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

Vulcan Energy Resources / Index Rebalance

<ul>
<li>There is 1 change for the ASX20, 2 for the ASX50, 3 for the ASX100, 3 for 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</a> and 16 adds/9 deletes for the ASX300 in March.</li>
<li>
<a href="https://www.smartkarma.com/entities/regis-resources-ltd" target="_blank" data-smartkarma-citation="entities:20106:1" rel="noopener">Regis Resources</a> and Greatland Resources are potential inclusions to the <a href="https://www.smartkarma.com/entities/vaneck-gold-miners-etf-usa" target="_blank" data-smartkarma-citation="entities:32924:1" rel="noopener">VanEck Gold Miners ETF/USA (GDX US)</a> in March and those passive trackers will need to buy stock on the same day.</li>
<li>The adds have outperformed the deletes for all indices over the last few months, though performance has been flat over the last few weeks for most indices.</li>
</ul>


There is 1 change for the ASX20, 2 for the ASX50, 3 for the ASX100, 3 for the S&amp;P/ASX 200 and 16 adds/9 deletes for the ASX300 in March.

Regis Resources and Greatland Resources are potential inclusions to the VanEck Gold Miners ETF/USA (GDX US) in March and those passive trackers will need to buy stock on the same day.
The adds have outperformed the deletes for all indices over the last few months, though performance has been flat over the last few weeks for most indices.


S&P/​​​​ASX Index Rebalance (Mar 2026): 43 Changes Across Indices as Adds Outperform Deletes

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2026 index rebal event.</li>
<li>We expect one change for ASX 50, one change for ASX 100, and three changes for ASX 200. Separately we see 14 ADDs and 8 DELs for ASX 300.</li>
<li>The official index changes will be announced after the close on Friday 5th March 2026.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2026 index rebal event.
We expect one change for ASX 50, one change for ASX 100, and three changes for ASX 200. Separately we see 14 ADDs and 8 DELs for ASX 300.
The official index changes will be announced after the close on Friday 5th March 2026.


Quiddity Leaderboard ASX Mar26: Many Names With Multiple Days to Trade

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

Shenton Research

Shenton 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 Oct 2nd (reported today). The aggregated short interest was USD50.5bn.</li>
<li>We tabulate league tables 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 Northern Star Resources, Alcoa, Wesfarmers, Brambles, Suncorp.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Oct 2nd (reported today). The aggregated short interest was USD50.5bn.
We tabulate league tables 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 Northern Star Resources, Alcoa, Wesfarmers, Brambles, Suncorp.


ASX Short Interest Weekly (Oct 2nd): Northern Star Resources, Alcoa, Wesfarmers, Brambles, Suncorp

<ul>
<li>The <a href="https://www.smartkarma.com/entities/genesis-minerals-ltd" target="_blank" data-smartkarma-citation="entities:4650:1" rel="noopener">Genesis Minerals (GMD AU)</a>/ <a href="https://www.smartkarma.com/entities/vault-minerals-ltd" target="_blank" data-smartkarma-citation="entities:46317:1" rel="noopener">Vault Minerals Ltd (VAU AU)</a> merger should complete mid-November while <a href="https://www.smartkarma.com/entities/steadfast-group-ltd" target="_blank" data-smartkarma-citation="entities:8181:1" rel="noopener">Steadfast (SDF AU)</a>'s acquisition could complete by end-November.</li>
<li>There will be ad hoc inclusions for the S&amp;P/ASX 100 Index and <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 Index</a> following the merger and the acquisition to maintain the number of index constituents.</li>
<li>Then there will be more changes for the S&amp;P/ASX 50 Index, S&amp;P/ASX 100 Index and <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 Index</a> at the December rebalance.</li>
</ul>


The Genesis Minerals (GMD AU)/ Vault Minerals Ltd (VAU AU) merger should complete mid-November while Steadfast (SDF AU)'s acquisition could complete by end-November.
There will be ad hoc inclusions for the S&amp;P/ASX 100 Index and S&amp;P/ASX 200 Index following the merger and the acquisition to maintain the number of index constituents.
Then there will be more changes for the S&amp;P/ASX 50 Index, S&amp;P/ASX 100 Index and S&amp;P/ASX 200 Index at the December rebalance.


