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>
<a href="https://www.smartkarma.com/entities/reece-ltd" target="_blank" data-smartkarma-citation="entities:3186:1" rel="noopener">Reece Ltd (REH AU)</a>'s stock price has dropped a lot over the last year, and the significantly lower market cap could result in global index deletion in August. </li>
<li>Short interest started to pick up early this year and has accelerated over the last couple of months. There are indications of positioning in the stock.</li>
<li>
<a href="https://www.smartkarma.com/entities/reece-ltd" target="_blank" data-smartkarma-citation="entities:3186:1" rel="noopener">Reece Ltd (REH AU)</a> has underperformed its peers but still trades at a higher EV/EBITDA and forward PE compared to most of its peer group.</li>
</ul>



Reece Ltd (REH AU)'s stock price has dropped a lot over the last year, and the significantly lower market cap could result in global index deletion in August. 
Short interest started to pick up early this year and has accelerated over the last couple of months. There are indications of positioning in the stock.

Reece Ltd (REH AU) has underperformed its peers but still trades at a higher EV/EBITDA and forward PE compared to most of its peer group.


Reece (REH AU): Positioning Increases as Global Index Deletion Nears

Financial News, Analysis and Data, FNArena

FNArena

Financial News, Analysis and Data

Online financial media company focused on Australian equities, with a global perspective

Equity Bottom-Up

<ul><li>It is not just Australia suffering a housing affordability crisis.</li><li>The US is also suffering, particularly in the south, impacting Reece's revenues and margins</li></ul>

It is not just Australia suffering a housing affordability crisis.The US is also suffering, particularly in the south, impacting Reece's revenues and margins

Reece Battling Tariffs, Competition & Cost Crises

New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Thematic (Sector/Industry)

<ul><li>The housing market picks up from slow start to the year (REINZ, Feb.): National sales up +22.2% seasonally adjusted month-on-month (previously -33.5%) but are +0.3% yoy (previously -1.9%).</li><li>Rents remain under pressure (Trade Me, Feb.): Median rents -3.1% yoy with the largest declines in Marlborough (-5.8%), Gisborne (-4.4%), Otago (-3.3%), and Wellington (-3%).</li><li>Metro Performance Glass (MPG) trading update: MPG expect revenue c.-9% below previous guidance on the back of lower volumes and pricing pressures.</li></ul>

The housing market picks up from slow start to the year (REINZ, Feb.): National sales up +22.2% seasonally adjusted month-on-month (previously -33.5%) but are +0.3% yoy (previously -1.9%).Rents remain under pressure (Trade Me, Feb.): Median rents -3.1% yoy with the largest declines in Marlborough (-5.8%), Gisborne (-4.4%), Otago (-3.3%), and Wellington (-3%).Metro Performance Glass (MPG) trading update: MPG expect revenue c.-9% below previous guidance on the back of lower volumes and pricing pressures.

Asia Pac ECM and Index Rebal, DZT 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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Apr 10th (reported today). The aggregated short interest was USD42.9bn.</li>
<li>We tabulate league tables 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 BHP, Qbe Insurance, Wesfarmers, Transurban, CAR.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Apr 10th (reported today). The aggregated short interest was USD42.9bn.
We tabulate league tables 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 BHP, Qbe Insurance, Wesfarmers, Transurban, CAR.


ASX Short Interest Weekly (Apr 10th): BHP, Qbe Insurance, Wesfarmers, Transurban, CAR

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Mar 20th (reported today). The aggregated short interest was USD36.7bn.</li>
<li>We tabulate league tables 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 Evolution Mining, 4Dmedical Ltd, Sigma Pharmaceuticals, Insurance Australia, Coles.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Mar 20th (reported today). The aggregated short interest was USD36.7bn.
We tabulate league tables 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 Evolution Mining, 4Dmedical Ltd, Sigma Pharmaceuticals, Insurance Australia, Coles.


ASX Short Interest Weekly (Mar 20th): Evolution Mining, 4Dmedical Ltd, Sigma Pharmaceuticals

Australia

Reece Limited operates as a plumbing, building and hardware merchant throughout Australia.  The Company offers a variety of bathroom, kitchen and laundry products through its national stores and showrooms.  Reece's products are utilized by plumbers, consumers, architects, builders and interior designers.

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Reece Ltd (REH AU)

Reece (REH AU): Positioning Increases as Global Index Deletion Nears

Reece is a high probability deletion from a global index next month. Short interest has surged over the last few months. Despite underperforming...

Brian Freitas

Reece Battling Tariffs, Competition & Cost Crises

It is not just Australia suffering a housing affordability crisis. The US is also suffering, particularly in the south, impacting Reece's revenues...

FNArena

Building News Wrap

The housing market picks up from slow start to the year (REINZ, Feb.): National sales up +22.2% seasonally adjusted month-on-month (previously...

Forsyth Barr

ASX Short Interest Weekly (Apr 10th): BHP, Qbe Insurance, Wesfarmers, Transurban, CAR

We analyzed ASX short interest report for the past week and highlight short interest changes in BHP, Qbe Insurance, Wesfarmers, Transurban, CAR.

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Mar 20th): Evolution Mining, 4Dmedical Ltd, Sigma Pharmaceuticals

We analyzed ASX short interest report for the past week and highlight short interest changes in Evolution Mining, 4Dmedical Ltd, Sigma...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)