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/jx-advanced-metals-corporation" target="_blank" data-smartkarma-citation="entities:44346:1" rel="noopener">JX Advanced Metals (5016 JP)</a> listed in March and did not get Fast Entry to global indices since a large part of the IPO was allotted to domestic retail investors.</li>
<li>
<a href="https://www.smartkarma.com/entities/jx-advanced-metals-corporation" target="_blank" data-smartkarma-citation="entities:44346:1" rel="noopener">JX Advanced Metals (5016 JP)</a> will be added to one global index this month and could be added to the other global index in September.</li>
<li>The stock is trading higher following the better than forecast results announced last week. The index inclusions could take the stock higher in the short-term.</li>
</ul>



JX Advanced Metals (5016 JP) listed in March and did not get Fast Entry to global indices since a large part of the IPO was allotted to domestic retail investors.

JX Advanced Metals (5016 JP) will be added to one global index this month and could be added to the other global index in September.
The stock is trading higher following the better than forecast results announced last week. The index inclusions could take the stock higher in the short-term.


JX Advanced Metals (5016 JP): Passive Buying in the Next 6 Weeks

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Core Concept Technologies Inc / Index Rebalance

<ul>
<li>Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.</li>
<li>
<a href="https://www.smartkarma.com/entities/gmo-financial-gate-inc" target="_blank" data-smartkarma-citation="entities:35234:1" rel="noopener">GMO Financial Gate (4051 JP)</a>, <a href="https://www.smartkarma.com/entities/azoom-co-ltd" target="_blank" data-smartkarma-citation="entities:32232:1" rel="noopener">Azoom (3496 JP)</a> and <a href="https://www.smartkarma.com/entities/kitazato-corp" target="_blank" data-smartkarma-citation="entities:45255:1" rel="noopener">Kitazato (368A JP)</a> (recent IPO) were included in the TOPIX index at the end of July 2025.</li>
<li>Our long-term pre-event candidate Core Concept Technologies Inc (4371 JP) is getting close to meeting the key Section Transfer requirements.</li>
</ul>


Quiddity's "Who is Ready" series of insights aims to objectively identify names listed on the Tokyo Stock Exchange that are potential additions to the TOPIX Index in future.

GMO Financial Gate (4051 JP), Azoom (3496 JP) and Kitazato (368A JP) (recent IPO) were included in the TOPIX index at the end of July 2025.
Our long-term pre-event candidate Core Concept Technologies Inc (4371 JP) is getting close to meeting the key Section Transfer requirements.


TOPIX Inclusions: Who Is Ready (Aug 2025)

Derivatives and Quantitative Strategist

Gaudenz Schneider

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">SoftBank Group (9984 JP)</a> reports Q1 FY2025 earnings on 7 August at 15:30 JST, with a conference call at 16:30 JST.</li>
<li>
Highlights: SoftBank’s post-earnings moves are often sharp and unpredictable — with outliers above ±12%. Options markets flag the results day as a high-volatility event to watch.</li>
<li>
Why Read: Essential for investors or options traders focused on Japan: Understand how timing, historic patterns and current volatility pricing shape both opportunity and risk around SoftBank earnings.</li>
</ul>



SoftBank Group (9984 JP) reports Q1 FY2025 earnings on 7 August at 15:30 JST, with a conference call at 16:30 JST.

Highlights: SoftBank’s post-earnings moves are often sharp and unpredictable — with outliers above ±12%. Options markets flag the results day as a high-volatility event to watch.

Why Read: Essential for investors or options traders focused on Japan: Understand how timing, historic patterns and current volatility pricing shape both opportunity and risk around SoftBank earnings.


Softbank Group (9984 JP) Results on 7 Aug: Expected Move and Option Insights

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>We will maintain our bullish intermediate-term view as long as market dynamics remain healthy and the SPX and ACWI-US are above 6028-6059 (up from 5700-5785) and $119-$121.</li>
<li>$128, $125-$126, and $123-$123.50 are short-term supports to watch on ACWI-US; we will maintain our near-term bullish outlook as long as $123 support holds.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
We will maintain our bullish intermediate-term view as long as market dynamics remain healthy and the SPX and ACWI-US are above 6028-6059 (up from 5700-5785) and $119-$121.
$128, $125-$126, and $123-$123.50 are short-term supports to watch on ACWI-US; we will maintain our near-term bullish outlook as long as $123 support holds.


