Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>Today, in the latest announcement in 17 years, the Nikkei Index Committee announced there would be only one change to the Nikkei 225 at the 30 Sep close. </li>
<li>
<a href="https://www.smartkarma.com/entities/shift-inc" target="_blank" data-smartkarma-citation="entities:7266:1" rel="noopener">Shift Inc (3697 JP)</a> is IN. <a href="https://www.smartkarma.com/entities/citizen-watch-co-ltd" target="_blank" data-smartkarma-citation="entities:8571:1" rel="noopener">Citizen Watch (7762 JP)</a> is OUT. <a href="https://www.smartkarma.com/entities/baycurrent-consulting-inc" target="_blank" data-smartkarma-citation="entities:25985:1" rel="noopener">BayCurrent Consulting (6532 JP)</a> is uplifted. Sony Financial Spin is out 29 Sep. <a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric (6525 JP)</a>? MIA. </li>
<li>In dollar terms it is smallish. In ADV terms there are some big changes. And this puts Kokusai Electric back possibly years. </li>
</ul>


Today, in the latest announcement in 17 years, the Nikkei Index Committee announced there would be only one change to the Nikkei 225 at the 30 Sep close. 

Shift Inc (3697 JP) is IN. Citizen Watch (7762 JP) is OUT. BayCurrent Consulting (6532 JP) is uplifted. Sony Financial Spin is out 29 Sep. Kokusai Electric (6525 JP)? MIA. 
In dollar terms it is smallish. In ADV terms there are some big changes. And this puts Kokusai Electric back possibly years. 


[Quiddity Index] Nikkei 225 Sep25 Review: Shift (3697) In, Citizen Watch (7762) Out. Kokusai Misses

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shift-inc" target="_blank" data-smartkarma-citation="entities:7266:1" rel="noopener">Shift Inc (3697 JP)</a> will replace <a href="https://www.smartkarma.com/entities/citizen-watch-co-ltd" target="_blank" data-smartkarma-citation="entities:8571:1" rel="noopener">Citizen Watch (7762 JP)</a> in the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> after the close of trading on 30 September.</li>
<li>
<a href="https://www.smartkarma.com/entities/baycurrent-consulting-inc" target="_blank" data-smartkarma-citation="entities:25985:1" rel="noopener">BayCurrent Consulting</a>'s PAF will double from 0.5 to 1 and <a href="https://www.smartkarma.com/entities/sony-financial-holdings-inc" target="_blank" data-smartkarma-citation="entities:564:1" rel="noopener">Sony Financial Holdings (8729 JP)</a> will be deleted from the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">NKY INDEX</a> following the spin-off from <a href="https://www.smartkarma.com/entities/sony-corp" target="_blank" data-smartkarma-citation="entities:563:1" rel="noopener">Sony Corp (6758 JP)</a>. </li>
<li>The index committee has decided not to add <a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric</a> to the index despite the stock ranking within the top 75. The deletion of <a href="https://www.smartkarma.com/entities/citizen-watch-co-ltd" target="_blank" data-smartkarma-citation="entities:8571:1" rel="noopener">Citizen Watch</a> points to sector balance.</li>
</ul>



Shift Inc (3697 JP) will replace Citizen Watch (7762 JP) in the Nikkei 225 (NKY INDEX) after the close of trading on 30 September.

BayCurrent Consulting's PAF will double from 0.5 to 1 and Sony Financial Holdings (8729 JP) will be deleted from the NKY INDEX following the spin-off from Sony Corp (6758 JP). 
The index committee has decided not to add Kokusai Electric to the index despite the stock ranking within the top 75. The deletion of Citizen Watch points to sector balance.


Nikkei 225 Index Rebalance: Shift (3697) Replaces Citizen Watch (7762); Kokusai Electric (6525)👎

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Huge +18% move for Sandisk will help Japan's memory complex leg higher.</li>
<li>Networking developer Ciena jumped 23% after blow-out numbers while Broadcom beats after-hours.</li>
<li>10-Year yield dropping below its recent supports helps home builders higher while Shin Etsu continues to underwhelm.</li>
</ul>


Huge +18% move for Sandisk will help Japan's memory complex leg higher.
Networking developer Ciena jumped 23% after blow-out numbers while Broadcom beats after-hours.
10-Year yield dropping below its recent supports helps home builders higher while Shin Etsu continues to underwhelm.


Japan Morning Connection: Tech Storms Higher on a Raft of Positive Earnings and Bullish NAND Outlook

<ul>
<li>Memory continues to surge with Western Digital named as a top pick helping lift peers.</li>
<li>Power and industrial semi's lower after a poor reception to Infineon's IR conference comments and Trump's wind power attack.</li>
<li>Da Vinci facing headwinds as funding recedes in another negative for Sysmex who continues to reel after poor numbers.</li>
</ul>


Memory continues to surge with Western Digital named as a top pick helping lift peers.
Power and industrial semi's lower after a poor reception to Infineon's IR conference comments and Trump's wind power attack.
Da Vinci facing headwinds as funding recedes in another negative for Sysmex who continues to reel after poor numbers.


Japan Morning Connection: Alphabet and Apple Prop the Market up as AI Cited as a Competitive Threat

<ul>
<li>Both Marvell and Dell were out after-market Friday so the reaction in Japan to start may be less severe.</li>
<li>Sandisk cutting through the static now up for 7th day in a row as sentiment for NAND rises on potential AI growth.</li>
<li>Kokusai Electric may also see a positive change in tone if the market takes another look at NAND production equipment.</li>
</ul>


Both Marvell and Dell were out after-market Friday so the reaction in Japan to start may be less severe.
Sandisk cutting through the static now up for 7th day in a row as sentiment for NAND rises on potential AI growth.
Kokusai Electric may also see a positive change in tone if the market takes another look at NAND production equipment.


Japan Morning Connection: Tech Battered by Marvell and Dell Misses Ahead of Labor Day Break

Japan

Kokusai Electric Corporation manufactures and distributes semiconductor manufacturing systems. The Company produces batch processing systems, single wafer processing systems, and other systems. Kokusai Electric also operates advanced thermal process technology development, training, and other businesses.

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Kokusai Electric (6525 JP)

[Quiddity Index] Nikkei 225 Sep25 Review: Shift (3697) In, Citizen Watch (7762) Out. Kokusai Misses

The Nikkei Index Committee chose to just change one name. Again disappointing. Kokusai misses out as Shift is added, Citizen Watch removed. ADV...

Travis Lundy

Nikkei 225 Index Rebalance: Shift (3697) Replaces Citizen Watch (7762); Kokusai Electric (6525)👎

SHIFT will replace Citizen Watch in the NKY at the close on 30 Sep. Baycurrent's PAF increases from 0.5 to 1. Sony Financial will be sold on 29...

Brian Freitas

Japan Morning Connection: Tech Storms Higher on a Raft of Positive Earnings and Bullish NAND Outlook

Lynx equity strategies research sent NAND related higher in the US, watch JP memory names today. Drop in 10-year yield will help homebuilders....

Andrew Jackson

Japan Morning Connection: Alphabet and Apple Prop the Market up as AI Cited as a Competitive Threat

Memory names continue to perform well. Intuitive surgical dropped after guidance showed impact from tarrifs. Marvell falls again after lackluster...

Andrew Jackson

Japan Morning Connection: Tech Battered by Marvell and Dell Misses Ahead of Labor Day Break

Marvell's poor earnings pulled AI related down while NAND related stayed strong. Kokusai Electric is rebounding off its 200 day after a 20%...

Andrew Jackson

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