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

Hong Kong Exchanges and Clearing / Index Rebalance

Hong Kong Exchanges and Clearing (388 HK)

<ul>
<li>The FRTIB benchmark switch from the EAFE Index to the ACWI IMI ex-USA ex-China ex-Hong Kong Index will result in a round trip trade of around US$56bn.</li>
<li>The changes for the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-inde" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">CSI 300</a>, <a href="https://www.smartkarma.com/entities/csi-smallcap-500-index-shang" target="_blank" data-smartkarma-citation="entities:35347:1" rel="noopener">CSI 500</a>, <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">STAR50</a>, <a href="https://www.smartkarma.com/entities/shanghai-stock-exchange-sse-50-a-share-index" target="_blank" data-smartkarma-citation="entities:31073:1" rel="noopener">SSE50</a> and a bunch of other mainland China indices will be announced after market close on Friday.</li>
<li>Relatively quiet week for ETF flows with no major creations or redemptions during the week.</li>
</ul>


The FRTIB benchmark switch from the EAFE Index to the ACWI IMI ex-USA ex-China ex-Hong Kong Index will result in a round trip trade of around US$56bn.
The changes for the CSI 300, CSI 500, STAR50, SSE50 and a bunch of other mainland China indices will be announced after market close on Friday.
Relatively quiet week for ETF flows with no major creations or redemptions during the week.


Index Rebalance & ETF Flow Recap: FRTIB, Japan, CSI300, CSI500, STAR50, WuXi XDC, Asahi

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Shopify Inc. reported robust first-quarter 2026 financial results, demonstrating continued strong growth across its commerce platform.</li><li>Gross merchandise volume (GMV) reached $101 billion, a 35% year-over-year increase and the second consecutive quarter with merchant sales exceeding $100 billion.</li><li>Revenue grew 34% to $3.2 billion, supported by broad-based growth across geographies, merchant sizes, and sales channels.</li></ul>

Shopify Inc. reported robust first-quarter 2026 financial results, demonstrating continued strong growth across its commerce platform.Gross merchandise volume (GMV) reached $101 billion, a 35% year-over-year increase and the second consecutive quarter with merchant sales exceeding $100 billion.Revenue grew 34% to $3.2 billion, supported by broad-based growth across geographies, merchant sizes, and sales channels.

Shopify: Can AI-Powered Discovery Transform Merchant Sales and Buyer Acquisition?

<ul><li>Shopify's financial results for the fourth quarter of 2025 and full year provide a comprehensive view of its current performance and strategic direction.</li><li>In 2025, Shopify achieved significant milestones, delivering the highest quarterly revenue in its history and showing substantial growth both in North America and internationally.</li><li>Its revenue in 2025 increased by 30% year-over-year to $11.6 billion, with Q4 alone contributing over $3 billion, a notable achievement when compared to past performances.</li></ul>

Shopify's financial results for the fourth quarter of 2025 and full year provide a comprehensive view of its current performance and strategic direction.In 2025, Shopify achieved significant milestones, delivering the highest quarterly revenue in its history and showing substantial growth both in North America and internationally.Its revenue in 2025 increased by 30% year-over-year to $11.6 billion, with Q4 alone contributing over $3 billion, a notable achievement when compared to past performances.

Global Expansion Engine: How Shopify Is Systematically Scaling Beyond North America!

<ul><li>Shopify's third-quarter results for 2025 highlight several strategic themes that underlie its current performance and future prospects, balanced by some challenges and considerations that investors should weigh.</li><li>On the positive side, Shopify reported a significant 32% growth in gross merchandise volume (GMV) and revenue, with a notable 38% increase in Merchant Solutions revenue.</li><li>This was largely driven by the rising adoption of Shopify Payments, which has reached a penetration rate of 65%.</li></ul>

Shopify's third-quarter results for 2025 highlight several strategic themes that underlie its current performance and future prospects, balanced by some challenges and considerations that investors should weigh.On the positive side, Shopify reported a significant 32% growth in gross merchandise volume (GMV) and revenue, with a notable 38% increase in Merchant Solutions revenue.This was largely driven by the rising adoption of Shopify Payments, which has reached a penetration rate of 65%.

Shopify BREAKS DOWN On Cyber Monday: Can It Afford Another Slip-Up?

<ul><li>Shopify's third quarter of 2025 demonstrated continued momentum, showcasing both growth and expansion across various facets of its business model.</li><li>The key areas of focus included GMV growth, increased international reach, integration of AI, and bolstering merchant solutions, which combined to drive financial success and reinforce Shopify's position in the global e-commerce ecosystem.</li><li>During the quarter, Shopify achieved a 32% growth in Gross Merchandise Volume (GMV), which was bolstered by significant contributions from both smaller merchants and larger enterprise-size clients.</li></ul>

Shopify's third quarter of 2025 demonstrated continued momentum, showcasing both growth and expansion across various facets of its business model.The key areas of focus included GMV growth, increased international reach, integration of AI, and bolstering merchant solutions, which combined to drive financial success and reinforce Shopify's position in the global e-commerce ecosystem.During the quarter, Shopify achieved a 32% growth in Gross Merchandise Volume (GMV), which was bolstered by significant contributions from both smaller merchants and larger enterprise-size clients.

Shopify Surges as AI-Driven Traffic Skyrockets—A Massive Shift Is Underway!

Canada

Shopify Inc. provides a cloud-based commerce platform. The Company offers a platform for merchants to create an omni-channel experience that helps showcase the merchant's brand. Shopify serves customers in Canada.

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Shopify (SHOP CN)

Index Rebalance & ETF Flow Recap: FRTIB, Japan, CSI300, CSI500, STAR50, WuXi XDC, Asahi

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

Shopify: Can AI-Powered Discovery Transform Merchant Sales and Buyer Acquisition?

Shopify Inc. reported robust first-quarter 2026 financial results, demonstrating continued strong growth across its commerce platform. Gross...

Baptista Research

Global Expansion Engine: How Shopify Is Systematically Scaling Beyond North America!

Shopify's financial results for the fourth quarter of 2025 and full year provide a comprehensive view of its current performance and strategic...

Baptista Research

Shopify BREAKS DOWN On Cyber Monday: Can It Afford Another Slip-Up?

Shopify's third-quarter results for 2025 highlight several strategic themes that underlie its current performance and future prospects, balanced...

Baptista Research

Shopify Surges as AI-Driven Traffic Skyrockets—A Massive Shift Is Underway!

Shopify's third quarter of 2025 demonstrated continued momentum, showcasing both growth and expansion across various facets of its business...

Baptista Research

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