Asia Pac ECM and Index Rebal, DZT 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

STAR50 Jun 2026 Index Rebalance: Post-Announcement Positioning

STAR50 Index Earning Revision (Feb): CAMBRICON, TRINA SOLAR, TRANSSION, Advanced Micro

STAR50 Index Earning Revision (Jan): TRINA SOLAR, JINKO SOLAR, BIWIN STORAGE, Ninebot

STAR50 Index Earning Revision (Nov): NATIONAL SILICON INDUSTRY, LOONGSON TECHNOLOGY

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT 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.

Event-Driven

<ul>
<li>This note examines the price behaviour of stocks added to and deleted from the STAR50 Index across seven rebalance events (June 2024 through March 2026).</li>
<li>We test whether market participants systematically front-run index changes during the announcement-to-implementation window, and whether that front-running creates predictable post-implementation reversals.</li>
<li>The analysis uses free-float shares as a percentage of average daily volume (FF/ADV) as the primary proxy for expected flow impact.</li>
</ul>


This note examines the price behaviour of stocks added to and deleted from the STAR50 Index across seven rebalance events (June 2024 through March 2026).
We test whether market participants systematically front-run index changes during the announcement-to-implementation window, and whether that front-running creates predictable post-implementation reversals.
The analysis uses free-float shares as a percentage of average daily volume (FF/ADV) as the primary proxy for expected flow impact.


Semiconductor Manufacturing International Corporation (SMIC) (688981 CH)

Semiconductor Manufacturing International Corporation (SMIC)

Hygon Information Technology C (688041 CH)

STAR50指数リバランス（定量的イベントスタディ）：歴史的パターンと現在のイベント分析

Geovis Technology

STAR50指数リバランス（定量的イベントスタディ）：歴史的パターンと現在のイベント分析