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>Nearing the end of the review period, there could be 36 adds/deletes across the S&amp;P/ASX family of indices in March.</li>
<li>Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200</a> and S&amp;P/ASX 300.</li>
<li>Completion of the merger with Chemist Warehouse in February will set off huge passive buying in <a href="https://www.smartkarma.com/entities/sigma-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:15966:1" rel="noopener">Sigma Healthcare (SIG AU)</a> over the February to June period.</li>
</ul>


Nearing the end of the review period, there could be 36 adds/deletes across the S&amp;P/ASX family of indices in March.
Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to the S&amp;P/ASX 200 and S&amp;P/ASX 300.
Completion of the merger with Chemist Warehouse in February will set off huge passive buying in Sigma Healthcare (SIG AU) over the February to June period.


S&P/​​​​​​​​​ASX Index Rebalance Preview: Lots of Change; Could Be More with Sigma/CWG Merger

<ul>
<li>
<a href="https://www.smartkarma.com/entities/telix-pharmaceuticals-ltd" target="_blank" data-smartkarma-citation="entities:26052:1" rel="noopener">Telix Pharmaceuticals (TLX AU)</a> is the sole (and somewhat surprising) inclusion for the <a href="https://www.smartkarma.com/entities/vaneck-vectors-australian-equal-weight-etf" target="_blank" data-smartkarma-citation="entities:24297:1" rel="noopener">VanEck Vectors Australian Equal Weight ETF (MVW AU)</a> in December.</li>
<li>The one inclusion, float changes and capping changes result in a one-way turnover of 5.5% leading to a round-trip trade of A$290m.</li>
<li>Shorts have increased in <a href="https://www.smartkarma.com/entities/telix-pharmaceuticals-ltd" target="_blank" data-smartkarma-citation="entities:26052:1" rel="noopener">Telix Pharmaceuticals (TLX AU)</a> this year but there has been some covering in the stock recently.</li>
</ul>



Telix Pharmaceuticals (TLX AU) is the sole (and somewhat surprising) inclusion for the VanEck Vectors Australian Equal Weight ETF (MVW AU) in December.
The one inclusion, float changes and capping changes result in a one-way turnover of 5.5% leading to a round-trip trade of A$290m.
Shorts have increased in Telix Pharmaceuticals (TLX AU) this year but there has been some covering in the stock recently.


MV Australia Equal Weight Index Rebalance: One Add & Capping Leads to A$290m Trade

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The MV Australia Equal Weight Index represents the performance of large, liquid companies incorporated in Australia and listed on the ASX.</li>
<li>
<a href="https://www.smartkarma.com/entities/telix-pharmaceuticals-ltd" target="_blank" data-smartkarma-citation="entities:26052:1" rel="noopener">Telix Pharmaceuticals (TLX AU)</a> is an ADD for the December 2024 review, with no other changes to the index.</li>
<li>We expect a one-way flow of $US90mm for December 2024, which translates to a turnover of 5.5%.</li>
</ul>


The MV Australia Equal Weight Index represents the performance of large, liquid companies incorporated in Australia and listed on the ASX.

Telix Pharmaceuticals (TLX AU) is an ADD for the December 2024 review, with no other changes to the index.
We expect a one-way flow of $US90mm for December 2024, which translates to a turnover of 5.5%.


[Quiddity Index] MV Australia Equal Weight Dec 24 Rebal Results: Flow Expectations

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Dec 6th (reported today) which has an aggregated short interest worth USD22.9bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Apa, Champion Iron, Pro Medicus, BHP, National Australia Bank, Goodman.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Dec 6th (reported today) which has an aggregated short interest worth USD22.9bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Apa, Champion Iron, Pro Medicus, BHP, National Australia Bank, Goodman.


ASX Short Interest Weekly (Dec 6th): Apa, Champion Iron, Pro Medicus, BHP, National Australia Bank

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Nov 29th (reported today) which has an aggregated short interest worth USD23.8bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Transurban, Mineral Resources, Wisetech Global, Macquarie, Pilbara Minerals, Ampol, Dexus Property, ANZ.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Nov 29th (reported today) which has an aggregated short interest worth USD23.8bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Transurban, Mineral Resources, Wisetech Global, Macquarie, Pilbara Minerals, Ampol, Dexus Property, ANZ.


ASX Short Interest Weekly (Nov 29th): Transurban, Mineral Resources, Wisetech Global, Macquarie

Australia

Pro Medicus Limited develops and supplies proprietary software and IT solutions for large medical corporations and individual medical group practices.  The Group's services include billing and management systems for diagnostic imaging providers, clinical reporting systems, and appointment booking services.  Pro Medicus' e-mail system delivers encrypted diagnostic reports to group doctors.

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Pro Medicus Ltd (PME AU)

S&P/ASX Index Rebalance Preview: Lots of Change; Could Be More with Sigma/CWG Merger

There could be 36 changes for the ASX indices in March. There is big flow and impact. The Sigma merger with CWG will result in over A$2bn of...

Brian Freitas

MV Australia Equal Weight Index Rebalance: One Add & Capping Leads to A$290m Trade

Telix Pharma is a surprise inclusion in December. The add, float and capping changes lead to an estimated one-way turnover of 5.5% and to a round...

Brian Freitas

[Quiddity Index] MV Australia Equal Weight Dec 24 Rebal Results: Flow Expectations

The MVIS Australia Equal-Weight Index sees one add and one delete in the rebal announced Friday. Implementation is 20 Dec 2024 at the close.

Travis Lundy

ASX Short Interest Weekly (Dec 6th): Apa, Champion Iron, Pro Medicus, BHP, National Australia Bank

We analyzed ASX short interest report for the past week and highlight short interest changes in Apa, Champion Iron, Pro Medicus, BHP, National...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Nov 29th): Transurban, Mineral Resources, Wisetech Global, Macquarie

We analyzed ASX short interest report for the past week and highlight short interest changes in Transurban, Mineral Resources, Wisetech Global,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​​​​​​ASX Index Rebalance Preview: Lots of Change; Could Be More with Sigma/CWG Merger

There could be 36 changes for the ASX indices in March. There is big flow and impact. The Sigma merger with CWG will result in over A$2bn of...

Brian Freitas

MV Australia Equal Weight Index Rebalance: One Add & Capping Leads to A$290m Trade

Telix Pharma is a surprise inclusion in December. The add, float and capping changes lead to an estimated one-way turnover of 5.5% and to a round...

Brian Freitas

[Quiddity Index] MV Australia Equal Weight Dec 24 Rebal Results: Flow Expectations

The MVIS Australia Equal-Weight Index sees one add and one delete in the rebal announced Friday. Implementation is 20 Dec 2024 at the close.

Travis Lundy

ASX Short Interest Weekly (Dec 6th): Apa, Champion Iron, Pro Medicus, BHP, National Australia Bank

We analyzed ASX short interest report for the past week and highlight short interest changes in Apa, Champion Iron, Pro Medicus, BHP, National...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Nov 29th): Transurban, Mineral Resources, Wisetech Global, Macquarie

We analyzed ASX short interest report for the past week and highlight short interest changes in Transurban, Mineral Resources, Wisetech Global,...

Ke Yan, CFA, FRM

S&P/ASX Index Rebalance Preview: Lots of Change; Could Be More with Sigma/CWG Merger