S&P/ASX Indices: M&A-Driven Ad Hoc Changes in Nov & Impact on the Dec Rebalance

<ul>
<li>We analysed the earning revision of component stocks of ASX 200 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 Evolution Mining, Woodside Energy, BHP, Santos, GQG Partners Inc DRC, Austal, Telix Pharmaceuticals.</li>
</ul>


We analysed the earning revision of component stocks of ASX 200 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 Evolution Mining, Woodside Energy, BHP, Santos, GQG Partners Inc DRC, Austal, Telix Pharmaceuticals.


ASX 200 Index Earning Revision (Sep): Evolution Mining, Woodside Energy, BHP, Santos, Austal

Australia

Vulcan Energy Resources Limited operates as a mineral exploration company. The Company focuses on exploring and developing solutions for copper, zinc, and other mineral properties. Vulcan Energy Resources serves customers in Australia.

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Vulcan Energy Resources (VUL AU)

S&P/ASX Index Rebalance (Mar 2026): 43 Changes Across Indices as Adds Outperform Deletes

There are 43 changes across the ASX changes in March. Couple of the adds could also be added to the GDX in March. The adds have outperformed the...

Brian Freitas

Quiddity Leaderboard ASX Mar26: Many Names With Multiple Days to Trade

With roughly five weeks left in the reference period, our expectations for the ASX March 2026 index review can still change since there are...

Janaghan Jeyakumar, CFA

ASX Short Interest Weekly (Oct 2nd): Northern Star Resources, Alcoa, Wesfarmers, Brambles, Suncorp

We analyzed ASX short interest report for the past week and highlight short interest changes in Northern Star Resources, Alcoa, Wesfarmers,...

Ke Yan, CFA, FRM

S&P/ASX Indices: M&A-Driven Ad Hoc Changes in Nov & Impact on the Dec Rebalance

The Genesis/Vault merger and the Steadfast acquisition are expected to complete in Nov. That leads to adhoc index inclusions and other flows. Then...

Brian Freitas

ASX 200 Index Earning Revision (Sep): Evolution Mining, Woodside Energy, BHP, Santos, Austal

We analyzed ASX 200's consensus for Sep 2026 and highlighted changes of EPS in Evolution Mining, Woodside Energy, BHP, Santos, GQG Partners Inc...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

S&P/​​​​ASX Index Rebalance (Mar 2026): 43 Changes Across Indices as Adds Outperform Deletes

There are 43 changes across the ASX changes in March. Couple of the adds could also be added to the GDX in March. The adds have outperformed the...

Brian Freitas

Quiddity Leaderboard ASX Mar26: Many Names With Multiple Days to Trade

With roughly five weeks left in the reference period, our expectations for the ASX March 2026 index review can still change since there are...

Janaghan Jeyakumar, CFA

ASX Short Interest Weekly (Oct 2nd): Northern Star Resources, Alcoa, Wesfarmers, Brambles, Suncorp

We analyzed ASX short interest report for the past week and highlight short interest changes in Northern Star Resources, Alcoa, Wesfarmers,...

Ke Yan, CFA, FRM

S&P/ASX Indices: M&A-Driven Ad Hoc Changes in Nov & Impact on the Dec Rebalance

The Genesis/Vault merger and the Steadfast acquisition are expected to complete in Nov. That leads to adhoc index inclusions and other flows. Then...

Brian Freitas

ASX 200 Index Earning Revision (Sep): Evolution Mining, Woodside Energy, BHP, Santos, Austal

We analyzed ASX 200's consensus for Sep 2026 and highlighted changes of EPS in Evolution Mining, Woodside Energy, BHP, Santos, GQG Partners Inc...

Ke Yan, CFA, FRM

S&P/ASX Index Rebalance (Mar 2026): 43 Changes Across Indices as Adds Outperform Deletes