Quantitative Equity Analyst, DMA

Charlotte van Tiddens, CFA

Quantitative Equity Analyst

Technology-First Company

DMA is a technology-first company that provides an end-to-end SaaS solution to institutional investors. DMA enables regulated entities like asset managers, wealth managers, investment managers and financial advisors to connect their front and back office, break silos and reduce headcount.

Index Rebalance

Northam Platinum Holdings  / Index Rebalance

<ul><li>JSE indices are due for rebalancing in the closing auction tomorrow.                              </li><li>NPH will enter the Top 40, with GLN falling out. </li><li>GLN will also fall out of the RESI 10, with NPH entering.</li></ul>

JSE indices are due for rebalancing in the closing auction tomorrow.                              NPH will enter the Top 40, with GLN falling out. GLN will also fall out of the RESI 10, with NPH entering.

FTSE/JSE June 2025 Rebalance: GLN to Fall Out of Top 40, NPH to Enter

Event-Driven

Northam Platinum Holdings  / Event-Driven

<ul>
<li>The annual WisdomTree rebalance takes place next week Wednesday in the closing auction. Turnover on the JSE at the rebalance last year (20 Oct) was R30.6bn, 1.5 times the 5-day average.</li>
<li>
<p>There are several SA stocks being added to and deleted from the range of WisdomTree EM funds.</p>
</li>
<li>
<p>Our buy flow estimate for SA additions is R1.3bn, our sell flow estimate for SA deletions is R1.8bn. This excludes up and down weightings.</p>
</li>
</ul>


The annual WisdomTree rebalance takes place next week Wednesday in the closing auction. Turnover on the JSE at the rebalance last year (20 Oct) was R30.6bn, 1.5 times the 5-day average.

There are several SA stocks being added to and deleted from the range of WisdomTree EM funds.


Our buy flow estimate for SA additions is R1.3bn, our sell flow estimate for SA deletions is R1.8bn. This excludes up and down weightings.



WisdomTree Oct 2023 Rebalance (Wed, 18 Oct)

<ul><li>Tencent is due to release Q1 FY24 results today. The earnings call is scheduled for 14:00 SAST</li><li>In this note, we unpack what is priced and how Tencent has performed relative to constituents in the HSTECH index since our last update (29 April).</li><li>We also provide an update on how the discounts of Naspers and Prosus have traded.</li></ul>

Tencent is due to release Q1 FY24 results today. The earnings call is scheduled for 14:00 SASTIn this note, we unpack what is priced and how Tencent has performed relative to constituents in the HSTECH index since our last update (29 April).We also provide an update on how the discounts of Naspers and Prosus have traded.

Tencent Q1 FY24 Results Due, a Look into What Is Priced

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

Sunwoda Electronic Co Ltd A / Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>Market dynamics remain overwhelmingly risk-on; with plenty of global liquidity, we expect upside to continue into year-end and the early part of 2026.</li>
<li>Remain Overweight Taiwan, China, Korea, U.S., and Greece. Many buys in these countries, and also Europe and Japan. EURO STOXX 50 on the cusp of major breakout above 5500</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
Market dynamics remain overwhelmingly risk-on; with plenty of global liquidity, we expect upside to continue into year-end and the early part of 2026.
Remain Overweight Taiwan, China, Korea, U.S., and Greece. Many buys in these countries, and also Europe and Japan. EURO STOXX 50 on the cusp of major breakout above 5500


Buys Focused in China, Taiwan, and Korea; Bullish Outlook Intact

South Africa

Northam Platinum Holdings Limited operates as a holding company. The Company, through its subsidiaries, explores, mines, and produces platinum, palladium, and rhodium metals. Northam Platinum Holdings serves customers worldwide.

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Northam Platinum Holdings (NPH SJ)

FTSE/JSE June 2025 Rebalance: GLN to Fall Out of Top 40, NPH to Enter

NPN & PRX top sells as shares in issue fall. BTI, CFR & AGL scrip moves offshore. JSE indices are due for rebalancing in the closing auction tomorrow.

DMA

WisdomTree Oct 2023 Rebalance (Wed, 18 Oct)

The annual WisdomTree rebalance takes place next week Wednesday in the closing auction. Turnover on the JSE at the rebalance last year (20 Oct) was...

DMA

Tencent Q1 FY24 Results Due, a Look into What Is Priced

Tencent is due to release Q1 FY24 results today. The earnings call is scheduled for 14:00 SAST. In this note, we unpack what is priced and how...

DMA

Buys Focused in China, Taiwan, and Korea; Bullish Outlook Intact

Buys Focused in China, Taiwan, and Korea; Bullish Outlook Intact. Actionable Themes: Communications, Manufacturing (Robotics and Batteries),...

Vermilion Research

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