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

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/thai-life-insurance" target="_blank" data-smartkarma-citation="entities:34915:1" rel="noopener">Thai Life Insurance (TLI TB)</a> raised over US$1bn in its IPO and has started trading on the SET today.</li>
<li>At the last trade price of THB 16/share, <a href="https://www.smartkarma.com/entities/thai-life-insurance" target="_blank" data-smartkarma-citation="entities:34915:1" rel="noopener">Thai Life Insurance (TLI TB)</a> is a borderline Fast Entry add to the <a href="https://www.smartkarma.com/entities/stock-exchange-of-thailand-set-50-index" target="_blank" data-smartkarma-citation="entities:31493:1" rel="noopener">Stock Exchange of Thailand SET 50 Index (SET50 INDEX)</a>.</li>
<li>If <a href="https://www.smartkarma.com/entities/thai-life-insurance" target="_blank" data-smartkarma-citation="entities:34915:1" rel="noopener">Thai Life Insurance (TLI TB)</a> is added to the index, <a href="https://www.smartkarma.com/entities/bangkok-life-assurance-pcl" target="_blank" data-smartkarma-citation="entities:16237:1" rel="noopener">Bangkok Life Assurance (BLA TB)</a> is the most likely deletion.</li>
</ul>



Thai Life Insurance (TLI TB) raised over US$1bn in its IPO and has started trading on the SET today.
At the last trade price of THB 16/share, Thai Life Insurance (TLI TB) is a borderline Fast Entry add to the Stock Exchange of Thailand SET 50 Index (SET50 INDEX).
If Thai Life Insurance (TLI TB) is added to the index, Bangkok Life Assurance (BLA TB) is the most likely deletion.


Thai Life Insurance (TLI): Borderline SET50 Fast Entry

Founder & Chief Market Strategist - SAV Markets, SAV Markets

Shyam Devani

Founder & Chief Market Strategist - SAV Markets

Provide Comprehensive Analysis & Commentary

SAV Markets

SAV Markets aims to provide comprehensive analysis & commentary on foreign exchange and asset markets. The approach is multi asset as markets are typically interlinked. Cause and effect are always at work, even if those effects take time to manifest. As nothing is permanent we strive to get ahead of the curve in an ever changing world.

Technical Analysis

<ul>
<li>Numerous New Year developments suggest markets are heading towards a world where the worst of the Covid might be behind us and a better growth trajectory awaits</li>
<li>Yields have moved higher, airlines &amp; transport have performed well, Oil is up, and some Asian markets have started to rebound or breakout – Australia, Vietnam &amp; India as examples</li>
<li>This brings Thailand in focus as one of the major tourist destinations. The charts below show the breakouts and potential trends at work</li>
</ul>


Numerous New Year developments suggest markets are heading towards a world where the worst of the Covid might be behind us and a better growth trajectory awaits
Yields have moved higher, airlines &amp; transport have performed well, Oil is up, and some Asian markets have started to rebound or breakout – Australia, Vietnam &amp; India as examples
This brings Thailand in focus as one of the major tourist destinations. The charts below show the breakouts and potential trends at work


As the USD falls throughout a lot of Asian markets, Asian equity indices are stabilising and performing better. One of the clearest pictures is in Thailand where USDTHB has taken out key levels and looks to be heading much lower still. It is with this in mind that we turn to Thailand's SET Index which is now retesting the highs from earlier this year.

As the USD falls throughout a lot of Asian markets, Asian equity indices are stabilising and performing better. One of the clearest pictures is in Thailand where USDTHB has taken out key levels and looks to be heading much lower still. It is with this in mind that we turn to Thailand's SET Index which is now retesting the highs from earlier this year.

