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 ASX Stocks as of Jul 17th (reported today). The aggregated short interest was USD45.5bn.</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 Genesis Minerals, CSL, Aristocrat Leisure, ASX, Atlas Arteria.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Jul 17th (reported today). The aggregated short interest was USD45.5bn.
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 Genesis Minerals, CSL, Aristocrat Leisure, ASX, Atlas Arteria.


ASX Short Interest Weekly (Jul 17th): Genesis Minerals, CSL, Aristocrat Leisure, ASX, Atlas Arteria

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) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>TSMC: +12.0% Premium; Below -1 SD Band; Long the ADR Spread</li>
<li>ASE: +0.0% Premium (ADR at Parity); Long the ADR Spread</li>
<li>CHT: -1.3% Discount; Below -1 SD Band; Long the ADR Spread</li>
</ul>


TSMC: +12.0% Premium; Below -1 SD Band; Long the ADR Spread
ASE: +0.0% Premium (ADR at Parity); Long the ADR Spread
CHT: -1.3% Discount; Below -1 SD Band; Long the ADR Spread


Taiwan Dual-Listings Monitor: Multiple ADR Spreads Due for a Bounce

Alpha-Centric ESG Research

Kyle Rudden

Whether we call this a SPAC bubble that has burst or a SPAC bull-run "correcting" itself, one thing is clear – the global SPAC market is cooling off. Cooling off... but not dead. SPACs are likely to play a much larger role in global equity markets than they have historically, and Asia is poised to play a larger role within that larger global equity markets role. We are already seeing evidence of this.Specifically, the recent increase in SPAC-related interest and activity in Asia by: 1) SPAC sponsors (growing number of Asia-based sponsors and foreign SPACs seeking Asia-based targets), 2) Asia's unicorns (several have announced huge SPAC deals), and 3) Asia's financial exchanges (which are increasingly enabling local SPAC listings, such as Singapore Exchange's new framework).It is still too soon to call anything an Asia SPAC "boom," but the growth is tangible and immediate enough for optimism. It motivated me to finally write about a topic I have been meaning to cover – i.e., ESG issues related to the SPAC vehicle itself, as well as to how SPACs are applied in supporting sustainability-related tech startups (e.g., electric vehicles, batteries/storage, clean energy).

Whether we call this a SPAC bubble that has burst or a SPAC bull-run "correcting" itself, one thing is clear – the global SPAC market is cooling off. Cooling off... but not dead. SPACs are likely to play a much larger role in global equity markets than they have historically, and Asia is poised to play a larger role within that larger global equity markets role. We are already seeing evidence of this.Specifically, the recent increase in SPAC-related interest and activity in Asia by: 1) SPAC sponsors (growing number of Asia-based sponsors and foreign SPACs seeking Asia-based targets), 2) Asia's unicorns (several have announced huge SPAC deals), and 3) Asia's financial exchanges (which are increasingly enabling local SPAC listings, such as Singapore Exchange's new framework).It is still too soon to call anything an Asia SPAC "boom," but the growth is tangible and immediate enough for optimism. It motivated me to finally write about a topic I have been meaning to cover – i.e., ESG issues related to the SPAC vehicle itself, as well as to how SPACs are applied in supporting sustainability-related tech startups (e.g., electric vehicles, batteries/storage, clean energy).

SPACs and ESG: Issues Related to the SPAC Vehicle Itself and Sustainability Use Cases

