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 May 8th (reported today). The aggregated short interest was USD45.2bn.</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 BHP, Telstra, National Australia Bank, Wesfarmers, Capricorn Metals.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of May 8th (reported today). The aggregated short interest was USD45.2bn.
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 BHP, Telstra, National Australia Bank, Wesfarmers, Capricorn Metals.


ASX Short Interest Weekly (May 8th): BHP, Telstra, National Australia Bank, Wesfarmers

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 have presented our expectations for potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2026 index rebal event.</li>
<li>There have been some important movements in Leaderboard ranks. Currently, we expect one change for ASX 50, one change for ASX 100, and three changes for ASX 200.</li>
<li>However, one of the ASX 200 expected ADDs <a href="https://www.smartkarma.com/entities/firefly-metals-ltd" target="_blank" data-smartkarma-citation="entities:12974:1" rel="noopener">FireFly Metals (FFM AU)</a> is currently involved in a spin-off that could harm its chances of ASX 200 inclusion.</li>
</ul>


In this insight, we have presented our expectations for potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2026 index rebal event.
There have been some important movements in Leaderboard ranks. Currently, we expect one change for ASX 50, one change for ASX 100, and three changes for ASX 200.
However, one of the ASX 200 expected ADDs FireFly Metals (FFM AU) is currently involved in a spin-off that could harm its chances of ASX 200 inclusion.


Quiddity Leaderboard ASX Jun26: FireFly Metals A Question Mark; Qube Replacements; Rank Changes

<ul>
<li>In this insight, we have presented our expectations for potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2026 index rebal event.</li>
<li>Currently, we expect one change for ASX 50 and two changes for ASX 200 during the rebalance. </li>
<li>For the ASX 200 index, there could be two intra-review changes prior to the regular rebalance event.</li>
</ul>


In this insight, we have presented our expectations for potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2026 index rebal event.
Currently, we expect one change for ASX 50 and two changes for ASX 200 during the rebalance. 
For the ASX 200 index, there could be two intra-review changes prior to the regular rebalance event.


Quiddity Leaderboard ASX Jun26: Two Intra-Review Replacements Possible + More Regular Changes

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>There could be 1 change for the ASX20, 2 for the ASX50, 3 for the ASX100, 4 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 17 adds/10 deletes for the ASX300 in March.</li>
<li>Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to 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>. </li>
<li>While the forecast adds have outperformed the forecast deletes over the last few months, there was a drawdown for most indices in January. Most of that underperformance has now reversed.</li>
</ul>


There could be 1 change for the ASX20, 2 for the ASX50, 3 for the ASX100, 4 for the S&amp;P/ASX 200 and 17 adds/10 deletes for the ASX300 in March.
Passive trackers will need to trade a lot of stock in the forecast changes, with the impact being especially large for the changes to the S&amp;P/ASX 200 (AS51 INDEX). 
While the forecast adds have outperformed the forecast deletes over the last few months, there was a drawdown for most indices in January. Most of that underperformance has now reversed.


S&P/​​​​​​​​​ASX Index Rebalance Preview (Mar 26): Plenty of Change with Big Flow & Impact

<ul>
<li>In this insight, we have presented our latest expectations for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2026 index rebal event.</li>
<li>Our expectations for ASX 20, 50, and 100 have changed as we anticipated might (in our last insight) might happen. The reference period is about to end soon.</li>
<li>We now expect one change for ASX 20, two changes for ASX 50, two changes for ASX 100, three changes for ASX 200, and 15 ADDs/8 DELs for ASX 300.</li>
</ul>


In this insight, we have presented our latest expectations for ASX 300, 200, 100, 50, and 20 in the run-up to the March 2026 index rebal event.
Our expectations for ASX 20, 50, and 100 have changed as we anticipated might (in our last insight) might happen. The reference period is about to end soon.
We now expect one change for ASX 20, two changes for ASX 50, two changes for ASX 100, three changes for ASX 200, and 15 ADDs/8 DELs for ASX 300.


Quiddity Leaderboard ASX Mar26: Multiple Changes to Key Ranks as Anticipated; Many High-Impact Names

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.

Price Gauge
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Vulcan Energy Resources (VUL AU)

ASX Short Interest Weekly (May 8th): BHP, Telstra, National Australia Bank, Wesfarmers

We analyzed ASX short interest report for the past week and highlight short interest changes in BHP, Telstra, National Australia Bank, Wesfarmers,...

Ke Yan, CFA, FRM

Quiddity Leaderboard ASX Jun26: FireFly Metals A Question Mark; Qube Replacements; Rank Changes

All expected index changes have multiple days of volume to trade. There is still roughly one month left in the reference period and some ASX 200...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Jun26: Two Intra-Review Replacements Possible + More Regular Changes

The Insignia Financial and National Storage REIT deals are likely to trigger intra-review index changes next. After that, there could be more...

Janaghan Jeyakumar, CFA

S&P/ASX Index Rebalance Preview (Mar 26): Plenty of Change with Big Flow & Impact

There could be 46 changes across the ASX family of indices in March. Passive trackers need to trade a lot of stock in many names. Some names are...

Brian Freitas

Quiddity Leaderboard ASX Mar26: Multiple Changes to Key Ranks as Anticipated; Many High-Impact Names

The expected changes for ASX 200 and ASX 300 have fairly high impacts expected in the upcoming rebalance. The ASX 20, 50, and 100 have large...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ASX Short Interest Weekly (May 8th): BHP, Telstra, National Australia Bank, Wesfarmers

We analyzed ASX short interest report for the past week and highlight short interest changes in BHP, Telstra, National Australia Bank, Wesfarmers,...

Ke Yan, CFA, FRM

Quiddity Leaderboard ASX Jun26: FireFly Metals A Question Mark; Qube Replacements; Rank Changes

All expected index changes have multiple days of volume to trade. There is still roughly one month left in the reference period and some ASX 200...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Jun26: Two Intra-Review Replacements Possible + More Regular Changes

The Insignia Financial and National Storage REIT deals are likely to trigger intra-review index changes next. After that, there could be more...

Janaghan Jeyakumar, CFA

S&P/​​​​​​​​​ASX Index Rebalance Preview (Mar 26): Plenty of Change with Big Flow & Impact

There could be 46 changes across the ASX family of indices in March. Passive trackers need to trade a lot of stock in many names. Some names are...

Brian Freitas

Quiddity Leaderboard ASX Mar26: Multiple Changes to Key Ranks as Anticipated; Many High-Impact Names

The expected changes for ASX 200 and ASX 300 have fairly high impacts expected in the upcoming rebalance. The ASX 20, 50, and 100 have large...

Janaghan Jeyakumar, CFA

S&P/ASX Index Rebalance Preview (Mar 26): Plenty of Change with Big Flow & Impact