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

Equity Bottom-Up

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

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>TSMC: +25.6% Premium: Latest Spike is Opportunity to Short the ADR Spread</li>
<li>UMC: +2.0% Premium; Near Level to Go Short the ADR Spread</li>
<li>ASE: +5.1% Premium; Good Level to Take Profits on Previous Long Since Parity</li>
</ul>


TSMC: +25.6% Premium: Latest Spike is Opportunity to Short the ADR Spread
UMC: +2.0% Premium; Near Level to Go Short the ADR Spread
ASE: +5.1% Premium; Good Level to Take Profits on Previous Long Since Parity


Taiwan Dual-Listings Monitor: TSMC Premium Spike Opportunity; ASE Hard Bounce to Prem from Discount

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 15th. The aggregated holding was USD1,198.8bn.</li>
<li>We estimate that foreign flows to be inflows of USD374mln. 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 Hon Hai Precision, Quanta Computer, TSMC, Wistron, Zhen Ding Technology, Hon Hai Precision, Zhen Ding Technology, Quanta Computer, TSMC, Wistron.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 15th. The aggregated holding was USD1,198.8bn.
We estimate that foreign flows to be inflows of USD374mln. 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 Hon Hai Precision, Quanta Computer, TSMC, Wistron, Zhen Ding Technology, Hon Hai Precision, Zhen Ding Technology, Quanta Computer, TSMC, Wistron.


TWSE Foreign Holding Weekly (Aug 15th): Hon Hai Precision, Quanta Computer, TSMC, Wistron

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Aug 22nd. The aggregated short interest was USD25.0bn.</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 King Yuan Electronics, Alchip Technologies, Hon Hai Precision, HTC, Wiwynn, King Yuan Electronics, Alchip Technologies, Hon Hai Precision, HTC, Wiwynn.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Aug 22nd. The aggregated short interest was USD25.0bn.
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 King Yuan Electronics, Alchip Technologies, Hon Hai Precision, HTC, Wiwynn, King Yuan Electronics, Alchip Technologies, Hon Hai Precision, HTC, Wiwynn.


TWSE Short Interest Weekly (Aug 22nd): King Yuan Electronics, Alchip Technologies, Hon Hai Precision

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 15th. The aggregated holding was USD1,197.2bn.</li>
<li>We estimate that foreign flows to be inflows of USD373mln. 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 Hon Hai Precision, Quanta Computer, TSMC, Wistron, Zhen Ding Technology, Hon Hai Precision, Zhen Ding Technology, Quanta Computer, TSMC, Wistron.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 15th. The aggregated holding was USD1,197.2bn.
We estimate that foreign flows to be inflows of USD373mln. 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 Hon Hai Precision, Quanta Computer, TSMC, Wistron, Zhen Ding Technology, Hon Hai Precision, Zhen Ding Technology, Quanta Computer, TSMC, Wistron.


<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Aug 15th. The aggregated short interest was USD26.0bn.</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 Taishin Financial, Lite-On Technology, Taiwan Glass Ind, Zhen Ding Technology, Mega Financial, Taishin Financial, Lite-On Technology, Taiwan Glass Ind, Zhen Ding Technology.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Aug 15th. The aggregated short interest was USD26.0bn.
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 Taishin Financial, Lite-On Technology, Taiwan Glass Ind, Zhen Ding Technology, Mega Financial, Taishin Financial, Lite-On Technology, Taiwan Glass Ind, Zhen Ding Technology.


TWSE Short Interest Weekly (Aug 15th): Taishin Financial, Lite-On Technology, Taiwan Glass Ind

Taiwan

ASE Technology Holding Co., Ltd. offers assembly and testing services. The Company provides outsourced assembly, semiconductor testing, semiconductor packaging, and other related services. ASE Technology Holding operates in Taiwan.

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ASE Technology Holding (3711 TT)

Taiwan Dual-Listings Monitor: TSMC Premium Spike Opportunity; ASE Hard Bounce to Prem from Discount

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Aug 15th): Hon Hai Precision, Quanta Computer, TSMC, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai Precision (2317 TT), Quanta Computer...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Aug 22nd): King Yuan Electronics, Alchip Technologies, Hon Hai Precision

We analyzed TWSE short interest report for the past week and highlighted short interest changes in King Yuan Electronics (2449 TT), Alchip...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Aug 15th): Hon Hai Precision, Quanta Computer, TSMC, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai Precision (2317 TT), Quanta Computer...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Aug 15th): Taishin Financial, Lite-On Technology, Taiwan Glass Ind

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Taishin Financial (2887 TT), Lite-On Technology...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)