Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Index Rebalance

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>There are no constituent changes for the <a href="https://www.smartkarma.com/entities/vaneck-vectors-semiconductor" target="_blank" data-smartkarma-citation="entities:32807:1" rel="noopener">VanEck Vectors Semiconductor (SMH US)</a> ETF in September but there are a lot of float and capping changes.</li>
<li>
<a href="https://www.smartkarma.com/entities/taiwan-semiconductor-sp-adr" target="_blank" data-smartkarma-citation="entities:8587:1" rel="noopener">TSMC - ADR</a> and <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA</a> are the largest sells with buying spread across <a href="https://www.smartkarma.com/entities/asml-holding-nv-b0092428-e3ec-4a92-bdd6-2f6eff7f1879" target="_blank" data-smartkarma-citation="entities:28204:1" rel="noopener">ASML Holding NV</a>, <a href="https://www.smartkarma.com/entities/qualcomm-inc" target="_blank" data-smartkarma-citation="entities:969:1" rel="noopener">Qualcomm Inc</a>, <a href="https://www.smartkarma.com/entities/applied-materials-inc" target="_blank" data-smartkarma-citation="entities:283:1" rel="noopener">Applied Materials</a> and <a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron Technology</a>.</li>
<li>The selling in <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a> will add to the selling from the <a href="https://www.smartkarma.com/entities/technology-select-sector-spdr" target="_blank" data-smartkarma-citation="entities:27543:1" rel="noopener">Technology Select Sector SPDR (XLK US)</a> due to the market consultation.</li>
</ul>


There are no constituent changes for the VanEck Vectors Semiconductor (SMH US) ETF in September but there are a lot of float and capping changes.

TSMC - ADR and NVIDIA are the largest sells with buying spread across ASML Holding NV, Qualcomm Inc, Applied Materials and Micron Technology.
The selling in NVIDIA Corp (NVDA US) will add to the selling from the Technology Select Sector SPDR (XLK US) due to the market consultation.


MV US Listed Semiconductor 25 Index Rebalance: Round-Trip Trade Over US$2bn

Semiconductors, Memory and SSDs Specialist, Objective Analysis

Jim Handy

Semiconductors, Memory and SSDs Specialist

Objective Analysis

Objective Analysis offers third-party independent market research and data for the semiconductor industry and investors in the semiconductor industry.

Semiconductors, Memory and SSDs

Thematic (Sector/Industry)

<ul>
<li>Japan's Meteorological Agency has issued a warning of an upcoming serious 8-9-point earthquake</li>
<li>The expected epicenter is home to at least one dozen semiconductor wafer fabrication plants: "Fabs"</li>
<li>While it's hard to predict earthquakes, this news should be considered when investing in the area.</li>
</ul>


Japan's Meteorological Agency has issued a warning of an upcoming serious 8-9-point earthquake
The expected epicenter is home to at least one dozen semiconductor wafer fabrication plants: "Fabs"
While it's hard to predict earthquakes, this news should be considered when investing in the area.


Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

<ul>
<li>This is going to be a big week, so I’ll be as brief as I can while getting everything in one place.</li>
<li>Let’s start with Automotive, which is my favorite idea set right now. The problem is that the near-term results were much weaker than I expected, and it looks like the bottom is maybe in.</li>
<li>I was expecting another quarter of scrapping along the bottom, and Industrial weakness punched a new low.</li>
</ul>


This is going to be a big week, so I’ll be as brief as I can while getting everything in one place.
Let’s start with Automotive, which is my favorite idea set right now. The problem is that the near-term results were much weaker than I expected, and it looks like the bottom is maybe in.
I was expecting another quarter of scrapping along the bottom, and Industrial weakness punched a new low.


Earnings: NXPI, CDNS, TXN, SLAB, Alphawave, TSEM, KLAC, SK Hynix, MXL, STM, ASMI, VRT, UCTT

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>The Texas Instruments had a mixed Q2, reporting revenue of $3.8 billion, a 4% sequential increase but 16% YoY decline.</li><li>This contrasted with their optimistic revenue predictions for Q3, forecasting in the range of $3.94 billion to $4.26 billion.</li><li>This could have been due to the decline in Analog revenue by 11% YoY, Embedded Processing by 31%, and its Other segment by 22% from YoY quarter.</li></ul>

The Texas Instruments had a mixed Q2, reporting revenue of $3.8 billion, a 4% sequential increase but 16% YoY decline.This contrasted with their optimistic revenue predictions for Q3, forecasting in the range of $3.94 billion to $4.26 billion.This could have been due to the decline in Analog revenue by 11% YoY, Embedded Processing by 31%, and its Other segment by 22% from YoY quarter.

