Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac ECM and Index Rebal

MS-Japan Index Earning Revision (Aug): Yamaha Motor, Orix, Advantest, Kioxia, Rakuten, Panasonic

MS-Japan Index Earning Revision (Sep): Toyota Motor, Nippon Yusen Kabushiki Kaisha, Recruit

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Index Rebalance

<ul>
<li>MS-Japan rebalance one ADD, Kokusai Electric, and two DELETEs, JFE Holdings and Seibu Holdings, on 1 Sep 2026. We review the completed bridge against nine prior cycles.</li>
<li>Kokusai Electric added +2.8% alpha over the bridge on top of its +13.5% pre-announcement run. Both DELETEs were near flat over the bridge after negative announcement days.</li>
<li>Historically, positive-bridge ADDs gave back in the first implementation week. The historical DELETE first-week record after a positive bridge is flat.</li>
</ul>


MS-Japan rebalance one ADD, Kokusai Electric, and two DELETEs, JFE Holdings and Seibu Holdings, on 1 Sep 2026. We review the completed bridge against nine prior cycles.
Kokusai Electric added +2.8% alpha over the bridge on top of its +13.5% pre-announcement run. Both DELETEs were near flat over the bridge after negative announcement days.
Historically, positive-bridge ADDs gave back in the first implementation week. The historical DELETE first-week record after a positive bridge is flat.


MS-Japan Sep 2026 Index Rebalance: Pre-Implementation Update