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

<ul>
<li>There were a lot of rebalance implementations in China on Friday, plus a few upcoming index changes that were announced during the week.</li>
<li>There are a lot of implementations this week, with <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">KOSPI 200</a> and <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150</a> on Thursday and then others across a bunch of countries on Friday.</li>
<li>There were big inflows to <a href="https://www.smartkarma.com/entities/tracker-fund-of-hong-kong-ltd" target="_blank" data-smartkarma-citation="entities:29257:1" rel="noopener">Tracker Fund of Hong Kong (2800 HK)</a> during the week taking units outstanding to a new high. ETF inflows continue even as the market drops.</li>
</ul>


There were a lot of rebalance implementations in China on Friday, plus a few upcoming index changes that were announced during the week.
There are a lot of implementations this week, with KOSPI 200 and KOSDAQ 150 on Thursday and then others across a bunch of countries on Friday.
There were big inflows to Tracker Fund of Hong Kong (2800 HK) during the week taking units outstanding to a new high. ETF inflows continue even as the market drops.


Index Rebalance & ETF Flow Recap: NKY, TW Div+, ASX200, NZX50, Mom30, Top10EW, MVW, Rakuten Bank

Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

<ul>
<li>On December 8th, GUC reached its daily limit at the closing price, but the company did not consistently demonstrate an agreeable attitude.</li>
<li>The "AI" is an explicit knowledge for today, while GUC is a company of project based. </li>
<li>GUC's monthly revenue decreased by 22.15% YoY in November 2023.</li>
</ul>


On December 8th, GUC reached its daily limit at the closing price, but the company did not consistently demonstrate an agreeable attitude.
The "AI" is an explicit knowledge for today, while GUC is a company of project based. 
GUC's monthly revenue decreased by 22.15% YoY in November 2023.


GUC (3443.TT): Why the Company Did Show a Bit Cautious Attitude with the Market Price?

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 1st which has an aggregated holding worth USD684.7bn.</li>
<li>We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.</li>
<li>We estimate that foreign flows to be inflows of USD1,077mln and highlight foreign changes in TSMC, Mediatek, Umc.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Dec 1st which has an aggregated holding worth USD684.7bn.
We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.
We estimate that foreign flows to be inflows of USD1,077mln and highlight foreign changes in TSMC, Mediatek, Umc.


TWSE Foreign Holding Weekly (Dec 1st): TSMC, Mediatek, Umc

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Dec 1st which has an aggregated short interest worth USD15.3bn.</li>
<li>We tabulate league table 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 TWSE short interest weekly changes in Genius Elec.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Dec 1st which has an aggregated short interest worth USD15.3bn.
We tabulate league table 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 TWSE short interest weekly changes in Genius Elec.


TWSE Short Interest Weekly (Dec 1st): Genius Electronics

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 1st December 2023.</li>
<li>The index changes were mostly in line with our final expectations.</li>
<li>In this insight, we take a close look at the breakdown of our final flow expectations for the upcoming Inclusion/Exclusion and Capping events.</li>
</ul>


The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 1st December 2023.
The index changes were mostly in line with our final expectations.
In this insight, we take a close look at the breakdown of our final flow expectations for the upcoming Inclusion/Exclusion and Capping events.


Quiddity TDIV/​50/​100 Dec 23 Rebal: Inflow Names Could Outperform Outflow Names

Taiwan

Wiwynn Corporation manufactures computer storage devices. The Company develops and sells servers, storage devices, network systems, and equipment room infrastructure products. Wiwynn markets its products throughout Taiwan.

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Wiwynn Corp (6669 TT)

Index Rebalance & ETF Flow Recap: NKY, TW Div+, ASX200, NZX50, Mom30, Top10EW, MVW, Rakuten Bank

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

GUC (3443.TT): Why the Company Did Show a Bit Cautious Attitude with the Market Price?

GUC's daily limit reached, but company's attitude inconsistent. GUC's project-based nature contrasts with the prominence of "AI" knowledge....

Patrick Liao

TWSE Foreign Holding Weekly (Dec 1st): TSMC, Mediatek, Umc

We analyzed TWSE foreign holding data for the past week and we highlighted foreign holding changes in TSMC, Mediatek, Umc.

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Dec 1st): Genius Electronics

We analyzed TWSE short interest report for the past week and highlight weekly short interest changes in Genius Electronics.

Ke Yan, CFA, FRM

Quiddity TDIV/50/100 Dec 23 Rebal: Inflow Names Could Outperform Outflow Names

I estimate one-way flow to be US$1.2bn which is around 18.5% turnover. There are 29 expected inflow names and 25 expected outflow names.

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Index Rebalance & ETF Flow Recap: NKY, TW Div+, ASX200, NZX50, Mom30, Top10EW, MVW, Rakuten Bank

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

GUC (3443.TT): Why the Company Did Show a Bit Cautious Attitude with the Market Price?

​GUC's daily limit reached, but company's attitude inconsistent. GUC's project-based nature contrasts with the prominence of "AI" knowledge....

Patrick Liao

TWSE Foreign Holding Weekly (Dec 1st): TSMC, Mediatek, Umc

We analyzed TWSE foreign holding data for the past week and we highlighted foreign holding changes in TSMC, Mediatek, Umc.

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Dec 1st): Genius Electronics

We analyzed TWSE short interest report for the past week and highlight weekly short interest changes in Genius Electronics.

Ke Yan, CFA, FRM

Quiddity TDIV/​50/​100 Dec 23 Rebal: Inflow Names Could Outperform Outflow Names

I estimate one-way flow to be US$1.2bn which is around 18.5% turnover. There are 29 expected inflow names and 25 expected outflow names.

Janaghan Jeyakumar, CFA

GUC's daily limit reached, but company's attitude inconsistent. GUC's project-based nature contrasts with the prominence of "AI" knowledge....

Quiddity TDIV/50/100 Dec 23 Rebal: Inflow Names Could Outperform Outflow Names