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

Xiamen Tungsten Co Ltd A / Index Rebalance

<ul>
<li>CSI 300 June 2026 added 19 stocks and deleted 19. With all post-implementation windows complete, we review current-cycle performance vs history.</li>
<li>ADDs rose broadly in the first implementation week. The historical fade read was offset by a stronger CSI 300 tape and tungsten-specific newsflow. Weeks 2 to 4 reversed the gains.</li>
<li>DELETEs fell in the first week and drifted lower in weeks 2 to 4. The direction matched history, and the losses were milder than in prior cycles.</li>
</ul>


CSI 300 June 2026 added 19 stocks and deleted 19. With all post-implementation windows complete, we review current-cycle performance vs history.
ADDs rose broadly in the first implementation week. The historical fade read was offset by a stronger CSI 300 tape and tungsten-specific newsflow. Weeks 2 to 4 reversed the gains.
DELETEs fell in the first week and drifted lower in weeks 2 to 4. The direction matched history, and the losses were milder than in prior cycles.


CSI 300 June 2026 Rebalance: Post-Implementation Review

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

Xiamen Tungsten Co Ltd A / Equity Bottom-Up

<ul>
  <li>Xiamen Tungsten holds a dominant position in the global tungsten market, benefiting from a vertically integrated business model that spans from mining to high-value-added downstream products.</li>
  <li>Strategic expansion into new energy materials, particularly battery cathodes, positions the company to capitalize on the rapid growth of the electric vehicle (EV) and energy storage markets.</li>
  <li>While exposed to commodity price volatility and regulatory risks, the company's strong market share, diversified operations across tungsten, rare earths, and battery materials, and consistent financial performance provide a solid foundation for future growth.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Xiamen Tungsten holds a dominant position in the global tungsten market, benefiting from a vertically integrated business model that spans from mining to high-value-added downstream products.
  Strategic expansion into new energy materials, particularly battery cathodes, positions the company to capitalize on the rapid growth of the electric vehicle (EV) and energy storage markets.
  While exposed to commodity price volatility and regulatory risks, the company's strong market share, diversified operations across tungsten, rare earths, and battery materials, and consistent financial performance provide a solid foundation for future growth.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Xiamen Tungsten Co Ltd A (600549 CH) - Dec 2025

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Suzhou Dongshan Precision A / Technical Analysis

<ul>
<li>We remain near-term bullish as long as $141.50 support on ACWI-US continues to hold. We discussed last week (2/26/26 Int'l Compass) to trim exposure to Korea and Taiwan...</li>
<li>...Noting for Korea that "with recent upside acceleration there is risk of a larger pullback following the current parabolic upside period."</li>
<li>That pullback has begun to materialize, and the growing list of concerns that we have highlighted since early-February remains a problem for global equities near-term</li>
</ul>


We remain near-term bullish as long as $141.50 support on ACWI-US continues to hold. We discussed last week (2/26/26 Int'l Compass) to trim exposure to Korea and Taiwan...
...Noting for Korea that "with recent upside acceleration there is risk of a larger pullback following the current parabolic upside period."
That pullback has begun to materialize, and the growing list of concerns that we have highlighted since early-February remains a problem for global equities near-term


Pullback Offering Buying Opportunities; Crucial Support at $141.50 on ACWI-US Holding for Now

<ul>
<li>The bullish outlook for global equities (MSCI ACWI) that we initiated in early November 2023 remains intact; continue to ride this trend higher.</li>
<li>Many of the heavily-weighted countries in terms of global market capitalization (U.S., Europe, Japan) are extended; we'd welcome some consolidation, though it may come from higher levels.</li>
<li>Ultimately, market dynamics remain healthy, and we would treat pullbacks as buying opportunities. Downgrading India to market weight. Actionable Themes: Global Materials, Energy, Consumer Discretionary, and Industrials</li>
</ul>


The bullish outlook for global equities (MSCI ACWI) that we initiated in early November 2023 remains intact; continue to ride this trend higher.
Many of the heavily-weighted countries in terms of global market capitalization (U.S., Europe, Japan) are extended; we'd welcome some consolidation, though it may come from higher levels.
Ultimately, market dynamics remain healthy, and we would treat pullbacks as buying opportunities. Downgrading India to market weight. Actionable Themes: Global Materials, Energy, Consumer Discretionary, and Industrials


Bullish Outlook Intact; Downgrading India; Buys in Materials, Energy, Discretionary, Industrials

Shenton Research

Shenton 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 CSI 300 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 ZHONGJI INNOLIGHT, GUANGZHOU AUTOMOBILE, INDUSTRIAL BANK, Longi Green, SERES, ZIJIN MINING, PING AN INSURANCE, GIGADEVICE SEMICONDUCTOR.</li>
</ul>


We analysed the earning revision of component stocks of CSI 300 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 ZHONGJI INNOLIGHT, GUANGZHOU AUTOMOBILE, INDUSTRIAL BANK, Longi Green, SERES, ZIJIN MINING, PING AN INSURANCE, GIGADEVICE SEMICONDUCTOR.


CSI 300 Index Earning Revision (Jul): ZHONGJI INNOLIGHT, GUANGZHOU AUTOMOBILE, INDUSTRIAL BANK

China

Xiamen Tungsten Co., Ltd. smelts and processes tungsten products.  The Company's products include ammonium paratungstate, blue tungsten oxide, yellow tungsten oxide, tungsten powder, and tungsten alloy products.  Xiamen Tungsten also produces battery and operates in real estate development and management.

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Xiamen Tungsten Co Ltd A (600549 CH)

CSI 300 June 2026 Rebalance: Post-Implementation Review

CSI 300 June 2026 rebalance has passed the first post-implementation month. We review what worked, what did not, and how current results compare...

Ke Yan, CFA, FRM

Primer: Xiamen Tungsten Co Ltd A (600549 CH) - Dec 2025

Xiamen Tungsten holds a dominant position in the global tungsten market, benefiting from a vertically integrated business model that spans from...

αSK Primers

Pullback Offering Buying Opportunities; Crucial Support at $141.50 on ACWI-US Holding for Now

Pullback Offering Buying Opportunities; Crucial Support at $141.50 on $ACWI Holding for Now; Discussed to trim exposure to Korea $EWY and Taiwan...

Vermilion Research

Bullish Outlook Intact; Downgrading India; Buys in Materials, Energy, Discretionary, Industrials

Bullish Outlook Intact on MSCI ACWI; Downgrading India to Market; Market Dynamics Healthy; Treat Pullbacks as Buying Opportunities; Buys in global...

Vermilion Research

CSI 300 Index Earning Revision (Jul): ZHONGJI INNOLIGHT, GUANGZHOU AUTOMOBILE, INDUSTRIAL BANK

We analyzed CSI 300's consensus for Jul 2026 and highlighted changes of EPS in ZHONGJI INNOLIGHT (300308 CH), GUANGZHOU AUTOMOBILE (601238 CH),...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

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