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>
<a href="https://www.smartkarma.com/entities/pls-group-limited" target="_blank" data-smartkarma-citation="entities:7460:1" rel="noopener">PLS Group (PLS AU)</a> missed being added to a global index in February. There is a much better chance of being added to the same index in May.</li>
<li>
<a href="https://www.smartkarma.com/entities/pls-group-limited" target="_blank" data-smartkarma-citation="entities:7460:1" rel="noopener">PLS Group (PLS AU)</a> was added to the S&amp;P/ASX 50 Index in March and that will result in passive global trackers needing to buy more of the real float.</li>
<li>Cumulative excess volume has increased in <a href="https://www.smartkarma.com/entities/pls-group-limited" target="_blank" data-smartkarma-citation="entities:7460:1" rel="noopener">PLS Group (PLS AU)</a>, but we see a similar trend in its peers that do not have any upcoming passive flows.</li>
</ul>



PLS Group (PLS AU) missed being added to a global index in February. There is a much better chance of being added to the same index in May.

PLS Group (PLS AU) was added to the S&amp;P/ASX 50 Index in March and that will result in passive global trackers needing to buy more of the real float.
Cumulative excess volume has increased in PLS Group (PLS AU), but we see a similar trend in its peers that do not have any upcoming passive flows.


PLS Group (PLS AU): High Probability of Global Index Inclusion in May

Jiaxin International Resources Investment / Index Rebalance

Jiaxin International Resources Investment (3858 HK)

Jiaxin International Resources Investment

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jiaxin-international-resources-investment-limited" target="_blank" data-smartkarma-citation="entities:45065:1" rel="noopener">Jiaxin International Resources Investment (3858 HK)</a> and <a href="https://www.smartkarma.com/entities/united-states-antimony-corp" target="_blank" data-smartkarma-citation="entities:38018:1" rel="noopener">United States Antimony (UAMY US)</a> will be added to the <a href="https://www.smartkarma.com/entities/vaneck-rare-earth-strategic-me" target="_blank" data-smartkarma-citation="entities:32320:1" rel="noopener">VanEck Rare Earth/Strategic Me (REMX US)</a> in March.</li>
<li>The constituent changes, listing switches, float changes and capping changes result in an estimated one-way turnover of 13.4% and in a round-trip trade of US$1.07bn.</li>
<li>AUM linked to the index continues to rise as both ETFs continue to take in assets. That increases the flow and impact on the index constituents.</li>
</ul>



Jiaxin International Resources Investment (3858 HK) and United States Antimony (UAMY US) will be added to the VanEck Rare Earth/Strategic Me (REMX US) in March.
The constituent changes, listing switches, float changes and capping changes result in an estimated one-way turnover of 13.4% and in a round-trip trade of US$1.07bn.
AUM linked to the index continues to rise as both ETFs continue to take in assets. That increases the flow and impact on the index constituents.


MV Global Rare Earth/​​​​​Strategic Metals Index Rebalance: 2 Adds & Other Changes; US$1.1bn Trade

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 2nd March, published ~9AM on the 6th March.</li>
<li>The largest industry net increase in the past week was into "Diversified Metals &amp; Mining"; the largest industry net decrease was out of "Healthcare Distributors". Net shorts increased A$4bn WoW.</li>
<li>Companies mentioned in this regular weekly report include: <a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">BHP Group (BHP AU)</a>, <a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a>, <a href="https://www.smartkarma.com/entities/flight-centre-travel-group-l" target="_blank" data-smartkarma-citation="entities:7537:1" rel="noopener">Flight Centre Travel (FLT AU)</a>, <a href="https://www.smartkarma.com/entities/telstra-corp-ltd" target="_blank" data-smartkarma-citation="entities:690:1" rel="noopener">Telstra Corp (TLS AU)</a>, and <a href="https://www.smartkarma.com/entities/boss-energy" target="_blank" data-smartkarma-citation="entities:4823:1" rel="noopener">Boss Energy (BOE AU)</a>.
</li>
</ul>


Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 2nd March, published ~9AM on the 6th March.
The largest industry net increase in the past week was into "Diversified Metals &amp; Mining"; the largest industry net decrease was out of "Healthcare Distributors". Net shorts increased A$4bn WoW.
Companies mentioned in this regular weekly report include: BHP Group (BHP AU), Sigma Healthcare (SIG AU), Flight Centre Travel (FLT AU), Telstra Corp (TLS AU), and Boss Energy (BOE AU).



