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) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Key Results This Week: Delta, Elan, ChipMOS, Nuvoton, AU Optronics in Taiwan... Plus Samsung, AMD, and Qualcomm.</li>
<li>Positive signs for the PC &amp; mobile space have come from recent Intel, UMC, Mediatek results.</li>
<li>Top Losers: Macronix Slumps on Weak Results and Outlook, Hon Hai Slumps on China Tax &amp; Land Probe</li>
</ul>


Key Results This Week: Delta, Elan, ChipMOS, Nuvoton, AU Optronics in Taiwan... Plus Samsung, AMD, and Qualcomm.
Positive signs for the PC &amp; mobile space have come from recent Intel, UMC, Mediatek results.
Top Losers: Macronix Slumps on Weak Results and Outlook, Hon Hai Slumps on China Tax &amp; Land Probe


Taiwan Tech Weekly: Wave of Key Taiwan Results; Heavyweights Samsung, AMD, Qualcomm Internationally

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

DZT Research

DZT 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 foreign holdings of TWSE Stocks as of Oct 6th which has an aggregated holding worth USD621.8bn.</li>
<li>We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.</li>
<li>We estimate that foreign flows to be outflows of USD449mln. We highlight foreign changes in Fubon Financial, TSMC.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Oct 6th which has an aggregated holding worth USD621.8bn.
We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.
We estimate that foreign flows to be outflows of USD449mln. We highlight foreign changes in Fubon Financial, TSMC.


TWSE Foreign Holding Weekly (Oct 6th): Fubon Financial, TSMC

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Oct 6th which has an aggregated short interest worth USD14.2bn.</li>
<li>We tabulate league table 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 Quanta Computer, Delta Elec, Kinik, Polaris, Accton Tech.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Oct 6th which has an aggregated short interest worth USD14.2bn.
We tabulate league table 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 Quanta Computer, Delta Elec, Kinik, Polaris, Accton Tech.


TWSE Short Interest Weekly (Oct 6th): Quanta Computer, Delta Elec, Kinik, Polaris, Accton Tech

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Sep 8th which has an aggregated short interest worth USD13.3bn.</li>
<li>We tabulate league table 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 Realtek Semi, Faraday Tech, Auo, Asustek Computer, Mediatek, Lite-On Tech, Elite Material.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Sep 8th which has an aggregated short interest worth USD13.3bn.
We tabulate league table 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 Realtek Semi, Faraday Tech, Auo, Asustek Computer, Mediatek, Lite-On Tech, Elite Material.


TWSE Short Interest Weekly (Sep 8th): Realtek Semi, Faraday Tech, Auo, Asustek Computer, Mediatek

TSMC (Taiwan Semiconductor Manufacturing) (TSM US)

<ul>
<li>Japan's semiconductor technology export restrictions took effect on Sunday and are unlikely to ease for China any time soon.</li>
<li>Apple is reportedly telling suppliers that its flagship iPhone volumes will be similar to last year.</li>
<li>Hon Hai acquires 50% stake in German auto chassis maker, marking a significant expansion in its EV manufacturing efforts.</li>
</ul>


Japan's semiconductor technology export restrictions took effect on Sunday and are unlikely to ease for China any time soon.
Apple is reportedly telling suppliers that its flagship iPhone volumes will be similar to last year.
Hon Hai acquires 50% stake in German auto chassis maker, marking a significant expansion in its EV manufacturing efforts.


Taiwan Tech Weekly: Japan Semi Restrictions Take Effect; Apple IPhone Volumes; Hon Hai Acquisition

Taiwan

AU Optronics Corp. manufactures and markets thin film transistor-liquid crystal displays (TFT-LCDs) and plasma display panels (PDPs).  The Company sells its products in Taiwan and exports worldwide.

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AU Optronics (2409 TT)

Taiwan Tech Weekly: Wave of Key Taiwan Results; Heavyweights Samsung, AMD, Qualcomm Internationally

This week's key results in Taiwan include Delta, Elan, ChipMOS, Nuvoton, and AU Optronics. Positive signs for the PC and mobile space have been...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Oct 6th): Fubon Financial, TSMC

We analyzed TWSE foreign holding data for the past week and highlight foreign holding changes in Fubon Financial, Taiwan Semiconductor...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Oct 6th): Quanta Computer, Delta Elec, Kinik, Polaris, Accton Tech

We analyzed TWSE short interest report for the past week and highlight short interest changes in Quanta Computer, Delta Elec, Kinik, Polaris,...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Sep 8th): Realtek Semi, Faraday Tech, Auo, Asustek Computer, Mediatek

We analyzed TWSE short interest report for the past week and highlight short interest changes in Realtek Semi, Faraday Tech, Auo, Asustek Computer,...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Japan Semi Restrictions Take Effect; Apple IPhone Volumes; Hon Hai Acquisition

Japan's semiconductor technology export restrictions took effect on Sunday and are unlikely to ease for China any time soon.

Vincent Fernando, CFA

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