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>With the review period complete, we forecast 10 changes for the <a href="https://www.smartkarma.com/entities/chinext-index" target="_blank" data-smartkarma-citation="entities:25483:1" rel="noopener">ChiNext Index (SZ399006 INDEX EQUITY)</a> and 5 changes for the ChiNext 50 Index in June.</li>
<li>The largest flows will be in stocks that are adds/deletes for both indices - and there are a few of those. Plus there are some overlaps with other indices.</li>
<li>While the forecast adds have outperformed the forecast deletes for both indices since January, near-term performance has not been great. That could change as we near the announcement date.</li>
</ul>


With the review period complete, we forecast 10 changes for the ChiNext Index (SZ399006 INDEX EQUITY) and 5 changes for the ChiNext 50 Index in June.
The largest flows will be in stocks that are adds/deletes for both indices - and there are a few of those. Plus there are some overlaps with other indices.
While the forecast adds have outperformed the forecast deletes for both indices since January, near-term performance has not been great. That could change as we near the announcement date.


ChiNext/​​​ChiNext50 Index Rebalance Preview: Whole Lotta Change

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The ChiNext index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.</li>
<li>The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.</li>
<li>We see 10 changes for the ChiNext index and 5 changes for the ChiNext 50 index in the next index rebal event.</li>
</ul>


The ChiNext index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.
The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.
We see 10 changes for the ChiNext index and 5 changes for the ChiNext 50 index in the next index rebal event.


Quiddity Leaderboard ChiNext & ChiNext 50 Jun25: Some New Expectations; Try Sector-Neutral Pairs

Shandong Weifang Rainbow Chemi / Index Rebalance

Shandong Weifang Rainbow Chemi (301035 CH)

<ul>
<li>The ChiNext index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.</li>
<li>The ChiNext 50 index is a subset of the ChiNext index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.</li>
<li>We see 9 changes for the ChiNext index and 5 changes for the ChiNext 50 index in the next index rebal event in June 2025.</li>
</ul>


The ChiNext index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.
The ChiNext 50 index is a subset of the ChiNext index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.
We see 9 changes for the ChiNext index and 5 changes for the ChiNext 50 index in the next index rebal event in June 2025.


Quiddity Leaderboard ChiNext & ChiNext 50 Jun25: US$1.4bn Total One-Way Flows; Basket Trade Idea

<ul>
<li>The ChiNext index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.</li>
<li>The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.</li>
<li>We see 10 changes for the ChiNext index and 5 changes for the ChiNext 50 index in the next index rebal event. Combined it is about US$1bn to trade one-way.</li>
</ul>


The ChiNext index represents the performance of the 100 largest and most liquid A-share stocks listed on the ChiNext Market of the Shenzhen Stock Exchange.
The ChiNext 50 index is a subset of the ChiNext Index and it consists of the top 50 names in the ChiNext index with the highest daily average turnover.
We see 10 changes for the ChiNext index and 5 changes for the ChiNext 50 index in the next index rebal event. Combined it is about US$1bn to trade one-way.


Quiddity Leaderboard ChiNext & ChiNext 50 Jun 25: Great Momentum for the Exp ADDs Vs Exp DELs Trade

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

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.

Equity Capital Markets

Doosan Robotics  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/doosan-robotics" target="_blank" data-smartkarma-citation="entities:36816:1" rel="noopener">Doosan Robotics (DOOSANROBO KS)</a> is looking to raise up to US$314m in its Korean IPO. </li>
<li>Doosan Robotics (DR) manufactures and sells collaborative robots (Cobots). The firm’s product portfolio primarily includes different series of robot arms as well as its coffee module. </li>
<li>In our previous notes, we talked about the company’s past performance. In this note, we undertake a peer comparison.</li>
</ul>



Doosan Robotics (DOOSANROBO KS) is looking to raise up to US$314m in its Korean IPO. 
Doosan Robotics (DR) manufactures and sells collaborative robots (Cobots). The firm’s product portfolio primarily includes different series of robot arms as well as its coffee module. 
In our previous notes, we talked about the company’s past performance. In this note, we undertake a peer comparison.


Doosan Robotics IPO - Peer Comparison - Has Niche Offerings but Doesn’t Lack Competition

China

RoboTechnik Intelligent Technology Co., Ltd designs, develops, and manufactures automated equipment. The Company provides production equipment, storage, sorting and testing, control valves, diffusion processing, and milk packaging automation systems. RoboTechnik Intelligent Technology markets its products in China.

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

Robotechnik Intelligent Te-A (300757 CH)

ChiNext/ChiNext50 Index Rebalance Preview: Whole Lotta Change

There could be 10/5 changes for the Chinext/50 in June with 10 stocks having over 1x ADV to trade from passives. Adds have outperformed the deletes...

Brian Freitas

Quiddity Leaderboard ChiNext & ChiNext 50 Jun25: Some New Expectations; Try Sector-Neutral Pairs

There could be roughly US$1.4bn in total one-way flows for ChiNext and ChiNext 50 during the June 2025 index rebalance event. Some expectations...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ChiNext & ChiNext 50 Jun25: US$1.4bn Total One-Way Flows; Basket Trade Idea

There could be ~US$1.1bn and ~US$300mn one-way flows for ChiNext and ChiNext 50 respectively. There is one change in the expected ADDs/DELs for...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ChiNext & ChiNext 50 Jun 25: Great Momentum for the Exp ADDs Vs Exp DELs Trade

The expected ADDs have been sharply outperforming the expected DELs and that could continue over the next few weeks/months.

Janaghan Jeyakumar, CFA

Doosan Robotics IPO - Peer Comparison - Has Niche Offerings but Doesn’t Lack Competition

Doosan Robotics (DOOSANROBO KS) is looking to raise up to US$314m in its Korean IPO. In our previous notes, we talked about the company’s past...

Ethan Aw

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ChiNext/​​​ChiNext50 Index Rebalance Preview: Whole Lotta Change

There could be 10/5 changes for the Chinext/50 in June with 10 stocks having over 1x ADV to trade from passives. Adds have outperformed the deletes...

Brian Freitas

Quiddity Leaderboard ChiNext & ChiNext 50 Jun25: Some New Expectations; Try Sector-Neutral Pairs

There could be roughly US$1.4bn in total one-way flows for ChiNext and ChiNext 50 during the June 2025 index rebalance event. Some expectations...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ChiNext & ChiNext 50 Jun25: US$1.4bn Total One-Way Flows; Basket Trade Idea

There could be ~US$1.1bn and ~US$300mn one-way flows for ChiNext and ChiNext 50 respectively. There is one change in the expected ADDs/DELs for...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ChiNext & ChiNext 50 Jun 25: Great Momentum for the Exp ADDs Vs Exp DELs Trade

The expected ADDs have been sharply outperforming the expected DELs and that could continue over the next few weeks/months.

Janaghan Jeyakumar, CFA

Doosan Robotics IPO - Peer Comparison - Has Niche Offerings but Doesn’t Lack Competition

Doosan Robotics (DOOSANROBO KS) is looking to raise up to US$314m in its Korean IPO. In our previous notes, we talked about the company’s past...

Ethan Aw

ChiNext/ChiNext50 Index Rebalance Preview: Whole Lotta Change