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

Victory Giant Technology -A / Index Rebalance

<ul>
<li>There could be 12 changes at the December rebalance with the Information Technology sector gaining 2 index spots and a smaller number of changes in the other sectors.</li>
<li>We estimate one-way turnover of 2.7% at the rebalance leading to a round-trip trade of CNY 69.8bn (US$9.8bn). There are 8 stocks with over 2x ADV to trade.</li>
<li>The forecast adds have outperformed the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">CSI 300 Index</a> over the last 5 months while the forecast deletes have underperformed the index.</li>
</ul>


There could be 12 changes at the December rebalance with the Information Technology sector gaining 2 index spots and a smaller number of changes in the other sectors.
We estimate one-way turnover of 2.7% at the rebalance leading to a round-trip trade of CNY 69.8bn (US$9.8bn). There are 8 stocks with over 2x ADV to trade.
The forecast adds have outperformed the CSI 300 Index over the last 5 months while the forecast deletes have underperformed the index.


CSI300 Index Rebalance Preview: 12 Changes a Side as Trade Nears US$10bn

Asia Pac ECM and Index Rebal, DZT 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 analysed the earning revision of component stocks of STAR50 in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on SUPCON TECHNOLOGY, SHENGYI ELECTRONICS, TRANSSION, TRINA SOLAR, CAMBRICON TECHNOLOGIES, Trina Solar, Shengyi Electronics, Cambricon Technologies, Transsion, Supcon Technology.</li>
</ul>


We analysed the earning revision of component stocks of STAR50 in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on SUPCON TECHNOLOGY, SHENGYI ELECTRONICS, TRANSSION, TRINA SOLAR, CAMBRICON TECHNOLOGIES, Trina Solar, Shengyi Electronics, Cambricon Technologies, Transsion, Supcon Technology.


STAR50 Index Earning Revision (Oct): SUPCON TECHNOLOGY, SHENGYI ELECTRONICS, TRANSSION, TRINA SOLAR

<ul>
<li>We analysed the earning revision of component stocks of STAR50 in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on JINKO SOLAR, Xinjiang Daqo, CAMBRICON TECHNOLOGIES, Ninebot, TRINA SOLAR, Cambricon Technologies, Ninebot, Trina Solar, Jinko Solar, Xinjiang Daqo.</li>
</ul>


We analysed the earning revision of component stocks of STAR50 in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on JINKO SOLAR, Xinjiang Daqo, CAMBRICON TECHNOLOGIES, Ninebot, TRINA SOLAR, Cambricon Technologies, Ninebot, Trina Solar, Jinko Solar, Xinjiang Daqo.


STAR50 Index Earning Revision (Aug): JINKO SOLAR, Xinjiang Daqo, CAMBRICON, Ninebot

<ul>
<li>We analysed the earning revision of component stocks of STAR50 in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Bestechnic (Shanghai), Csi Solar, Biwin Storage Technology, Transsion, Xinjiang Daqo.</li>
</ul>


We analysed the earning revision of component stocks of STAR50 in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Bestechnic (Shanghai), Csi Solar, Biwin Storage Technology, Transsion, Xinjiang Daqo.


STAR50 Index Earning Revision (Jun): Bestechnic, Csi Solar, Biwin Storage Technology

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?

China

Verisilicon Microelectronics (Shanghai) Co., Ltd. manufactures and distributes chips. The Company provides chips designing, production, testing, marketing, and other related services. Verisilicon Microelectronics (Shanghai) markets its products worldwide.

Verisilicon Microelectronics S (688521 CH)

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Verisilicon Microelectronics S (688521 CH)

CSI300 Index Rebalance Preview: 12 Changes a Side as Trade Nears US$10bn

There could be 12 changes in Dec. Estimate one-way turnover is 2.7% resulting in a round-trip trade of US$9.8bn. The adds have outperformed the...

Brian Freitas

STAR50 Index Earning Revision (Oct): SUPCON TECHNOLOGY, SHENGYI ELECTRONICS, TRANSSION, TRINA SOLAR

We analyzed STAR50's consensus for Oct 2025 and highlighted changes of EPS in SUPCON TECHNOLOGY (688777 CH), SHENGYI ELECTRONICS (688183 CH),...

Ke Yan, CFA, FRM

STAR50 Index Earning Revision (Aug): JINKO SOLAR, Xinjiang Daqo, CAMBRICON, Ninebot

We analyzed STAR50's consensus for Aug 2025 and highlighted changes of EPS in JINKO SOLAR (688223 CH), Xinjiang Daqo (688303 CH), CAMBRICON...

Ke Yan, CFA, FRM

STAR50 Index Earning Revision (Jun): Bestechnic, Csi Solar, Biwin Storage Technology

We analyzed STAR50's consensus for Jun 2025 and highlighted changes of EPS in Bestechnic (Shanghai), Csi Solar, Biwin Storage Technology,...

Ke Yan, CFA, FRM

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

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52-week Range

Market Cap (USDm)

P/E

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