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>There are no constituent changes for the <a href="https://www.smartkarma.com/entities/vaneck-vectors-semiconductor" target="_blank" data-smartkarma-citation="entities:32807:1" rel="noopener">VanEck Vectors Semiconductor (SMH US)</a> ETF in June but there are a lot of float and capping changes.</li>
<li>Estimated one-way turnover is 8.65% resulting in a round-trip trade of US$12.5bn. There are 4 stocks with over a yard and a half to trade.</li>
<li>The largest flows will be in <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a>, <a href="https://www.smartkarma.com/entities/intel-corp" target="_blank" data-smartkarma-citation="entities:16764:1" rel="noopener">Intel Corp (INTC US)</a>, <a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron Technology (MU US)</a>, <a href="https://www.smartkarma.com/entities/advanced-micro-devices-inc" target="_blank" data-smartkarma-citation="entities:19009:1" rel="noopener">Advanced Micro Devices (AMD US)</a> and <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-adr" target="_blank" data-smartkarma-citation="entities:8587:1" rel="noopener">TSMC - ADR (TSM US)</a>. </li>
</ul>


There are no constituent changes for the VanEck Vectors Semiconductor (SMH US) ETF in June but there are a lot of float and capping changes.
Estimated one-way turnover is 8.65% resulting in a round-trip trade of US$12.5bn. There are 4 stocks with over a yard and a half to trade.
The largest flows will be in NVIDIA Corp (NVDA US), Intel Corp (INTC US), Micron Technology (MU US), Advanced Micro Devices (AMD US) and TSMC - ADR (TSM US). 


MV US Listed Semiconductor 25 Index Rebalance: Capping Leads to US$12.5bn Trade

Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The ADDs/DELs for SP500, SP MidCap400, and SP SmallCap600 indices for the June 2026 index rebal event were announced after market close on Friday 5 June 2026.</li>
<li>There are 2 ADD/DELs for the SP 500, all of which will also be added to and deleted from the SP 500 Equal Weight and their corresponding Select Sector indices.</li>
<li>In this insight, we take a look at our final flow expectations for each of these confirmed index changes. We see over $52bn of flows, one-way.</li>
</ul>


The ADDs/DELs for SP500, SP MidCap400, and SP SmallCap600 indices for the June 2026 index rebal event were announced after market close on Friday 5 June 2026.
There are 2 ADD/DELs for the SP 500, all of which will also be added to and deleted from the SP 500 Equal Weight and their corresponding Select Sector indices.
In this insight, we take a look at our final flow expectations for each of these confirmed index changes. We see over $52bn of flows, one-way.


Quiddity SP 500 Jun26 Results: 100% Hit Rate On ADDs; Over US$52bn Combined One-Way Flow

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>COMPUTEX and GTC Taipei drove TSMC and the TAIEX to records, before a US$1.3tn AI selloff in the U.S. sent Taiwan index futures down a record 6.65%.</li>
<li>The trigger was expectations, not fundamentals: Broadcom beat but held rather than raised its long-term AI target, and a hot US jobs report killed Fed rate-cut hopes.</li>
<li>Yet demand kept accelerating through the rout: Winbond, Foxconn and Aspeed posted record sales, and Apollo and Blackstone closed US$35bn to buy AI chips for Anthropic.</li>
</ul>


COMPUTEX and GTC Taipei drove TSMC and the TAIEX to records, before a US$1.3tn AI selloff in the U.S. sent Taiwan index futures down a record 6.65%.
The trigger was expectations, not fundamentals: Broadcom beat but held rather than raised its long-term AI target, and a hot US jobs report killed Fed rate-cut hopes.
Yet demand kept accelerating through the rout: Winbond, Foxconn and Aspeed posted record sales, and Apollo and Blackstone closed US$35bn to buy AI chips for Anthropic.


Taiwan Tech Weekly: COMPUTEX Drives TSMC to Records, Then a US$1.3tn AI Selloff

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>Massive AI Revenue Growth: Total revenue reached a record $22.2 billion, up 48% year-on-year, driven by insatiable demand for AI semiconductors which hit a record $10.8 billion.</li>
<li>Long-Term Customer Commitments: Broadcom secured major AI compute and XPU partnerships with Google, Meta, OpenAI, and Anthropic, firmly underpinning their guidance of over $100 billion AI revenue for fiscal 2027.</li>
<li>The AI XPU Platform Launch: Broadcom is partnering with Apollo and Blackstone to deploy a 20-gigawatt AI platform through 2028, with Apollo currently launching the first $35 billion tranche.</li>
</ul>


Massive AI Revenue Growth: Total revenue reached a record $22.2 billion, up 48% year-on-year, driven by insatiable demand for AI semiconductors which hit a record $10.8 billion.
Long-Term Customer Commitments: Broadcom secured major AI compute and XPU partnerships with Google, Meta, OpenAI, and Anthropic, firmly underpinning their guidance of over $100 billion AI revenue for fiscal 2027.
The AI XPU Platform Launch: Broadcom is partnering with Apollo and Blackstone to deploy a 20-gigawatt AI platform through 2028, with Apollo currently launching the first $35 billion tranche.


