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>Masan Consumer Corp (MCH VN), VPS Securities (VCK VN) and VPBank Securities (VPX VN) will be added to the MarketVector Vietnam Local Index at the close on 20 March.</li>
<li>Estimated one-way turnover is 10.55% and that results in a round-trip trade of US$121m. There are a few stocks with more than 1x ADV to buy from passives.</li>
<li>There is a high probability of Vietnam stocks being added to a global index starting from the September rebalance and the market could outperform its regional peers.</li>
</ul>


Masan Consumer Corp (MCH VN), VPS Securities (VCK VN) and VPBank Securities (VPX VN) will be added to the MarketVector Vietnam Local Index at the close on 20 March.
Estimated one-way turnover is 10.55% and that results in a round-trip trade of US$121m. There are a few stocks with more than 1x ADV to buy from passives.
There is a high probability of Vietnam stocks being added to a global index starting from the September rebalance and the market could outperform its regional peers.


MarketVector Vietnam Local Index Rebalance: 3 Adds; 10.6% Turnover; US$120m Trade

<ul>
<li>
<a href="https://www.smartkarma.com/entities/fpt-corp" target="_blank" data-smartkarma-citation="entities:4290:1" rel="noopener">FPT Corp,</a><a href="https://www.smartkarma.com/entities/vietnam-airlines-jsc" target="_blank" data-smartkarma-citation="entities:24134:1" rel="noopener">Vietnam Airlines Jsc</a>, <a href="https://www.smartkarma.com/entities/saigon-thuong-tin-commercial-joint-stock-bank-sacombank" target="_blank" data-smartkarma-citation="entities:650:1" rel="noopener">Sacombank</a> and Gelex Electricity Jsc will be added to the MarketVector Vietnam Local Index at the close on 19 September.</li>
<li>Estimated one-way turnover is 9.5% and that results in a round-trip trade of US$112m. There are a couple of stocks with more than 1x ADV to buy from passives.</li>
<li>The largest passive inflow will be in <a href="https://www.smartkarma.com/entities/masan-group-corp" target="_blank" data-smartkarma-citation="entities:23075:1" rel="noopener">Masan Group (MSN VN)</a> following a large increase in the free float for the stock.</li>
</ul>



FPT Corp,Vietnam Airlines Jsc, Sacombank and Gelex Electricity Jsc will be added to the MarketVector Vietnam Local Index at the close on 19 September.
Estimated one-way turnover is 9.5% and that results in a round-trip trade of US$112m. There are a couple of stocks with more than 1x ADV to buy from passives.
The largest passive inflow will be in Masan Group (MSN VN) following a large increase in the free float for the stock.


MarketVector Vietnam Local Index Rebalance: 4 Adds; 9.5% Turnover; US$112m Trade

<ul>
<li>
<a href="https://www.smartkarma.com/entities/baf-vietnam-agriculture-joint-stock-company" target="_blank" data-smartkarma-citation="entities:45291" rel="noopener">BAF Vietnam Agriculture (BAF VN)</a> will be added to the MarketVector Vietnam Local Index at the close on 20 June.</li>
<li>Estimated one-way turnover is 9% and that results in a round-trip trade of US$74m. There are 5 stocks with more than 1x ADV to trade from passives.</li>
<li>
<a href="https://www.smartkarma.com/entities/vingroup-jsc" target="_blank" data-smartkarma-citation="entities:13213:1" rel="noopener">Vingroup Jsc (VIC VN)</a> and <a href="https://www.smartkarma.com/entities/vinhomes-jsc" target="_blank" data-smartkarma-citation="entities:27079:1" rel="noopener">Vinhomes (VHM VN)</a> stock prices have soared over the last few months and capping results in selling at this rebalance.</li>
</ul>



BAF Vietnam Agriculture (BAF VN) will be added to the MarketVector Vietnam Local Index at the close on 20 June.
Estimated one-way turnover is 9% and that results in a round-trip trade of US$74m. There are 5 stocks with more than 1x ADV to trade from passives.

Vingroup Jsc (VIC VN) and Vinhomes (VHM VN) stock prices have soared over the last few months and capping results in selling at this rebalance.


