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

Shanghai Fudan Microelectronic / Index Rebalance

Shanghai Fudan Microelectronic (688385 CH)

<ul>
<li>The index committee has continued to use a 6-month minimum listing history leading to five changes to the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a> in March.</li>
<li>One way turnover is estimated at 4.95% and will result in a one-way trade of CNY 4,413m. The estimated impact on the deletes is higher than that on the adds.</li>
<li>The inclusions have outperformed the deletions over multiple time periods. There will be pre-positions on the stocks and those could be unwound over the next week or two.</li>
</ul>


The index committee has continued to use a 6-month minimum listing history leading to five changes to the SSE STAR50 (STAR50 INDEX) in March.
One way turnover is estimated at 4.95% and will result in a one-way trade of CNY 4,413m. The estimated impact on the deletes is higher than that on the adds.
The inclusions have outperformed the deletions over multiple time periods. There will be pre-positions on the stocks and those could be unwound over the next week or two.


STAR50 Index Rebalance: Five Changes as Adds Bigly Outperform Deletes

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.

Equity Capital Markets

Guangzhou Tinci Materials Technlgy / Equity Capital Markets

Guangzhou Tinci Materials Technlgy (002709 CH)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/guangzhou-tinci-materials-technlgy" target="_blank" data-smartkarma-citation="entities:20975:1" rel="noopener">Guangzhou Tinci Materials Technlgy (002709 CH)</a> is looking to raise up to US$1.5bn in its upcoming Swiss GDR listing. Bookrunners on the deal are CICC, HSBC, and JPMorgan.</li>
<li>As per the firm’s filings, it is to issue no more than 289m A-shares, or not exceeding 15% of the firm’s total ordinary share capital.</li>
<li>In this note, we discuss the GDR's timeline, and the firm’s recent financial performance.</li>
</ul>



Guangzhou Tinci Materials Technlgy (002709 CH) is looking to raise up to US$1.5bn in its upcoming Swiss GDR listing. Bookrunners on the deal are CICC, HSBC, and JPMorgan.
As per the firm’s filings, it is to issue no more than 289m A-shares, or not exceeding 15% of the firm’s total ordinary share capital.
In this note, we discuss the GDR's timeline, and the firm’s recent financial performance.


Guangzhou Tinci Materials GDR Listing Early Look - US$1.5bn Raising Could Further Aid Growth Plans

Technical Analysis / Chartered Market Technician, The Markets Academy

David Coloretti, CMT

Technical Analysis / Chartered Market Technician

The Markets Academy

TMA implements 2 strategies. 1) Tactical ... Trend Sustainability Score (TSS) allows TMA to identify exhaustion / reversal points in interim trends by utilising our proprietary analysis of ST momentum indicators. 2) Medium Term ... our 3 Pillars approach to technical analysis allows TMA to determine high probability medium term outcomes in markets.

Technical Analysis

Zhejiang HangKe Technology  / Technical Analysis

<ul>
<li>At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.</li>
<li>January completed a bullish 3 month reversal pattern in 688006 CH and thus confirmed a likely MT bottom.</li>
<li>688006 CH has had an incredible pivotal relationship with its 50 week MA since 2020. A weekly close above the 50 week MA will confirm a high probability MT uptrend.</li>
</ul>


At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
January completed a bullish 3 month reversal pattern in 688006 CH and thus confirmed a likely MT bottom.
688006 CH has had an incredible pivotal relationship with its 50 week MA since 2020. A weekly close above the 50 week MA will confirm a high probability MT uptrend.


Zhejiang HangKe Technology-A (688006 CH) - Confirming a Tradeable Bullish Multi-Month Opportunity

Qingdao Haier Biomedical  Lt / Index Rebalance

<ul>
<li>The review period for the March rebalance ends today. We forecast 2 changes using a 12-month minimum listing history, and 5 changes using a 6-month minimum listing history.</li>
<li>We expect the index committee to continue using a 6-month minimum listing history. The impact on the potential deletes is a lot higher than the impact on the potential adds.</li>
<li>With 5 changes to the index, estimated one-way turnover is 5.1% resulting in a one-way trade of CNY 4,549m. There is a reasonably large reverse funding trade.</li>
</ul>


The review period for the March rebalance ends today. We forecast 2 changes using a 12-month minimum listing history, and 5 changes using a 6-month minimum listing history.
We expect the index committee to continue using a 6-month minimum listing history. The impact on the potential deletes is a lot higher than the impact on the potential adds.
With 5 changes to the index, estimated one-way turnover is 5.1% resulting in a one-way trade of CNY 4,549m. There is a reasonably large reverse funding trade.


STAR50 Index Rebalance Preview: 5 Changes Forecast as Review Period Ends

<ul>
<li>Nearly 85% of the way through the review period, we see 2 changes using a 12-month minimum listing history, and 5 changes using a 6-month minimum listing history.</li>
<li>Given the significantly higher market cap of the inclusions using a 6-month minimum listing history, we expect the index committee will continue to use the shorter listing history requirement.</li>
<li>With 5 changes a side, one-way turnover is estimated at 5.15% and will result in a one-way trade of CNY 3,994m. Impact on some deletions is quite high.</li>
</ul>


Nearly 85% of the way through the review period, we see 2 changes using a 12-month minimum listing history, and 5 changes using a 6-month minimum listing history.
Given the significantly higher market cap of the inclusions using a 6-month minimum listing history, we expect the index committee will continue to use the shorter listing history requirement.
With 5 changes a side, one-way turnover is estimated at 5.15% and will result in a one-way trade of CNY 3,994m. Impact on some deletions is quite high.


STAR50 Index Rebalance Preview: Another Five Potential Changes in March

China

Zhejiang HangKe Technology Incorporated Company manufactures battery test equipment. The Company produces and sells column type lithium battery formation test equipment, polymer lithium battery formation and test equipment, high end traction battery post processing systema, and other products. Zhejiang HangKe Technology markets its products worldwide.

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

Zhejiang HangKe Technology (688006 CH)

STAR50 Index Rebalance: Five Changes as Adds Bigly Outperform Deletes

There are 5 changes in March as the index committee stick to a 6-month minimum listing history. The adds have outperformed the deletes by a big...

Brian Freitas

Guangzhou Tinci Materials GDR Listing Early Look - US$1.5bn Raising Could Further Aid Growth Plans

Guangzhou Tinci Materials Technlgy (002709 CH) is looking to raise up to US$1.5bn in its Swiss GDR listing. In this note, we discuss GDR timelines,...

Clarence Chu

Zhejiang HangKe Technology-A (688006 CH) - Confirming a Tradeable Bullish Multi-Month Opportunity

30+ years as a technical analyst and a razor sharp focus on momentum confirmation delivered TMA a 75% unleveraged return on our 7 Smartkarma...

David Coloretti, CMT

STAR50 Index Rebalance Preview: 5 Changes Forecast as Review Period Ends

There could be 5 index changes in March if the index committee continues using a 6-month minimum listing history. One-way turnover will be over 5%....

Brian Freitas

STAR50 Index Rebalance Preview: Another Five Potential Changes in March

There could be 5 changes using a 6-month minimum listing history. One-way turnover will be 5%+ resulting in a one-way trade of CNY4bn. Impact on...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)