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>The review period for the June rebalance of the <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">Hang Seng TECH Index</a> ended on 31 March, the changes will be announced on 22 May and implemented on 5 June.</li>
<li>2 constituent changes and capping changes will result in a one-way turnover of 3.5% resulting in a round-trip trade of HK$24bn (US$3.1bn).</li>
<li>The forecast adds have benefited from the AI theme while the forecast deletes have dropped as software application companies continue to be hit by expected AI disruption to business models.</li>
</ul>


The review period for the June rebalance of the Hang Seng TECH Index ended on 31 March, the changes will be announced on 22 May and implemented on 5 June.
2 constituent changes and capping changes will result in a one-way turnover of 3.5% resulting in a round-trip trade of HK$24bn (US$3.1bn).
The forecast adds have benefited from the AI theme while the forecast deletes have dropped as software application companies continue to be hit by expected AI disruption to business models.


HSTECH Index Rebalance Preview: Style Rotation Drives AI Additions & Software Deletions

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>Weekly price action driven by a midweek surge which put a shine on internal participation.</li>
<li>Trading activity was subdued due to the shortened week, with volumes declining in line with typical holiday conditions.</li>
<li>Implied volatility declined across both index and single stock options, reflecting reduced activity and a quieter trading environment.</li>
</ul>


Weekly price action driven by a midweek surge which put a shine on internal participation.
Trading activity was subdued due to the shortened week, with volumes declining in line with typical holiday conditions.
Implied volatility declined across both index and single stock options, reflecting reduced activity and a quieter trading environment.


Hong Kong Single Stock Options Weekly (Apr 08–10): Markets Awaken on the Back of Midweek Taco Rally

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The HSTECH index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.</li>
<li>In this insight, we take a look at the potential index changes and the resultant capping flows for the HSTECH index rebal event in June 2026.</li>
<li>According to the latest rankings, we see two expected changes for the HSTECH index in June 2026.</li>
</ul>


The HSTECH index tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.
In this insight, we take a look at the potential index changes and the resultant capping flows for the HSTECH index rebal event in June 2026.
According to the latest rankings, we see two expected changes for the HSTECH index in June 2026.


Quiddity Leaderboard HSTECH Jun26: Interesting Question Marks for ADDs; Reference Period Not Over

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 latest HK SFC report for aggregate short position as of Feb 20th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Alibaba, CCB, CNOOC, Time Interconnect Technology.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Feb 20th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Alibaba, CCB, CNOOC, Time Interconnect Technology.


HK Short Interest Weekly: Alibaba, CCB, CNOOC, Time Interconnect Technology

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 16th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Tencent, Kuaishou, China Mobile, Xiaomi, CCB, China Life, Meituan, Hua Hong Semiconductor, Hang Seng Bank, Laopu Gold.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of January 16th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Tencent, Kuaishou, China Mobile, Xiaomi, CCB, China Life, Meituan, Hua Hong Semiconductor, Hang Seng Bank, Laopu Gold.


HK Connect Flows Weekly (Jan 16th): Tencent, Kuaishou, China Mobile, Xiaomi, CCB, China Life

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)

HSTECH Index Rebalance Preview: Style Rotation Drives AI Additions & Software Deletions

The 2 constituent changes and capping changes will result in a one-way turnover of 3.5% and in a round-trip trade of HK$24bn as the market rotates...

Brian Freitas

Hong Kong Single Stock Options Weekly (Apr 08–10): Markets Awaken on the Back of Midweek Taco Rally

A holiday-shortened week saw midweek strength drive participation, alongside softer volumes and vols, with Pop Mart notable for elevated Put...

John Ley

Quiddity Leaderboard HSTECH Jun26: Interesting Question Marks for ADDs; Reference Period Not Over

The expected index changes mentioned in this insight are our final expectations for the HSTECH Jun26 index review. The capping flow expectations...

Janaghan Jeyakumar, CFA

HK Short Interest Weekly: Alibaba, CCB, CNOOC, Time Interconnect Technology

We analyzed the latest HK SFC report for aggregate short position as of Feb 20th and highlight short interest changes in Alibaba, CCB, CNOOC, Time...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Jan 16th): Tencent, Kuaishou, China Mobile, Xiaomi, CCB, China Life

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Tencent (700 HK), Kuaishou (1024 HK), China Mobile (941...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)