Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Jan 6th (reported today) which has an aggregated short interest worth USD16.0bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Anz, Bhp, Yancoal Australia, Brambles.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jan 6th (reported today) which has an aggregated short interest worth USD16.0bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Anz, Bhp, Yancoal Australia, Brambles.


ASX Short Interest Weekly (Jan 6th): ANZ, Bhp, Yancoal Australi, Brambles

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>In this insight, we take a look at the potential index changes for S&amp;P ASX 20, 50, 100, 200, 300 in the run up to the March 2023 Rebalance.</li>
<li>I expect there to be one, two, and four changes, respectively, for the ASX 20, ASX 100, and ASX 200 indices in the March 2023 Rebalance. </li>
<li>For ASX 300, there could be 14 ADDs and 12 DELs in the March 2023 Rebalance including some high impact names based on days-to-trade.</li>
</ul>


In this insight, we take a look at the potential index changes for S&amp;P ASX 20, 50, 100, 200, 300 in the run up to the March 2023 Rebalance.
I expect there to be one, two, and four changes, respectively, for the ASX 20, ASX 100, and ASX 200 indices in the March 2023 Rebalance. 
For ASX 300, there could be 14 ADDs and 12 DELs in the March 2023 Rebalance including some high impact names based on days-to-trade.


Quiddity Leaderboard-S&P/​​​​​​​​​ASX Mar 23: Multiple Names with Decent Impact

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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pexa-group-ltd" target="_blank" data-smartkarma-citation="entities:34716:1" rel="noopener">PEXA Group (PXA AU)</a> will replace <a href="https://www.smartkarma.com/entities/pendal-group-ltd" target="_blank" data-smartkarma-citation="entities:15795:1" rel="noopener">Pendal Group (PDL AU)</a> in the <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> at the close of trading on 12 January.</li>
<li>Passive <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> trackers will receive <a href="https://www.smartkarma.com/entities/pexa-group-ltd" target="_blank" data-smartkarma-citation="entities:34716:1" rel="noopener">PEXA Group (PXA AU)</a> shares from their <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a> holdings and will have to buy the rest from the market.</li>
<li>There will be selling in <a href="https://www.smartkarma.com/entities/pendal-group-ltd" target="_blank" data-smartkarma-citation="entities:15795:1" rel="noopener">Pendal Group (PDL AU)</a> from <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a> and S&amp;P/ASX 300 Index trackers as well as from global trackers.</li>
</ul>



PEXA Group (PXA AU) will replace Pendal Group (PDL AU) in the S&amp;P/ASX 200 (AS51 INDEX) at the close of trading on 12 January.
Passive S&amp;P/ASX 200 (AS51 INDEX) trackers will receive PEXA Group (PXA AU) shares from their Link Administration (LNK AU) holdings and will have to buy the rest from the market.
There will be selling in Pendal Group (PDL AU) from S&amp;P/ASX 200 (AS51 INDEX) and S&amp;P/ASX 300 Index trackers as well as from global trackers.


ASX200 Index Rebalance: PEXA to Replace Pendal

<ul>
<li>In this insight, we take a look at the potential index changes for S&amp;P ASX 300, 200, 100, 50, and 20 in the run up to the March 2023 Rebalance.</li>
<li>
<a href="https://www.smartkarma.com/entities/pendal-group-ltd" target="_blank" data-smartkarma-citation="entities:15795:1" rel="noopener">Pendal Group (PDL AU)</a>'s deletion is expected in early-January 2023 and this could trigger an intra-review addition to the ASX 200 index. </li>
<li>I expect there to be one, two, and four changes, respectively, for the ASX 20, ASX 100, and ASX 200 indices in the March 2023 Rebalance. </li>
</ul>


In this insight, we take a look at the potential index changes for S&amp;P ASX 300, 200, 100, 50, and 20 in the run up to the March 2023 Rebalance.

Pendal Group (PDL AU)'s deletion is expected in early-January 2023 and this could trigger an intra-review addition to the ASX 200 index. 
I expect there to be one, two, and four changes, respectively, for the ASX 20, ASX 100, and ASX 200 indices in the March 2023 Rebalance. 


