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

UOB – China Bank Investment Nationalised, Soaring Building, Construction NPLs

Event-Driven

<p>Since our last Insight, <a href="https://www.smartkarma.com/entities/oversea-chinese-banking-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:114:1">Oversea Chinese Banking Corp. (OCBC SP)</a> has outperformed <a href="https://www.smartkarma.com/entities/united-overseas-bank-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:113:1">United Overseas Bank (UOB SP)</a> by over 5%. With the Price to Book ratio for the stocks trading at almost the same level, we feel the time is right to unwind the trade and position for a period of UOB outperforming OCBC.</p><p>In this Insight, we take a look at how the earlier trade has performed, at the full year results for the stocks (and how there is little to choose from between the two), and at catalysts that could favour UOB over OCBC from here.</p>

Since our last Insight, Oversea Chinese Banking Corp. (OCBC SP) has outperformed United Overseas Bank (UOB SP) by over 5%. With the Price to Book ratio for the stocks trading at almost the same level, we feel the time is right to unwind the trade and position for a period of UOB outperforming OCBC.In this Insight, we take a look at how the earlier trade has performed, at the full year results for the stocks (and how there is little to choose from between the two), and at catalysts that could favour UOB over OCBC from here.

OCBC Vs. UOB - In The Money, Time to Lock It In