkarma.com/entities/shanghai-medicilon-inc" target="_blank" data-smartkarma-citation="entities:30368:1" rel="noopener">Shanghai Medicilon Inc (688202 CH)</a> is a very close add currently.</p>
<p>The potential deletions are <a href="https://www.smartkarma.com/entities/willfar-information-technology-a" target="_blank" data-smartkarma-citation="entities:30341:1" rel="noopener">Willfar Information Technology-A (688100 CH)</a>, <a href="https://www.smartkarma.com/entities/appotronics-corp-ltd" target="_blank" data-smartkarma-citation="entities:28235:1" rel="noopener">Appotronics Corp Ltd (688007 CH)</a>, <a href="https://www.smartkarma.com/entities/espressif-systems-shanghai-co-ltd" target="_blank" data-smartkarma-citation="entities:30311:1" rel="noopener">Espressif Systems Shanghai (688018 CH)</a>, <a href="https://www.smartkarma.com/entities/xiamen-amoytop-biotech-co-ltd" target="_blank" data-smartkarma-citation="entities:30377:1" rel="noopener">Xiamen Amoytop Biotech Co Ltd (688278 CH)</a> and <a href="https://www.smartkarma.com/entities/anji-microelectronics-tech-a" target="_blank" data-smartkarma-citation="entities:30312:1" rel="noopener">Anji Microelectronics Tech-A (688019 CH)</a>.</p>
<p>In the unlikely event that the index committee decides to continue using a 6 month minimum listing history, the potential inclusions are <a href="https://www.smartkarma.com/entities/xinjiang-daqo-new-energy-co-ltd" target="_blank" data-smartkarma-citation="entities:34163:1" rel="noopener">Xinjiang Daqo New Energy (688303 CH)</a>, <a href="https://www.smartkarma.com/entities/zwsoft-guangzhou-co-ltd" target="_blank" data-smartkarma-citation="entities:34166:1" rel="noopener">ZWSOFT Guangzhou (688083 CH)</a>, <a href="https://www.smartkarma.com/entities/chengdu-xgimi-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:34167:1" rel="noopener">Chengdu XGimi Technology (688696 CH)</a>, <a href="https://www.smartkarma.com/entities/opt-machine-vision-tech-co-a" target="_blank" data-smartkarma-citation="entities:33148:1" rel="noopener">OPT Machine Vision Tech Co-A (688686 CH)</a> and <a href="https://www.smartkarma.com/entities/jiangsu-goodwe-power-supply-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:34165:1" rel="noopener">Jiangsu GoodWe Power Supply Technology (688390 CH)</a>, while <a href="https://www.smartkarma.com/entities/infovision-optoelectronics-kunshan-co-ltd" target="_blank" data-smartkarma-citation="entities:34164:1" rel="noopener">InfoVision Optoelectronics Kunshan (688055 CH)</a> is a close add. There is no change to the list of potential deletions from the index.</p>
<p>One-way turnover at the December rebalance is estimated at 11.04% assuming that CSI &amp; SSE use a 12 month minimum listing history.</p>
</div>

The SSE STAR 50 (STAR50 INDEX) is a free float market cap weighted and is made up of the 50 largest stocks based on full market cap that are listed on the STAR Market.
The review period for the December rebalance ends on 31 October, the results of the rebalance are likely to be announced on 26 November and the changes will be implemented at the close of trading on 10 December.
There are 191 stocks that will be listed longer than 12 months by 31 October and we expect the index committee to use a 12 month minimum listing history for the December review.
With 11 days remaining in the review period, potential inclusions are Xinjiang Daqo New Energy (688303 CH), Jiangsu GoodWe Power Supply Technology (688390 CH), InfoVision Optoelectronics Kunshan (688055 CH), Eyebright Medical Technology Beijing (688050 CH) and Beijing Huafeng Test &amp; Control Technology-A (688200 CH). Shanghai Medicilon Inc (688202 CH) is a very close add currently.
The potential deletions are Willfar Information Technology-A (688100 CH), Appotronics Corp Ltd (688007 CH), Espressif Systems Shanghai (688018 CH), Xiamen Amoytop Biotech Co Ltd (688278 CH) and Anji Microelectronics Tech-A (688019 CH).
In the unlikely event that the index committee decides to continue using a 6 month minimum listing history, the potential inclusions are Xinjiang Daqo New Energy (688303 CH), ZWSOFT Guangzhou (688083 CH), Chengdu XGimi Technology (688696 CH), OPT Machine Vision Tech Co-A (688686 CH) and Jiangsu GoodWe Power Supply Technology (688390 CH), while InfoVision Optoelectronics Kunshan (688055 CH) is a close add. There is no change to the list of potential deletions from the index.
One-way turnover at the December rebalance is estimated at 11.04% assuming that CSI &amp; SSE use a 12 month minimum listing history.


