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

Wanhua Chemical Group Co A / Index Rebalance

<ul>
<li>With the review period complete, there could be 3 changes for the <a href="https://www.smartkarma.com/entities/ishares-ftse-a50-china-index-etf" target="_blank" data-smartkarma-citation="entities:249:1" rel="noopener">iShares A50 China (2823 HK)</a> / <a href="https://www.smartkarma.com/entities/csop-ftse-china-a50-etf-26e3b671-fa47-4165-a12e-bf841640c5a3" target="_blank" data-smartkarma-citation="entities:23664:1" rel="noopener">CSOP China A50 (HKD) (2822 HK)</a> in March.</li>
<li>Passive trackers are estimated to trade between 0.2-0.5x ADV in the forecast changes but the stocks have moved a lot.</li>
<li>The forecast adds have outperformed the forecast deletes and the index in the short-term and medium-term and momentum continues to drive performance.</li>
</ul>


With the review period complete, there could be 3 changes for the iShares A50 China (2823 HK) / CSOP China A50 (HKD) (2822 HK) in March.
Passive trackers are estimated to trade between 0.2-0.5x ADV in the forecast changes but the stocks have moved a lot.
The forecast adds have outperformed the forecast deletes and the index in the short-term and medium-term and momentum continues to drive performance.


China A50 ETFs Rebalance Preview: Forecast Adds Continue to Outperform

Qinghai Huzhu Barley Wine Co / Index Rebalance

<ul>
<li>The review period ended on 31 October, the changes should be announced on 28 November and will be effective after the close of trading on 12 December.</li>
<li>There could be one delete each for the CSI Liquor Index and the CSI Alcoholic Drink Index. Plus capping changes for a bunch of stocks.</li>
<li>The entire sector has been under pressure over the last few years with every rally being sold into.</li>
</ul>


The review period ended on 31 October, the changes should be announced on 28 November and will be effective after the close of trading on 12 December.
There could be one delete each for the CSI Liquor Index and the CSI Alcoholic Drink Index. Plus capping changes for a bunch of stocks.
The entire sector has been under pressure over the last few years with every rally being sold into.


CSI Liquor/ Alcoholic Drink Index Rebalance Preview: One Delete & Some Big Capping Changes

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

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Equity Bottom-Up

Shanxi Xinghuacun Fen Wine Factory Co / Equity Bottom-Up

Shanxi Xinghuacun Fen Wine Factory Co (600809 CH)

<ul>
 <li>
Dominant Player in a Niche Segment: Shanxi Fen Wine is the undisputed leader in the light-aroma baijiu category, a unique position that insulates it from direct competition with strong-aroma giants like Moutai and Wuliangye. This leadership, rooted in a long history and strong brand heritage, provides significant pricing power.</li>
 <li>
Successful Premiumization Strategy: The company's focus on high-end products, particularly the 'Qinghua' series, is driving robust revenue growth and significant margin expansion. This strategy effectively captures the ongoing premiumization trend within the Chinese consumer market, where drinkers are increasingly choosing higher-quality spirits.</li>
 <li>
Strong Financial Performance and Shareholder Returns: The company has demonstrated a remarkable growth track record with 5-year CAGRs for revenue and net income at 25.6% and 44.6%, respectively. This financial strength is complemented by a consistently increasing dividend yield, signaling a commitment to shareholder returns.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Dominant Player in a Niche Segment: Shanxi Fen Wine is the undisputed leader in the light-aroma baijiu category, a unique position that insulates it from direct competition with strong-aroma giants like Moutai and Wuliangye. This leadership, rooted in a long history and strong brand heritage, provides significant pricing power.
  
Successful Premiumization Strategy: The company's focus on high-end products, particularly the 'Qinghua' series, is driving robust revenue growth and significant margin expansion. This strategy effectively captures the ongoing premiumization trend within the Chinese consumer market, where drinkers are increasingly choosing higher-quality spirits.
  