MarketVector Vietnam Local Index Rebalance: One Add, Capping & Float Changes

<ul>
<li>Nam A Commercial Joint Stock Bank (NAB VN) will be added to the MarketVector Vietnam Local Index at the close on 21 March.</li>
<li>Estimated one-way turnover is 3.1% and that results in a round-trip trade of US$26m. There are 3 stocks with more than 1x ADV to trade from passives.</li>
<li>Vietnam is on the watchlist of a global index provider for possible reclassification from Frontier to Secondary Emerging Market and that could lead to inflows to the stocks.</li>
</ul>


Nam A Commercial Joint Stock Bank (NAB VN) will be added to the MarketVector Vietnam Local Index at the close on 21 March.
Estimated one-way turnover is 3.1% and that results in a round-trip trade of US$26m. There are 3 stocks with more than 1x ADV to trade from passives.
Vietnam is on the watchlist of a global index provider for possible reclassification from Frontier to Secondary Emerging Market and that could lead to inflows to the stocks.


<ul>
<li>Sai Gon VRG Investment Corporation (SIP VN) will be added to the MarketVector Vietnam Local Index at the close on 20 December.</li>
<li>Estimated one-way turnover is 5.1% and that results in a one-way trade of US$23m. There are a few stocks with more than 1x ADV to buy from passives.</li>
<li>The largest passive inflows will be in <a href="https://www.smartkarma.com/entities/vix-securities-joint-stock-company" target="_blank" data-smartkarma-citation="entities:35885:1" rel="noopener">VIX Securities (VIX VN)</a>, <a href="https://www.smartkarma.com/entities/vietnam-dairy-products-jsc" target="_blank" data-smartkarma-citation="entities:19635:1" rel="noopener">Vietnam Dairy Products JSC (VNM VN)</a>, <a href="https://www.smartkarma.com/entities/hoa-phat-group-jsc" target="_blank" data-smartkarma-citation="entities:5813:1" rel="noopener">Hoa Phat Group Jsc (HPG VN)</a> and <a href="https://www.smartkarma.com/entities/jsc-bank-for-foreign-trade-of-vietnam-vietcombank" target="_blank" data-smartkarma-citation="entities:23054:1" rel="noopener">Vietcombank (VCB VN)</a>. </li>
</ul>


Sai Gon VRG Investment Corporation (SIP VN) will be added to the MarketVector Vietnam Local Index at the close on 20 December.
Estimated one-way turnover is 5.1% and that results in a one-way trade of US$23m. There are a few stocks with more than 1x ADV to buy from passives.
The largest passive inflows will be in VIX Securities (VIX VN), Vietnam Dairy Products JSC (VNM VN), Hoa Phat Group Jsc (HPG VN) and Vietcombank (VCB VN). 


MarketVector Vietnam Local Index Rebalance: One Add, Float & Capping Changes

Vietnam

Market Vectors Vietnam ETF is an exchange traded fund incorporated in the USA. The Fund's objective is to replicate as closely as possible the price and yield performance of the Market Vectors Vietnam Index. The Fund invests at least 80% of its total assets in securities that comprise the Fund's benchmark index.

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Market Vectors Vietnam ETF (VNM US)

MarketVector Vietnam Local Index Rebalance: 3 Adds; 10.6% Turnover; US$120m Trade

There are 3 adds for the index in March. Estimated one-way turnover is 10.55% and that results in a round-trip trade of US$121m. Vietnam stocks...

Brian Freitas

MarketVector Vietnam Local Index Rebalance: 4 Adds; 9.5% Turnover; US$112m Trade

FPT Group, Vietnam Airlines, Sacombank, Gelex Electricity will be added to the index. Big float increase for Gelex Elec. Estimated one-way turnover...

Brian Freitas

MarketVector Vietnam Local Index Rebalance: One Add, Capping & Float Changes

One add and large capping changes result in one-way turnover of 9% and a round-trip trade of US$74m. Vingroup and Vinhomes stock prices have soared...

Brian Freitas

MarketVector Vietnam Local Index Rebalance: One Add, Capping & Float Changes

Nam A Commercial JSB is an add and there are capping and float changes. Vietnam could move from Frontier to Secondary Emerging Market in a global...

Brian Freitas

MarketVector Vietnam Local Index Rebalance: One Add, Float & Capping Changes

Saigon Vrg Investment will be added to the index at the close 20 December. Estimated one-way turnover is 5.1% and that results in a one-way trade...

Brian Freitas

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