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

Japfa Comfeed Indonesia / Index Rebalance

<ul>
<li>The review period for the LQ45 Index January rebalance ended 31 December. The changes should be announced the last week of January, becoming effective after the close on 31 January.</li>
<li>We highlight 4 potential inclusions and 4 potential exclusions for the index at the rebalance. The actual number of changes could be lower at 2-3 a side.</li>
<li>Nearly all stocks will have over 1x ADV to trade from passive trackers if they are added to or deleted from the index.</li>
</ul>


The review period for the LQ45 Index January rebalance ended 31 December. The changes should be announced the last week of January, becoming effective after the close on 31 January.
We highlight 4 potential inclusions and 4 potential exclusions for the index at the rebalance. The actual number of changes could be lower at 2-3 a side.
Nearly all stocks will have over 1x ADV to trade from passive trackers if they are added to or deleted from the index.


LQ45 Index Rebalance Preview (Jan 2025): Identifying Potential Index Changes

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Pertamina Geothermal, Pan Brothers, ABM Investama</li>
<li>
Market Comment: In the US, Q3/24 annualised GDP growth came in marginally below estimates at 2.8% q-o-q (2.9% e / 3.0% p).</li>
<li>The improvement was driven by stronger than expected personal consumption of 3.7% (3.3% e / 2.8% p), which contributed almost 2.5 ppts to the GDP increase. </li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Pertamina Geothermal, Pan Brothers, ABM Investama

Market Comment: In the US, Q3/24 annualised GDP growth came in marginally below estimates at 2.8% q-o-q (2.9% e / 3.0% p).
The improvement was driven by stronger than expected personal consumption of 3.7% (3.3% e / 2.8% p), which contributed almost 2.5 ppts to the GDP increase. 


Global Head of Research & Head of Europe, Lucror Analytics

Felix Fischer

Global Head of Research & Head of Europe

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
<ol>
<li><a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" rel="noopener">SK Hynix</a></li>
<li><a href="https://www.smartkarma.com/entities/adani-transmission-ltd" target="_blank" rel="noopener">Adani Transmission</a></li>
<li><a href="https://www.smartkarma.com/entities/adani-green-energy-ltd" target="_blank" rel="noopener">Adani Green Energy</a></li>
<li><a href="https://www.smartkarma.com/entities/cifi-holdings-group-co-ltd" target="_blank" rel="noopener">CIFI Holdings</a></li>
<li><a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" rel="noopener">Rakuten</a></li>
</ol>
and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:

SK Hynix
Adani Transmission
Adani Green Energy
CIFI Holdings
Rakuten

and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:<ol><li><a href='/entities/vedanta-resources-ltd' target='_blank' rel='noopener'>Vedanta Resources</a></li><li><a href='/entities/longfor-properties' target='_blank' rel='noopener'>Longfor Properties</a></li><li><a href='/entities/anton-oilfield-services-gp' target='_blank' rel='noopener'>Anton Oilfield</a></li><li><a href='/entities/adani-green-energy-ltd' target='_blank' rel='noopener'>Adani Green Energy</a></li><li><a href='/entities/reliance-industries-ltd' target='_blank' rel='noopener'>Reliance Industries</a></li></ol>and more...

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.In this Insight:Vedanta ResourcesLongfor PropertiesAnton OilfieldAdani Green EnergyReliance Industriesand more...

Event-Driven

<ul>
<li>There are 3 adds and 2 deletes for the <a href="https://www.smartkarma.com/entities/ishares-global-clean-energy-etf" target="_blank" data-smartkarma-citation="entities:32855:1" rel="noopener">iSharesGlobal Clean Energy ETF</a> while there are 2 adds and 2 deletes for the <a href="https://www.smartkarma.com/entities/ishares-global-water-ucits-etf-usd-dist" target="_blank" data-smartkarma-citation="entities:25600:1" rel="noopener">iShares Global Water UCITS ETF</a>.</li>
<li>With US$5bn benchmarked to the <a href="https://www.smartkarma.com/entities/ishares-global-clean-energy-etf" target="_blank" data-smartkarma-citation="entities:32855:1" rel="noopener">iSharesGlobal Clean Energy</a> and related ETFs, and US$3.5bn benchmarked to the <a href="https://www.smartkarma.com/entities/ishares-global-water-ucits-etf-usd-dist" target="_blank" data-smartkarma-citation="entities:25600:1" rel="noopener">iShares Global Water</a> and related ETFs, there is multiple days of ADV to trade.</li>
<li>We see a noticeable rise in cumulative excess volume over the last two trading sessions, so there will be positioning in the stocks. </li>
</ul>


There are 3 adds and 2 deletes for the iSharesGlobal Clean Energy ETF while there are 2 adds and 2 deletes for the iShares Global Water UCITS ETF.
With US$5bn benchmarked to the iSharesGlobal Clean Energy and related ETFs, and US$3.5bn benchmarked to the iShares Global Water and related ETFs, there is multiple days of ADV to trade.
We see a noticeable rise in cumulative excess volume over the last two trading sessions, so there will be positioning in the stocks. 


Clean Energy & Global Water ETFs: Changes for Asia & Impact

Indonesia

PT Pertamina Geothermal Energy is a green energy company. The Company offers geothermal generation services. Pertamina Geothermal Energy serves clients in Indonesia.

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Pertamina Geothermal Energy PT (PGEO IJ)

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We have identified potential changes for the LQ45 Index in January. The potential adds have been outperforming the deletes. Historically, adds and...

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In today's Morning Views publication we comment on developments of the following high yield issuers: Pertamina Geothermal, Pan Brothers, ABM Investama

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Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and...

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There are 3 adds and 2 deletes for the iSharesGlobal Clean Energy ETF while there are 2 adds and 2 deletes for the iShares Global Water UCITS ETF....

Brian Freitas

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52-week Range

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