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

Event-Driven

<ul>
<li>Using the last close, there could be one change for the Taiwan Top 50 ETF in September with <a href="https://www.smartkarma.com/entities/pharmaessentia-corp" target="_blank" data-smartkarma-citation="entities:16461:1" rel="noopener">Pharmaessentia Corp (6446 TT)</a> replacing <a href="https://www.smartkarma.com/entities/nanya-technology-corp" target="_blank" data-smartkarma-citation="entities:3269:1" rel="noopener">Nanya Technology (2408 TT)</a>. </li>
<li>There is one other constituent that is close to deletion zone while there are a couple of non-constituents that could move into inclusion zone over the next couple of weeks.</li>
<li>Short interest has been dropping in <a href="https://www.smartkarma.com/entities/pharmaessentia-corp" target="_blank" data-smartkarma-citation="entities:16461:1" rel="noopener">Pharmaessentia Corp (6446 TT)</a> and increasing in <a href="https://www.smartkarma.com/entities/nanya-technology-corp" target="_blank" data-smartkarma-citation="entities:3269:1" rel="noopener">Nanya Technology (2408 TT)</a> over the last few weeks.</li>
</ul>


Using the last close, there could be one change for the Taiwan Top 50 ETF in September with Pharmaessentia Corp (6446 TT) replacing Nanya Technology (2408 TT). 
There is one other constituent that is close to deletion zone while there are a couple of non-constituents that could move into inclusion zone over the next couple of weeks.
Short interest has been dropping in Pharmaessentia Corp (6446 TT) and increasing in Nanya Technology (2408 TT) over the last few weeks.


Taiwan Top 50 ETF Rebalance Preview: One Change Right at the Cusp

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

AP Moeller - Maersk A/S / Equity Bottom-Up

<ul>
<li>Despite rising spot rates, Maersk Q224 revenue and EBITDA both fell Y/Y</li>
<li>After lifting pessimistic guidance in June, Maersk upped FY24 targets again</li>
<li>We believe Maersk probably moved to limit spot exposure a year ago</li>
</ul>


Despite rising spot rates, Maersk Q224 revenue and EBITDA both fell Y/Y
After lifting pessimistic guidance in June, Maersk upped FY24 targets again
We believe Maersk probably moved to limit spot exposure a year ago


Maersk Q224 Results | Strangely, Danish Container Giant Saw Limited Gains From Higher Spot Rates

<ul>
<li>Overall, June container throughput growth and average container rates strong</li>
<li>But spot rates have begun to wobble recently, and 2025 uncertainty grows</li>
<li>We have decided to close our suggested container shipping pair trade </li>
</ul>


Overall, June container throughput growth and average container rates strong
But spot rates have begun to wobble recently, and 2025 uncertainty grows
We have decided to close our suggested container shipping pair trade 


Monthly Container Shipping Tracker | Pricing Still Firm | Spot Rates Fall | Closed Pair (July 2024)

Equity Capital Markets

<ul>
<li>TS Lines' comp Wan Hai has reported strong numbers so far in 2024</li>
<li>But TS Lines is unlikely to match Wan Hai's impressive H124 gains</li>
<li>Next for TS Lines: H124 financials and valuation vs Wan Hai, RCL</li>
</ul>


TS Lines' comp Wan Hai has reported strong numbers so far in 2024
But TS Lines is unlikely to match Wan Hai's impressive H124 gains
Next for TS Lines: H124 financials and valuation vs Wan Hai, RCL


TS Lines Pre-IPO: Should We Expect TS Lines to Match Wan Hai's Strength in YTD 2024?

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/t-s-lines" target="_blank" data-smartkarma-citation="entities:39795:1" rel="noopener">T.S. Lines (TSL HK)</a> is looking to raise about US$300m in its upcoming Hong Kong IPO.</li>
<li>T.S. Lines (TSL) is a container shipping firm primarily operating in the Asia Pacific (APAC) region.</li>
<li>In this note, we look at the firm’s past performance.</li>
</ul>



T.S. Lines (TSL HK) is looking to raise about US$300m in its upcoming Hong Kong IPO.
T.S. Lines (TSL) is a container shipping firm primarily operating in the Asia Pacific (APAC) region.
In this note, we look at the firm’s past performance.


T.S. Lines Pre-IPO - Looks like an Opportunistic Listing

Taiwan

Wan Hai Lines Ltd. provides marine transportation and shipping agent services. The Company also purchases, sells, and leases vessels and containers as well as operates container freight stations.

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Wan Hai Lines (2615 TT)

Taiwan Top 50 ETF Rebalance Preview: One Change Right at the Cusp

There could be one change for the Taiwan Top 50 ETF in September. Review cutoff is two weeks away and there are some stocks that are close to the...

Brian Freitas

Maersk Q224 Results | Strangely, Danish Container Giant Saw Limited Gains From Higher Spot Rates

If you've read about skyrocketing spot container rates in 2024, you may be surprised to learn that Danish container shipping giant reported Y/Y...

Tracking Traffic

Monthly Container Shipping Tracker | Pricing Still Firm | Spot Rates Fall | Closed Pair (July 2024)

In June, price momentum and volume growth remained firm, but in July we've seen some spot rates dip. Mainly due to share price movements, we have...

Tracking Traffic

TS Lines Pre-IPO: Should We Expect TS Lines to Match Wan Hai's Strength in YTD 2024?

Given changes in its market exposure over the past 12-18 months, investors shouldn't expect TS Lines to match Wan Hai's strong YTD performance in...

Tracking Traffic

T.S. Lines Pre-IPO - Looks like an Opportunistic Listing

T.S. Lines (TSL HK) is looking to raise about US$300m in its upcoming Hong Kong IPO. In this note, we look at the firm’s past performance.

Clarence Chu

Price Gauge

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