Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The Hang Seng indices announced June 2026 index review changes on Friday. Most changes to indices with significant tracking AUM were as expected. Quiddity correctly predicted 11/11 ex-HSI.</li>
<li>HSI was, as always, a process of dart-throwing. HSI is trying to add stocks to increase count, and by our analysis, needed to add names from Healthcare, Industrials, and Materials. </li>
<li>HSI selected one from each. Among the 6 top indices affected, there is HK$29bn to trade across 200 names, but only 12 with more than one day of ADV.</li>
</ul>


The Hang Seng indices announced June 2026 index review changes on Friday. Most changes to indices with significant tracking AUM were as expected. Quiddity correctly predicted 11/11 ex-HSI.
HSI was, as always, a process of dart-throwing. HSI is trying to add stocks to increase count, and by our analysis, needed to add names from Healthcare, Industrials, and Materials. 
HSI selected one from each. Among the 6 top indices affected, there is HK$29bn to trade across 200 names, but only 12 with more than one day of ADV.


[Quiddity Index] HSI Rebal Results Almost All As Predicted - HK$29bn One-Way

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.

<ul>
<li>Hang Seng announced index review for the June 2026 Rebalance. Our pre-announcement note dated 11 May 2026 called both ADD candidates and both DELETE candidates correctly.</li>
<li>We analyzed dynamics around two ADDs, from a historical perspective, on the post-announcement positioning.</li>
<li>We also analyzed dynamics around two DELETEs. Both DELETEs fell by similar magnitudes with slightly above-baseline volume</li>
</ul>


Hang Seng announced index review for the June 2026 Rebalance. Our pre-announcement note dated 11 May 2026 called both ADD candidates and both DELETE candidates correctly.
We analyzed dynamics around two ADDs, from a historical perspective, on the post-announcement positioning.
We also analyzed dynamics around two DELETEs. Both DELETEs fell by similar magnitudes with slightly above-baseline volume


HS TECH June 2026 Rebalance: Post-Announcement Positioning

<ul>
<li>We screen the HS TECH eligible universe ahead of the index's May 2026 quarterly review.</li>
<li>Both of the ADD candidates are well within the ADD zone.</li>
<li>One delete is now in the forced delete zone at rank 37, the second remains in the buffer zone.</li>
</ul>


We screen the HS TECH eligible universe ahead of the index's May 2026 quarterly review.
Both of the ADD candidates are well within the ADD zone.
One delete is now in the forced delete zone at rank 37, the second remains in the buffer zone.


<ul>
<li>HSCI entry. MiniMax becomes a strong HSCI candidate for June 2026 with MV12 of HKD 225bn.</li>
<li>HS TECH entry. We expect MiniMax to enter HS TECH at the May 2026 review.</li>
<li>HSI barrier. The FY25 net loss will likely fail it for the immediate HSI review.</li>
</ul>


HSCI entry. MiniMax becomes a strong HSCI candidate for June 2026 with MV12 of HKD 225bn.
HS TECH entry. We expect MiniMax to enter HS TECH at the May 2026 review.
HSI barrier. The FY25 net loss will likely fail it for the immediate HSI review.


Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

<p>Asia and the BRIC segment continue to outperform the broad EM universe. Based on technical breakouts in each of their relative strength trends (vs. MSCI EM), we see these trends continuing well into 2018.  Elsewhere, Russia is on the cusp of a breakout. The Philippines is breaking out. And Korea, a market that broke out earlier this year from a 6-year base, is a buy on weakness.  </p><p>Today’s report includes a complete summary of our EM views as well as a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.</p>

Asia and the BRIC segment continue to outperform the broad EM universe. Based on technical breakouts in each of their relative strength trends (vs. MSCI EM), we see these trends continuing well into 2018.  Elsewhere, Russia is on the cusp of a breakout. The Philippines is breaking out. And Korea, a market that broke out earlier this year from a 6-year base, is a buy on weakness.  Today’s report includes a complete summary of our EM views as well as a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.

EM Outlook: Bullish, Led by BRIC and Asia

China

Kingdee International Software Group is a leading provider of cloud-based enterprise management SaaS solutions and enterprise resource planning (ERP) software. The company offers solutions for financial management, human resources, supply chain, and manufacturing, often powered by AI. It was established in 1993 and is headquartered in Shenzhen, China.

Kingdee International Software Group (268 HK)

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

Kingdee International Software Group (268 HK)

[Quiddity Index] HSI Rebal Results Almost All As Predicted - HK$29bn One-Way

The Hang Seng indices announced review results on Friday. The inclusion/exclusion date is 5 June. Capping is finalised three days before. 14...

Travis Lundy

HS TECH June 2026 Rebalance: Post-Announcement Positioning

HSTECH June 2026 post-announcement cycle is starting. ADD setup is stock-specific after divergent WPreA2 moves. DELETE continuation depends on WAI0...

Ke Yan, CFA, FRM

HS TECH Index May 2026 Review Forecast

HS TECH May 2026 rebalance announcement due after market close today: a good time to revisit our review forecast as the decision approaches.

Ke Yan, CFA, FRM

MiniMax-W: Index Events Reassessed

We analyze Minimax's upcoming index event and reassess the possibility of its HSI entry. HS TECH and HSCI enter in June; HSI is deferred until the...

Ke Yan, CFA, FRM

EM Outlook: Bullish, Led by BRIC and Asia

Asia and the BRIC segment continue to outperform the broad EM universe. Based on technical breakouts in each of their relative strength trends (vs....

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)