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.

Index Rebalance

<ul>
<li>CSI announced four ADDs and four DELETEs for STAR50, effective 15 Jun 2026. Bridge-window data is complete through 12 Jun 2026.</li>
<li>Yuanjie Semi led the ADD bridge gains, while Hua Hong Semiconductor reversed its pre-announcement gains. SICC had the weakest bridge performance among the DELETEs.</li>
<li>Historically, positive-bridge ADDs averaged weaker first-week returns. Negative-bridge DELETEs showed the most consistent first-week losses.</li>
</ul>


CSI announced four ADDs and four DELETEs for STAR50, effective 15 Jun 2026. Bridge-window data is complete through 12 Jun 2026.
Yuanjie Semi led the ADD bridge gains, while Hua Hong Semiconductor reversed its pre-announcement gains. SICC had the weakest bridge performance among the DELETEs.
Historically, positive-bridge ADDs averaged weaker first-week returns. Negative-bridge DELETEs showed the most consistent first-week losses.


STAR50 Jun 2026 Index Rebalance: Pre-Implementation Update

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of A-share stocks as of Jun 12th. The aggregated net margin trading position is USD391,810m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE, FUJIAN TORCH ELECTRON TECHNOLOGY, LEADER HARMONIOUS DRIVE SYSTEMS.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of Jun 12th. The aggregated net margin trading position is USD391,810m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE, FUJIAN TORCH ELECTRON TECHNOLOGY, LEADER HARMONIOUS DRIVE SYSTEMS.


A-Share Margin Trading Weekly (Jun 12th): GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

MetaX Integrated Circuits / Index Rebalance

<ul>
<li>The June 2026 index review results for the STAR 50 and STAR 100 indices were announced after market close on Friday 29th May 2026.</li>
<li>There will be four ADDs/DELs for the STAR 50 index and ten ADDs/DELs for the STAR 100 index.</li>
<li>We expect one-way flows of approximately US$2.1bn and US$432mn for the STAR 50 and STAR 100 index rebal events, respectively.</li>
</ul>


The June 2026 index review results for the STAR 50 and STAR 100 indices were announced after market close on Friday 29th May 2026.
There will be four ADDs/DELs for the STAR 50 index and ten ADDs/DELs for the STAR 100 index.
We expect one-way flows of approximately US$2.1bn and US$432mn for the STAR 50 and STAR 100 index rebal events, respectively.


Quiddity STAR 50/100 Jun26 Results: 7/8 Correct for STAR 50, Some Surprises Among STAR 100 ADDs

<ul>
<li>CSI announced four ADDs and four DELETEs for the STAR50 Jun 2026 review, effective 15 Jun 2026.</li>
<li>Our forecast hit one ADD and three DELETEs. We reviewed our HITs and MISSes.</li>
<li>The ADD miss came from one near-zone name and two fast-entry AI-chip names; stock-level positioning now drives whether to chase or fade.</li>
</ul>


CSI announced four ADDs and four DELETEs for the STAR50 Jun 2026 review, effective 15 Jun 2026.
Our forecast hit one ADD and three DELETEs. We reviewed our HITs and MISSes.
The ADD miss came from one near-zone name and two fast-entry AI-chip names; stock-level positioning now drives whether to chase or fade.


STAR50 Jun 2026 Index Rebalance: Post-Announcement Positioning

<ul>
<li>STAR 50 and STAR 100 are tech-focused, blue-chip indices in Mainland China which track the top largest and most liquid names in the STAR market of the Shanghai Stock Exchange.</li>
<li>In this insight, we have presented our final expectations for ADDs and DELs for the upcoming June 2026 index rebal event.</li>
<li>We expect over US$2.6bn combined one-way flows for STAR 50 and STAR 100 during the June 2026 index rebal event.</li>
</ul>


STAR 50 and STAR 100 are tech-focused, blue-chip indices in Mainland China which track the top largest and most liquid names in the STAR market of the Shanghai Stock Exchange.
In this insight, we have presented our final expectations for ADDs and DELs for the upcoming June 2026 index rebal event.
We expect over US$2.6bn combined one-way flows for STAR 50 and STAR 100 during the June 2026 index rebal event.


Quiddity Leaderboard STAR 50/100 Jun26: Final Expectations; ~US$2.6bn Combined One-Way Flows

China

Xiamen Amoytop Biotech Co., Ltd. operates as a drug development company. The Company develops and sells protein drugs, interferon drugs, and other products. Xiamen Amoytop Biotech markets its products primarily throughout China with limited overseas.

Xiamen Amoytop Biotech Co Ltd (688278 CH)

Price Gauge
52-week Range	0.00 - 0.00
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Xiamen Amoytop Biotech Co Ltd (688278 CH)

STAR50 Jun 2026 Index Rebalance: Pre-Implementation Update

STAR50 enters implementation on 15 Jun 2026. We update post-announcement stock performance and discuss implementation trades.

Ke Yan, CFA, FRM

Quiddity STAR 50/100 Jun26 Results: 7/8 Correct for STAR 50, Some Surprises Among STAR 100 ADDs

We predicted 7/8 STAR 50 index changes correctly. However, there were some surprises among the STAR 100 ADDs which might have been due to the...

Janaghan Jeyakumar, CFA

STAR50 Jun 2026 Index Rebalance: Post-Announcement Positioning

STAR50 Jun 2026 post-announcement trading is live. We review individual-stock positioning across ADDs and DELETEs. The opening gap should guide...

Ke Yan, CFA, FRM

Quiddity Leaderboard STAR 50/100 Jun26: Final Expectations; ~US$2.6bn Combined One-Way Flows

The STAR50/100 Jun26 index review results will be confirmed after market close on Friday 29th May 2026. In this insight, we have presented our...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

STAR50 Jun 2026 Index Rebalance: Pre-Implementation Update

STAR50 enters implementation on 15 Jun 2026. We update post-announcement stock performance and discuss implementation trades.

Ke Yan, CFA, FRM

A-Share Margin Trading Weekly (Jun 12th): GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE

We analyzed A-share margin trading positions report for the past week and highlighted GUOTAI HAITONG SECURITIES (601211 CH), EAST MONEY INFORMATION...

Ke Yan, CFA, FRM

Quiddity STAR 50/100 Jun26 Results: 7/8 Correct for STAR 50, Some Surprises Among STAR 100 ADDs

We predicted 7/8 STAR 50 index changes correctly. However, there were some surprises among the STAR 100 ADDs which might have been due to the...

Janaghan Jeyakumar, CFA

STAR50 Jun 2026 Index Rebalance: Post-Announcement Positioning

STAR50 Jun 2026 post-announcement trading is live. We review individual-stock positioning across ADDs and DELETEs. The opening gap should guide...

Ke Yan, CFA, FRM

Quiddity Leaderboard STAR 50/100 Jun26: Final Expectations; ~US$2.6bn Combined One-Way Flows

The STAR50/100 Jun26 index review results will be confirmed after market close on Friday 29th May 2026. In this insight, we have presented our...

Janaghan Jeyakumar, CFA