Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
 Highlights: Currently 16 pair trade opportunities persist across four markets and nine sectors. 
</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

 Highlights: Currently 16 pair trade opportunities persist across four markets and nine sectors. 


Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (9 May 2026)

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 analysed the earning revision of component stocks of MS-Australia 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 Lynas Rare Earths, National Australia Bank, BHP, Westpac, Woodside Energy, CSL, Transurban.</li>
</ul>


We analysed the earning revision of component stocks of MS-Australia 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 Lynas Rare Earths, National Australia Bank, BHP, Westpac, Woodside Energy, CSL, Transurban.


MS-Australia Index Earning Revision (Apr): Lynas Rare Earths, National Australia Bank, BHP, Westpac

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
 Highlights: Currently 16 pair trade opportunities persist across four markets and ten sectors.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

 Highlights: Currently 16 pair trade opportunities persist across four markets and ten sectors.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (4 May 2026)

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>I tally 21- mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.</li>
<li>One new deal was discussed on Smartkarma this week: the NBIO for <a href="https://www.smartkarma.com/entities/matrix-composites-eng" target="_blank" data-smartkarma-citation="entities:8331:1" rel="noopener">Matrix Composites &amp; Eng (MCE AU)</a>. <a href="https://www.smartkarma.com/entities/ju-teng-international-hldgs" target="_blank" data-smartkarma-citation="entities:9998:1" rel="noopener">Ju Teng International (3336 HK)</a> is currently suspended pursuant to the Takeovers Code</li>
<li>Key updates/news also took place on: <a href="https://www.smartkarma.com/entities/qube-holdings-ltd" target="_blank" data-smartkarma-citation="entities:958:1" rel="noopener">Qube Holdings (QUB AU)</a>,<a href="https://www.smartkarma.com/entities/qoria-ltd" target="_blank" data-smartkarma-citation="entities:30531:1" rel="noopener">Qoria (QOR AU)</a>, <a href="https://www.smartkarma.com/entities/changhong-jiahua-holdings-limited" target="_blank" data-smartkarma-citation="entities:5849:1" rel="noopener">Changhong Jiahua Holdings (3991 HK)</a>, <a href="https://www.smartkarma.com/entities/ingenia-communities-group" target="_blank" data-smartkarma-citation="entities:5495:1" rel="noopener">Ingenia Communities (INA AU)</a>, and <a href="https://www.smartkarma.com/entities/makino-milling-machine-co" target="_blank" data-smartkarma-citation="entities:5200:1" rel="noopener">Makino Milling Machine Co (6135 JP)</a>.</li>
</ul>


I tally 21- mostly firm, mostly Asia-Pac - arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
One new deal was discussed on Smartkarma this week: the NBIO for Matrix Composites &amp; Eng (MCE AU). Ju Teng International (3336 HK) is currently suspended pursuant to the Takeovers Code
Key updates/news also took place on: Qube Holdings (QUB AU),Qoria (QOR AU), Changhong Jiahua Holdings (3991 HK), Ingenia Communities (INA AU), and Makino Milling Machine Co (6135 JP).


Asia-Pac M&A Weekly Wrap: Makino Milling, Matrix Composites, Qube, Qoria, Changhong Jiahua, Ingenia

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tokyo-steel-mfg-co-ltd" target="_blank" data-smartkarma-citation="entities:16195:1" rel="noopener">Tokyo Steel (5423 JP)</a>'s cost are up, but Japan's still a net scrap exporter, with enough scrap to keep Japan scrap prices low enough to keep electric arc furnaces competitive.</li>
<li>I can't see FIRB stomping on the Kestrel  deal. Perhaps behavioural remedies, where possible, such that <a href="https://www.smartkarma.com/entities/yancoal-australia-ltd" target="_blank" data-smartkarma-citation="entities:4145:1" rel="noopener">Yancoal Australia (YAL AU)</a> doesn't divert the majority of the exports to China.</li>
<li>IDX has considerable work to do to address transparency, investability, and credibility. <a href="https://www.smartkarma.com/entities/barito-pacific-tbk-pt" target="_blank" data-smartkarma-citation="entities:8851:1" rel="noopener">Barito Pacific (BRPT IJ)</a> and 64.7%-held <a href="https://www.smartkarma.com/entities/pt-barito-renewables-energy-tbk" target="_blank" data-smartkarma-citation="entities:40150:1" rel="noopener">Barito Renewables Energy (BREN IJ)</a> are both uninvestable.</li>
</ul>



Tokyo Steel (5423 JP)'s cost are up, but Japan's still a net scrap exporter, with enough scrap to keep Japan scrap prices low enough to keep electric arc furnaces competitive.
I can't see FIRB stomping on the Kestrel  deal. Perhaps behavioural remedies, where possible, such that Yancoal Australia (YAL AU) doesn't divert the majority of the exports to China.
IDX has considerable work to do to address transparency, investability, and credibility. Barito Pacific (BRPT IJ) and 64.7%-held Barito Renewables Energy (BREN IJ) are both uninvestable.


Last Week In Event SPACE: Tokyo Steel, Yancoal, Sun Corp/Cellebrite, Barito Pacific/Renewables

Australia

Washington H. Soul Pattinson & Company Limited is an investment holding company. The Company owns shares and properties, coal mining, bulk handling, commercial television licensee, telecommunications carrier, merchant banking, funds management, pharmaceutical retailing, manufacture, processing and marketing of biscuits and cakes.

Washington H. Soul Pattinson and Co. Ltd (SOL AU)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Washington H. Soul Pattinson and Co. Ltd (SOL AU)

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (9 May 2026)

Discover 16 pair trade opportunities across four markets and nine sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

MS-Australia Index Earning Revision (Apr): Lynas Rare Earths, National Australia Bank, BHP, Westpac

We analyzed MS-Australia's consensus for Apr 2026 and highlighted changes of EPS in Lynas Rare Earths, National Australia Bank, BHP, Westpac,...

Ke Yan, CFA, FRM

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (4 May 2026)

Discover 16 pair trade opportunities across four markets and ten sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Asia-Pac M&A Weekly Wrap: Makino Milling, Matrix Composites, Qube, Qoria, Changhong Jiahua, Ingenia

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Last Week In Event SPACE: Tokyo Steel, Yancoal, Sun Corp/Cellebrite, Barito Pacific/Renewables

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (9 May 2026)

​Discover 16 pair trade opportunities across four markets and nine sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

MS-Australia Index Earning Revision (Apr): Lynas Rare Earths, National Australia Bank, BHP, Westpac

We analyzed MS-Australia's consensus for Apr 2026 and highlighted changes of EPS in Lynas Rare Earths, National Australia Bank, BHP, Westpac,...

Ke Yan, CFA, FRM

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (4 May 2026)

​Discover 16 pair trade opportunities across four markets and ten sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Asia-Pac M&A Weekly Wrap: Makino Milling, Matrix Composites, Qube, Qoria, Changhong Jiahua, Ingenia

This insight provides a summary of gross/annualised spreads (on deals discussed on Smartkarma) across Asia-Pacific as at the last trading date, and...

David Blennerhassett

Last Week In Event SPACE: Tokyo Steel, Yancoal, Sun Corp/Cellebrite, Barito Pacific/Renewables

It’s Sunday! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed during the...

David Blennerhassett

Discover 16 pair trade opportunities across four markets and nine sectors using statistical mean-reversion methodology for actionable insights.

Discover 16 pair trade opportunities across four markets and ten sectors using statistical mean-reversion methodology for actionable insights.