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 is 1 add/delete for the MVIS Global Uranium &amp; Nuclear Energy Index while there are no constituent changes for the MarketVector Global Uranium and Nuclear Energy Infrastructure Index.</li>
<li>
<a href="https://www.smartkarma.com/entities/isoenergy-ltd" target="_blank" data-smartkarma-citation="entities:43145:1" rel="noopener">IsoEnergy (ISO CN)</a> will replace <a href="https://www.smartkarma.com/entities/ur-energy-inc-845bf87b-f51b-4d57-8b7e-f6696dc23213" target="_blank" data-smartkarma-citation="entities:39270:1" rel="noopener">Ur-Energy (URG US)</a> in the MVIS Global Uranium &amp; Nuclear Energy Index at the close on 20 March.</li>
<li>The round-trip trade across both indices is US$1.05bn with capping changes resulting in much bigger flow for the MVIS Global Uranium &amp; Nuclear Energy Index.</li>
</ul>


There is 1 add/delete for the MVIS Global Uranium &amp; Nuclear Energy Index while there are no constituent changes for the MarketVector Global Uranium and Nuclear Energy Infrastructure Index.

IsoEnergy (ISO CN) will replace Ur-Energy (URG US) in the MVIS Global Uranium &amp; Nuclear Energy Index at the close on 20 March.
The round-trip trade across both indices is US$1.05bn with capping changes resulting in much bigger flow for the MVIS Global Uranium &amp; Nuclear Energy Index.


MV Global Uranium & Nuclear Energy/Infra Index Rebalance: US$1.05bn Net Trade Across Indices

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Jan 16th. The aggregated short interest was USD12.3bn.</li>
<li>We tabulate league tables 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 Hyundai Motor, TaihanElecWire, KEPCO E&amp;C, Hanwha Ocean, Samsung Electronics.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jan 16th. The aggregated short interest was USD12.3bn.
We tabulate league tables 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 Hyundai Motor, TaihanElecWire, KEPCO E&amp;C, Hanwha Ocean, Samsung Electronics.


KRX Short Interest Weekly (Jan 16th): Hyundai Motor, TaihanElecWire, KEPCO E&C, Hanwha Ocean

Global Materials | Industrials | Commodities

Rahul Jain

Equity Bottom-Up

<ul>
<li>Macro: Nuclear restarts (Tomari-3, Aug-25) and record defense budgets underpin demand for JSW’s forgings.</li>
<li>Results: Q1 FY25 showed solid YoY growth (revenue +7%, OP +21%) with margins lifted by defense/nuclear.</li>
<li>Valuation/Risks: Shares trade at ~26× P/E on a ¥508 bn backlog; upside rests on execution, with delays the key risk.</li>
</ul>


Macro: Nuclear restarts (Tomari-3, Aug-25) and record defense budgets underpin demand for JSW’s forgings.
Results: Q1 FY25 showed solid YoY growth (revenue +7%, OP +21%) with margins lifted by defense/nuclear.
Valuation/Risks: Shares trade at ~26× P/E on a ¥508 bn backlog; upside rests on execution, with delays the key risk.


JSW: Backlog 2× Sales, Nuclear Edge Drives Upside

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Aug 1st. The aggregated short interest was USD9.7bn.</li>
<li>We tabulate league tables 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 HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG H&amp;H, Hanwha Vision.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 1st. The aggregated short interest was USD9.7bn.
We tabulate league tables 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 HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG H&amp;H, Hanwha Vision.


KRX Short Interest Weekly (Aug 1st): HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG H&H

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Jul 4th. The aggregated short interest was USD9.1bn.</li>
<li>We tabulate league tables 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 Hanwha Ocean, Hyundai Rotem, Kiwoom, Doosan Enerbility, Cosmax.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jul 4th. The aggregated short interest was USD9.1bn.
We tabulate league tables 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 Hanwha Ocean, Hyundai Rotem, Kiwoom, Doosan Enerbility, Cosmax.


KRX Short Interest Weekly (Jul 4th): Hanwha Ocean, Hyundai Rotem, Kiwoom, Doosan Enerbility, Cosmax

South Korea

KEPCO Engineering & Construction Company, Inc. designs nuclear and conventionally-fueled electricity generating plants.  The Company also provides power plant engineering services and consulting services to power industry.

Kepco Engineering & Construction (052690 KS)

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

Kepco Engineering & Construction (052690 KS)

MV Global Uranium & Nuclear Energy/Infra Index Rebalance: US$1.05bn Net Trade Across Indices

IsoEnergy will replace Ur-Energy in the NLR ETF. The round-trip trade across both indices is US$1.05bn. There are a few stocks with over 1x ADV to...

Brian Freitas

KRX Short Interest Weekly (Jan 16th): Hyundai Motor, TaihanElecWire, KEPCO E&C, Hanwha Ocean

We analyzed KRX short interest report for the past week and highlighted short interest changes in Hyundai Motor, TaihanElecWire, KEPCO E&C, Hanwha...

Ke Yan, CFA, FRM

JSW: Backlog 2× Sales, Nuclear Edge Drives Upside

Strong demand for JSW's forgings driven by nuclear restarts and record defense budgets, Q1 FY25 results show solid growth with margins lifted by...

Rahul Jain

KRX Short Interest Weekly (Aug 1st): HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG H&H

We analyzed KRX short interest report for the past week and highlighted short interest changes in HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Jul 4th): Hanwha Ocean, Hyundai Rotem, Kiwoom, Doosan Enerbility, Cosmax

We analyzed KRX short interest report for the past week and highlighted short interest changes in Hanwha Ocean, Hyundai Rotem, Kiwoom, Doosan...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

MV Global Uranium & Nuclear Energy/Infra Index Rebalance: US$1.05bn Net Trade Across Indices

IsoEnergy will replace Ur-Energy in the NLR ETF. The round-trip trade across both indices is US$1.05bn. There are a few stocks with over 1x ADV to...

Brian Freitas

KRX Short Interest Weekly (Jan 16th): Hyundai Motor, TaihanElecWire, KEPCO E&C, Hanwha Ocean

We analyzed KRX short interest report for the past week and highlighted short interest changes in Hyundai Motor, TaihanElecWire, KEPCO E&C, Hanwha...

Ke Yan, CFA, FRM

JSW: Backlog 2× Sales, Nuclear Edge Drives Upside

​Strong demand for JSW's forgings driven by nuclear restarts and record defense budgets, Q1 FY25 results show solid growth with margins lifted by...

Rahul Jain

KRX Short Interest Weekly (Aug 1st): HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG H&H

We analyzed KRX short interest report for the past week and highlighted short interest changes in HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Jul 4th): Hanwha Ocean, Hyundai Rotem, Kiwoom, Doosan Enerbility, Cosmax

We analyzed KRX short interest report for the past week and highlighted short interest changes in Hanwha Ocean, Hyundai Rotem, Kiwoom, Doosan...

Ke Yan, CFA, FRM

Strong demand for JSW's forgings driven by nuclear restarts and record defense budgets, Q1 FY25 results show solid growth with margins lifted by...