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>
<a href="https://www.smartkarma.com/entities/baf-vietnam-agriculture-joint-stock-company" target="_blank" data-smartkarma-citation="entities:45291" rel="noopener">BAF Vietnam Agriculture (BAF VN)</a> will be added to the MarketVector Vietnam Local Index at the close on 20 June.</li>
<li>Estimated one-way turnover is 9% and that results in a round-trip trade of US$74m. There are 5 stocks with more than 1x ADV to trade from passives.</li>
<li>
<a href="https://www.smartkarma.com/entities/vingroup-jsc" target="_blank" data-smartkarma-citation="entities:13213:1" rel="noopener">Vingroup Jsc (VIC VN)</a> and <a href="https://www.smartkarma.com/entities/vinhomes-jsc" target="_blank" data-smartkarma-citation="entities:27079:1" rel="noopener">Vinhomes (VHM VN)</a> stock prices have soared over the last few months and capping results in selling at this rebalance.</li>
</ul>



BAF Vietnam Agriculture (BAF VN) will be added to the MarketVector Vietnam Local Index at the close on 20 June.
Estimated one-way turnover is 9% and that results in a round-trip trade of US$74m. There are 5 stocks with more than 1x ADV to trade from passives.

Vingroup Jsc (VIC VN) and Vinhomes (VHM VN) stock prices have soared over the last few months and capping results in selling at this rebalance.


MarketVector Vietnam Local Index Rebalance: One Add, Capping & Float Changes

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>HSX recently announced updates to VN30 Index, VNDiamond Index, and VNFin Lead Index components, including changes in stocks and calculation factors.</li><li>The new indexes will take effect on November 4, 2024, with rebalancing set for November 1.</li><li>ETFs tracking these indexes will adjust their portfolios from October 28 to November 1.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

HSX recently announced updates to VN30 Index, VNDiamond Index, and VNFin Lead Index components, including changes in stocks and calculation factors.The new indexes will take effect on November 4, 2024, with rebalancing set for November 1.ETFs tracking these indexes will adjust their portfolios from October 28 to November 1.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Metals, Ores, and Mining Firms, Mint Finance

Pranay Yadav

Metals, Ores, and Mining Firms

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Cross Asset Strategy

<ul>
<li>Vietnam is streamlining transactions for foreign investors through market reforms as it seeks reclassification from frontier to emerging market status, a change that could drive substantial inflows into its equities.</li>
<li>Vietnam's strategic location, low labor costs, and "China Plus One" strategy make it a key player in global manufacturing. Strong domestic growth suggests equity upside.</li>
<li>The iEdge Vietnam 30 Sector Cap Index provides exposure to Real Estate, Financial Services, and Manufacturing. The index’s forward P/E of 13.65 suggests strong earnings growth ahead.</li>
</ul>


Vietnam is streamlining transactions for foreign investors through market reforms as it seeks reclassification from frontier to emerging market status, a change that could drive substantial inflows into its equities.
Vietnam's strategic location, low labor costs, and "China Plus One" strategy make it a key player in global manufacturing. Strong domestic growth suggests equity upside.
The iEdge Vietnam 30 Sector Cap Index provides exposure to Real Estate, Financial Services, and Manufacturing. The index’s forward P/E of 13.65 suggests strong earnings growth ahead.


Vietnam's Equities Poised To Recover On The Back Of Potential Market Upgrade And Easing Overhang

<ul><li>The HSX recently announced updates to the component securities (including changes in component stocks and calculation factors) in the VN30 Index, VNDiamond Index, and VNFin Lead Index baskets. In detail, these changes will affect component weighting in specific baskets.</li><li>Thus, ETFs that replicate the respective indexes will also undergo similar structural changes in their baskets of component securities on the rebalancing date.</li><li>For the VN30 Index and VNDiamond Index, there are no changes in any component stocks, only changes in their calculation factors. </li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

The HSX recently announced updates to the component securities (including changes in component stocks and calculation factors) in the VN30 Index, VNDiamond Index, and VNFin Lead Index baskets. In detail, these changes will affect component weighting in specific baskets.Thus, ETFs that replicate the respective indexes will also undergo similar structural changes in their baskets of component securities on the rebalancing date.For the VN30 Index and VNDiamond Index, there are no changes in any component stocks, only changes in their calculation factors. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul>
<li>There are no constituent changes for the index but there are float and capping changes that will be implemented at the close on 15 September.</li>
<li>Estimated one-way turnover is 3.3% and the one-way trade is US$21.5m. There are eight stocks where passive trackers need to trade over 1 day of ADV.</li>
<li>After large creations for <a href="https://www.smartkarma.com/entities/market-vectors-vietnam-etf" target="_blank" data-smartkarma-citation="entities:648:1" rel="noopener">Market Vectors Vietnam ETF (VNM US)</a> at the start of the year, there has not been a lot of follow-on activity as the market moves higher.</li>
</ul>


There are no constituent changes for the index but there are float and capping changes that will be implemented at the close on 15 September.
Estimated one-way turnover is 3.3% and the one-way trade is US$21.5m. There are eight stocks where passive trackers need to trade over 1 day of ADV.
After large creations for Market Vectors Vietnam ETF (VNM US) at the start of the year, there has not been a lot of follow-on activity as the market moves higher.


MarketVector Vietnam Local Index Rebalance: Some Big Impact Changes

Vietnam

SSI Securities Corporation offers investment banking and securities brokerage services.  The Company offers corporate finance advisory and capital raising services, mergers and acquisitions advice, and equity research, sales and trading services.

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SSI Securities Corporation (SSI VN)

MarketVector Vietnam Local Index Rebalance: One Add, Capping & Float Changes

One add and large capping changes result in one-way turnover of 9% and a round-trip trade of US$74m. Vingroup and Vinhomes stock prices have soared...

Brian Freitas

ETFs Monitor in 4Q24

HSX recently announced updates to VN30 Index, VNDiamond Index, and VNFin Lead Index components, including changes in stocks and calculation factors.

Mirae Asset Securities

Vietnam's Equities Poised To Recover On The Back Of Potential Market Upgrade And Easing Overhang

Vietnam’s investment case is bolstered by its global manufacturing appeal, concentrated sector opportunities with promising growth, and early signs...

Mint Finance

ETFs Monitor in 1Q24

he HSX recently announced updates to the component securities (including changes in component stocks and calculation factors) in the VN30 Index

Mirae Asset Securities

MarketVector Vietnam Local Index Rebalance: Some Big Impact Changes

Float and capping changes lead to an estimated one-way turnover is 3.3% and a one-way trade is US$21.5m. There are eight stocks where passive...

Brian Freitas

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