In <a href="https://www.smartkarma.com/insights/asia-exchanges-lead-in-esg-hkex-jpx-sgx" target="_blank" data-smartkarma-citation="insights:34447" rel="noopener">Asia Exchanges Lead in ESG: HKEX, JPX, SGX</a>, I assessed and benchmarked the world's financial exchanges on their contributions to sustainable/ESG investing and finance, and general Corporate Social Responsibility performance. Much has transpired, so it is time for an update... of sorts."Of sorts," because this version focuses exclusively on listed Asian exchange stocks, employs a more robust assessment/benchmarking model, and incorporates additional (previously-unavailable) data points. In short, it is more targeted, substantive, and actionable. Less breadth, more depth.The first analysis was based more on aspirations than on accomplishments because few exchanges had accomplished anything at that point. This version reflects real-world progress, and the results are significantly more insightful. The "downside," however, is information-overload.Therefore, this Insight addresses methodology and overall results (scores, rankings), and I will dive deeper into specific subjects (e.g., ESG derivatives) and exchanges separately. The Asian exchanges herein are: <a href="https://www.smartkarma.com/entities/asx-ltd" target="_blank" data-smartkarma-citation="entities:552:1" rel="noopener">ASX Limited (ASX AU)</a>, <a href="https://www.smartkarma.com/entities/bombay-stock-exchange" target="_blank" data-smartkarma-citation="entities:23694:1" rel="noopener">BSE Limited (BSE IN)</a>, <a href="https://www.smartkarma.com/entities/bursa-malaysia-bhd" target="_blank" data-smartkarma-citation="entities:17112:1" rel="noopener">Bursa Malaysia (BURSA MK)</a>, <a href="https://www.smartkarma.com/entities/hong-kong-exchanges-clearing" target="_blank" data-smartkarma-citation="entities:490:1" rel="noopener">HKEX (388 HK)</a>, <a href="https://www.smartkarma.com/entities/japan-exchange-group-inc" target="_blank" data-smartkarma-citation="entities:11266:1" rel="noopener">Japan Exchange Group (8697 JP)</a>, <a href="https://www.smartkarma.com/entities/nzx-ltd" target="_blank" data-smartkarma-citation="entities:10696:1" rel="noopener">NZX Limited (NZX NZ)</a>, and <a href="https://www.smartkarma.com/entities/singapore-exchange-ltd" target="_blank" data-smartkarma-citation="entities:1047:1" rel="noopener">Singapore Exchange (SGX SP)</a>.

In Asia Exchanges Lead in ESG: HKEX, JPX, SGX, I assessed and benchmarked the world's financial exchanges on their contributions to sustainable/ESG investing and finance, and general Corporate Social Responsibility performance. Much has transpired, so it is time for an update... of sorts."Of sorts," because this version focuses exclusively on listed Asian exchange stocks, employs a more robust assessment/benchmarking model, and incorporates additional (previously-unavailable) data points. In short, it is more targeted, substantive, and actionable. Less breadth, more depth.The first analysis was based more on aspirations than on accomplishments because few exchanges had accomplished anything at that point. This version reflects real-world progress, and the results are significantly more insightful. The "downside," however, is information-overload.Therefore, this Insight addresses methodology and overall results (scores, rankings), and I will dive deeper into specific subjects (e.g., ESG derivatives) and exchanges separately. The Asian exchanges herein are: ASX Limited (ASX AU), BSE Limited (BSE IN), Bursa Malaysia (BURSA MK), HKEX (388 HK), Japan Exchange Group (8697 JP), NZX Limited (NZX NZ), and Singapore Exchange (SGX SP).

Sustainable Stock Exchanges: SGX, HKEX Are Shaping the Future of Sustainable/ESG Investing in Asia

