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>The changes to the Hang Seng family of indices were announced post market close on 21 August - final capping will use closing prices from the close on 1 September.</li>
<li>There are 2 adds for the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">HSI</a>, no constituent changes <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index" target="_blank" data-smartkarma-citation="entities:22900:1" rel="noopener">HSCEI</a>, 1 change for the <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">HSTECH</a>, 5 changes for the HSIII, and 1 change for the HSBIO.</li>
<li>There are 61 adds and 15 deletes for the Hang Seng Composite Index and that should lead to 54 additions to Southbound Stock Connect from the open on 7 September.</li>
</ul>


The changes to the Hang Seng family of indices were announced post market close on 21 August - final capping will use closing prices from the close on 1 September.
There are 2 adds for the HSI, no constituent changes HSCEI, 1 change for the HSTECH, 5 changes for the HSIII, and 1 change for the HSBIO.
There are 61 adds and 15 deletes for the Hang Seng Composite Index and that should lead to 54 additions to Southbound Stock Connect from the open on 7 September.


Hang Seng Indexes: US$3.2bn of Flows Post Capping + Stock Connect Changes (Sep 2026)

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Death sentence / Caixin Explains: The extreme graft cases dealt a death sentence without reprieve</li><li>Insights /: Currency diversification can coexist with dollar dominance, vice finance minister says</li><li>Corruption /: China investigates two more ex-financial overseers for corruption</li></ul>

Death sentence / Caixin Explains: The extreme graft cases dealt a death sentence without reprieveInsights /: Currency diversification can coexist with dollar dominance, vice finance minister saysCorruption /: China investigates two more ex-financial overseers for corruption

CX Daily: The Extreme Graft Cases Dealt a Death Sentence Without Reprieve 

<ul><li>Pension / Cover Story: China’s pension plan faces prospect for change or going bust</li><li>Exports /China facing container shortage as exporters rush to beat looming U.S. tariffs</li><li>Personnel /Chinese foreign ministry promotes long-time spokesperson to vice minister</li></ul>

Pension / Cover Story: China’s pension plan faces prospect for change or going bustExports /China facing container shortage as exporters rush to beat looming U.S. tariffsPersonnel /Chinese foreign ministry promotes long-time spokesperson to vice minister

CX Daily: China’s Pension Plan Faces Prospect for Change or Going Bust 

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

Shenton Research

Shenton 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 analysed the earning revision of component stocks of HS TECH in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Kuaishou, XPENG, XIAOMI, BIDU, LI AUTO, SMIC.</li>
</ul>


We analysed the earning revision of component stocks of HS TECH in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Kuaishou, XPENG, XIAOMI, BIDU, LI AUTO, SMIC.


HS TECH Index Earning Revision (Aug): Kuaishou, XPENG, XIAOMI, BIDU, LI AUTO, SMIC

<ul>
<li>An addition to the existing index themes will see 14 stocks added to the <a href="https://www.smartkarma.com/entities/kraneshares-csi-china-internet-etf" target="_blank" data-smartkarma-citation="entities:28208:1" rel="noopener">KraneShares CSI China Internet ETF (KWEB US)</a> next week.</li>
<li>The trade is over US$2bn round-trip and there is a big funding impact for some of the existing index constituents.</li>
<li>Following the methodology change, more money could flow into the <a href="https://www.smartkarma.com/entities/kraneshares-csi-china-internet-etf" target="_blank" data-smartkarma-citation="entities:28208:1" rel="noopener">KraneShares CSI China Internet ETF (KWEB US)</a> as the free float market cap increases significantly.</li>
</ul>


An addition to the existing index themes will see 14 stocks added to the KraneShares CSI China Internet ETF (KWEB US) next week.
The trade is over US$2bn round-trip and there is a big funding impact for some of the existing index constituents.
Following the methodology change, more money could flow into the KraneShares CSI China Internet ETF (KWEB US) as the free float market cap increases significantly.


KWEB Ad Hoc Index Rebalance: 14 Adds and Over US$2bn Trade

China

SenseTime is a leading artificial intelligence software company that researches, develops, and sells AI software platforms. It provides AI technologies across generative AI, traditional AI, and smart auto, enabling digital transformation for enterprises, smart city management, and applications in IoT, Metaverse, smart health, and automotive. The company was founded in 2014 and is headquartered in Hong Kong.

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SenseTime (20 HK)

Hang Seng Indexes: US$3.2bn of Flows Post Capping + Stock Connect Changes (Sep 2026)

The Sep rebalance of the HSI, HSCEI, HSTECH, HSIII indices will use 1 Sep closing prices for capping. The round-trip trade across the four indices...

Brian Freitas

CX Daily: The Extreme Graft Cases Dealt a Death Sentence Without Reprieve

Death sentence / Caixin Explains: The extreme graft cases dealt a death sentence without reprieve On Tuesday, a former general manager of China...

Caixin Global

CX Daily: China’s Pension Plan Faces Prospect for Change or Going Bust

Pension / Cover Story: China’s pension plan faces prospect for change or going bust China’s pension plan for employees of state-owned and private...

Caixin Global

HS TECH Index Earning Revision (Aug): Kuaishou, XPENG, XIAOMI, BIDU, LI AUTO, SMIC

We analyzed HS TECH's consensus for Aug 2026 and highlighted changes of EPS in Kuaishou, XPENG, XIAOMI, BIDU, LI AUTO, SMIC.

Ke Yan, CFA, FRM

KWEB Ad Hoc Index Rebalance: 14 Adds and Over US$2bn Trade

KWEB rebalances at the close today. On average, the adds were up 2.8% on the 20th, up 3.6% on the 21st, and down 6.3% on the 24th. The funding adds...

Brian Freitas

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