Aussie Shorts (2 Mar 2026): BHP Group, Sigma Healthcare, Flight Centre Travel, Telstra, Boss Energy

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 ASX Stocks as of Feb 27th (reported today). The aggregated short interest was USD37.4bn.</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 Capricorn Metals, BHP, Electro Optic Systems, Insignia Financial, Transurban.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Feb 27th (reported today). The aggregated short interest was USD37.4bn.
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 Capricorn Metals, BHP, Electro Optic Systems, Insignia Financial, Transurban.


ASX Short Interest Weekly (Feb 27th): Capricorn Metals, BHP, Electro Optic Systems

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, a number of deals were launched at the end of the week.</li>
<li>On the placement front, there was a flurry of deals across the region, along with news of a possible large cross-shareholding unwind in <a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" data-smartkarma-citation="entities:73:1" rel="noopener">Toyota Motor (7203 JP).</a>
</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, a number of deals were launched at the end of the week.
On the placement front, there was a flurry of deals across the region, along with news of a possible large cross-shareholding unwind in Toyota Motor (7203 JP).



Aequitas ECM Weekly (2 March 2026)- Toyota Motors, Nintendo, IBIDEN, Estun, PayPay, CleanMax

Australia

Liontown Resources Ltd. explores for and mines base metals.

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Liontown Resources (LTR AU)

PLS Group (PLS AU): High Probability of Global Index Inclusion in May

PLS Group is a high probability global index inclusion in May. The stock price has jumped and shorts have been covering. Positioning is up in the...

Brian Freitas

MV Global Rare Earth/Strategic Metals Index Rebalance: 2 Adds & Other Changes; US$1.1bn Trade

There are 2 adds and 1 listing switch for the REMX in March. Estimated one-way turnover is 13.4% and the round-trip trade is US$1.07bn. There have...

Brian Freitas

Aussie Shorts (2 Mar 2026): BHP Group, Sigma Healthcare, Flight Centre Travel, Telstra, Boss Energy

Net shorts increased A$4bn WOW. Companies mentioned in this regulaor weekly report include: BHP (BHP AU), Sigma Healthcare (SIG AU), Flight Centre...

David Blennerhassett

ASX Short Interest Weekly (Feb 27th): Capricorn Metals, BHP, Electro Optic Systems

We analyzed ASX short interest report for the past week and highlight short interest changes in Capricorn Metals, BHP, Electro Optic Systems,...

Ke Yan, CFA, FRM

Aequitas ECM Weekly (2 March 2026)- Toyota Motors, Nintendo, IBIDEN, Estun, PayPay, CleanMax

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

PLS Group (PLS AU): High Probability of Global Index Inclusion in May

PLS Group is a high probability global index inclusion in May. The stock price has jumped and shorts have been covering. Positioning is up in the...

Brian Freitas

MV Global Rare Earth/​​​​​Strategic Metals Index Rebalance: 2 Adds & Other Changes; US$1.1bn Trade

There are 2 adds and 1 listing switch for the REMX in March. Estimated one-way turnover is 13.4% and the round-trip trade is US$1.07bn. There have...

Brian Freitas

Aussie Shorts (2 Mar 2026): BHP Group, Sigma Healthcare, Flight Centre Travel, Telstra, Boss Energy

Net shorts increased A$4bn WOW. Companies mentioned in this regulaor weekly report include: BHP (BHP AU), Sigma Healthcare (SIG AU), Flight Centre...

David Blennerhassett

ASX Short Interest Weekly (Feb 27th): Capricorn Metals, BHP, Electro Optic Systems

We analyzed ASX short interest report for the past week and highlight short interest changes in Capricorn Metals, BHP, Electro Optic Systems,...

Ke Yan, CFA, FRM

Aequitas ECM Weekly (2 March 2026)- Toyota Motors, Nintendo, IBIDEN, Estun, PayPay, CleanMax

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

MV Global Rare Earth/Strategic Metals Index Rebalance: 2 Adds & Other Changes; US$1.1bn Trade