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 May 10th which has an aggregated holding worth USD4,060.0bn.</li>
<li>We estimate that foreign flows to be inflows of USD2,948mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in TSMC, Quanta Computer, Yang Ming Marine, Tripod Tech, Lite-On Tech, Chailease, Lotus, Novatek, Alchip Tech, Asia Vital.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of May 10th which has an aggregated holding worth USD4,060.0bn.
We estimate that foreign flows to be inflows of USD2,948mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in TSMC, Quanta Computer, Yang Ming Marine, Tripod Tech, Lite-On Tech, Chailease, Lotus, Novatek, Alchip Tech, Asia Vital.


TWSE Foreign Holding Weekly (May 10th): TSMC, Quanta Computer, Yang Ming Marine, Tripod Tech

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: Premium Fell and Then Rebounded, Now +15.6%; Can Consider Shorting Again</li>
<li>ASE: Falls to +12.3%; Wait for Higher Level Before Considering a New Short Again</li>
<li>ChipMOS: -0.6% Discount; Massing of Short Interest Right Ahead of Earnings</li>
</ul>


TSMC: Premium Fell and Then Rebounded, Now +15.6%; Can Consider Shorting Again
ASE: Falls to +12.3%; Wait for Higher Level Before Considering a New Short Again
ChipMOS: -0.6% Discount; Massing of Short Interest Right Ahead of Earnings


Taiwan Dual-Listings: TSMC Spread Slumps Then Fully Rebounds; Shorts Spiking Ahead of IMOS Results

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of May 3rd which has an aggregated holding worth USD3,897.7bn.</li>
<li>We estimate that foreign flows to be inflows of USD3,975mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in TSMC, Hon Hai, Delta Elec, Yageo, Quanta Computer, Alchip Tech, King Yuan Elec, Wt, Accton Tech, Powertech.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of May 3rd which has an aggregated holding worth USD3,897.7bn.
We estimate that foreign flows to be inflows of USD3,975mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in TSMC, Hon Hai, Delta Elec, Yageo, Quanta Computer, Alchip Tech, King Yuan Elec, Wt, Accton Tech, Powertech.


TWSE Foreign Holding Weekly (May 3rd): TSMC, Hon Hai, Delta Elec, Yageo, Quanta Computer, Alchip

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 26th which has an aggregated holding worth USD3,910.9bn.</li>
<li>We estimate that foreign flows to be inflows of USD3,975mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in TSMC, Quanta Computer, Evergreen Marine, Eva Airways, Hon Hai, Umc, ASE, Wistron, Asustek Computer, Chunghwa Telecom.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 26th which has an aggregated holding worth USD3,910.9bn.
We estimate that foreign flows to be inflows of USD3,975mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in TSMC, Quanta Computer, Evergreen Marine, Eva Airways, Hon Hai, Umc, ASE, Wistron, Asustek Computer, Chunghwa Telecom.


TWSE Foreign Holding Weekly (Apr 26th): TSMC, Quanta Computer, Evergreen Marine, Eva Airways

<ul>
<li>TSMC: Premium Soars to +15.2%, Good Level to Consider Shorting the Spread</li>
<li>UMC: Spread Bounces from Lows to Relatively Extreme High of +1.9%; Good Level to Short</li>
<li>ASE: Spread Soars to Near All-Time High of +15.5%; Consider Shorting the Spread</li>
</ul>


TSMC: Premium Soars to +15.2%, Good Level to Consider Shorting the Spread
UMC: Spread Bounces from Lows to Relatively Extreme High of +1.9%; Good Level to Short
ASE: Spread Soars to Near All-Time High of +15.5%; Consider Shorting the Spread


Taiwan Dual-Listings Monitor: TSMC & ASE Spreads Surge to Extremes; CHT Shorts Massing Pre-Earnings

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)

TWSE Foreign Holding Weekly (May 10th): TSMC, Quanta Computer, Yang Ming Marine, Tripod Tech

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Quanta Computer, Yang Ming Marine, Tripod...

Ke Yan, CFA, FRM

Taiwan Dual-Listings: TSMC Spread Slumps Then Fully Rebounds; Shorts Spiking Ahead of IMOS Results

Potential trades to consider in TSMC and CHT. Notable surge in short interest right ahead of IMOS earnings today; with the shorts be proven right?

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (May 3rd): TSMC, Hon Hai, Delta Elec, Yageo, Quanta Computer, Alchip

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Hon Hai, Delta Elec, Yageo, Quanta...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Apr 26th): TSMC, Quanta Computer, Evergreen Marine, Eva Airways

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Quanta Computer, Evergreen Marine, Eva...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC & ASE Spreads Surge to Extremes; CHT Shorts Massing Pre-Earnings

ADR spreads have surged to historically extreme levels for TSMC, ASE, and UMC. For CHT, we note a surge in short interest for its Taiwan shares...

Vincent Fernando, CFA

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