In today’s briefing:
- HSCEI Dec 2022 Rebalance – 4 IN, 4 OUT, 3% One-Way Flow
- Link Admin’s In-Specie Distribution of PEXA: Active Selling Followed by Passive Buying
- SPX 4,100 Top Build Ahead of 3,300
- The 2022 Crypto Debt Crisis
HSCEI Dec 2022 Rebalance – 4 IN, 4 OUT, 3% One-Way Flow
- The HSCEI sees 4 names out, 4 names in. The ADDs are PetroChina (857 HK), Zhongsheng Group (881 HK), Li Auto (2015 HK), Haier Smart Home Co Ltd (6690 HK).
- The DELETEs are Alibaba Health Information Technology (241 HK), China Gas Holdings (384 HK), Innovent Biologics Inc (1801 HK), and Bilibili (9626 HK).
- One way volume is just under 4.7% with all the name changes, FAF changes, and capping flows.
Link Admin’s In-Specie Distribution of PEXA: Active Selling Followed by Passive Buying
- Link Administration (LNK AU) is selling 10% of its shareholding in PEXA Group (PXA) and plans to proceed with an in-specie distribution of the remainder to Link shareholders in January.
- The increased float will make PEXA Group (PXA AU) the highest ranked non-index constituent and that should result in inclusion to the S&P/ASX 200 (AS51 INDEX) in March.
- There could be selling on PEXA Group (PXA AU) from Link Administration (LNK AU) shareholders following the distribution. Then the passive flows will kick in and support the stock.
SPX 4,100 Top Build Ahead of 3,300
- SPX has another tactical leg up within our Q4 bull cycle toward 4,100-200 where a top is expected to form.
- Lead warning signals are emerging in the RTY relative performance and well-defined rising wedge. NDX trading new key lows is a negative for growth.
- SPX 4,100 wedge sell zone stands out for a final down leg to 3,300/200, that sets the stage for a macro low a new bull cycle.
The 2022 Crypto Debt Crisis
- Over the past week and a half, we witnessed the unravelling of the $32 billion empire that was FTX and the fall of its “benevolent” leader Sam Bankman-Fried, otherwise known as SBF.
- This story of overleveraging and outright fraud has formed a part of the bigger crypto debt crisis of 2022.
- This article will explore how this debt crisis has unfolded and how all parties were closely interlinked.
💡 Before it’s here, it’s on Smartkarma
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