STAR50 Index Rebalance Dec 21 Preview: Big Turnover & Moderate Impact

Xinjiang Daqo New Energy  Lt / Index Rebalance

<div>
<p>The <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">SSE STAR 50 (STAR50 INDEX)</a> is a free float market cap weighted and is made up of the 50 largest stocks based on full market cap that are listed on the STAR Market.</p>
</div>
<div>
<p>The review period for the December rebalance ends on 31 October, the results of the rebalance are likely to be announced on 26 November and the changes will be implemented at the close of trading on 10 December.</p>
<p><em><strong>With 191 stocks listed for longer than 12 months by the review cut-off date, the minimum listing history should reset higher from 6 months to 12 months.</strong></em></p>
<p>Potential inclusions are <a href="https://www.smartkarma.com/entities/xinjiang-daqo-new-energy-co-ltd" target="_blank" data-smartkarma-citation="entities:34163:1" rel="noopener">Xinjiang Daqo New Energy (688303 CH)</a>, <a href="https://www.smartkarma.com/entities/infovision-optoelectronics-kunshan-co-ltd" target="_blank" data-smartkarma-citation="entities:34164:1" rel="noopener">InfoVision Optoelectronics Kunshan (688055 CH)</a>, <a href="https://www.smartkarma.com/entities/jiangsu-goodwe-power-suppl-a" target="_blank" data-smartkarma-citation="entities:34165:1" rel="noopener">Jiangsu Goodwe Power Suppl-A (688390 CH)</a>, <a href="https://www.smartkarma.com/entities/beijing-huafeng-test-control-technology-a" target="_blank" data-smartkarma-citation="entities:30367:1" rel="noopener">Beijing Huafeng Test &amp; Control Technology-A (688200 CH)</a> and <a href="https://www.smartkarma.com/entities/eyebright-medical-technology-beijing-co-ltd" target="_blank" data-smartkarma-citation="entities:33455:1" rel="noopener">Eyebright Medical Technology Beijing (688050 CH)</a>. <a href="https://www.smartkarma.com/entities/shanghai-medicilon-inc" target="_blank" data-smartkarma-citation="entities:30368:1" rel="noopener">Shanghai Medicilon Inc (688202 CH)</a> is a close add at the moment.</p>
<p>Potential deletions are <a href="https://www.smartkarma.com/entities/willfar-information-techno-a" target="_blank" data-smartkarma-citation="entities:30341:1" rel="noopener">Willfar Information Techno-A (688100 CH)</a>, <a href="https://www.smartkarma.com/entities/appotronics-corp-ltd" target="_blank" data-smartkarma-citation="entities:28235:1" rel="noopener">Appotronics Corp Ltd (688007 CH)</a>, <a href="https://www.smartkarma.com/entities/xiamen-amoytop-biotech-co-ltd" target="_blank" data-smartkarma-citation="entities:30377:1" rel="noopener">Xiamen Amoytop Biotech Co Ltd (688278 CH)</a>, <a href="https://www.smartkarma.com/entities/espressif-systems-shanghai-co-ltd" target="_blank" data-smartkarma-citation="entities:30311:1" rel="noopener">Espressif Systems Shanghai (688018 CH)</a> and <a href="https://www.smartkarma.com/entities/anji-microelectronics-tech-a" target="_blank" data-smartkarma-citation="entities:30312:1" rel="noopener">Anji Microelectronics Tech-A (688019 CH)</a>.</p>
<p>If, for some reason, the index committee decides to continue to use a 6 month minimum listing history, potential inclusions are <a href="https://www.smartkarma.com/entities/xinjiang-daqo-new-energy-co-ltd" target="_blank" data-smartkarma-citation="entities:34163:1" rel="noopener">Xinjiang Daqo New Energy (688303 CH)</a>, <a href="https://www.smartkarma.com/entities/zwsoft-co-ltd-guangzhou" target="_blank" data-smartkarma-citation="entities:34166:1" rel="noopener">ZWSOFT Co Ltd Guangzhou (688083 CH)</a>, <a href="https://www.smartkarma.com/entities/chengdu-xgimi-technology-c-a" target="_blank" data-smartkarma-citation="entities:34167:1" rel="noopener">Chengdu Xgimi Technology C-A (688696 CH)</a>, <a href="https://www.smartkarma.com/entities/opt-machine-vision-tech-co-a" target="_blank" data-smartkarma-citation="entities:33148:1" rel="noopener">Opt Machine Vision Tech Co-A (688686 CH)</a> and <a href="https://www.smartkarma.com/entities/infovision-optoelectronics-kunshan-co-ltd" target="_blank" data-smartkarma-citation="entities:34164:1" rel="noopener">InfoVision Optoelectronics Kunshan (688055 CH)</a> while there is no change to the list of potential deletions.</p>
<p>One-way turnover at the December rebalance is estimated at 10.17% assuming that CSI/SSE use a 12 month minimum listing history.</p>
</div>


