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

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

<ul>
<li>TSMC: +23.5% Premium; Decent Level to Short Relative to Historical Trading Range</li>
<li>UMC: +0.1% Premium; Middle of the Historical Trading Range; Short Interest Rises Again</li>
<li>ASE: +3.5% Premium; Near Middle of Recent Range, Wait for Better Levels</li>
</ul>


TSMC: +23.5% Premium; Decent Level to Short Relative to Historical Trading Range
UMC: +0.1% Premium; Middle of the Historical Trading Range; Short Interest Rises Again
ASE: +3.5% Premium; Near Middle of Recent Range, Wait for Better Levels


Taiwan Dual-Listings Monitor: TSMC Spread At Decent Short Level; UMC Short Interest Rises Again

<ul>
<li>TSMC: +20.4% Premium; ADR Premium is Approaching a Short Level</li>
<li>UMC: +0.7% Premium; Short Interest Soars to New Two-Year Highs</li>
<li>ASE: +4.2% Premium; ADR Headroom Falls to 100% Maxed Out</li>
</ul>


TSMC: +20.4% Premium; ADR Premium is Approaching a Short Level
UMC: +0.7% Premium; Short Interest Soars to New Two-Year Highs
ASE: +4.2% Premium; ADR Headroom Falls to 100% Maxed Out


Taiwan Dual-Listings Monitor: TSMC Spread Approaching Short Level; UMC Short Interest Soars Higher

<ul>
<li>TSMC: +19.2% Premium; Middle of Most Recent ADR Spread Trading Range</li>
<li>UMC: -1.7% Discount; Local Shares' Short Interest Continues to Rise</li>
<li>ASE: +4.0% Premium; Local Shares' Short Interest Has Finally Stopped Rising</li>
</ul>


TSMC: +19.2% Premium; Middle of Most Recent ADR Spread Trading Range
UMC: -1.7% Discount; Local Shares' Short Interest Continues to Rise
ASE: +4.0% Premium; Local Shares' Short Interest Has Finally Stopped Rising


Taiwan Dual-Listings Monitor: TSMC Spread Maintains Elevated Range; UMC Short Interest Rises Higher

<ul>
<li>TSMC: +16.7% Premium; Further Market Weakness Could Soon Open Up Good Long Level</li>
<li>UMC: -2.1% Discount; Good Level to Go Long the ADR Spread</li>
<li>ASE: -0.1% Discount; Premium Completely Broken Down &amp; Local Short Interest Continues to Surge</li>
</ul>


TSMC: +16.7% Premium; Further Market Weakness Could Soon Open Up Good Long Level
UMC: -2.1% Discount; Good Level to Go Long the ADR Spread
ASE: -0.1% Discount; Premium Completely Broken Down &amp; Local Short Interest Continues to Surge


Taiwan Dual-Listings Monitor: Weakness Could Open TSMC Long Level; ASE Short Interest Keeps Surging

<ul>
<li>TSMC: +18.6% Premium; Near the Middle of Most Recent Trading Range</li>
<li>UMC: -1.4% Discount; Short Interest in Local Shares Continues to Surge</li>
<li>ASE: +2.0% Premium; Another Example of Surging Short Interest in Local Shares</li>
</ul>


TSMC: +18.6% Premium; Near the Middle of Most Recent Trading Range
UMC: -1.4% Discount; Short Interest in Local Shares Continues to Surge
ASE: +2.0% Premium; Another Example of Surging Short Interest in Local Shares


Taiwan Dual-Listings Monitor: Surging Short Interest in Local Shares of UMC and ASE

Taiwan

ChipMOS TECHNOLOGIES INC. offers semiconductor testing and packaging solutions to companies, integrated device manufacturers, and foundries. The Company provides a broad range of back-end testing services for high density memory, mixed-signal and liquid crystal display.

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Chipmos Technologies (8150 TT)

Taiwan Dual-Listings Monitor: TSMC Spread At Decent Short Level; UMC Short Interest Rises Again

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

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC Spread Approaching Short Level; UMC Short Interest Soars Higher

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

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: TSMC Spread Maintains Elevated Range; UMC Short Interest Rises Higher

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

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: Weakness Could Open TSMC Long Level; ASE Short Interest Keeps Surging

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

Vincent Fernando, CFA

Taiwan Dual-Listings Monitor: Surging Short Interest in Local Shares of UMC and ASE

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

Vincent Fernando, CFA

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52-week Range

Market Cap (USDm)

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