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>Two thirds of the way through the review period, we see one change for the <a href="https://www.smartkarma.com/entities/stock-exchange-of-thailand-set-50-index" target="_blank" data-smartkarma-citation="entities:31493:1" rel="noopener">SET 50 Index</a> in December with <a href="https://www.smartkarma.com/entities/kce-electronics-pcl" target="_blank" data-smartkarma-citation="entities:1892:1" rel="noopener">KCE Electronics (KCE TB)</a> replacing <a href="https://www.smartkarma.com/entities/ngern-tid-lor-pcl" target="_blank" data-smartkarma-citation="entities:31103:1" rel="noopener">Ngern Tid Lor (TIDLOR TB)</a>. </li>
<li>There is one close change where <a href="https://www.smartkarma.com/entities/i-tail-corp-pcl" target="_blank" data-smartkarma-citation="entities:36428:1" rel="noopener">I-TAIL (ITC TB)</a> could replace <a href="https://www.smartkarma.com/entities/srisawad-corp-pcl" target="_blank" data-smartkarma-citation="entities:9480:1" rel="noopener">Srisawad Power 1979 (SAWAD TB)</a> in the index.</li>
<li>
<a href="https://www.smartkarma.com/entities/delta-electronics-thailand-pcl-98806732-8ac4-42b2-a565-ba32673d1e5a" target="_blank" data-smartkarma-citation="entities:20912:1" rel="noopener">Delta Electronics Thailand (DELTA TB)</a> is unlikely to be deleted while <a href="https://www.smartkarma.com/entities/berli-jucker-public-co-ltd" target="_blank" data-smartkarma-citation="entities:3685:1" rel="noopener">Berli Jucker (BJC TB)</a> fails liquidity and is unlikely to be added.</li>
</ul>


Two thirds of the way through the review period, we see one change for the SET 50 Index in December with KCE Electronics (KCE TB) replacing Ngern Tid Lor (TIDLOR TB). 
There is one close change where I-TAIL (ITC TB) could replace Srisawad Power 1979 (SAWAD TB) in the index.

Delta Electronics Thailand (DELTA TB) is unlikely to be deleted while Berli Jucker (BJC TB) fails liquidity and is unlikely to be added.


SET50 Index Rebalance Preview: One High Probability Change; Another One Is Close

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Apr 11th. We estimate that they had an aggregated short interest worth USD1.7bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in WHA Corporation PCL , Siam Cement PLC.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Apr 11th. We estimate that they had an aggregated short interest worth USD1.7bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in WHA Corporation PCL , Siam Cement PLC.


Thailand Short Interest Weekly (Apr 11th): WHA, SCC

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Apr 4th.We estimate that they had an aggregated short interest worth USD1.8bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Airports of Thailand, PTT E&amp;P, Bangkok Bank, Kasikornbank, CP ALL, CP AXTRA NVDR, Thai Oil, Supalai, Siri Prime Office Property Fd.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Apr 4th.We estimate that they had an aggregated short interest worth USD1.8bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Airports of Thailand, PTT E&amp;P, Bangkok Bank, Kasikornbank, CP ALL, CP AXTRA NVDR, Thai Oil, Supalai, Siri Prime Office Property Fd.


Thailand Short Interest Weekly (Apr 4th): Airports of Thailand, PTT E&P, Bangkok Bank, Kasikornbank

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Jan 3rd.We estimate that they had an aggregated short interest worth USD1.9bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Cal-Comp Electronics, JMT Network Services, VGI, Delta Electronics, CP ALL, Kasikornbank, SCC.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Jan 3rd.We estimate that they had an aggregated short interest worth USD1.9bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Cal-Comp Electronics, JMT Network Services, VGI, Delta Electronics, CP ALL, Kasikornbank, SCC.


Thailand Short Interest Weekly (Jan 3rd): Cal-Comp Electronics, JMT Network Services, VGI

<ul>
<li>The adhoc <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index</a> rebalance and the regular Nifty200 Momentum30 Index rebalance will be implemented on Thursday and the <a href="https://www.smartkarma.com/entities/stock-exchange-of-thailand-set-50-index" target="_blank" data-smartkarma-citation="entities:31493:1" rel="noopener">SET 50 Index</a> rebalance will be implemented on Friday.</li>
<li>The review cutoff period for a whole bunch of indices ends on 29 December and the announcement of the results and implementation will take place early next year.</li>
<li>There were big inflows to China ETFs and to Emerging Market ETFs including <a href="https://www.smartkarma.com/entities/ishares-core-msci-emerging-mar" target="_blank" data-smartkarma-citation="entities:32967:1" rel="noopener">iShares Core Emerging Mar (IEMG US)</a>, <a href="https://www.smartkarma.com/entities/vanguard-ftse-emerging-markets-etf" target="_blank" data-smartkarma-citation="entities:778:1" rel="noopener">Vanguard Emerging Markets (VWO US)</a> and <a href="https://www.smartkarma.com/entities/ishares-msci-emerging-markets-223f5da3-7054-4e4f-bc55-b7f0852c2581" target="_blank" data-smartkarma-citation="entities:31998:1" rel="noopener">iShares Emerging Markets (EMXC US)</a>. </li>
</ul>


The adhoc KOSDAQ 150 Index rebalance and the regular Nifty200 Momentum30 Index rebalance will be implemented on Thursday and the SET 50 Index rebalance will be implemented on Friday.
The review cutoff period for a whole bunch of indices ends on 29 December and the announcement of the results and implementation will take place early next year.
There were big inflows to China ETFs and to Emerging Market ETFs including iShares Core Emerging Mar (IEMG US), Vanguard Emerging Markets (VWO US) and iShares Emerging Markets (EMXC US). 


Index Rebalance & ETF Flow Recap: STAR50, SET50, AMFI, KOSDAQ150

Thailand

JMT Network Services PCL is involved in the debt collection business in Thailand.

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JMT Network Services (JMT TB)

SET50 Index Rebalance Preview: One High Probability Change; Another One Is Close

KCE could replace TIDLOR in the SET50 in Dec. ITC is a close add and could replace SAWAD. The impact on the stocks is big given the index is...

Brian Freitas

Thailand Short Interest Weekly (Apr 11th): WHA, SCC

We analyzed SET short interest report for the past week and highlighted short interest changes in WHA Corporation PLC, SCC.

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Apr 4th): Airports of Thailand, PTT E&P, Bangkok Bank, Kasikornbank

We analyzed SET short interest report for the past week and highlighted short interest changes in Airports of Thailand, PTT E&P, Bangkok Bank,...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Jan 3rd): Cal-Comp Electronics, JMT Network Services, VGI

We analyzed SET short interest report for the past week and highlighted short interest changes in Cal-Comp Electronics, JMT Network Services, VGI,...

Ke Yan, CFA, FRM

Index Rebalance & ETF Flow Recap: STAR50, SET50, AMFI, KOSDAQ150

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

Brian Freitas

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