In today’s briefing:
- STAR Chip Index Rebalance: Shenzhen Bluetrum (688332) Replaces JoulWatt (688141)
- March Key Events in Asia-Pac: Tariffs, Rates, Earnings, and Indices in Focus
- (Mostly) Asia M&A, Feb 2025 Wrap: Domain, Proto, Shibaura, Paragon REIT, Mayne Pharma, PointsBet
- Macro Vol Monthly – March: Weakness Could Continue into Mid-March
STAR Chip Index Rebalance: Shenzhen Bluetrum (688332) Replaces JoulWatt (688141)
- CSI announced the changes for the March rebalance after market close on 28 February and the changes will be effective after the close of trading on 14 March.
- As expected, Shenzhen Bluetrum Technology (688332 CH) will be added to the index while JoulWatt Technology Co (688141 CH) will be deleted.
- Shenzhen Bluetrum Technology (688332 CH) outperformed JoulWatt Technology Co (688141 CH) in the last quarter of 2024 and there has been a reversal of fortunes this calendar year.
March Key Events in Asia-Pac: Tariffs, Rates, Earnings, and Indices in Focus
- Several US tariffs are expected in March, but their implementation remains uncertain and is part of ongoing negotiations.
- Central banks in India, Japan, and the US will announce rate decisions in March, with India possibly cutting rates by 0.25%.
- Major HK stocks are set to announce earnings in March, and index changes will occur in the S&P 500, Nifty 50, S&P/ASX 200, and HSCEI indices.
(Mostly) Asia M&A, Feb 2025 Wrap: Domain, Proto, Shibaura, Paragon REIT, Mayne Pharma, PointsBet
- For the month of February 2025, 14 new transactions (firm and non-binding) were discussed on Smartkarma with an overall announced deal size of ~US$5bn.
- The average premium for the new transactions announced (or first discussed) in February was ~55%, with a year-to-date average also of 56%.
- The average premiums for transactions in 2024 (129 transactions), (2023 (117), 2022 (106), 2021 (165), 2020 (158), and 2019 (145 ) were 43%, 39%, 41%, 33%, 31%, and 31% .
Macro Vol Monthly – March: Weakness Could Continue into Mid-March
- Monthly deep-dive into price and vol metrics across Asian indexes as well as macro assets.
- Provides an in-depth look at the current state of the markets as well as how volatility and price are likely to unfold for March.
- HSI, Nifty, SP500, SPASX200 and Gold are all highlighted as having tradeable patterns in March.
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