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

HSI, HSCEI, HSTECH, HSIII, HSBIO Index Rebalance: US$5bn of Flows Post Capping (Mar 2026)

HSI INDEX Tactical Outlook Ahead of March 6th Index Rebalance

HSI INDEX: Tactical View as Iran War Enters Week 3

HSTECH Index Rebalance Preview: Can Leapmotor Leap into the Index?

HSTECH Index Rebalance: Leapmotor (9863 HK) To Replace ASMPT (522 HK) As Trade Hits US$3.5bn

HSTECH Index Rebalance Preview: Changes If Index Universe Is Expanded

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>As expected, there are no constituent changes for the <a href="https://www.smartkarma.com/entities/hang-seng-tech-index" target="_blank" data-smartkarma-citation="entities:31367:1" rel="noopener">Hang Seng TECH Index (HSTECH INDEX)</a> in March. However, there are float and capping changes.</li>
<li>Estimated one-way turnover is 2.6% leading to a round-trip trade of HK$18.15bn (US$2.3bn). Most stocks will have same-way flows from passive trackers of other indices in the Hang Seng family.</li>
<li>Short interest is elevated in some of the stocks with large flows and shorts could be active in the stocks over the next couple of weeks.</li>
</ul>


As expected, there are no constituent changes for the Hang Seng TECH Index (HSTECH INDEX) in March. However, there are float and capping changes.
Estimated one-way turnover is 2.6% leading to a round-trip trade of HK$18.15bn (US$2.3bn). Most stocks will have same-way flows from passive trackers of other indices in the Hang Seng family.
Short interest is elevated in some of the stocks with large flows and shorts could be active in the stocks over the next couple of weeks.


SMIC (Semiconductor Manufacturing International Corp) (981 HK)

SMIC (Semiconductor Manufacturing International Corp)

Hang Seng China Enterprises Index (HSCEI INDEX)

HSTECH Index Rebalance: No Constituent Changes; Float/Capping Changes Lead to US$2.3bn Trade

JD.com

HSTECH Index Rebalance: No Constituent Changes; Float/Capping Changes Lead to US$2.3bn Trade