Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Independent, Fundamental Quantitative Research

Propitious Research

Fully independent, fundamental and quantitative equity research, focused on companies in the Telecommunication, Media, Technology, Internet and Healthcare sectors in the Global Emerging Markets. Idea generation focused on Quality stocks, trading below their intrinsic Value, with sound Corporate Governance.

Quantitative Analysis

<ul>
<li>During 3Q2024, the 200 largest weighted companies in the GEM index reported average EPS growth of +14.3%y/y, accelerating from the +7.1% reported during 2Q2024.</li>
<li>Overall, 59% of companies delivered positive EPS surprises, and 63% delivered positive Sales surprises, a continuation of the positive trend witnessed in the previous quarter.</li>
<li>Historically, there has been a significant difference in relative share price performance between the largest positive versus negative surprise generators, for 3 months after the reporting date.</li>
</ul>


During 3Q2024, the 200 largest weighted companies in the GEM index reported average EPS growth of +14.3%y/y, accelerating from the +7.1% reported during 2Q2024.
Overall, 59% of companies delivered positive EPS surprises, and 63% delivered positive Sales surprises, a continuation of the positive trend witnessed in the previous quarter.
Historically, there has been a significant difference in relative share price performance between the largest positive versus negative surprise generators, for 3 months after the reporting date.


Global Emerging Markets: Reporting Season Summary, 3Q2024

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.

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Sep 27th which has an aggregated holding worth USD1,017.5bn.</li>
<li>We estimate that foreign flows to be inflows of USD3,224mln. 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 changes of foreign holdings in TSMC, Evergreen Marine Corp Taiwan, Hon Hai Precision Industry, Wan Hai Lines, Jinan Acetate Chemical, Asmedia Technology, Ase Industrial.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Sep 27th which has an aggregated holding worth USD1,017.5bn.
We estimate that foreign flows to be inflows of USD3,224mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Evergreen Marine Corp Taiwan, Hon Hai Precision Industry, Wan Hai Lines, Jinan Acetate Chemical, Asmedia Technology, Ase Industrial.


TWSE Foreign Holding Weekly (Sep 27th): TSMC, Evergreen Marine Corp Taiwan

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Sep 6th which has an aggregated short interest worth USD19.8bn.</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 TSMC, Cathay Financial, Visual Photonics Epitaxy, Innolux, Formosa Petrochemical, Ctbc Financial, Shin Kong Financial, Alchip Technologies.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Sep 6th which has an aggregated short interest worth USD19.8bn.
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 TSMC, Cathay Financial, Visual Photonics Epitaxy, Innolux, Formosa Petrochemical, Ctbc Financial, Shin Kong Financial, Alchip Technologies.


TWSE Short Interest Weekly (Sep 6th): TSMC, Cathay Financial, Visual Photonics Epitaxy, Innolux

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 2nd which has an aggregated holding worth USD902.6bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,923mln. 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 Umc, TSMC, Hon Hai, Mediatek, Quanta Computer, Unimicron Tech.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 2nd which has an aggregated holding worth USD902.6bn.
We estimate that foreign flows to be outflows of USD2,923mln. 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 Umc, TSMC, Hon Hai, Mediatek, Quanta Computer, Unimicron Tech.


TWSE Foreign Holding Weekly (Aug 2nd): Umc, TSMC, Hon Hai, Mediatek, Quanta Computer, Unimicron Tech

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 26th which has an aggregated holding worth USD924.5bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,653mln. 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 Gigabyte Tech, TSMC, Quanta Computer, ASE, Mediatek.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 26th which has an aggregated holding worth USD924.5bn.
We estimate that foreign flows to be outflows of USD1,653mln. 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 Gigabyte Tech, TSMC, Quanta Computer, ASE, Mediatek.


TWSE Foreign Holding Weekly (Jul 26th): Gigabyte Tech, TSMC, Quanta Computer, ASE, Mediatek

Taiwan

Cathay Financial Holding Co., Ltd. is a holding company.  Through its subsidiaries, the Company provides traditional life, health care, and accident insurances, as well as banking, security underwriting, and brokerage services.

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Cathay Financial Holding Co (2882 TT)

Global Emerging Markets: Reporting Season Summary, 3Q2024

In this quarterly insight, we analyse recent GEM reporting trends by looking at Sales and EPS growth, size and percentage of positive surprises,...

Wium Malan, CFA

TWSE Foreign Holding Weekly (Sep 27th): TSMC, Evergreen Marine Corp Taiwan

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Evergreen Marine Corp Taiwan, Hon Hai...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Sep 6th): TSMC, Cathay Financial, Visual Photonics Epitaxy, Innolux

We analyzed TWSE short interest report for the past week and highlighted short interest changes in TSMC, Cathay Financial, Visual Photonics...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Aug 2nd): Umc, TSMC, Hon Hai, Mediatek, Quanta Computer, Unimicron Tech

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Umc, TSMC, Hon Hai, Mediatek, Quanta Computer,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Jul 26th): Gigabyte Tech, TSMC, Quanta Computer, ASE, Mediatek

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Gigabyte Tech, TSMC, Quanta Computer, ASE,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)