The SSE STAR 50 (STAR50 INDEX) is a free float market cap weighted and is made up of the 50 largest stocks based on full market cap that are listed on the STAR Market.


The review period for the December rebalance ends on 31 October, the results of the rebalance are likely to be announced on 26 November and the changes will be implemented at the close of trading on 10 December.
With 191 stocks listed for longer than 12 months by the review cut-off date, the minimum listing history should reset higher from 6 months to 12 months.
Potential inclusions are Xinjiang Daqo New Energy (688303 CH), InfoVision Optoelectronics Kunshan (688055 CH), Jiangsu Goodwe Power Suppl-A (688390 CH), Beijing Huafeng Test &amp; Control Technology-A (688200 CH) and Eyebright Medical Technology Beijing (688050 CH). Shanghai Medicilon Inc (688202 CH) is a close add at the moment.
Potential deletions are Willfar Information Techno-A (688100 CH), Appotronics Corp Ltd (688007 CH), Xiamen Amoytop Biotech Co Ltd (688278 CH), Espressif Systems Shanghai (688018 CH) and Anji Microelectronics Tech-A (688019 CH).
If, for some reason, the index committee decides to continue to use a 6 month minimum listing history, potential inclusions are Xinjiang Daqo New Energy (688303 CH), ZWSOFT Co Ltd Guangzhou (688083 CH), Chengdu Xgimi Technology C-A (688696 CH), Opt Machine Vision Tech Co-A (688686 CH) and InfoVision Optoelectronics Kunshan (688055 CH) while there is no change to the list of potential deletions.
One-way turnover at the December rebalance is estimated at 10.17% assuming that CSI/SSE use a 12 month minimum listing history.


STAR50 Index Rebalance December Preview: 12 Month or 6 Month Listing History, That Is The Question

China

InfoVision Optoelectronics (Kunshan) Co., Ltd. manufactures electronic components. The Company produces tablet panels, desktop panels, notebook panels, industrial displays, automotive displays, and other products. InfoVision Optoelectronics (Kunshan) also operates import and export businesses.

InfoVision Optoelectronics Kun (688055 CH)

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InfoVision Optoelectronics Kun (688055 CH)

Index Rebalance & ETF Flow Recap: STAR100, NEXT50, LowVol30, KOSPI200, TW50, NWD, ITC, India Float

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

Brian Freitas

STAR100 Index Rebalance Preview: High Risk/Return Trade Setup

There could be 10 changes for the STAR50 Index in March. The potential adds and deletes have over 2x ADV to trade on average and given the...

Brian Freitas

STAR50 Index Rebalance Dec 21 Preview: Big Turnover & Moderate Impact

We see 5 potential changes to the STAR50 index in Dec and expect a 12 month minimum listing history to be used. The potential inclusions should...

Brian Freitas

STAR50 Index Rebalance December Preview: 12 Month or 6 Month Listing History, That Is The Question

CSI and SSE could start to use a 12 month minimum listing history requirement from the December rebalance. One-way turnover could be in excess of...

Brian Freitas

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