S&P/​​​​​​​​ASX Quiddity Leaderboard Mar 23: Index Changes Galore

<ul>
<li>It was a busy Friday with the implementation of the December rebalance for multiple indices. The Yuanta/P-shares Taiwan Dividend Plus ETF will continue to rebalance over the next 4 days.</li>
<li>The coming week should be relatively quiet with the announcement of 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> changes expected.</li>
<li>There were large inflows to ETFs focused on China, Korea, Japan, Taiwan. There were inflows to <a href="https://www.smartkarma.com/entities/hang-seng-china-enterprises-index-etf" target="_blank" data-smartkarma-citation="entities:25:1" rel="noopener">Hang Seng H Share Index ETF</a> and outflows from <a href="https://www.smartkarma.com/entities/tracker-fund-of-hong-kong-ltd" target="_blank" data-smartkarma-citation="entities:29257:1" rel="noopener">Tracker Fund of Hong Kong</a>.</li>
</ul>


It was a busy Friday with the implementation of the December rebalance for multiple indices. The Yuanta/P-shares Taiwan Dividend Plus ETF will continue to rebalance over the next 4 days.
The coming week should be relatively quiet with the announcement of the Stock Exchange of Thailand SET 50 Index (SET50 INDEX) changes expected.
There were large inflows to ETFs focused on China, Korea, Japan, Taiwan. There were inflows to Hang Seng H Share Index ETF and outflows from Tracker Fund of Hong Kong.


Index Rebalance & ETF Flow Recap: S&P/ASX, HSCEI, HSTECH, Haidilao/Super Hi, CSI REIT

Australia

Syrah Resources Limited is a mineral exploration company. The Company's projects provide exposure to graphite, vanadium, mineral sands, copper, coal and uranium.

Price Gauge
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Syrah Resources (SYR AU)

ASX Short Interest Weekly (Jan 6th): ANZ, Bhp, Yancoal Australi, Brambles

We analyzed ASX short interest report for the past week and highlight short interest changes in Anz, Bhp, Yancoal Australi, Brambles.

Ke Yan, CFA, FRM

Quiddity Leaderboard-S&P/ASX Mar 23: Multiple Names with Decent Impact

I expect there to be 40 names involved in the March 2023 Rebalance collectively for the ASX 20, 50, 200, and 300 indices. The majority of these...

Janaghan Jeyakumar, CFA

ASX200 Index Rebalance: PEXA to Replace Pendal

PEXA will replace Pendal in the ASX200 at the close on 12 January. We then expect another 4 index changes in March with impacts ranging from 2.5...

Brian Freitas

S&P/ASX Quiddity Leaderboard Mar 23: Index Changes Galore

Collectively there could be 20+ ADDs/DELs for the S&P ASX 300, 200, 100, 50, and 20 indices between now and the March 2023 Rebalance.

Janaghan Jeyakumar, CFA

Index Rebalance & ETF Flow Recap: S&P/ASX, HSCEI, HSTECH, Haidilao/Super Hi, CSI REIT

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

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ASX Short Interest Weekly (Jan 6th): ANZ, Bhp, Yancoal Australi, Brambles

We analyzed ASX short interest report for the past week and highlight short interest changes in Anz, Bhp, Yancoal Australi, Brambles.

Ke Yan, CFA, FRM

Quiddity Leaderboard-S&P/​​​​​​​​​ASX Mar 23: Multiple Names with Decent Impact

I expect there to be 40 names involved in the March 2023 Rebalance collectively for the ASX 20, 50, 200, and 300 indices. The majority of these...

Janaghan Jeyakumar, CFA

ASX200 Index Rebalance: PEXA to Replace Pendal

PEXA will replace Pendal in the ASX200 at the close on 12 January. We then expect another 4 index changes in March with impacts ranging from 2.5...

Brian Freitas

S&P/​​​​​​​​ASX Quiddity Leaderboard Mar 23: Index Changes Galore

Collectively there could be 20+ ADDs/DELs for the S&P ASX 300, 200, 100, 50, and 20 indices between now and the March 2023 Rebalance.

Janaghan Jeyakumar, CFA

Index Rebalance & ETF Flow Recap: S&P/ASX, HSCEI, HSTECH, Haidilao/Super Hi, CSI REIT

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

Brian Freitas

Quiddity Leaderboard-S&P/ASX Mar 23: Multiple Names with Decent Impact

S&P/ASX Quiddity Leaderboard Mar 23: Index Changes Galore