Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Sinopep-Allsino Bio Pharmaceutical / Index Rebalance

Sinopep-Allsino Bio Pharmaceutical (688076 CH)

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.</li>
<li>In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2024.</li>
<li>We expect up to five ADDs and five DELs for the CSI Medical Service index during this index rebal event based on the latest available data.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.
In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2024.
We expect up to five ADDs and five DELs for the CSI Medical Service index during this index rebal event based on the latest available data.


Quiddity Leaderboard CSI Medical Service Dec 24: US$271mn One-Way; 1x-4x ADV to Trade for Most Names

<ul>
<li>STAR 50 index is a tech-focused, blue-chip index in Mainland China which tracks the top 50 largest and most liquid names in the STAR market of the Shanghai Stock Exchange.</li>
<li>STAR 100 index tracks the next 100 names (51st-150th ranks) and it represents the mid-cap segment of the STAR market.</li>
<li>In this insight, we take a look at the potential ADDs/DELs for the STAR 50 and STAR 100 indices for the December 2024 index rebal event.</li>
</ul>


STAR 50 index is a tech-focused, blue-chip index in Mainland China which tracks the top 50 largest and most liquid names in the STAR market of the Shanghai Stock Exchange.
STAR 100 index tracks the next 100 names (51st-150th ranks) and it represents the mid-cap segment of the STAR market.
In this insight, we take a look at the potential ADDs/DELs for the STAR 50 and STAR 100 indices for the December 2024 index rebal event.


Quiddity Leaderboard STAR 50/100 Dec 24: Shocking Changes to Expectations After Wild Market Swings

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

Xiamen Amoytop Biotech Co Ltd / Index Rebalance

Xiamen Amoytop Biotech Co Ltd (688278 CH)

<ul>
<li>90% of the way through the review period, there could be 1 change for the <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">SSE STAR50 (STAR50 INDEX)</a> and 5 changes for the STAR100 Index.</li>
<li>We estimate turnover of 1% for the <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 INDEX</a> and 5.5% for the STAR100 Index. The net round-trip trade is CNY 3.2bn (US$453m).</li>
<li>The forecast add to the <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">SSE STAR50 (STAR50 INDEX)</a> has massively outperformed the forecast deletion from the index over the last two months.</li>
</ul>


90% of the way through the review period, there could be 1 change for the SSE STAR50 (STAR50 INDEX) and 5 changes for the STAR100 Index.
We estimate turnover of 1% for the STAR50 INDEX and 5.5% for the STAR100 Index. The net round-trip trade is CNY 3.2bn (US$453m).
The forecast add to the SSE STAR50 (STAR50 INDEX) has massively outperformed the forecast deletion from the index over the last two months.


STAR50/STAR100 Index Rebalance Preview: Massive Outperformance in Last Two Months; Time to Unwind?

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.</li>
<li>In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2024.</li>
<li>We expect up to five ADDs and five DELs for the CSI Medical Service index during this index review event based on the latest available data.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.
In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2024.
We expect up to five ADDs and five DELs for the CSI Medical Service index during this index review event based on the latest available data.


Quiddity Leaderboard CSI Medical Dec 24: 5 Changes Possible; Exp ADDs yet to Outperform Exp DELs

Quiddity Leaderboard STAR 50/100 Dec 24: STAR 50 Exp ADD Could Outperform STAR 50 Exp DEL

China

Sinopep-Allsino Bio Pharmaceutical Co.,Ltd. researches, develops, manufactures, and sells peptide drugs and small molecule drugs. The Company produces liraglutide, somalutide, alogliptin benzoate, bivalirudin, eptifibatide, and more. Sinopep-Allsino Bio Pharmaceutical applies its products in treatment of diabetes, cardiovascular diseases, tumors, and other fields.

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Sinopep-Allsino Bio Pharmaceutical (688076 CH)

Quiddity Leaderboard CSI Medical Service Dec 24: US$271mn One-Way; 1x-4x ADV to Trade for Most Names

We estimate the CSI Medical December 2024 index rebalance to trigger flows of US$271mn one-way. Most of the expected ADDs/DELs have 1x-4x ADV to...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard STAR 50/100 Dec 24: Shocking Changes to Expectations After Wild Market Swings

We previously had one expected ADD/DEL for STAR 50 but we do not expect that change to take place now. We also had 6 expected ADDs/DELs for STAR...

Janaghan Jeyakumar, CFA

STAR50/STAR100 Index Rebalance Preview: Massive Outperformance in Last Two Months; Time to Unwind?

We forecast 1 change for the STAR50 and 5 changes for the STAR100. There is over 9x ADV to trade on the STAR50 changes. The net round-trip trade is...

Brian Freitas

Quiddity Leaderboard CSI Medical Dec 24: 5 Changes Possible; Exp ADDs yet to Outperform Exp DELs

We expect US$187mn one-way flows. Most of the expected ADDs/DELs have 1x-4x ADV to trade. The expected ADDs have failed to outperform the the...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard STAR 50/100 Dec 24: STAR 50 Exp ADD Could Outperform STAR 50 Exp DEL

The expected STAR 50 ADD and DEL could see net index buying of 14x ADV and net index selling of 8x ADV respectively during the STAR 50/100 index...

Janaghan Jeyakumar, CFA

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