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>MSCI announced the quarterly review results after market close. As the cycle enters implementation, this note updates the stock setup.</li>
<li>ADDs entered implementation after a large pre-announcement move and still carry first-week give-back risk.</li>
<li>DELETEs were mild before implementation, but low-velocity DELETEs retain the weakest historical post-implementation profile.</li>
</ul>


MSCI announced the quarterly review results after market close. As the cycle enters implementation, this note updates the stock setup.
ADDs entered implementation after a large pre-announcement move and still carry first-week give-back risk.
DELETEs were mild before implementation, but low-velocity DELETEs retain the weakest historical post-implementation profile.


MS-Japan June 2026 Rebalance: Pre-Implementation Update

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

<ul>
<li>The changes to a global index in May will be announced pre-market open Wednesday and will be implemented at the close of trading on 29 May.</li>
<li>The big market moves since the last rebalance result in many changes with the final number dependent on the day picked to compute market cap and free float market cap.</li>
<li>There have been big price moves in stocks over the last few months with the forecast adds continuing to perform well and the forecast deletes beginning to catch a bid.</li>
</ul>


The changes to a global index in May will be announced pre-market open Wednesday and will be implemented at the close of trading on 29 May.
The big market moves since the last rebalance result in many changes with the final number dependent on the day picked to compute market cap and free float market cap.
There have been big price moves in stocks over the last few months with the forecast adds continuing to perform well and the forecast deletes beginning to catch a bid.


Global Index: Potential Changes in May for Asia Pac

Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

Thematic (Sector/Industry)

<p>We screened for large-cap names in Japan that have recently seen a spike in volatility. We calculated Beta over the last 6 months and compared it to the 7-year average Beta. We then screened for names where current Beta is more than 1.5 standard deviations above the 7-year average.</p><p>As you can see from the results below, a number of names have really moved away from their historical average. <a href="https://www.smartkarma.com/entities/6311" target="_blank" data-smartkarma-citation="entities:6311:1">Mitsubishi Tanabe Pharma (4508 JP)</a> and <a href="https://www.smartkarma.com/entities/794" target="_blank" data-smartkarma-citation="entities:794:1">Mitsubishi Motors Corp (7211 JP)</a> are both close to 3 standard…</p>

We screened for large-cap names in Japan that have recently seen a spike in volatility. We calculated Beta over the last 6 months and compared it to the 7-year average Beta. We then screened for names where current Beta is more than 1.5 standard deviations above the 7-year average.As you can see from the results below, a number of names have really moved away from their historical average. Mitsubishi Tanabe Pharma (4508 JP) and Mitsubishi Motors Corp (7211 JP) are both close to 3 standard…

Large-Cap Names that Have Gotten a Lot More Volatile Recently....

<p>We have decided to split our coverage of Analyst Upgrades and Downgrades into Japan only and Asia -ex Japan. We track changes in recommendations for the overall market to identify which sectors and companies are currently trending up in popularity and which are trending down.</p><h2>Positive Side</h2><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/023/022/original/2.png?1490213989" class="editor-image img-responsive" data-smartkarma-image-id="23022"></figure><div class="content-caption">Source: Custom Products</div><p>As you can see from the chart above the Energy Minerals (Only 7 names in sector), Finance and Consumer Durables Sectors had the highest % of upgrades relative to total recommendations over…</p>

We have decided to split our coverage of Analyst Upgrades and Downgrades into Japan only and Asia -ex Japan. We track changes in recommendations for the overall market to identify which sectors and companies are currently trending up in popularity and which are trending down.Positive SideSource: Custom ProductsAs you can see from the chart above the Energy Minerals (Only 7 names in sector), Finance and Consumer Durables Sectors had the highest % of upgrades relative to total recommendations over…

Most Popular and Unpopular Japanese Sectors over Last 2 Weeks....

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

<p>In this last of a series of articles examining the FashionTech scene in Japan, Euromonitor International looks at companies operating CtoC sales platforms and their impact on the Japanese apparel and footwear market. Please also read the <a href="https://www.smartkarma.com/insights/can-tech-save-the-declining-japanese-apparel-industry-fashiontech-series-1-3" target="_blank">first</a> and <a href="https://www.smartkarma.com/insights/can-tech-save-the-declining-japanese-apparel-industry-fashion-tech-series-2-3" target="_blank">second</a> articles.</p>

In this last of a series of articles examining the FashionTech scene in Japan, Euromonitor International looks at companies operating CtoC sales platforms and their impact on the Japanese apparel and footwear market. Please also read the first and second articles.

Can Tech Save the Declining Japanese Apparel Industry? : FashionTech Series (3/3)

Japan

Sekisui Chemical Co., Ltd. builds and sells unit residential houses in addition to parcels of land. The Company also manufactures and sells polyvinyl chloride and other plastic products used in, for instance, drainage pipes and bathtubs. Moreover the company is engaged in the production and sale of high performance plastic films, tapes and sheets.

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Sekisui Chemical (4204 JP)

MS-Japan June 2026 Rebalance: Pre-Implementation Update

MS-Japan enters the implementation phase on 1 June 2026. We update stock performance and discuss implementation trades.

Ke Yan, CFA, FRM

Global Index: Potential Changes in May for Asia Pac

The index rebalances at the close tomorrow and there will be huge volume in the constituent changes at the close. Since announcement, the adds have...

Brian Freitas

Large-Cap Names that Have Gotten a Lot More Volatile Recently....

We screened for large-cap names in Japan that have recently seen a spike in volatility. We calculated Beta over the last 6 months and compared it...

Custom Products Group

Most Popular and Unpopular Japanese Sectors over Last 2 Weeks....

We have decided to split our coverage of Analyst Upgrades and Downgrades into Japan only and Asia -ex Japan. We track changes in recommendations...

Custom Products Group

Can Tech Save the Declining Japanese Apparel Industry? : FashionTech Series (3/3)

In this last of a series of articles examining the FashionTech scene in Japan, Euromonitor International looks at companies operating CtoC sales...

Euromonitor International Ltd.

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