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

Contemporary Amperex Technology (CATL) / Index Rebalance

<ul>
<li>There could be 3 constituent changes for the <a href="https://www.smartkarma.com/entities/ishares-china-large-cap-etf" target="_blank" data-smartkarma-citation="entities:766:1" rel="noopener">iShares China Large-Cap (FXI) (FXI US)</a> ETF in December. That could easily increase to 4.</li>
<li>Two of the forecast inclusions will also have inflows from the FGlobal Index at the same time, increasing the impact. The third is a potential <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">HSCEI INDEX</a> add in December.</li>
<li>The HA premiums for <a href="https://www.smartkarma.com/entities/contemporary-amperex-technology-catl-co-limited" target="_blank" data-smartkarma-citation="entities:45179:1" rel="noopener">CATL (3750 HK)</a> and <a href="https://www.smartkarma.com/entities/jiangsu-hengrui-pharmaceuticals-co-ltd" target="_blank" data-smartkarma-citation="entities:44224:1" rel="noopener">Jiangsu Hengrui (1276 HK)</a> have dropped ahead of lock-up expiry and there could be premium expansion closer to index/ETF inclusion.</li>
</ul>


There could be 3 constituent changes for the iShares China Large-Cap (FXI) (FXI US) ETF in December. That could easily increase to 4.
Two of the forecast inclusions will also have inflows from the FGlobal Index at the same time, increasing the impact. The third is a potential HSCEI INDEX add in December.
The HA premiums for CATL (3750 HK) and Jiangsu Hengrui (1276 HK) have dropped ahead of lock-up expiry and there could be premium expansion closer to index/ETF inclusion.


FXI Rebalance Preview: New Listings, Potential Inclusions, H/A Premiums

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 latest HK SFC report for aggregate short position as of Oct 31st.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Csop Hsi (2X Inv), TraHK HSI ETF, Akeso.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Oct 31st.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Csop Hsi (2X Inv), TraHK HSI ETF, Akeso.


HK Short Interest Weekly: Csop Hsi (2X Inv), TraHK HSI ETF, Akeso

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>Gross SOUTHBOUND volumes rebounded to US$16bn a day over the past week (four trading days) and NET buying was decent at nearly HK$7bn a day. Very Un-beautiful skew again though.</li>
<li>The recommended name was long <a href="https://www.smartkarma.com/entities/guangzhou-automobile-group-co-ltd" target="_blank" data-smartkarma-citation="entities:11082:1" rel="noopener">Guangzhou Automobile Group (2238 HK)</a>.   From Monday's close to Friday's close, the stock was down 2+% and the H underperformed the A by 5.7%. Awful.</li>
<li>The data tables below update on a daily basis in the <a href="https://www.smartkarma.com/tools" target="_blank" rel="noopener">Tools</a> section of Smartkarma. The <a href="https://www.smartkarma.com/tools/quiddity/south-flow-monitor" target="_blank" rel="noopener">Southbound Flow Monitor</a> and <a href="https://www.smartkarma.com/tools/quiddity/ah-shares-monitor" target="_blank" rel="noopener">AH Pairs Monitor</a> are both there - free - for all SK readers.</li>
</ul>


Gross SOUTHBOUND volumes rebounded to US$16bn a day over the past week (four trading days) and NET buying was decent at nearly HK$7bn a day. Very Un-beautiful skew again though.
The recommended name was long Guangzhou Automobile Group (2238 HK).   From Monday's close to Friday's close, the stock was down 2+% and the H underperformed the A by 5.7%. Awful.
The data tables below update on a daily basis in the Tools section of Smartkarma. The Southbound Flow Monitor and AH Pairs Monitor are both there - free - for all SK readers.


HK Connect SOUTHBOUND Flows (Wk To 31 Oct 2025) - Volatile Unwinding But Net SOE Buying

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Oct 24th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Shandong Gold Mining, CSPC Pharma, CCB, Zhaojin Mining Industry.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Oct 24th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Shandong Gold Mining, CSPC Pharma, CCB, Zhaojin Mining Industry.


HK Short Interest Weekly: Shandong Gold Mining, CSPC Pharma, CCB, Zhaojin Mining Industry

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 31st.</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 CNOOC, SMIC, Alibaba, China Mobile, CSPC Pharma, Tencent, Meituan, Li Auto.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of October 31st.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for CNOOC, SMIC, Alibaba, China Mobile, CSPC Pharma, Tencent, Meituan, Li Auto.


HK Connect Flows Weekly (Oct 31st): CNOOC, SMIC, Alibaba, China Mobile, CSPC Pharma, Tencent

China

Li Auto Inc. manufactures automobiles. The Company designs, develops, and sells smart new energy electric sport utility vehicles. Li Auto conducts businesses in China.

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Li Auto (2015 HK)

FXI Rebalance Preview: New Listings, Potential Inclusions, H/A Premiums

There could be 3/4 changes for the FXI in Dec. 2/3 adds will also have flows from global index trackers. H/A premiums have been shrinking ahead of...

Brian Freitas

HK Short Interest Weekly: Csop Hsi (2X Inv), TraHK HSI ETF, Akeso

We analyzed the latest HK SFC report for aggregate short position as of Oct 31st and highlight short interest changes in Csop Hsi (2X Inv), TraHK...

Ke Yan, CFA, FRM

HK Connect SOUTHBOUND Flows (Wk To 31 Oct 2025) - Volatile Unwinding But Net SOE Buying

HK SOUTHBOUND volumes were again slightly limited - $16bn a day vs $21bn a day two weeks prior - but net flows were still decent. For a third week...

Travis Lundy

HK Short Interest Weekly: Shandong Gold Mining, CSPC Pharma, CCB, Zhaojin Mining Industry

We analyzed the latest HK SFC report for aggregate short position as of Oct 24th and highlight short interest changes in Shandong Gold Mining, CSPC...

Ke Yan, CFA, FRM

HK Connect Flows Weekly (Oct 31st): CNOOC, SMIC, Alibaba, China Mobile, CSPC Pharma, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for CNOOC, SMIC, Alibaba, China Mobile, CSPC Pharma, Tencent,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

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Dividend (Yield)