Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

Orient Overseas (International) / Index Rebalance

<p>Hang Seng Indexes Company (HSIL) reviews the constituents of the Hang Seng Composite Index (HSCI) on a half yearly basis in March and September with data cut-off dates as of the end of December and June.</p><p>The December review will see the inclusion of stocks that were newly listed from 1 July to 30 September and meet the criteria for joining the index.</p><p>We expect <a href="https://www.smartkarma.com/entities/brii-biosciences" target="_blank" data-smartkarma-citation="entities:33014:1" rel="noopener">Brii Biosciences (2137 HK)</a>, <a href="https://www.smartkarma.com/entities/helen-s-international-holdings" target="_blank" data-smartkarma-citation="entities:34113:1" rel="noopener">Helen's International Holdings (9869 HK)</a>, <a href="https://www.smartkarma.com/entities/medlive-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:32985:1" rel="noopener">Medlive Technology (2192 HK)</a>, <a href="https://www.smartkarma.com/entities/keymed-biosciences-inc" target="_blank" data-smartkarma-citation="entities:33011:1" rel="noopener">Keymed Biosciences Inc (2162 HK)</a> and <a href="https://www.smartkarma.com/entities/sce-intelligent-commercial-management" target="_blank" data-smartkarma-citation="entities:33500:1" rel="noopener">SCE Intelligent Commercial Management (606 HK)</a> to be included in the index at the close of trading on 3 December.</p><p>For the regular rebalance in March 2022, we see 17 potential inclusions to the index and 4 potential deletions. There are 4 stocks that are close adds and 5 that are close deletes.</p><div><p>Although there are no assets indexed to the HSCI, the index forms the basis of stocks that are eligible for Southbound Stock Connect. Stocks that are included in the HSCI and subsequently included in the Stock Connect program get inflows from mainland investors. There is pre-positioning in the stocks in the lead up to the announcement and prior to the stocks being open for purchase by mainland investors.</p></div>

Hang Seng Indexes Company (HSIL) reviews the constituents of the Hang Seng Composite Index (HSCI) on a half yearly basis in March and September with data cut-off dates as of the end of December and June.The December review will see the inclusion of stocks that were newly listed from 1 July to 30 September and meet the criteria for joining the index.We expect Brii Biosciences (2137 HK), Helen's International Holdings (9869 HK), Medlive Technology (2192 HK), Keymed Biosciences Inc (2162 HK) and SCE Intelligent Commercial Management (606 HK) to be included in the index at the close of trading on 3 December.For the regular rebalance in March 2022, we see 17 potential inclusions to the index and 4 potential deletions. There are 4 stocks that are close adds and 5 that are close deletes.Although there are no assets indexed to the HSCI, the index forms the basis of stocks that are eligible for Southbound Stock Connect. Stocks that are included in the HSCI and subsequently included in the Stock Connect program get inflows from mainland investors. There is pre-positioning in the stocks in the lead up to the announcement and prior to the stocks being open for purchase by mainland investors.

HSCI Index Rebalance and Stock Connect: Potential Changes in December and March

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

<p><em>Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.</em></p><div><h2><em>Accuracy Rate:</em></h2></div><p>Our accuracy rate so far this year has been <strong>76.9% for IPOs and 68.1% for Placements.</strong></p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/016/891/original/2016-Total-Deals-2016-Accuracy-Rate-_chartbuilder.png?1480066470" class="editor-image img-responsive" data-smartkarma-image-id="16891"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/016/892/original/Total-Deals-Since-Inception-Accuracy-Rate-Since-Inception-_chartbuilder.png?1480066480" class="editor-image img-responsive" data-smartkarma-image-id="16892"></figure><h2><em>Placements:</em></h2><div><h2><strong>What we wrote on this week:</strong></h2></div><p><strong><a href="https://www.smartkarma.com/insights/shinhan-financial-placement-industry-tailwinds-and-strong-fundamentals" target="_blank" data-smartkarma-citation="insights:7192">Shinhan Financial Placement - Industry Tailwinds and Strong Fundamentals</a></strong></p><ul>
<li>Holding up 3.3% above deal price </li>
<li>Fellow insight provider, <a href="https://www.smartkarma.com/profiles/545" target="_blank" data-smartkarma-citation="accounts:545">Paul M. Kitney, PhD</a> , is also bullish on <a href="https://www.smartkarma.com/entities/6978" target="_blank" data-smartkarma-citation="entities:6978:1">Shinhan Financial Group Ltd (055550 KS)</a> in <a href="https://www.smartkarma.com/insights/animal-spirits-report-korea-equity-strategy-overweight-as-earnings-hit-the-sweet-spot" target="_blank" data-smartkarma-citation="insights:6389">ANIMAL SPIRITS™ REPORT: Korea</a>…</li>
</ul>

Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.Accuracy Rate:Our accuracy rate so far this year has been 76.9% for IPOs and 68.1% for Placements.Placements:What we wrote on this week:Shinhan Financial Placement - Industry Tailwinds and Strong Fundamentals
Holding up 3.3% above deal price 
Fellow insight provider, Paul M. Kitney, PhD , is also bullish on Shinhan Financial Group Ltd (055550 KS) in ANIMAL SPIRITS™ REPORT: Korea…


Smartkarma - ECM Coverage Weekly Update (28 Nov 2016)

