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/northern-star-resources-ltd" target="_blank" data-smartkarma-citation="entities:4243:1" rel="noopener">Northern Star Resources (NST AU)</a>'s acquisition of <a href="https://www.smartkarma.com/entities/de-grey-mining-ltd" target="_blank" data-smartkarma-citation="entities:6192:1" rel="noopener">De Grey Mining (DEG AU)</a> is expected to complete in the next 3 weeks.</li>
<li>There will be an ad hoc inclusion 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 (AS51 INDEX)</a> and passive buying in <a href="https://www.smartkarma.com/entities/northern-star-resources-ltd" target="_blank" data-smartkarma-citation="entities:4243:1" rel="noopener">Northern Star Resources (NST AU)</a> from a bunch of trackers of different indices.</li>
<li>The acquisition brings <a href="https://www.smartkarma.com/entities/northern-star-resources-ltd" target="_blank" data-smartkarma-citation="entities:4243:1" rel="noopener">Northern Star Resources (NST AU)</a> close to inclusion in the S&amp;P/ASX 20 Index, but it's not there yet.</li>
</ul>



Northern Star Resources (NST AU)'s acquisition of De Grey Mining (DEG AU) is expected to complete in the next 3 weeks.
There will be an ad hoc inclusion to the S&amp;P/ASX 200 (AS51 INDEX) and passive buying in Northern Star Resources (NST AU) from a bunch of trackers of different indices.
The acquisition brings Northern Star Resources (NST AU) close to inclusion in the S&amp;P/ASX 20 Index, but it's not there yet.


Northern Star's Acquisition of De Grey Mining: The Many Index Implications & Flows

<ul>
<li>Given its portfolio mix, <a href="https://www.smartkarma.com/entities/treasury-wine-estates-ltd" target="_blank" data-smartkarma-citation="entities:710:1" rel="noopener">Treasury Wine Estates (TWE AU)</a> does not expect a material impact on its business from the blanket 10% tariff on all goods imported from Australia/New Zealand.</li>
<li>However, there is a high probability that <a href="https://www.smartkarma.com/entities/treasury-wine-estates-ltd" target="_blank" data-smartkarma-citation="entities:710:1" rel="noopener">Treasury Wine Estates (TWE AU)</a> will be deleted from a global index in May and that will lead to large selling from passives.</li>
<li>There has been an increase in short interest and an increase in other positioning. Trading will be volatile but there could be a downward bias over the next few weeks.</li>
</ul>


Given its portfolio mix, Treasury Wine Estates (TWE AU) does not expect a material impact on its business from the blanket 10% tariff on all goods imported from Australia/New Zealand.
However, there is a high probability that Treasury Wine Estates (TWE AU) will be deleted from a global index in May and that will lead to large selling from passives.
There has been an increase in short interest and an increase in other positioning. Trading will be volatile but there could be a downward bias over the next few weeks.


Treasury Wine Estates (TWE AU): Passive Selling Adds to Tariff Woes

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>Analysis of the <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY</a>, <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225</a>, <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hang Seng</a>, <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">KOSPI 200</a>, <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>, <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500</a> and <a href="https://www.smartkarma.com/entities/nasdaq-100-stock-index" target="_blank" data-smartkarma-citation="entities:26197:1" rel="noopener">Nasdaq-100</a> stock indices: where is the bottom for the global stock market rout? </li>
<li>
<a href="https://www.smartkarma.com/insights/nasdaq-100-ndx-and-trump-s-tariffs-war-how-to-read-our-insights-models-during-a-bear-market-crash" target="_blank" rel="noopener">As explained in this insight</a>, our models have been battle-tested since 2008. While they can't predict the future, they provide valuable insights for identifying market bottoms during crashes. </li>
<li>What follows is a focused analysis of each market index we track, aimed at identifying potential bottoms amid extreme sell-offs, helping position ahead of the next Bear Market rally/reversal. </li>
</ul>


Analysis of the NIFTY, Nikkei 225, Hang Seng, KOSPI 200, S&amp;P/ASX 200, S&amp;P 500 and Nasdaq-100 stock indices: where is the bottom for the global stock market rout? 

As explained in this insight, our models have been battle-tested since 2008. While they can't predict the future, they provide valuable insights for identifying market bottoms during crashes. 
What follows is a focused analysis of each market index we track, aimed at identifying potential bottoms amid extreme sell-offs, helping position ahead of the next Bear Market rally/reversal. 


Global Stocks Outlook: Where Is the Bottom for This Crash?

