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>Based on prices and turnover from 16 January, there could be four additions for the index in January. Plus there will be capping and float changes.</li>
<li>Estimated one-way turnover is 2.9% resulting in a round-trip trade of US$420m. There are many stocks with multiple days of ADV to trade.</li>
<li>The index is up 108% over the last year and there have been large creations in <a href="https://www.smartkarma.com/entities/global-x-uranium-etf" target="_blank" data-smartkarma-citation="entities:32107:1" rel="noopener">Global X Uranium ETF (URA US)</a> over the last 9 months.</li>
</ul>


Based on prices and turnover from 16 January, there could be four additions for the index in January. Plus there will be capping and float changes.
Estimated one-way turnover is 2.9% resulting in a round-trip trade of US$420m. There are many stocks with multiple days of ADV to trade.
The index is up 108% over the last year and there have been large creations in Global X Uranium ETF (URA US) over the last 9 months.


Solactive Global Uranium & Nuclear Components Index Rebalance Preview: Four Potential Adds + Capping

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
  <li>
<a href="https://smartkarma.com/entities/nuscale-power-corp">NuScale Power </a>is a pioneering company in the small modular reactor (SMR) space, possessing the first and only SMR technology to have its designs certified by the U.S. Nuclear Regulatory Commission (NRC).</li>
  <li>The company is currently in a pre-revenue stage, focusing on the commercialization of its SMR technology. Its business model is centered on design, licensing, and providing engineering services for its proprietary <a href="https://smartkarma.com/entities/nuscale-power-corp">NuScale Power </a>Module (NPM).</li>
  <li>Significant execution risks and financial uncertainties cloud the company's outlook, including the lack of a completed commercial sale, ongoing cash burn, and recent legal challenges.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
NuScale Power is a pioneering company in the small modular reactor (SMR) space, possessing the first and only SMR technology to have its designs certified by the U.S. Nuclear Regulatory Commission (NRC).
  The company is currently in a pre-revenue stage, focusing on the commercialization of its SMR technology. Its business model is centered on design, licensing, and providing engineering services for its proprietary NuScale Power Module (NPM).
  Significant execution risks and financial uncertainties cloud the company's outlook, including the lack of a completed commercial sale, ongoing cash burn, and recent legal challenges.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: NuScale Power  (SMR US) - Apr 2026

Equity & Credit Research

Duncan Chan

Thematic (Sector/Industry)

<ul>
<li>Kazakhstan remains the world’s largest uranium producer, accounting for roughly 39–40% of global mine supply in recent years, while Russia continues to retain meaningful influence in enrichment capacity.</li>
<li>Utilities resumed long-duration uranium contracting during 2025–2026 despite elevated prices near US$80–100/lb, suggesting fuel diversification and procurement stability increasingly outweigh pure short-term cost optimisation.</li>
<li>Governments and utilities increasingly appear willing to tolerate higher fuel and infrastructure costs in exchange for stable electricity, diversified fuel access and long-duration energy reliability.</li>
</ul>


Kazakhstan remains the world’s largest uranium producer, accounting for roughly 39–40% of global mine supply in recent years, while Russia continues to retain meaningful influence in enrichment capacity.
Utilities resumed long-duration uranium contracting during 2025–2026 despite elevated prices near US$80–100/lb, suggesting fuel diversification and procurement stability increasingly outweigh pure short-term cost optimisation.
Governments and utilities increasingly appear willing to tolerate higher fuel and infrastructure costs in exchange for stable electricity, diversified fuel access and long-duration energy reliability.


Uranium: Fuel Security Is Starting To Matter More Than Cost

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

<ul>
<li>We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.</li>
<li>Speculative Growth Themes Still Leading; Nuclear Stocks are Going... Nuclear. We highlight many speculative stocks to buy that we believe will continue to outperform into year-end</li>
<li>Software (IGV), semiconductors (XSD), (IPO), ARK (ARKK and ARKW), uranium (URA), hydrogen (HYDR), quantum computing (IONQ, RGTI, QUBT, QBTS), A.I., nuclear, robotics, drones, autonomous driving, EV batteries, energy storage,bitcoin,data centers</li>
</ul>


We remain bullish since our 4/22/25 Compass, and we will maintain our bullish outlook as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 6028-6059.
Speculative Growth Themes Still Leading; Nuclear Stocks are Going... Nuclear. We highlight many speculative stocks to buy that we believe will continue to outperform into year-end
Software (IGV), semiconductors (XSD), (IPO), ARK (ARKK and ARKW), uranium (URA), hydrogen (HYDR), quantum computing (IONQ, RGTI, QUBT, QBTS), A.I., nuclear, robotics, drones, autonomous driving, EV batteries, energy storage,bitcoin,data centers


Going Nuclear $LTBR $LEU $NNE $OKLO $SMR; Russell 2000 Breakout to All-Time Highs; Still Bullish

TSMC (Taiwan Semiconductor Manufacturing) / Technical Analysis

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<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).</li>
<li>We will maintain our bullish view as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 5700-5785 (up from 5500).</li>
<li>We continue to be buyers in the 5700-5785 range, and we would also be buyers at 5804-5854 gap support. We are expecting all-time highs soon on SPX.</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).
We will maintain our bullish view as long as market dynamics remain healthy and the S&amp;P 500 (SPX) is above 5700-5785 (up from 5500).
We continue to be buyers in the 5700-5785 range, and we would also be buyers at 5804-5854 gap support. We are expecting all-time highs soon on SPX.


Semiconductors and Technology Leading the Way; IWM Holding Above $209; Still Firmly Bullish

United States

NuScale Power Corporation operates as a small modular reactor (SMR) technology company. The Company provides scalable advanced nuclear technology for the production of electricity, heat, and clean water. NuScale Power serves customers worldwide.

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NuScale Power (SMR US)

Solactive Global Uranium & Nuclear Components Index Rebalance Preview: Four Potential Adds + Capping

We highlight 4 potential inclusions for the index in January. Estimated one-way turnover is 2.9% resulting in a round-trip trade of US$420m. There...

Brian Freitas

Primer: NuScale Power (SMR US) - Apr 2026

NuScale Power is a pioneering company in the small modular reactor (SMR) space, possessing the first and only SMR technology to have its...

αSK Primers

Uranium: Fuel Security Is Starting To Matter More Than Cost

Re-sharing as recent energy security and power reliability discussions continue to support the view that fuel security may increasingly matter more...

Duncan Chan

Going Nuclear $LTBR $LEU $NNE $OKLO $SMR; Russell 2000 Breakout to All-Time Highs; Still Bullish

Going Nuclear $LTBR $LEU $OKLO $NNE $LEU; Russell 2000 Breakout to All-Time Highs; Still Bullish; Continue to Overweight Spec Growth Themes into...

Vermilion Research

Semiconductors and Technology Leading the Way; IWM Holding Above $209; Still Firmly Bullish

Semiconductors and Technology Leading the Way; IWM Holding Above $209; Still Firmly Bullish and Risk-On. $SMH $SOXX $TSM $NVDA $ARM $MU $KLAC $LRCX...

Vermilion Research

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