Texas Instruments: Is Its China Revival Here To Stay? - Major Drivers

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

<ul>
<li>Taiwan Stocks Fall On Potential New U.S. Tech Restrictions for China &amp; Potential Policy Shift from a Trump White House... Strong TSMC &amp; ASML Results Fail to Rally the Sector</li>
<li>Even Tighter Technology Restrictions for China?  -- US Could Use Special Rule to Restrict Selling of Products Made by Foreign Companies</li>
<li>We See TSMC's Margins Increasing Much Higher Than Guidance in Long-Term; 2Q24 Shows Apple Ramping Up </li>
</ul>


Taiwan Stocks Fall On Potential New U.S. Tech Restrictions for China &amp; Potential Policy Shift from a Trump White House... Strong TSMC &amp; ASML Results Fail to Rally the Sector
Even Tighter Technology Restrictions for China?  -- US Could Use Special Rule to Restrict Selling of Products Made by Foreign Companies
We See TSMC's Margins Increasing Much Higher Than Guidance in Long-Term; 2Q24 Shows Apple Ramping Up 


Taiwan Tech Weekly: Strong TSMC & ASML Data Fails to Rally the Semiconductor Sector

United States

Texas Instruments Incorporated operates as a semiconductor design and manufacturing company. The Company develops analog ICs and embedded processors. Texas Instruments has manufacturing or sales operations worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Texas Instruments (TXN US)

MV US Listed Semiconductor 25 Index Rebalance: Round-Trip Trade Over US$2bn

No constituent changes but a lot of capping changes. Estimated one-way turnover is 4.9% resulting in a one-way trade of US$1.04bn. The selling in...

Brian Freitas

Could a Japan "Megaquake" Disrupt Semis?

Japan's Meteorological Agency predicted that a catastrophic earthquake is now many times more likely than before. This insight examines what that...

Jim Handy

Earnings: NXPI, CDNS, TXN, SLAB, Alphawave, TSEM, KLAC, SK Hynix, MXL, STM, ASMI, VRT, UCTT

This is going to be a big week, so I’ll be as brief as I can while getting everything in one place. Let’s start with Automotive, which is my...

Fabricated Knowledge

Texas Instruments: Is Its China Revival Here To Stay? - Major Drivers

The Texas Instruments had a mixed Q2, reporting revenue of $3.8 billion, a 4% sequential increase but 16% YoY decline. This contrasted with their...

Baptista Research

Taiwan Tech Weekly: Strong TSMC & ASML Data Fails to Rally the Semiconductor Sector

Taiwan stocks dropped last week as potential new US tech restrictions for China loom, despite strong TSMC and ASML results. Apple ramping up...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

MV US Listed Semiconductor 25 Index Rebalance: Round-Trip Trade Over US$2bn

No constituent changes but a lot of capping changes. Estimated one-way turnover is 4.9% resulting in a one-way trade of US$1.04bn. The selling in...

Brian Freitas

Could a Japan "Megaquake" Disrupt Semis?

Japan's Meteorological Agency predicted that a catastrophic earthquake is now many times more likely than before. This insight examines what that...

Jim Handy

Earnings: NXPI, CDNS, TXN, SLAB, Alphawave, TSEM, KLAC, SK Hynix, MXL, STM, ASMI, VRT, UCTT

This is going to be a big week, so I’ll be as brief as I can while getting everything in one place. Let’s start with Automotive, which is my...

Fabricated Knowledge

Texas Instruments: Is Its China Revival Here To Stay? - Major Drivers

The Texas Instruments had a mixed Q2, reporting revenue of $3.8 billion, a 4% sequential increase but 16% YoY decline. This contrasted with their...

Baptista Research

Taiwan Tech Weekly: Strong TSMC & ASML Data Fails to Rally the Semiconductor Sector

​Taiwan stocks dropped last week as potential new US tech restrictions for China loom, despite strong TSMC and ASML results. Apple ramping up...

Vincent Fernando, CFA

Taiwan stocks dropped last week as potential new US tech restrictions for China loom, despite strong TSMC and ASML results. Apple ramping up...