This post is a follow up from my earlier post about the MSCI Singapore rebalancing (MSCI Singapore Index Rebalancing Impact on Stocks)
Quick recap: MSCI announced a rebalancing of the MSCI Singapore and MSCI Singapore Small-Cap indices resulting in the trading idea of buying the additions and shorting the deletions. In particular, I highlighted that the impact from the MSCI Singapore changes would be much larger than the Small-Cap index due to the size of funds tracking them.

MSCI Singapore Small-Cap Changes (Source: MSCI)

MSCI Singapore Changes (Source: MSCI)
The price changes in the abovementioned stocks appear to be reflective of the initial thesis I had. This price was supported by extremely strong volume across the few stocks, way above their daily average trading volumes. Post-cutoff date, as funds finish up with their buying, there is a chance that investors who have benefitted from the price increases would take the chance to realize some profit for stocks that