Strong Financial Performance and Shareholder Returns: The company has demonstrated a remarkable growth track record with 5-year CAGRs for revenue and net income at 25.6% and 44.6%, respectively. This financial strength is complemented by a consistently increasing dividend yield, signaling a commitment to shareholder returns.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Shanxi Xinghuacun Fen Wine Factory Co (600809 CH) - Sep 2025

Cambricon Technologies  Lt / Index Rebalance

<ul>
<li>With the review cutoff done, there could be three changes for the <a href="https://www.smartkarma.com/entities/ishares-ftse-a50-china-index-etf" target="_blank" data-smartkarma-citation="entities:249:1" rel="noopener">iShares A50 China (2823 HK)</a>/ <a href="https://www.smartkarma.com/entities/csop-ftse-china-a50-etf-26e3b671-fa47-4165-a12e-bf841640c5a3" target="_blank" data-smartkarma-citation="entities:23664:1" rel="noopener">CSOP China A50 (HKD) (2822 HK)</a> ETFs in March.</li>
<li>
<a href="https://www.smartkarma.com/entities/cambricon-technologies-corp-lt" target="_blank" data-smartkarma-citation="entities:31068:1" rel="noopener">Cambricon Technologies</a>, <a href="https://www.smartkarma.com/entities/guotai-junan-securities-co-ltd" target="_blank" data-smartkarma-citation="entities:22740:1" rel="noopener">Guotai Junan Securities</a> and <a href="https://www.smartkarma.com/entities/china-united-network-a" target="_blank" data-smartkarma-citation="entities:12620:1" rel="noopener">China United Network</a> could replace <a href="https://www.smartkarma.com/entities/inner-mongolia-yili-indus-a" target="_blank" data-smartkarma-citation="entities:3220:1" rel="noopener">Inner Mongolia Yili Industrial Group</a>, <a href="https://www.smartkarma.com/entities/cgn-power-co-ltd" target="_blank" data-smartkarma-citation="entities:29504:1" rel="noopener">CGN Power</a> and <a href="https://www.smartkarma.com/entities/luzhou-laojiao-co-ltd-a" target="_blank" data-smartkarma-citation="entities:4536:1" rel="noopener">Luzhou Laojiao</a> in the ETFs.</li>
<li>
<a href="https://www.smartkarma.com/entities/guotai-junan-securities-co-ltd-5dfaf2c5-76d3-4f34-a77d-118787fd7091" target="_blank" data-smartkarma-citation="entities:23752:1" rel="noopener">Guotai Junan Securities (2611 HK)</a> is expected to be added to the <a href="https://www.smartkarma.com/entities/ishares-china-large-cap-etf" target="_blank" data-smartkarma-citation="entities:766:1" rel="noopener">iShares China Large-Cap (FXI) (FXI US)</a> in March, so there should be inflows for the A-shares and H-shares.</li>
</ul>


With the review cutoff done, there could be three changes for the iShares A50 China (2823 HK)/ CSOP China A50 (HKD) (2822 HK) ETFs in March.

Cambricon Technologies, Guotai Junan Securities and China United Network could replace Inner Mongolia Yili Industrial Group, CGN Power and Luzhou Laojiao in the ETFs.

Guotai Junan Securities (2611 HK) is expected to be added to the iShares China Large-Cap (FXI) (FXI US) in March, so there should be inflows for the A-shares and H-shares.


