Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

FineToday Holdings / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/finetoday-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:44092:1" rel="noopener">FineToday Holdings (420A JP)</a> (FT) is planning to raise around US$280m via selling a mix of primary and secondary shares.</li>
<li>FineToday (FT) is a beauty and personal care company in Asia offering a range of products, including hair care, skin care and body care products.</li>
<li>In our previous note, we had looked at its past performance. In this note, we will talk about the updates from its most recent filings.</li>
</ul>



FineToday Holdings (420A JP) (FT) is planning to raise around US$280m via selling a mix of primary and secondary shares.
FineToday (FT) is a beauty and personal care company in Asia offering a range of products, including hair care, skin care and body care products.
In our previous note, we had looked at its past performance. In this note, we will talk about the updates from its most recent filings.


Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlights: Currently nine pair trade opportunities across four markets and five sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: Currently nine pair trade opportunities across four markets and five sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (6 Oct)

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>Global funds remain structurally underweight Asia, with Japan and China &amp; HK widely held but still below index weight; India stands out as the clearest consensus underweight.</li>
<li>Taiwan Technology dominates sector positioning as the largest regional overweight, while Australian and Asian Financials are structural underweights; rotation shows China sectors and Japan Financials/Industrials gaining traction.</li>
<li>Stock leadership is highly concentrated in TSMC, now owned by 61% of funds; second-tier names stagnate while SK Hynix, BYD, and Sea Ltd attract rising investor participation.</li>
</ul>


Global funds remain structurally underweight Asia, with Japan and China &amp; HK widely held but still below index weight; India stands out as the clearest consensus underweight.
Taiwan Technology dominates sector positioning as the largest regional overweight, while Australian and Asian Financials are structural underweights; rotation shows China sectors and Japan Financials/Industrials gaining traction.
Stock leadership is highly concentrated in TSMC, now owned by 61% of funds; second-tier names stagnate while SK Hynix, BYD, and Sea Ltd attract rising investor participation.


<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlights: Currently ten pair trade opportunities across four markets and four sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: Currently ten pair trade opportunities across four markets and four sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (29 Sep)

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>Multi-Week forecasts for the Asian indices and stocks we track, based on our proprietary probability model.</li>
<li>OVERBOUGHT: <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> , <a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a> , <a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" data-smartkarma-citation="entities:73:1" rel="noopener">Toyota Motor (7203 JP)</a> , <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> </li>
<li>OVERSOLD: <a href="https://www.smartkarma.com/entities/china-mobile-ltd" target="_blank" data-smartkarma-citation="entities:27:1" rel="noopener">China Mobile (941 HK)</a> , <a href="https://www.smartkarma.com/entities/fast-retailing-co-ltd" target="_blank" data-smartkarma-citation="entities:751:1" rel="noopener">Fast Retailing (9983 JP)</a>
</li>
</ul>


Multi-Week forecasts for the Asian indices and stocks we track, based on our proprietary probability model.
OVERBOUGHT: Samsung Electronics (005930 KS) , Softbank Group (9984 JP) , Toyota Motor (7203 JP) , Nikkei 225 (NKY INDEX) 
OVERSOLD: China Mobile (941 HK) , Fast Retailing (9983 JP)



Asia/Pacific Stocks Outlook For the Week Sep 29-Oct 3

Japan

Toyota Motor Corporation manufactures, sells, leases, and repairs passenger cars, trucks, buses, and their related parts worldwide. The Company also operates financing services through their subsidiaries. Toyota Motor builds homes, produces pleasure boats, and develops intelligent transportation systems including radar cruise control and electronic toll collection systems.

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Toyota Motor (7203 JP)

FineToday Pre-IPO - Refiling Updates

FineToday Holdings (420A JP) (FT) is planning to raise around US$280m via selling a mix of primary and secondary shares. In this note, we talk...

Sumeet Singh

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (6 Oct)

Statistical methodology identifies nine pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Gaudenz Schneider

Global Fund Positioning in Asia

Global funds stay structurally underweight Asia, with Japan and China leading the way. Taiwan Tech dominates sector overweights, while TSMC tops...

Steven Holden

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (29 Sep)

Ten pair trade opportunities across four markets and four sectors, based on quantitative methodology. Offering unique insights into relative value.

Gaudenz Schneider

Asia/Pacific Stocks Outlook For the Week Sep 29-Oct 3

Multi-week forecasts for Asian indices and stocks show Samsung Electronics, Softbank Group, Toyota Motor, and Nikkei 225 as overbought, while...

Nico Rosti

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

FineToday Pre-IPO - Refiling Updates

FineToday Holdings (420A JP) (FT) is planning to raise around US$280m via selling a mix of primary and secondary shares. In this note, we talk...

Sumeet Singh

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (6 Oct)

​Statistical methodology identifies nine pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Gaudenz Schneider

Global Fund Positioning in Asia

Global funds stay structurally underweight Asia, with Japan and China leading the way. Taiwan Tech dominates sector overweights, while TSMC tops...

Steven Holden

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (29 Sep)

Ten pair trade opportunities across four markets and four sectors, based on quantitative methodology. Offering unique insights into relative value.

Gaudenz Schneider

Asia/Pacific Stocks Outlook For the Week Sep 29-Oct 3

​Multi-week forecasts for Asian indices and stocks show Samsung Electronics, Softbank Group, Toyota Motor, and Nikkei 225 as overbought, while...

Nico Rosti

Statistical methodology identifies nine pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Multi-week forecasts for Asian indices and stocks show Samsung Electronics, Softbank Group, Toyota Motor, and Nikkei 225 as overbought, while...