Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Index Rebalance

<ul>
<li>CSI announced four ADDs and four DELETEs for the STAR50 Jun 2026 review, effective 15 Jun 2026.</li>
<li>Our forecast hit one ADD and three DELETEs. We reviewed our HITs and MISSes.</li>
<li>The ADD miss came from one near-zone name and two fast-entry AI-chip names; stock-level positioning now drives whether to chase or fade.</li>
</ul>


CSI announced four ADDs and four DELETEs for the STAR50 Jun 2026 review, effective 15 Jun 2026.
Our forecast hit one ADD and three DELETEs. We reviewed our HITs and MISSes.
The ADD miss came from one near-zone name and two fast-entry AI-chip names; stock-level positioning now drives whether to chase or fade.


STAR50 Jun 2026 Index Rebalance: Post-Announcement Positioning

<ul>
<li>We analyzed the post-announcement return pattern of MSCI China June 2026 rebalance stocks, separating A-share (CH) and H-share (HK) cohorts within both ADD and DELETE groups.</li>
<li>DELETE: pre announcement was positive, but CH and HK High-vel history still supports shorts.</li>
<li>ADD: CH High-vel was stretched; bridging window's history is positive but inconsistent.</li>
</ul>


We analyzed the post-announcement return pattern of MSCI China June 2026 rebalance stocks, separating A-share (CH) and H-share (HK) cohorts within both ADD and DELETE groups.
DELETE: pre announcement was positive, but CH and HK High-vel history still supports shorts.
ADD: CH High-vel was stretched; bridging window's history is positive but inconsistent.


MS-China June 2026 Rebalance: Post-Announcement Trading Pattern Analysis

Yuanjie Semiconductor Technology / Index Rebalance

Yuanjie Semiconductor Technology (688498 CH)

<ul>
<li>We screen the STAR Market eligible universe ahead of the STAR50 May 2026 review.</li>
<li>Two names are high-conviction ADDs this cycle. A third sits at the entry boundary on lower confidence.</li>
<li>The DELETE slate has one clear case and two borderline names, with committee discretion the key variable.</li>
</ul>


We screen the STAR Market eligible universe ahead of the STAR50 May 2026 review.
Two names are high-conviction ADDs this cycle. A third sits at the entry boundary on lower confidence.
The DELETE slate has one clear case and two borderline names, with committee discretion the key variable.


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

MetaX Integrated Circuits / Index Rebalance

<ul>
<li>With the review period nearly complete, we forecast 4 constituent changes for the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a> and 10 constituent changes for the STAR100 Index in June.</li>
<li>Estimated turnover is 6.7% for the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a> and 13.9% for the STAR100 Index. The estimated round-trip net trade is CNY 20.15bn (US$2.95bn).</li>
<li>The forecast adds have outperformed the forecast deletes over the last few weeks and months. The forecast deletes have been pressured by ETF redemptions as momentum continues in the adds.</li>
</ul>


With the review period nearly complete, we forecast 4 constituent changes for the SSE STAR50 (STAR50 INDEX) and 10 constituent changes for the STAR100 Index in June.
Estimated turnover is 6.7% for the SSE STAR50 (STAR50 INDEX) and 13.9% for the STAR100 Index. The estimated round-trip net trade is CNY 20.15bn (US$2.95bn).
The forecast adds have outperformed the forecast deletes over the last few weeks and months. The forecast deletes have been pressured by ETF redemptions as momentum continues in the adds.


STAR50/STAR100 Index Rebalance Preview: Huge Outperformance, ETF Redemptions & Fast Entry Conundrum

Cambricon Technologies  Lt / Index Rebalance

<ul>
<li>There are 3 constituent changes for the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a>, 10 changes for the STAR100 Index and 2 changes for the STAR Chip Index at the March rebalance.</li>
<li>We estimate one-way turnover of 9% for the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">STAR50 INDEX</a> resulting in a round-trip trade of CNY 27.6bn (US$4bn). One-way turnover for the STAR100 Index is 9.2%.</li>
<li>With the National Team redeeming ETFs, the adds have outperformed the deletes for all the indices and that could continue ahead of implementation of the changes.</li>
</ul>


There are 3 constituent changes for the SSE STAR50 (STAR50 INDEX), 10 changes for the STAR100 Index and 2 changes for the STAR Chip Index at the March rebalance.
We estimate one-way turnover of 9% for the STAR50 INDEX resulting in a round-trip trade of CNY 27.6bn (US$4bn). One-way turnover for the STAR100 Index is 9.2%.
With the National Team redeeming ETFs, the adds have outperformed the deletes for all the indices and that could continue ahead of implementation of the changes.


STAR50/STAR100/STAR Chip Index Rebalance: Adds Outperform Deletes as Trade Nears US$6bn

China

Raytron Technology Co.,Ltd. manufactures electrical components. The Company produces integrated circuits, infrared imaging sensors, micro electromechanical systems sensors, and other products. Raytron Technology supplies its products in industrial temperature measurement, car night driving, security monitoring, forest fire prevention, building energy assessment, and other fields.

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Raytron Technology (688002 CH)

STAR50 Jun 2026 Index Rebalance: Post-Announcement Positioning

STAR50 Jun 2026 post-announcement trading is live. We review individual-stock positioning across ADDs and DELETEs. The opening gap should guide...

Ke Yan, CFA, FRM

MS-China June 2026 Rebalance: Post-Announcement Trading Pattern Analysis

Following MSCI May 2026 announcement, we a look at the trading pattern of affected stocks for MSCI-China from historical perspective by overlaying...

Ke Yan, CFA, FRM

STAR50 May 2026 Index Review Forecast

STAR50 May 2026 forecast: we expect Yuanjie Semiconductor, Dosilicon and Raytron Technology to enter, three current members to exit.

Ke Yan, CFA, FRM

STAR50/STAR100 Index Rebalance Preview: Huge Outperformance, ETF Redemptions & Fast Entry Conundrum

There could be 4 changes for the STAR50 and 10 for the STAR100 in June. Fast Entry inclusions depend on the index committee. ETF redemptions...

Brian Freitas

STAR50/STAR100/STAR Chip Index Rebalance: Adds Outperform Deletes as Trade Nears US$6bn

There are 3 changes for the STAR50, 10 changes for the STAR100, 2 changes for the STAR Chip in March. The adds have outperformed the deletes across...

Brian Freitas

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