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>CSI announced the changes for the June rebalance after market close on 30 May and the changes will be effective after the close of trading on 13 June.</li>
<li>There are 6 changes for the index and we estimate passive buying of 0.7-2.4x ADV in the adds and passive selling of between 1-4.7x ADV in the deletes.</li>
<li>There will be capping inflows for <a href="https://www.smartkarma.com/entities/shenzhen-mindray-bio-medic-a" target="_blank" data-smartkarma-citation="entities:28017:1" rel="noopener">Shenzhen Mindray Bio-Medical Electronics (300760 CH)</a> and capping outflows for <a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd" target="_blank" data-smartkarma-citation="entities:27092:1" rel="noopener">WuXi AppTec (603259 CH)</a>. </li>
</ul>


CSI announced the changes for the June rebalance after market close on 30 May and the changes will be effective after the close of trading on 13 June.
There are 6 changes for the index and we estimate passive buying of 0.7-2.4x ADV in the adds and passive selling of between 1-4.7x ADV in the deletes.
There will be capping inflows for Shenzhen Mindray Bio-Medical Electronics (300760 CH) and capping outflows for WuXi AppTec (603259 CH). 


CSI Medical Service Index Rebalance: Six Changes with Decent Impact

Shanghai Runda Medical Tec-A / Index Rebalance

<ul>
<li>The review period ended on 30 April, the changes should be announced on 30 May and will be effective after the close of trading on 13 June.</li>
<li>There could be 5 changes in June where passive trackers will need to trade between 0.7-2x ADV in the forecast adds and sell between 1-4x ADV in the forecast deletes.</li>
<li>A long adds/ short deletes trade has gone nowhere in the last 6-7 months, and the volatility of the trade has reduced even further in the last couple of months.</li>
</ul>


The review period ended on 30 April, the changes should be announced on 30 May and will be effective after the close of trading on 13 June.
There could be 5 changes in June where passive trackers will need to trade between 0.7-2x ADV in the forecast adds and sell between 1-4x ADV in the forecast deletes.
A long adds/ short deletes trade has gone nowhere in the last 6-7 months, and the volatility of the trade has reduced even further in the last couple of months.


CSI Medical Service Index Rebalance Preview: Five Changes as Trade Flatlines

Vcanbio Cell & Gene Engineering / Index Rebalance

<ul>
<li>The review period ends on 30 April, the changes should be announced on 30 May and will be effective after the close of trading on 13 June.</li>
<li>We forecast 5 potential changes for the index in June where there could be buying of 0.5-2x ADV in the adds and selling of between 0.7-3.8x ADV in the deletes.</li>
<li>The forecast adds and deletes have performed in line over the last few months and there could be outperformance as we near the end of the review period and announcement.</li>
</ul>


The review period ends on 30 April, the changes should be announced on 30 May and will be effective after the close of trading on 13 June.
We forecast 5 potential changes for the index in June where there could be buying of 0.5-2x ADV in the adds and selling of between 0.7-3.8x ADV in the deletes.
The forecast adds and deletes have performed in line over the last few months and there could be outperformance as we near the end of the review period and announcement.


CSI Medical Service Index Rebalance Preview: Five Potential Changes in June

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The December 2024 index review results for the CSI Medical Service Index were announced after market close on Friday 29th November 2024.</li>
<li>There will be 3 changes for the CSI Medical Service index.</li>
<li>We predicted all the changes correctly but we expected a couple of extra changes which did not materialize.</li>
</ul>


The December 2024 index review results for the CSI Medical Service Index were announced after market close on Friday 29th November 2024.
There will be 3 changes for the CSI Medical Service index.
We predicted all the changes correctly but we expected a couple of extra changes which did not materialize.


Quiddity CSI Medical Dec 24 Results: 3 Changes; All Expected; US$362mn One-Way

Inner Mongolia Furui Medical Scie / Index Rebalance

<ul>
<li>CSI announced the changes for the December rebalance after market close on 29 November and the changes will be effective after the close of trading on 13 December.</li>
<li>There are 3 changes for the index and we estimate passive buying of 0.7-1.4x ADV in the adds and selling of between 0.2-1x ADV in the deletes.</li>
<li>Trade performance has been horrible as the adds have moved sideways over the last two months and the deletes have skyrocketed - that could change in the next two weeks.</li>
</ul>


CSI announced the changes for the December rebalance after market close on 29 November and the changes will be effective after the close of trading on 13 December.
There are 3 changes for the index and we estimate passive buying of 0.7-1.4x ADV in the adds and selling of between 0.2-1x ADV in the deletes.
Trade performance has been horrible as the adds have moved sideways over the last two months and the deletes have skyrocketed - that could change in the next two weeks.


CSI Medical Service Index Rebalance: Three Changes; Brutal Underperformance Could Reverse

China

Porton Pharma Solutions Ltd. is a China-based custom manufacturing services provider(CMO), serving the global pharmaceutical industry with custom and contract chemical development and manufacturing services from preclinical development to commercial supply.

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Porton Pharma Solutions (300363 CH)

CSI Medical Service Index Rebalance: Six Changes with Decent Impact

There are 6 changes for the index with estimated passive buying of 0.7-2.4x ADV in the adds and passive selling of between 1-4.7x ADV in the...

Brian Freitas

CSI Medical Service Index Rebalance Preview: Five Changes as Trade Flatlines

There could be 5 changes in June with passives trading between 0.7-4x ADV in the stocks. A long adds/ short deletes trade has gone nowhere in the...

Brian Freitas

CSI Medical Service Index Rebalance Preview: Five Potential Changes in June

There could be 5 changes for the index in June. Passives need to buy 0.5-2x ADV in the forecast adds and sell between 0.7-3.8x ADV in the forecast...

Brian Freitas

Quiddity CSI Medical Dec 24 Results: 3 Changes; All Expected; US$362mn One-Way

We estimate one-way flow to be US$362mn. The Inclusion/Exclusion events will take place at the close of trading on 13th December 2024.

Janaghan Jeyakumar, CFA

CSI Medical Service Index Rebalance: Three Changes; Brutal Underperformance Could Reverse

There are 3 changes for the index in December. The adds have underperformed the deletes over the last 2 months. Going by historical performance,...

Brian Freitas

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