Broadcom Q2 FY2026. The $100 Billion AI Trajectory Remains On Track.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>The S&amp;P 500 continues its march higher, however the troops have been unable to keep up with the generals and with this is an ounce of concern. Sending the generals into battle often ends up with no more leaders. Our view of the markets is to deploy a barbell approach of growth and safety. While growth continues to outperform, it does so without the small-caps. Meanwhile utilities and staples continue to march just behind the growth areas of the market, and have been unable to reach new RS highs since the December decline. In this report we detail our investment thesis and outlook for U.S. equities, highlighting our favorite sectors and bottoms up ideas.</p>

The S&amp;P 500 continues its march higher, however the troops have been unable to keep up with the generals and with this is an ounce of concern. Sending the generals into battle often ends up with no more leaders. Our view of the markets is to deploy a barbell approach of growth and safety. While growth continues to outperform, it does so without the small-caps. Meanwhile utilities and staples continue to march just behind the growth areas of the market, and have been unable to reach new RS highs since the December decline. In this report we detail our investment thesis and outlook for U.S. equities, highlighting our favorite sectors and bottoms up ideas.

U.S. Equity Strategy: Growth And Safety Are The Plays To Stay With

United States

Marvell Technology, Inc. develops and produces semiconductors and related technology. The Company offers security and networking platform, secure data processing, networking, and storage solutions. Marvell Technology serves customers worldwide.

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Marvell Technology (MRVL US)

MV US Listed Semiconductor 25 Index Rebalance: Capping Leads to US$12.5bn Trade

There are no constituent changes for the index in June but there are float and capping changes. Estimated one-way turnover is 8.65% resulting in a...

Brian Freitas

Quiddity SP 500 Jun26 Results: 100% Hit Rate On ADDs; Over US$52bn Combined One-Way Flow

100% hit rate on our June 2026 SP 500 ADDs. Over US$52bn in combined one way flows across the SP 500 family for the June index rebalance, plus a...

Anjana Amarasuriya

Taiwan Tech Weekly: COMPUTEX Drives TSMC to Records, Then a US$1.3tn AI Selloff

COMPUTEX and GTC Taipei drove TSMC & TAIEX to records, but a US$1.3tn U.S. AI selloff caused Taiwan index futures to drop 6.65%. Nevertheless,...

Vincent Fernando, CFA

Broadcom Q2 FY2026. The $100 Billion AI Trajectory Remains On Track.

The AI XPU Platform Launch: Broadcom is partnering with Apollo and Blackstone to deploy a 20-gigawatt AI platform through 2028, with Apollo...

William Keating

U.S. Equity Strategy: Growth And Safety Are The Plays To Stay With

The S&P 500 continues its march higher, however the troops have been unable to keep up with the generals and with this is an ounce of concern....

Vermilion Research

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52-week Range

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P/E

Dividend (Yield)

MV US Listed Semiconductor 25 Index Rebalance: Capping Leads to US$12.5bn Trade

There are no constituent changes for the index in June but there are float and capping changes. Estimated one-way turnover is 8.65% resulting in a...

Brian Freitas

Quiddity SP 500 Jun26 Results: 100% Hit Rate On ADDs; Over US$52bn Combined One-Way Flow

100% hit rate on our June 2026 SP 500 ADDs. Over US$52bn in combined one way flows across the SP 500 family for the June index rebalance, plus a...

Anjana Amarasuriya

Taiwan Tech Weekly: COMPUTEX Drives TSMC to Records, Then a US$1.3tn AI Selloff

​COMPUTEX and GTC Taipei drove TSMC & TAIEX to records, but a US$1.3tn U.S. AI selloff caused Taiwan index futures to drop 6.65%. Nevertheless,...

Vincent Fernando, CFA

Broadcom Q2 FY2026. The $100 Billion AI Trajectory Remains On Track.

The AI XPU Platform Launch: Broadcom is partnering with Apollo and Blackstone to deploy a 20-gigawatt AI platform through 2028, with Apollo...

William Keating

U.S. Equity Strategy: Growth And Safety Are The Plays To Stay With

The S&P 500 continues its march higher, however the troops have been unable to keep up with the generals and with this is an ounce of concern....

Vermilion Research

COMPUTEX and GTC Taipei drove TSMC & TAIEX to records, but a US$1.3tn U.S. AI selloff caused Taiwan index futures to drop 6.65%. Nevertheless,...