China A50 ETFs Rebalance Preview: China Rally Takes Cambricon Up, Up & Away

Event-Driven

Cambricon Technologies  Lt / Event-Driven

<ul>
<li>With just over a week left to review cutoff, there could be three changes for the <a href="https://www.smartkarma.com/entities/ishares-ftse-a50-china-index-etf" target="_blank" data-smartkarma-citation="entities:249:1" rel="noopener">iShares A50 China (2823 HK)</a>/ <a href="https://www.smartkarma.com/entities/csop-ftse-china-a50-etf-26e3b671-fa47-4165-a12e-bf841640c5a3" target="_blank" data-smartkarma-citation="entities:23664:1" rel="noopener">CSOP China A50 (HKD) (2822 HK)</a> ETFs in March.</li>
<li>
<a href="https://www.smartkarma.com/entities/guotai-junan-securities-co-ltd" target="_blank" data-smartkarma-citation="entities:22740:1" rel="noopener">Guotai Junan Securities</a>, <a href="https://www.smartkarma.com/entities/cambricon-technologies-corp-lt" target="_blank" data-smartkarma-citation="entities:31068:1" rel="noopener">Cambricon Technologies</a> and <a href="https://www.smartkarma.com/entities/saic-motor-corp-ltd-a" target="_blank" data-smartkarma-citation="entities:20833:1" rel="noopener">SAIC Motor</a> could replace <a href="https://www.smartkarma.com/entities/cgn-power-co-ltd" target="_blank" data-smartkarma-citation="entities:29504:1" rel="noopener">CGN Power</a>, <a href="https://www.smartkarma.com/entities/luzhou-laojiao-co-ltd-a" target="_blank" data-smartkarma-citation="entities:4536:1" rel="noopener">Luzhou Laojiao</a> and <a href="https://www.smartkarma.com/entities/inner-mongolia-yili-indus-a" target="_blank" data-smartkarma-citation="entities:3220:1" rel="noopener">Inner Mongolia Yili Industrial Group</a>.</li>
<li>
<a href="https://www.smartkarma.com/entities/guotai-junan-securities-co-ltd-5dfaf2c5-76d3-4f34-a77d-118787fd7091" target="_blank" data-smartkarma-citation="entities:23752:1" rel="noopener">Guotai Junan Securities (2611 HK)</a> is expected to be added to the <a href="https://www.smartkarma.com/entities/ishares-china-large-cap-etf" target="_blank" data-smartkarma-citation="entities:766:1" rel="noopener">iShares China Large-Cap (FXI) (FXI US)</a> in March, so there should be inflows for the A-shares and H-shares.</li>
</ul>


With just over a week left to review cutoff, there could be three changes for the iShares A50 China (2823 HK)/ CSOP China A50 (HKD) (2822 HK) ETFs in March.

Guotai Junan Securities, Cambricon Technologies and SAIC Motor could replace CGN Power, Luzhou Laojiao and Inner Mongolia Yili Industrial Group.

Guotai Junan Securities (2611 HK) is expected to be added to the iShares China Large-Cap (FXI) (FXI US) in March, so there should be inflows for the A-shares and H-shares.


China A50 ETFs Rebalance Preview: Three Changes in March

China

Shanxi Xinghuacun Fen Wine Factory Co., Ltd. operates in the winery business. The Company's products include Fen wine, Zhuyeqing, and other white spirits.

Price Gauge
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Shanxi Xinghuacun Fen Wine Factory Co (600809 CH)

China A50 ETFs Rebalance Preview: Forecast Adds Continue to Outperform

There could be 3 changes for the ETFs in March. Passive impact is not big, but momentum has been strong and the forecast adds have outperformed the...

Brian Freitas

CSI Liquor/ Alcoholic Drink Index Rebalance Preview: One Delete & Some Big Capping Changes

There could be 1 delete from the indices, plus a bunch of capping changes. Both indices have performed terribly over the last few years and have...

Brian Freitas

Primer: Shanxi Xinghuacun Fen Wine Factory Co (600809 CH) - Sep 2025

Dominant Player in a Niche Segment: Shanxi Fen Wine is the undisputed leader in the light-aroma baijiu category, a unique position that...

αSK Primers

China A50 ETFs Rebalance Preview: China Rally Takes Cambricon Up, Up & Away

There could be 3 changes in March. The forecast adds have outperformed the forecast deletes with 2 adds breaking to new highs. Passive impact is...

Brian Freitas

China A50 ETFs Rebalance Preview: Three Changes in March

There could be 3 changes for the China A50 ETFs in March with passive impact ranging from 0.15-1x ADV. The adds have outperformed the deletes....

Brian Freitas

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52-week Range

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