Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Highly experienced ex-Delta One trader with 17 years of experience trading arbitrage and related strategies across Asian markets.

Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd.

It is important to note that the information provided by Periscope Analytics is based on publicly available data and own knowledge, which has been gathered and synthesized from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions.

All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include, but are not limited to, company announcements, exchange filings, ETF and other passive investment vehicle holdings, and free float and volume data from third-party data providers. Periscope Analytics does not guarantee the accuracy and completeness of the forecasts, estimates and/or other information.

Pan-Asia Index Rebalances/ Events/ Delta One

HSCI Index Rebalance: 53 Adds, 28 Deletes, Changes to Southbound Stock Connect & BIG Outperformance

Hang Seng Internet & IT Index (HSIII) Rebalance: Also, PonyAI in a Global Index, Deepexi in Connect

HSCI Index Rebalance Preview: Semiconductor & Software Stocks Dominate Potential Adds in June

Hang Seng Internet & IT Index (HSIII) Rebalance Preview: Constituent, FAF & Capping Changes

Hang Seng Internet & IT Index (HSIII): Methodology Change & Impact

Hang Seng Internet & IT Index (HSIII) Rebalance Preview: Methodology Change Leads to US$1.25bn Trade

Hang Seng Internet & IT Index (HSIII) Rebalance: 3 Changes; Big FAF Increase for Horizon Robotics

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

<ul>
<li>There could be 3 constituent changes for the HSIII Index in March along with capping changes for the largest index members.</li>
<li>Estimated one-way turnover is 3.3% resulting in a round-trip trade of HK$2.77bn. There are a few stocks with over 1x ADV to trade.</li>
<li>
<a href="https://www.smartkarma.com/entities/pony-ai-inc-f40ea771-20a4-48e1-9405-0a35b4c4aadb" target="_blank" data-smartkarma-citation="entities:46237:1" rel="noopener">Pony AI (2026 HK)</a> has been trading higher over the last several weeks on expectations of large passive buying over the next couple of months.</li>
</ul>


There could be 3 constituent changes for the HSIII Index in March along with capping changes for the largest index members.
Estimated one-way turnover is 3.3% resulting in a round-trip trade of HK$2.77bn. There are a few stocks with over 1x ADV to trade.

Pony AI (2026 HK) has been trading higher over the last several weeks on expectations of large passive buying over the next couple of months.


Hong Kong Exchanges and Clearing (388 HK)

Hang Seng Internet & IT Index (HSIII) Rebalance Preview: 3 Changes as Pony AI Jumps

Pony.ai

Hang Seng Internet & IT Index (HSIII) Rebalance Preview: 3 Changes as Pony AI Jumps