Continue Adding Exposure to China; Short-Term Supports to for This ACWI-US Pullback

<ul>
<li>Ahead of the Bank of Japan’s 31 July 2025 policy meeting, markets broadly expect rates to remain on hold at 0.5%.</li>
<li>The new US–Japan trade deal may influence the tone of the upcoming quarterly outlook—if not the rate decision itself.</li>
<li>With limited precedent for rate changes but a high rate of surprises when they do occur, this Insight combines historical data with option-implied volatility to help investors assess tail risks.</li>
</ul>


Ahead of the Bank of Japan’s 31 July 2025 policy meeting, markets broadly expect rates to remain on hold at 0.5%.
The new US–Japan trade deal may influence the tone of the upcoming quarterly outlook—if not the rate decision itself.
With limited precedent for rate changes but a high rate of surprises when they do occur, this Insight combines historical data with option-implied volatility to help investors assess tail risks.


Bank of Japan’s Rate Decision on 31 July: Market Calm, Watch for Tail Risk

Japan

The TOPIX, also known as the Tokyo Stock Price Index, is a capitalization-weighted index of all companies listed on the First Section of the Tokyo Stock Exchange. The index is supplemented by the subindices of the 33 industry sectors. The index calculation excludes temporary issues and preferred stocks, and has a base value of 100 as of January 4, 1968.

TSE Tokyo Price Index TOPIX (TPX INDEX)

JX Advanced Metals (5016 JP): Passive Buying in the Next 6 Weeks

JX Advanced Metals will be added to one global index in 2 weeks and could be added to the other in 6 weeks. Passives will need to buy 7% of real...

Brian Freitas

TOPIX Inclusions: Who Is Ready (Aug 2025)

There are currently 133 names that satisfy all 5 key Segment Transfer requirements based on current data. Another 138 names can satisfy 4 out of 5...

Janaghan Jeyakumar, CFA

Softbank Group (9984 JP) Results on 7 Aug: Expected Move and Option Insights

SoftBank's earnings have historically triggered sharp post-earnings moves - a pattern mirrored in a dramatic implied volatility term structure.

Gaudenz Schneider

Continue Adding Exposure to China; Short-Term Supports to for This ACWI-US Pullback

Continue Adding Exposure to China; $ACWI Short-Term Supports for this pullback: $128, $125-$126, and $123-$123.50. Pullbacks = buy opportunities,...

Vermilion Research

Bank of Japan’s Rate Decision on 31 July: Market Calm, Watch for Tail Risk

Reminder: The Bank of Japan’s policy decision is due today around noon (31 July). Markets remain calm, with the Nikkei 225 and implied volatility...

Gaudenz Schneider

JX Advanced Metals (5016 JP): Passive Buying in the Next 6 Weeks

JX Advanced Metals will be added to one global index in 2 weeks and could be added to the other in 6 weeks. Passives will need to buy 7% of real...

Brian Freitas

TOPIX Inclusions: Who Is Ready (Aug 2025)

There are currently 133 names that satisfy all 5 key Segment Transfer requirements based on current data. Another 138 names can satisfy 4 out of 5...

Janaghan Jeyakumar, CFA

Softbank Group (9984 JP) Results on 7 Aug: Expected Move and Option Insights

​SoftBank's earnings have historically triggered sharp post-earnings moves - a pattern mirrored in a dramatic implied volatility term structure.

Gaudenz Schneider

Continue Adding Exposure to China; Short-Term Supports to for This ACWI-US Pullback

Continue Adding Exposure to China; $ACWI Short-Term Supports for this pullback: $128, $125-$126, and $123-$123.50. Pullbacks = buy opportunities,...

Vermilion Research

Bank of Japan’s Rate Decision on 31 July: Market Calm, Watch for Tail Risk

Reminder: The Bank of Japan’s policy decision is due today around noon (31 July). Markets remain calm, with the Nikkei 225 and implied volatility...

Gaudenz Schneider

SoftBank's earnings have historically triggered sharp post-earnings moves - a pattern mirrored in a dramatic implied volatility term structure.