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>There are 4 stocks listed in Malaysia and Thailand that could be deleted from passive portfolios in August.</li>
<li>There is a fair bit to sell in the stocks with over US$70m flow and between 10.7-44.5x ADV.</li>
<li>The positioning in most stocks does not cover the estimated passive selling and there could be more selling over the next few weeks.</li>
</ul>


There are 4 stocks listed in Malaysia and Thailand that could be deleted from passive portfolios in August.
There is a fair bit to sell in the stocks with over US$70m flow and between 10.7-44.5x ADV.
The positioning in most stocks does not cover the estimated passive selling and there could be more selling over the next few weeks.


Southeast Asia: Potential Global Index Deletions in August

Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<ul>
<li>EV Adoption in ASEAN is low compared to developed markets, however, development of a robust EV ecosystem remains a primary goal for the respective nations.</li>
<li>Governments in the region continues to introduce new policy measures and offer incentives to promote the sector, while companies continue to attract large investment to develop the EV market.</li>
<li>The four companies we looked at have reported earnings and we have discussed their latest results and our investment thesis.</li>
</ul>


EV Adoption in ASEAN is low compared to developed markets, however, development of a robust EV ecosystem remains a primary goal for the respective nations.
Governments in the region continues to introduce new policy measures and offer incentives to promote the sector, while companies continue to attract large investment to develop the EV market.
The four companies we looked at have reported earnings and we have discussed their latest results and our investment thesis.


ASEAN EV Ecosystem Update: Progressing Towards a Robust EV Ecosystem

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>After a close to a 40% 1 year share price performance, the Bermaz<a href="https://www.smartkarma.com/entities/bermaz-auto-berhad" target="_blank" data-smartkarma-citation="entities:14850:1" rel="noopener"> Auto (BAUTO MK)</a> share price could look a little expensive. </li>
<li>Valuations are not too undemanding, and the near-term catalysts seem to be working, and are margins accretive as well. </li>
<li>For dividend, start accumulating, while for capital appreciation, let's wait for the next quarter to determine whether the recent spike is not a fluke. </li>
</ul>


After a close to a 40% 1 year share price performance, the Bermaz Auto (BAUTO MK) share price could look a little expensive. 
Valuations are not too undemanding, and the near-term catalysts seem to be working, and are margins accretive as well. 
For dividend, start accumulating, while for capital appreciation, let's wait for the next quarter to determine whether the recent spike is not a fluke. 


Bermaz Auto (BAUTO): Recovery on the Way?

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul><li>KKR is strategically investing in Japan's real estate sector amid rising energy costs and market challenges.</li><li>Mapletree is set to close its $1.3 billion student housing fund due to underwhelming performance metrics.</li><li>In Vietnam, BW Industrial aims to develop 700MW in data centers, while Sun Hung Kai Properties secures $2.6 billion refinancing.</li></ul>

KKR is strategically investing in Japan's real estate sector amid rising energy costs and market challenges.Mapletree is set to close its $1.3 billion student housing fund due to underwhelming performance metrics.In Vietnam, BW Industrial aims to develop 700MW in data centers, while Sun Hung Kai Properties secures $2.6 billion refinancing.

Asia Real Estate Tracker (27-Mar-2026): KKR invests in Japan real estate amid risks.

<ul><li>Sun Hung Kai Properties has secured $2.6 billion in refinancing, impacting the APAC real estate market.</li><li>Daiwa Office REIT has acquired a Tokyo building for $167 million in a deal linked to Blackstone.</li><li>Japan Hotel REIT announced a 28.5% payout increase due to rising tourism and plans to renovate the Tokyo Hyatt.</li></ul>

Sun Hung Kai Properties has secured $2.6 billion in refinancing, impacting the APAC real estate market.Daiwa Office REIT has acquired a Tokyo building for $167 million in a deal linked to Blackstone.Japan Hotel REIT announced a 28.5% payout increase due to rising tourism and plans to renovate the Tokyo Hyatt.

Asia Real Estate Tracker (26-Mar-2026): Sun Hung Kai Properties scores $2.6B refinancing deal.

Malaysia

Sime Darby Berhad is an investment holding company. The Group's principal activities include plantations, property development, heavy equipment and motor vehicle distribution, and energy and utilities.

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Sime Darby (SIME MK)

Southeast Asia: Potential Global Index Deletions in August

There are 4 stocks listed in Malaysia and Thailand that could be deleted from passive portfolios in August. Positioning has increased but appears...

Brian Freitas

ASEAN EV Ecosystem Update: Progressing Towards a Robust EV Ecosystem

Development of a robust EV ecosystem remains a primary goal and the governments in the ASEAN region continue to introduce new policy measures and...

Shifara Samsudeen, FCMA, CGMA

Bermaz Auto (BAUTO): Recovery on the Way?

Bermaz Auto recovery this year has been fantastic - especially when FY 2025 result was very poor. For dividend - start accumulating while for...

Henry Soediarko

Asia Real Estate Tracker (27-Mar-2026): KKR invests in Japan real estate amid risks.

KKR invests in Japan's real estate amid rising energy costs, while Mapletree closes its student housing fund, Centaline buys a hotel, and BW...

Asia Real Estate Tracker

Asia Real Estate Tracker (26-Mar-2026): Sun Hung Kai Properties scores $2.6B refinancing deal.

Sun Hung Kai Properties secured $2.6 billion in refinancing, while Daiwa Office REIT bought a Tokyo building for $167 million, and Japan Hotel REIT...

Asia Real Estate Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Southeast Asia: Potential Global Index Deletions in August

There are 4 stocks listed in Malaysia and Thailand that could be deleted from passive portfolios in August. Positioning has increased but appears...

Brian Freitas

ASEAN EV Ecosystem Update: Progressing Towards a Robust EV Ecosystem

​Development of a robust EV ecosystem remains a primary goal and the governments in the ASEAN region continue to introduce new policy measures and...

Shifara Samsudeen, FCMA, CGMA

Bermaz Auto (BAUTO): Recovery on the Way?

Bermaz Auto recovery this year has been fantastic - especially when FY 2025 result was very poor. For dividend - start accumulating while for...

Henry Soediarko

Asia Real Estate Tracker (27-Mar-2026): KKR invests in Japan real estate amid risks.

KKR invests in Japan's real estate amid rising energy costs, while Mapletree closes its student housing fund, Centaline buys a hotel, and BW...

Asia Real Estate Tracker

Asia Real Estate Tracker (26-Mar-2026): Sun Hung Kai Properties scores $2.6B refinancing deal.

Sun Hung Kai Properties secured $2.6 billion in refinancing, while Daiwa Office REIT bought a Tokyo building for $167 million, and Japan Hotel REIT...

Asia Real Estate Tracker

Development of a robust EV ecosystem remains a primary goal and the governments in the ASEAN region continue to introduce new policy measures and...