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

Jiangsu Hoperun Software / Index Rebalance

<ul>
<li>With the review period complete, we forecast 8 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 on stocks that are adds or deletes for both indices - and there are a few of those. Plus some overlaps with the <a href="https://www.smartkarma.com/entities/csi-smallcap-500-index-shang" target="_blank" data-smartkarma-citation="entities:35347:1" rel="noopener">CSI500 Index</a>.</li>
<li>With multiple index inclusions in December, <a href="https://www.smartkarma.com/entities/jiangsu-hoperun-software-co-ltd" target="_blank" data-smartkarma-citation="entities:3466:1" rel="noopener">Jiangsu Hoperun Software (300339 CH)</a> has a lot of stock to buy from passive trackers. There could be more buying in February and March.</li>
</ul>


With the review period complete, we forecast 8 changes for the ChiNext Index (SZ399006 INDEX) and 5 changes for the ChiNext 50 Index in December.
The largest flows will be on stocks that are adds or deletes for both indices - and there are a few of those. Plus some overlaps with the CSI500 Index.
With multiple index inclusions in December, Jiangsu Hoperun Software (300339 CH) has a lot of stock to buy from passive trackers. There could be more buying in February and March.


ChiNext/​​​ChiNext50 Index Rebalance Preview: Jiangsu Hoperun's Multiple Index Inclusions & Big Risk

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>CSI 300 represents the 300 largest stocks by market cap and liquidity from the Shanghai and Shenzhen Exchanges. CSI 500 is the next 500.</li>
<li>In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2024.</li>
<li>We currently expect 16 ADDs/DELs for CSI 300 and 50 ADDs/DELs for CSI 500. Some of these names are different from what we had in our September 2024 <a href="https://www.smartkarma.com/insights/quiddity-leaderboard-csi-300-500-dec-24-massive-increase-in-aums-causes-flow-expectations-to-soar" target="_blank" rel="noopener">insight</a>.</li>
</ul>


CSI 300 represents the 300 largest stocks by market cap and liquidity from the Shanghai and Shenzhen Exchanges. CSI 500 is the next 500.
In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2024.
We currently expect 16 ADDs/DELs for CSI 300 and 50 ADDs/DELs for CSI 500. Some of these names are different from what we had in our September 2024 insight.


Quiddity Leaderboard CSI 300/​​500 Dec 24: Some Changes to Exp ADDs/DELs; Large Flow Expectations

<ul>
<li>The ChiNext Index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.</li>
<li>The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.</li>
<li>In this insight, we have presented our updated rankings for Potential ADDs and DELs for the upcoming index rebal event in December 2024.</li>
</ul>


The ChiNext Index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.
The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.
In this insight, we have presented our updated rankings for Potential ADDs and DELs for the upcoming index rebal event in December 2024.


Quiddity Leaderboard ChiNext Dec 24: US$400mn Expected Inflow for Jiangsu Hoperun

Quiddity Leaderboard ChiNext Dec 24: East Group Intra-Review Deletion Causes Changes to Expectations

Electric Connector Technology / Index Rebalance

Electric Connector Technology (300679 CH)

<ul>
<li>With 70% of the review period complete, we forecast 8 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>There are overlapping names for the two indices and some of the stocks will also have 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 - Shang (SH000905 INDEX)</a> trackers.</li>
<li>The potential adds have outperformed the potential deletes for both indices on a year-to-date basis, but near-term performance has been lackluster.</li>
</ul>


With 70% of the review period complete, we forecast 8 changes for the ChiNext Index (SZ399006 INDEX) and 5 changes for the ChiNext 50 Index in December.
There are overlapping names for the two indices and some of the stocks will also have flows from the CSI Smallcap 500 Index - Shang (SH000905 INDEX) trackers.
The potential adds have outperformed the potential deletes for both indices on a year-to-date basis, but near-term performance has been lackluster.


ChiNext/​​​ChiNext50 Index Rebalance Preview: 22 Changes & US$700m Trade

China

Jiangsu Hoperun Software Company Limited provides software outsourcing services for professional fields. The Company's main products include supply chain management software, intelligent terminal embedded software, and smart grid IT software outsourcing services.

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Jiangsu Hoperun Software (300339 CH)

ChiNext/ChiNext50 Index Rebalance Preview: Jiangsu Hoperun's Multiple Index Inclusions & Big Risk

Review period ends today. We see 8 Chinext, 5 Chinext50 changes. Jiangsu Hoperun will have US$430m to buy, plus flows from CSI trackers, plus...

Brian Freitas

Quiddity Leaderboard CSI 300/500 Dec 24: Some Changes to Exp ADDs/DELs; Large Flow Expectations

We estimate for one-way flows of US$3.5bn and US$3.9bn for CSI 300 and CSI 500 respectively. The reference period for ADDs/DELs selection ends on...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ChiNext Dec 24: US$400mn Expected Inflow for Jiangsu Hoperun

We estimate US$539mn and US$179mn one-way flows for ChiNext and ChiNext 50. Out of this, Jiangsu Hoperun (300339 CH) alone could see a massive...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ChiNext Dec 24: East Group Intra-Review Deletion Causes Changes to Expectations

The ChiNext and ChiNext 50 index rebalance events could trigger one-way flows of US$297mn and US$97mn respectively during the December 2024 index...

Janaghan Jeyakumar, CFA

ChiNext/ChiNext50 Index Rebalance Preview: 22 Changes & US$700m Trade

There could be 8 changes for the Chinext and 5 changes for the Chinext50. There are 4 overlapping stocks and there are stocks with over 1x ADV to...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ChiNext/​​​ChiNext50 Index Rebalance Preview: Jiangsu Hoperun's Multiple Index Inclusions & Big Risk

Review period ends today. We see 8 Chinext, 5 Chinext50 changes. Jiangsu Hoperun will have US$430m to buy, plus flows from CSI trackers, plus...

Brian Freitas

Quiddity Leaderboard CSI 300/​​500 Dec 24: Some Changes to Exp ADDs/DELs; Large Flow Expectations

We estimate for one-way flows of US$3.5bn and US$3.9bn for CSI 300 and CSI 500 respectively. The reference period for ADDs/DELs selection ends on...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ChiNext Dec 24: US$400mn Expected Inflow for Jiangsu Hoperun

We estimate US$539mn and US$179mn one-way flows for ChiNext and ChiNext 50. Out of this, Jiangsu Hoperun (300339 CH) alone could see a massive...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ChiNext Dec 24: East Group Intra-Review Deletion Causes Changes to Expectations

The ChiNext and ChiNext 50 index rebalance events could trigger one-way flows of US$297mn and US$97mn respectively during the December 2024 index...

Janaghan Jeyakumar, CFA

ChiNext/​​​ChiNext50 Index Rebalance Preview: 22 Changes & US$700m Trade

There could be 8 changes for the Chinext and 5 changes for the Chinext50. There are 4 overlapping stocks and there are stocks with over 1x ADV to...

Brian Freitas

ChiNext/ChiNext50 Index Rebalance Preview: Jiangsu Hoperun's Multiple Index Inclusions & Big Risk

Quiddity Leaderboard CSI 300/500 Dec 24: Some Changes to Exp ADDs/DELs; Large Flow Expectations

ChiNext/ChiNext50 Index Rebalance Preview: 22 Changes & US$700m Trade