Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Bestechnic (Shanghai) Co., Ltd. develops, manufactures, and sells intelligent audio system on a chip (SoC) products. The Company produces bluetooth audio chips, type-C audio chips, and other related products. Bestechnic (Shanghai) supplies its products to headsets, intelligent audio terminals, and other makers.

<ul>
<li>STAR 50 Index is a tech-focused, blue-chip index in Mainland China which tracks the top 50 largest and most liquid names in the STAR market of the Shanghai Stock Exchange.</li>
<li>STAR 100 index tracks the next 100 names (51st-150th ranks) and it represents the mid-cap segment of the STAR market.</li>
<li>In this insight, we take a look at the potential ADDs/DELs for the STAR 50 and STAR 100 indices for the June 2025 index rebal event.</li>
</ul>


STAR 50 Index is a tech-focused, blue-chip index in Mainland China which tracks the top 50 largest and most liquid names in the STAR market of the Shanghai Stock Exchange.
STAR 100 index tracks the next 100 names (51st-150th ranks) and it represents the mid-cap segment of the STAR market.
In this insight, we take a look at the potential ADDs/DELs for the STAR 50 and STAR 100 indices for the June 2025 index rebal event.


Quiddity Leaderboard STAR 50/100 Jun25: Rare Sector-Neutral ADDs Vs DELs Trade with Positive Momentum

Evolution Mining Ltd is a gold exploration company with operations in Western Australia. The Company owns the gold mines -Cracow, Edna May, Mt Rawdon, and Pajingo - and the Mt Carlton development project.

<ul>
<li>In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2025 index rebal event.</li>
<li>We expect one change for ASX 20, one change for ASX 50, two changes for ASX 100, and one change for ASX 200. One month left in the reference period.</li>
<li>Our long basket is up 14% vs shorts in a month. Index Rebal is coming back. ASX Index final index changes will be announced publicly on 6th June 2025.</li>
</ul>


In this insight, we take a look at the potential index changes for ASX 200, 100, 50, and 20 in the run-up to the June 2025 index rebal event.
We expect one change for ASX 20, one change for ASX 50, two changes for ASX 100, and one change for ASX 200. One month left in the reference period.
Our long basket is up 14% vs shorts in a month. Index Rebal is coming back. ASX Index final index changes will be announced publicly on 6th June 2025.


Quiddity Leaderboard ASX Jun25: LONGs up +14% Vs SHORTs in a Month; Some Changes to Expectations

Atalaya Mining Plc, together with its subsidiaries, explores for and develops base and precious metals primarily in Spain. It principally holds a 100% interest in the Proyecto Riotinto project located in Andaluc�a, Spain. The company was formerly known as EMED Mining Public Limited and changed its name to Atalaya Mining Plc in October 2015. Atalaya Mining Plc was incorporated in 2004 and is based in Nicosia, Cyprus.

<ul>
<li>In this insight, we take a look at the potential index changes for F100 and F250 indices in the run-up to the June 2025 index rebal event.</li>
<li>We see one M&amp;A-related intra-review change for the F250 index in the next few days.</li>
<li>Separately, our latest estimates suggest there could be two regular changes for the F250 index during the June 2025 rebalance. We do not currently see any changes for the F100.</li>
</ul>


In this insight, we take a look at the potential index changes for F100 and F250 indices in the run-up to the June 2025 index rebal event.
We see one M&amp;A-related intra-review change for the F250 index in the next few days.
Separately, our latest estimates suggest there could be two regular changes for the F250 index during the June 2025 rebalance. We do not currently see any changes for the F100.


Quiddity Leaderboard F100/F250 Jun25: One High-Impact Intra-Review Change Soon; More Changes Later

Trent Limited operates a chain of retail stores that sell fashion apparel, cosmetics, perfumery products and toiletry items. The Company sells apparel for men, women and children. Trent sells its cosmetics products under the "Westside" and "Trent" brand names.

<ul>
<li>In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, BSE 100, and BSE 200 indices in the June 2025 index rebal event.</li>
<li>As things stand, there could be two index changes for the SENSEX index.</li>
<li>There could be three ADDs/DELs for the BSE 100 index and eight ADDs/DELs for the BSE 200 index.</li>
</ul>


In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, BSE 100, and BSE 200 indices in the June 2025 index rebal event.
As things stand, there could be two index changes for the SENSEX index.
There could be three ADDs/DELs for the BSE 100 index and eight ADDs/DELs for the BSE 200 index.


