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

Dian Swastatika Sentosa / Index Rebalance

<ul>
<li>There is 1 constituent change for the IDX30 Index, and 5 changes each for the LQ45 Index and IDX80 Index to be implemented at the close on 30 April.</li>
<li>Following their inclusion on the High Shareholding Concentration list, <a href="https://www.smartkarma.com/entities/pt-barito-renewables-energy-tbk" target="_blank" data-smartkarma-citation="entities:40150:1" rel="noopener">Barito Renewables Energy (BREN IJ)</a> and <a href="https://www.smartkarma.com/entities/dian-swastatika-sentosa-tbk" target="_blank" data-smartkarma-citation="entities:15281:1" rel="noopener">Dian Swastatika Sentosa (DSSA IJ)</a> will be deleted from the LQ45 and IDX80 indices.</li>
<li>While the size of the passive AUM is small, a lot of active funds use the LQ45 Index as a benchmark and could sell BREN/DSSA before the global index trackers.</li>
</ul>


There is 1 constituent change for the IDX30 Index, and 5 changes each for the LQ45 Index and IDX80 Index to be implemented at the close on 30 April.
Following their inclusion on the High Shareholding Concentration list, Barito Renewables Energy (BREN IJ) and Dian Swastatika Sentosa (DSSA IJ) will be deleted from the LQ45 and IDX80 indices.
While the size of the passive AUM is small, a lot of active funds use the LQ45 Index as a benchmark and could sell BREN/DSSA before the global index trackers.


IDX30/​​LQ45/IDX80 Index Rebalance: BREN and DSSA Deleted from Local Indices

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bumi-resources-tbk-pt" target="_blank" data-smartkarma-citation="entities:15734:1" rel="noopener">Bumi Resources (BUMI IJ)</a>' recent rally could result in the stock being added to a global index in February. </li>
<li>
<a href="https://www.smartkarma.com/entities/bumi-resources-tbk-pt" target="_blank" data-smartkarma-citation="entities:15734:1" rel="noopener">Bumi Resources (BUMI IJ)</a> trades marginally cheaper than its largest peers but all these stocks trade at more than 40x trailing PE.</li>
<li>Positioning appears stretched following the recent rally and there could be downside over the near-term. Trimming positions into strength appears prudent.</li>
</ul>



Bumi Resources (BUMI IJ)' recent rally could result in the stock being added to a global index in February. 

Bumi Resources (BUMI IJ) trades marginally cheaper than its largest peers but all these stocks trade at more than 40x trailing PE.
Positioning appears stretched following the recent rally and there could be downside over the near-term. Trimming positions into strength appears prudent.


Bumi Resources (BUMI IJ): Potential Global Index Inclusion in Feb

<ul>
<li>The review period for the LQ45 Index rebalance ended on 31 December. The changes should be announced the last week of January, becoming effective after the close on 30 January.</li>
<li>We highlight 3 potential inclusions and 3 potential exclusions for the index at the rebalance. Depending on the index committee discretion, the actual number of changes could be lower/higher.</li>
<li>The impact on the forecast inclusions is not very high but the impact on the forecast deletion is much higher.</li>
</ul>


The review period for the LQ45 Index rebalance ended on 31 December. The changes should be announced the last week of January, becoming effective after the close on 30 January.
We highlight 3 potential inclusions and 3 potential exclusions for the index at the rebalance. Depending on the index committee discretion, the actual number of changes could be lower/higher.
The impact on the forecast inclusions is not very high but the impact on the forecast deletion is much higher.


LQ45 Index Rebalance Preview (Jan 2026): Identifying Potential Index Changes

Indonesia

Darma Henwa Tbk is an Indonesia-based integrated mining and energy services company. It provides general mining contractor services, including heavy equipment for mining extraction, civil works, and maintenance services for mining equipment. The company was established in 1991 and is headquartered in Jakarta Selatan, Indonesia.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Darma Henwa (DEWA IJ)

IDX30/LQ45/IDX80 Index Rebalance: BREN and DSSA Deleted from Local Indices

Barito Renewables and Dian Swastatika Sentosa are deletions from local indices this week. Passive tracking AUM is small but active managers use the...

Brian Freitas

Bumi Resources (BUMI IJ): Potential Global Index Inclusion in Feb

Bumi Resources could be added to a global index in Feb. Positioning appears stretched and valuations are expensive. Trimming positions into...

Brian Freitas

LQ45 Index Rebalance Preview (Jan 2026): Identifying Potential Index Changes

We highlight 3 sets of changes for the LQ45 in January. The forecast adds have surged while the forecast deletes have dropped. Historically, adds...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

IDX30/​​LQ45/IDX80 Index Rebalance: BREN and DSSA Deleted from Local Indices

Barito Renewables and Dian Swastatika Sentosa are deletions from local indices this week. Passive tracking AUM is small but active managers use the...

Brian Freitas

Bumi Resources (BUMI IJ): Potential Global Index Inclusion in Feb

Bumi Resources could be added to a global index in Feb. Positioning appears stretched and valuations are expensive. Trimming positions into...

Brian Freitas

LQ45 Index Rebalance Preview (Jan 2026): Identifying Potential Index Changes

We highlight 3 sets of changes for the LQ45 in January. The forecast adds have surged while the forecast deletes have dropped. Historically, adds...

Brian Freitas

IDX30/LQ45/IDX80 Index Rebalance: BREN and DSSA Deleted from Local Indices