In today’s briefing:
- FTSE China A50 Index Ground Rule Change: Big Flows & Large Turnover in March
- Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
- Weekly Wrap – 14 Jan 2022
FTSE China A50 Index Ground Rule Change: Big Flows & Large Turnover in March
- A ground rule change will see Foreign Ownership Restrictions and Minimum Foreign Headroom Requirements applied to the FTSE China A50 Index (XIN9I INDEX) universe from the March rebalance.
- There will be plenty of stocks that will see their investability weight reduced. We estimate a one-way turnover of 15.2% and one-way trade of CNY 8.04bn due to the change.
- Bank Of Ningbo Co Ltd A and Will Semiconductor Ltd are locked in a race for index inclusion in March, while Chongqing Zhifei Biological Products (300122 CH) could be deleted.
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets ended lower with the S&P and Nasdaq down 1.4% and 2.5% respectively. Most sectors were in the red led by IT and Consumer Discretionary down 2.7% and 2.1%. US 10Y Treasury yields were up 1bp to 1.75%. European markets were mixed with the DAX and FTSE up 0.1% and 0.2% while CAC was down 0.5% respectively. Brazil’s Bovespa was down 0.2%. In the Middle East, UAE’s ADX was up 0.7% and Saudi TASI was up 1%. Asian markets have opened broadly lower following losses on Wall Street – Shanghai, HSI and Nikkei were down 0.7%, 0.9% and 1.9% while STI was up 0.4%. US IG CDS spreads were 1.2bp wider and HY CDS spreads also tightened 1.5bp. EU Main CDS spreads were 0.1bp wider and Crossover CDS spreads were 1.9bp tighter. Asia ex-Japan CDS spreads widened 2.2bp.
Weekly Wrap – 14 Jan 2022
Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.
In this Insight:
and more…
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