Derivatives and Quantitative Strategist

Gaudenz Schneider

Macroeconomics

<ul>
<li>
India: RBI rate decision on 9 April, 0.25% cut expected.</li>
<li>
CPI Release: Several economies release CPI data next week, while central banks update their forecasts and scenarios with the recently released US tariffs.</li>
<li>
Monthly Option Expiries: in India (BSE Stock options), Japan (Nikkei, Topix, Stocks), and South Korea (Kospi 200). The BSE moved the expiry one day forward due to a holiday.</li>
</ul>



India: RBI rate decision on 9 April, 0.25% cut expected.

CPI Release: Several economies release CPI data next week, while central banks update their forecasts and scenarios with the recently released US tariffs.

Monthly Option Expiries: in India (BSE Stock options), Japan (Nikkei, Topix, Stocks), and South Korea (Kospi 200). The BSE moved the expiry one day forward due to a holiday.


Market Movers: Key Dates at a Glance (7 - 13 April)

<ul>
<li>
Asia-Pac Performance: The Indian market bucketed the down trend with the Nifty 50 declining only 0.35% with stable implied volatility. The Nikkei 225, on the other hand,dropped 2.8%. </li>
<li>
US and European Decline: The US market saw the largest decline, with implied volatility rising by 8%. European indices showed mixed results, with the EuroStoxx 50 reacting strongly.</li>
<li>
Gold vs. Bitcoin: Gold (GLD US ETF) proved to be a better store of value, while Bitcoin joined the US indices in higher volatility.</li>
</ul>



Asia-Pac Performance: The Indian market bucketed the down trend with the Nifty 50 declining only 0.35% with stable implied volatility. The Nikkei 225, on the other hand,dropped 2.8%. 

US and European Decline: The US market saw the largest decline, with implied volatility rising by 8%. European indices showed mixed results, with the EuroStoxx 50 reacting strongly.

Gold vs. Bitcoin: Gold (GLD US ETF) proved to be a better store of value, while Bitcoin joined the US indices in higher volatility.


Chart of the Day: Implied Volatility Soars Globally, US and Bitcoin Hit Hardest

Australia

The S&P/ASX 200 measures the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalization. Representative liquid and tradable, it is widely considered Australia's preeminent benchmark index. The index is float-adjusted. The index was launched in April 2000.

S&P/ASX 200 (AS51 INDEX)

Northern Star's Acquisition of De Grey Mining: The Many Index Implications & Flows

The Scheme Meeting is being held today. Proxy votes in favour make up 65.5% of shares outstanding and 99.38% of total proxy votes received. This...

Brian Freitas

Treasury Wine Estates (TWE AU): Passive Selling Adds to Tariff Woes

Treasury Wine Estates does not expect tariffs to have a material impact. The stock has dropped, and shorts have jumped. TWE could be deleted from a...

Brian Freitas

Global Stocks Outlook: Where Is the Bottom for This Crash?

Analysis of Major Global Stock Indices to Identify Potential Intermediate Bottoms: Where Could the First Bear Market Rallies Begin?

Nico Rosti

Market Movers: Key Dates at a Glance (7 - 13 April)

RBI expected to cut rates in India, CPI data and option expiries in focus for several economies next week. Exchange holiday in India.

Gaudenz Schneider

Chart of the Day: Implied Volatility Soars Globally, US and Bitcoin Hit Hardest

Indian market remains stable amidst Asia-Pac decline, while Japan is the worst performer in the region. US sees largest drop, Gold outperforms...

Gaudenz Schneider

Northern Star's Acquisition of De Grey Mining: The Many Index Implications & Flows

The Scheme Meeting is being held today. Proxy votes in favour make up 65.5% of shares outstanding and 99.38% of total proxy votes received. This...

Brian Freitas

Treasury Wine Estates (TWE AU): Passive Selling Adds to Tariff Woes

Treasury Wine Estates does not expect tariffs to have a material impact. The stock has dropped, and shorts have jumped. TWE could be deleted from a...

Brian Freitas

Global Stocks Outlook: Where Is the Bottom for This Crash?

Analysis of Major Global Stock Indices to Identify Potential Intermediate Bottoms: Where Could the First Bear Market Rallies Begin?

Nico Rosti

Market Movers: Key Dates at a Glance (7 - 13 April)

​RBI expected to cut rates in India, CPI data and option expiries in focus for several economies next week. Exchange holiday in India.

Gaudenz Schneider

Chart of the Day: Implied Volatility Soars Globally, US and Bitcoin Hit Hardest

​Indian market remains stable amidst Asia-Pac decline, while Japan is the worst performer in the region. US sees largest drop, Gold outperforms...

Gaudenz Schneider

RBI expected to cut rates in India, CPI data and option expiries in focus for several economies next week. Exchange holiday in India.

Indian market remains stable amidst Asia-Pac decline, while Japan is the worst performer in the region. US sees largest drop, Gold outperforms...