Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton 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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Aug 14th. The aggregated short interest was USD43.9bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Shin Kong Financial, Nan Ya Plastics, Quanta Computer, Zhen Ding Technology, ASE Industrial.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Aug 14th. The aggregated short interest was USD43.9bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Shin Kong Financial, Nan Ya Plastics, Quanta Computer, Zhen Ding Technology, ASE Industrial.


TWSE Short Interest Weekly (Aug 14th): Shin Kong Financial, Nan Ya Plastics, Quanta Computer

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 7th. The aggregated holding was USD2,146.7bn.</li>
<li>We estimate that foreign flows to be inflows of USD3,263mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Quanta Computer, Nanya Technology, TSMC, Wistron, Hon Hai Precision.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 7th. The aggregated holding was USD2,146.7bn.
We estimate that foreign flows to be inflows of USD3,263mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Quanta Computer, Nanya Technology, TSMC, Wistron, Hon Hai Precision.


TWSE Foreign Holding Weekly (Aug 7th): Quanta Computer, Nanya Technology, TSMC, Wistron

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 31st. The aggregated holding was USD2,114.0bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,089mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, MediaTek, Delta Electronics, Chroma ATE, PharmaEssentia.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 31st. The aggregated holding was USD2,114.0bn.
We estimate that foreign flows to be outflows of USD2,089mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, MediaTek, Delta Electronics, Chroma ATE, PharmaEssentia.


TWSE Foreign Holding Weekly (Jul 31st): TSMC, MediaTek, Delta Electronics, Chroma ATE

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Jul 31st. The aggregated short interest was USD41.0bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Shin Kong Financial, Hon Hai Precision, TSMC, Zhen Ding Technology, LARGAN Precision.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jul 31st. The aggregated short interest was USD41.0bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Shin Kong Financial, Hon Hai Precision, TSMC, Zhen Ding Technology, LARGAN Precision.


TWSE Short Interest Weekly (Jul 31st): Shin Kong Financial, Hon Hai Precision, TSMC

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>A recent shift in momentum has pushed Taiwan to the largest country level underweight in the Asia Ex-Japan region</li>
<li>Taiwan Technology stocks have driven allocations lower, in addition to Consumer Discretionary and Staples, Health Care and Financials.</li>
<li>Taiwan Tech remains the key risk.  Sentiment is starting to waver when funds are close to maximum exposure.  Underperformance here will be costly on both an absolute a relative basis</li>
</ul>


A recent shift in momentum has pushed Taiwan to the largest country level underweight in the Asia Ex-Japan region
Taiwan Technology stocks have driven allocations lower, in addition to Consumer Discretionary and Staples, Health Care and Financials.
Taiwan Tech remains the key risk.  Sentiment is starting to waver when funds are close to maximum exposure.  Underperformance here will be costly on both an absolute a relative basis


Taiwan Moves to Top Underweight, Tech Overweight Risk

Taiwan

Yageo Corporation manufactures resistors and related equipment.  The Company also produces thick-film resistors which are used in downstream electronics products, and high power thin-film resistors and chip resistors which are used in aerospace, automobile, and precision electronics industries.  Through its subsidiaries, Yageo also operates a consumer goods importing business.

Price Gauge
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Yageo Corporation (2327 TT)

TWSE Short Interest Weekly (Aug 14th): Shin Kong Financial, Nan Ya Plastics, Quanta Computer

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Shin Kong Financial, Nan Ya Plastics, Quanta...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Aug 7th): Quanta Computer, Nanya Technology, TSMC, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Quanta Computer, Nanya Technology, TSMC,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Jul 31st): TSMC, MediaTek, Delta Electronics, Chroma ATE

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, MediaTek, Delta Electronics, Chroma ATE,...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Jul 31st): Shin Kong Financial, Hon Hai Precision, TSMC

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Shin Kong Financial, Hon Hai Precision, TSMC,...

Ke Yan, CFA, FRM

Taiwan Moves to Top Underweight, Tech Overweight Risk

A recent shift in momentum has pushed Taiwan to the largest country level underweight in the Asia Ex-Japan region, with the Technology sector one...

Steven Holden

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)