Quiddity Leaderboard BSE/​​​​SENSEX Jun25: Pair Trade Delivers Strong Alpha; More Pair Trade Ideas

Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, news, MP3, and image searches, voice assistance, online storage, and navigation services. Baidu serves clients globally.

<ul>
<li>The Hang Seng Internet &amp; IT (HSIII) index represents the top 30 stocks related to internet and information technology businesses listed in Hong Kong (HKEX).</li>
<li>In this insight, we take a look at our flow expectations for the June 2025 index rebal event.</li>
<li>We have also presented our index change expectations for the next semiannual index review which will take place in September 2025 (regular ADDs/DELs only take place in March and September).</li>
</ul>


The Hang Seng Internet &amp; IT (HSIII) index represents the top 30 stocks related to internet and information technology businesses listed in Hong Kong (HKEX).
In this insight, we take a look at our flow expectations for the June 2025 index rebal event.
We have also presented our index change expectations for the next semiannual index review which will take place in September 2025 (regular ADDs/DELs only take place in March and September).


Quiddity Leaderboard HSIII Jun25: US$317mn One-Way in June; Three Changes Likely in September

Equity Analyst with 10+ years experience in fundamental and event-driven research.

On Smartkarma, I mainly publish insights on index flow events. This includes predicting regular and intra-review index changes and formulating market-neutral trading strategies based on flow catalysts. I also cover special situations such as mergers & acquisitions, equity offerings, buybacks, and other corporate restructuring events.

Janaghan Jeyakumar, CFA
Pan-Asia Index Flows & Special Situations
• Quiddity Advisors

Quiddity Leaderboard STAR 50/100 Jun25: Rare Sector-Neutral ADDs Vs DELs Trade with Positive Momentum

These are our final expectations for the STAR 50 index for the June 2025 index rebal event. The reference period ends on 30th April 2025 but we do...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Jun25: LONGs up +14% Vs SHORTs in a Month; Some Changes to Expectations

Collectively, there could be US$416mn one-way flow for the ASX index family in June 2025. Most of the expected index changes could have multiple...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard F100/F250 Jun25: One High-Impact Intra-Review Change Soon; More Changes Later

The International Distribution (IDS LN) deal could close soon and the name could get deleted in May 2025. The top-ranked replacement name is...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard BSE/SENSEX Jun25: Pair Trade Delivers Strong Alpha; More Pair Trade Ideas

The LONG Tata Consumer - SHORT Nestle India trade generated a return of +9% which was significantly better than the -13% generated by the standard...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard HSIII Jun25: US$317mn One-Way in June; Three Changes Likely in September

We expect US$317mn one-way flows in June 2025 and then there could be three ADDs and three DELs in September 2025. The September 2025 rankings can...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard STAR 50/100 Jun25: Rare Sector-Neutral ADDs Vs DELs Trade with Positive Momentum

These are our final expectations for the STAR 50 index for the June 2025 index rebal event. The reference period ends on 30th April 2025 but we do...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard ASX Jun25: LONGs up +14% Vs SHORTs in a Month; Some Changes to Expectations

Collectively, there could be US$416mn one-way flow for the ASX index family in June 2025. Most of the expected index changes could have multiple...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard F100/F250 Jun25: One High-Impact Intra-Review Change Soon; More Changes Later

The International Distribution (IDS LN) deal could close soon and the name could get deleted in May 2025. The top-ranked replacement name is...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard BSE/​​​​SENSEX Jun25: Pair Trade Delivers Strong Alpha; More Pair Trade Ideas

The LONG Tata Consumer - SHORT Nestle India trade generated a return of +9% which was significantly better than the -13% generated by the standard...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard HSIII Jun25: US$317mn One-Way in June; Three Changes Likely in September

We expect US$317mn one-way flows in June 2025 and then there could be three ADDs and three DELs in September 2025. The September 2025 rankings can...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard BSE/SENSEX Jun25: Pair Trade Delivers Strong Alpha; More Pair Trade Ideas