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 22nd June, published on the 26th June.</li>
<li>The largest industry net increase in the past week was A$0.4bn into "Steel"; the largest industry net decrease was A$1.9bn out of "Diversified Metals". Net shorts declined A$1.3bn week-on-week.</li>
<li>Companies mentioned in this regular weekly report include: <a href="https://www.smartkarma.com/entities/csl-ltd" target="_blank" data-smartkarma-citation="entities:917:1" rel="noopener">CSL (CSL AU)</a>, <a href="https://www.smartkarma.com/entities/cochlear-ltd" target="_blank" data-smartkarma-citation="entities:918:1" rel="noopener">Cochlear (COH AU)</a>, <a href="https://www.smartkarma.com/entities/aristocrat-leisure-ltd" target="_blank" data-smartkarma-citation="entities:10303:1" rel="noopener">Aristocrat Leisure (ALL AU)</a>, <a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">BHP (BHP AU)</a>,<a href="https://www.smartkarma.com/entities/rio-tinto-ltd" target="_blank" data-smartkarma-citation="entities:13:1" rel="noopener">Rio (RIO AU)</a>, and <a href="https://www.smartkarma.com/entities/guzman-y-gomez-limited" target="_blank" data-smartkarma-citation="entities:43656:1" rel="noopener">Guzman Y Gomez (GYG AU)</a>.</li>
</ul>


Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 22nd June, published on the 26th June.
The largest industry net increase in the past week was A$0.4bn into "Steel"; the largest industry net decrease was A$1.9bn out of "Diversified Metals". Net shorts declined A$1.3bn week-on-week.
Companies mentioned in this regular weekly report include: CSL (CSL AU), Cochlear (COH AU), Aristocrat Leisure (ALL AU), BHP (BHP AU),Rio (RIO AU), and Guzman Y Gomez (GYG AU).


Aussie Shorts [22 June 2026]: CSL, Cochlear, Aristocrat Leisure, BHP, Rio, Guzman Y Gomez

Australia

ASX Ltd is a demutualized company which operates Australia's primary national stock exchange and equity derivatives market. The ASX operates markets for equities, derivatives, fixed-interest securities and capital-raising for unlisted companies using advanced computer systems for both trading and settlement.

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ASX Ltd (ASX AU)

ASX Short Interest Weekly (Jul 17th): Genesis Minerals, CSL, Aristocrat Leisure, ASX, Atlas Arteria

We analyzed ASX short interest report for the past week and highlight short interest changes in Genesis Minerals, CSL, Aristocrat Leisure, ASX,...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: Multiple ADR Spreads Due for a Bounce

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

Vincent Fernando, CFA

Sustainable Stock Exchanges: SGX, HKEX Are Shaping the Future of Sustainable/ESG Investing in Asia

Sustainability is imperative, capital is its cornerstone, and markets move capital. Exchanges, at that vital intersection, are agents of progress...

Kyle Rudden

Aussie Shorts [22 June 2026]: CSL, Cochlear, Aristocrat Leisure, BHP, Rio, Guzman Y Gomez

Companies mentioned in this regular weekly report include: CSL (CSL AU), Cochlear (COH AU), Aristocrat Leisure (ALL AU), BHP (BHP AU), Rio (RIO...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

ASX Short Interest Weekly (Jul 17th): Genesis Minerals, CSL, Aristocrat Leisure, ASX, Atlas Arteria

We analyzed ASX short interest report for the past week and highlight short interest changes in Genesis Minerals, CSL, Aristocrat Leisure, ASX,...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: Multiple ADR Spreads Due for a Bounce

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

Vincent Fernando, CFA

SPACs and ESG: Issues Related to the SPAC Vehicle Itself and Sustainability Use Cases

In Asia there is an undeniable upswell in SPAC activity – by SPAC sponsors, crown-jewel unicorns, and bourses like SGX. This covers ESG issues...

Kyle Rudden

Sustainable Stock Exchanges: SGX, HKEX Are Shaping the Future of Sustainable/ESG Investing in Asia

Sustainability is imperative, capital is its cornerstone, and markets move capital. Exchanges, at that vital intersection, are agents of progress...

Kyle Rudden

Aussie Shorts [22 June 2026]: CSL, Cochlear, Aristocrat Leisure, BHP, Rio, Guzman Y Gomez

Companies mentioned in this regular weekly report include: CSL (CSL AU), Cochlear (COH AU), Aristocrat Leisure (ALL AU), BHP (BHP AU), Rio (RIO...

David Blennerhassett