Table of Contents
I. Breaking Down Index Risk 3
II. Macro Risk
Interest Rates 4
VIX 5
Commodities Prices 6
Currencies 7
III. Index Breakdown
HSI 9
HSCEI 15
KOSPI 200 23
TWSE 28
MSCI Singapore 30
S&P/ASX 200 32
NIFTY 37
Nikkei 225 42
Topix 43
Topix Core 30 44
Appendix 1: Linear Regression 52
Appendix 2: What is Equity Swap? 53
Contacts 55
Importance Notice 60