Index Rebalance

<a href="https://www.smartkarma.com/entities/scg-packaging-public-company-limited" target="_blank" data-smartkarma-citation="entities:28684:1" rel="noopener">SCG Packaging (SCGP TB)</a> listed today on the Stock Exchange of Thailand (SET). No big bang opening day for the stock as it opened at the highs and quickly sold off to trade a tick or two above its IPO price of THB 35/share for most of the day.<a href="https://www.smartkarma.com/entities/scg-packaging-public-company-limited" target="_blank" data-smartkarma-citation="entities:28684:1" rel="noopener">SCG Packaging (SCGP TB)</a> traded 329.77m shares on the day at a VWAP of THB 35.9505. Bulk of the volume traded in the opening auction at THB 37.At the close of trading, SCGP traded at THB 35/share, probably supported by the greenshoe. That gave <a href="https://www.smartkarma.com/entities/scg-packaging-public-company-limited" target="_blank" data-smartkarma-citation="entities:28684:1" rel="noopener">SCG Packaging (SCGP TB)</a> a full market cap of THB 148.874bn placing it at rank 20 among the SET50 constituents and ensuring its market cap was more than 1% of the market cap of the <a href="https://www.smartkarma.com/entities/stock-exchange-of-thailand-set-index" target="_blank" data-smartkarma-citation="entities:22915:1" rel="noopener">Thailand SET Index (SET INDEX)</a> - 1.16% from our calculations. With a free float of 29.51%, the stock met all conditions for Fast Entry into the index.SET has just <a href="https://www.set.or.th/th/market/files/constituents/SET50_100_H2_2020_revised.pdf" target="_blank" rel="noopener">announced</a> the changes to the SET50 Index where <a href="https://www.smartkarma.com/entities/scg-packaging-public-company-limited" target="_blank" data-smartkarma-citation="entities:28684:1" rel="noopener">SCG Packaging (SCGP TB)</a> has been added and <a href="https://www.smartkarma.com/entities/thanachart-capital-pcl" target="_blank" data-smartkarma-citation="entities:297:1" rel="noopener">Thanachart Capital (TCAP TB)</a> has been deleted. The changes will need to be made at the close of trading on 27 October.The inclusion also affects the stocks to be included and excluded at the regular index review in December.

SCG Packaging (SCGP TB) listed today on the Stock Exchange of Thailand (SET). No big bang opening day for the stock as it opened at the highs and quickly sold off to trade a tick or two above its IPO price of THB 35/share for most of the day.SCG Packaging (SCGP TB) traded 329.77m shares on the day at a VWAP of THB 35.9505. Bulk of the volume traded in the opening auction at THB 37.At the close of trading, SCGP traded at THB 35/share, probably supported by the greenshoe. That gave SCG Packaging (SCGP TB) a full market cap of THB 148.874bn placing it at rank 20 among the SET50 constituents and ensuring its market cap was more than 1% of the market cap of the Thailand SET Index (SET INDEX) - 1.16% from our calculations. With a free float of 29.51%, the stock met all conditions for Fast Entry into the index.SET has just announced the changes to the SET50 Index where SCG Packaging (SCGP TB) has been added and Thanachart Capital (TCAP TB) has been deleted. The changes will need to be made at the close of trading on 27 October.The inclusion also affects the stocks to be included and excluded at the regular index review in December.

<a href="https://www.smartkarma.com/entities/scg-packaging-public-company-limited" target="_blank" data-smartkarma-citation="entities:28684:1" rel="noopener">SCG Packaging (SCGP TB)</a>, Thailand's largest packaging company, is looking to raise between THB 37.77-39.46bn (US$1.21-1.26bn) via a listing on the Stock Exchange of Thailand (SET) by selling 1.127bn shares (plus a greenshoe of 169m shares) at a price range of THB 33.5-35/share.Shares will be offered to investors between 28 September and 14 October with final pricing to be announced on 8 October and shares should begin trading in the second half of October.Using current market prices, the stock should be included in the SET50 index at the close on its third day of trading, but the final decision is dependent on <a href="https://www.smartkarma.com/entities/scg-packaging-public-company-limited" target="_blank" data-smartkarma-citation="entities:28684:1" rel="noopener">SCG Packaging (SCGP TB)</a>'s closing price on its first trading day and also on the performance of the current constituents of the SET50 index and the <a href="https://www.smartkarma.com/entities/stock-exchange-of-thailand-set-index" target="_blank" data-smartkarma-citation="entities:22915:1" rel="noopener">Thailand SET Index (SET INDEX)</a>.In this Insight, we take a look at the some of the IPO details and the possibility of the stock being included in the SET50 index.

SCG Packaging (SCGP TB), Thailand's largest packaging company, is looking to raise between THB 37.77-39.46bn (US$1.21-1.26bn) via a listing on the Stock Exchange of Thailand (SET) by selling 1.127bn shares (plus a greenshoe of 169m shares) at a price range of THB 33.5-35/share.Shares will be offered to investors between 28 September and 14 October with final pricing to be announced on 8 October and shares should begin trading in the second half of October.Using current market prices, the stock should be included in the SET50 index at the close on its third day of trading, but the final decision is dependent on SCG Packaging (SCGP TB)'s closing price on its first trading day and also on the performance of the current constituents of the SET50 index and the Thailand SET Index (SET INDEX).In this Insight, we take a look at the some of the IPO details and the possibility of the stock being included in the SET50 index.

SCG Packaging and SET50 Fast Entry Inclusion: In The Box

Thailand

The Bangkok SET Index is a capitalization-weighted index of stocks traded on the Stock Exchange of Thailand. The index was developed with a base value of 100 as of April 30, 1975. 

Thailand SET Index (SET INDEX)

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SCG Packaging and SET50 Fast Entry Inclusion: In The Box

SCG Packaging (SCGP TB)

Brian Freitas