<p><em>Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.</em></p><div><h2><em>Accuracy Rate:</em></h2></div><p>Our accuracy rate so far this year has been <strong>76.6% for IPOs and 67.2% for Placements.</strong></p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/016/586/original/2016-Total-Deals-2016-Accuracy-Rate-_chartbuilder.png?1479455177" class="editor-image img-responsive" data-smartkarma-image-id="16586"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/016/587/original/Total-Deals-Since-Inception-Accuracy-Rate-Since-Inception-_chartbuilder.png?1479455184" class="editor-image img-responsive" data-smartkarma-image-id="16587"></figure><div><h2><em>Placements:<br><br></em></h2></div><p><strong>What we wrote on this week:</strong></p><p><strong><a href="https://www.smartkarma.com/insights/activia-properties-back-for-the-annual-capital-raise-but-macro-might-not-be-supportive-this-time" target="_blank" data-smartkarma-citation="insights:7067">Activia Properties - Back for the Annual Capital Raise but Macro Might Not Be Supportive This Time</a></strong></p><ul>
<li>US$270m capital raise; expected to be DPU accretive</li>
<li>Shares are up 2% since its announcement on 13th November</li>
<li>Analysts have maintained their…</li>
</ul>

Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.Accuracy Rate:Our accuracy rate so far this year has been 76.6% for IPOs and 67.2% for Placements.Placements:  What we wrote on this week:Activia Properties - Back for the Annual Capital Raise but Macro Might Not Be Supportive This Time
US$270m capital raise; expected to be DPU accretive
Shares are up 2% since its announcement on 13th November
Analysts have maintained their…


Smartkarma - ECM Coverage Weekly Update (21 Nov 2016)

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.

<p>VPower launched its IPO to raise US$250m. We have covered the fundamentals the company in our previous insight titled <a href="https://www.smartkarma.com/insights/vpower-ipo-preview-beneficiary-of-obor-but-beware-of-survivorship-bias" target="_blank" data-smartkarma-citation="insights:6771">VPower IPO Preview: Beneficiary of OBOR but Beware of Survivorship Bias</a>. </p><p>In this insight, I will quickly recap what I have discussed earlier, look at new data points disclosed in its most recent prospectus and score the deal in our Smartkarma ECM Framework. </p><hr><h2>Deal and framework score overview</h2><p>Regular readers will be familiar with the below embed from our IPO tool which has been…</p>

VPower launched its IPO to raise US$250m. We have covered the fundamentals the company in our previous insight titled VPower IPO Preview: Beneficiary of OBOR but Beware of Survivorship Bias. In this insight, I will quickly recap what I have discussed earlier, look at new data points disclosed in its most recent prospectus and score the deal in our Smartkarma ECM Framework. Deal and framework score overviewRegular readers will be familiar with the below embed from our IPO tool which has been…

VPower IPO: Overseas Expansion Risks Under-Appreciated

<p><em>Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.</em></p><div><h2><em>Accuracy Rate:</em></h2></div><p>Our accuracy rate so far this year has been<strong> 77.2% for IPOs and 67.2% for Placements.</strong></p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/015/877/original/2016-Total-Deals-2016-Accuracy-Rate-_chartbuilder.png?1478229899" class="editor-image img-responsive" data-smartkarma-image-id="15877"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/015/878/original/Total-Deals-Since-Inception-Accuracy-Rate-Since-Inception-_chartbuilder.png?1478229910" class="editor-image img-responsive" data-smartkarma-image-id="15878"></figure><h2><em>Placements:<br><br></em></h2><p><strong>There are no placements this week.</strong></p><p><strong>What we wrote last week:</strong></p><p><strong><a href="https://www.smartkarma.com/insights/posco-placement-steady-steel-prices-allows-small-discount-to-be-pocketed" target="_blank" data-smartkarma-citation="insights:6726">POSCO Placement - Steady Steel Prices Allows Small Discount to Be Pocketed</a></strong></p><ul>
<li>Briefly broke deal price in Monday and Tuesday trading sessions</li>
<li>China hot rolled average steel price maintains its uptrend</li>
<li>Most analysts…</li>
</ul>

Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.Accuracy Rate:Our accuracy rate so far this year has been 77.2% for IPOs and 67.2% for Placements.Placements:  There are no placements this week.What we wrote last week:POSCO Placement - Steady Steel Prices Allows Small Discount to Be Pocketed
Briefly broke deal price in Monday and Tuesday trading sessions
China hot rolled average steel price maintains its uptrend
Most analysts…


Smartkarma - ECM Coverage Weekly Update (7 Nov 2016)

Hong Kong

VPower Group International Holdings Limited designs, integrates, sells, and installs engine-based electricity generation units and provides distributed power solutions. The company also trades engines and components, manufactures, sells, and installs power generation systems, and offers technical services. It was founded in 2001 and is headquartered in Hung Hom, Hong Kong.

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VPower Group (1608 HK)

HSCI Index Rebalance and Stock Connect: Potential Changes in December and March

There could be 5 adds to the HSCI in December. In March, there could be 17 adds and 4 deletes. There will be pre-positioning on the inclusions...

Brian Freitas

Smartkarma - ECM Coverage Weekly Update (28 Nov 2016)

Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.Accuracy Rate:Our accuracy...

Zhen Zhou, Toh

Smartkarma - ECM Coverage Weekly Update (21 Nov 2016)

Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.Accuracy Rate:Our accuracy...

Zhen Zhou, Toh

VPower IPO: Overseas Expansion Risks Under-Appreciated

VPower launched its IPO to raise US$250m. We have covered the fundamentals the company in our previous insight titled VPower IPO Preview:...

Ke Yan, CFA, FRM

Smartkarma - ECM Coverage Weekly Update (7 Nov 2016)

Smartkarma ECM Team puts out a weekly update on the deals we have covered recently, along with updates for upcoming IPOs.Accuracy Rate:Our accuracy...

Zhen Zhou, Toh

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