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 Sep 4th (reported today). The aggregated short interest was USD51.0bn.</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 CAR, Cochlear, Predictive Discovery, Sonic Healthcare, Qantas Airways.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Sep 4th (reported today). The aggregated short interest was USD51.0bn.
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 CAR, Cochlear, Predictive Discovery, Sonic Healthcare, Qantas Airways.


ASX Short Interest Weekly (Sep 4th): CAR, Cochlear, Predictive Discovery, Sonic Healthcare

New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Equity Bottom-Up

<ul>
<li>We believe Spark NZ (SPK) needs to present a clearer plan for its balance sheet at its upcoming FY26 result.</li>
<li>Given our subdued EBITDAI growth outlook and limited free cash flow retention, we struggle to see SPK deleveraging organically.</li>
<li>Asset sales, notably a sale of its Digital Services segment, are one option SPK appears to be considering; while this could provide balance sheet headroom, we do not believe it would unlock capital returns on its own given SPK has meaningful (&gt;NZ$300m) spectrum renewals to fund over the next decade.</li>
</ul>


We believe Spark NZ (SPK) needs to present a clearer plan for its balance sheet at its upcoming FY26 result.
Given our subdued EBITDAI growth outlook and limited free cash flow retention, we struggle to see SPK deleveraging organically.
Asset sales, notably a sale of its Digital Services segment, are one option SPK appears to be considering; while this could provide balance sheet headroom, we do not believe it would unlock capital returns on its own given SPK has meaningful (&gt;NZ$300m) spectrum renewals to fund over the next decade.


<ul><li>Spark NZ (SPK) has announced price increases across its post-paid mobile and broadband (fibre and copper) plans, effective 31 July 2026.</li><li>SPK has indicated it will raise post-paid mobile prices by mid-single digits from 31 July 2026.</li><li>SPK has also increased fibre prices by ~+4–5% and copper prices by ~+8%, effective 31 July 2026.</li></ul>

Spark NZ (SPK) has announced price increases across its post-paid mobile and broadband (fibre and copper) plans, effective 31 July 2026.SPK has indicated it will raise post-paid mobile prices by mid-single digits from 31 July 2026.SPK has also increased fibre prices by ~+4–5% and copper prices by ~+8%, effective 31 July 2026.

Spark NZ (SPK): Post-Paid Mobile And Fibre Price Increases

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.

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Mar 20th (reported today). The aggregated short interest was USD36.7bn.</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 Evolution Mining, 4Dmedical Ltd, Sigma Pharmaceuticals, Insurance Australia, Coles.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Mar 20th (reported today). The aggregated short interest was USD36.7bn.
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 Evolution Mining, 4Dmedical Ltd, Sigma Pharmaceuticals, Insurance Australia, Coles.


ASX Short Interest Weekly (Mar 20th): Evolution Mining, 4Dmedical Ltd, Sigma Pharmaceuticals

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Mar 13th (reported today). The aggregated short interest was USD37.9bn.</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 Insurance Australia, CSL, Transurban, James Hardie Industries, Evolution Mining.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Mar 13th (reported today). The aggregated short interest was USD37.9bn.
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 Insurance Australia, CSL, Transurban, James Hardie Industries, Evolution Mining.


ASX Short Interest Weekly (Mar 13th): Insurance Australia, CSL, Transurban, James Hardie Industries

Australia

Chorus Limited is a wholesale and retail telecommunications company. The Company maintains and build the Chorus local access network which is made up of local telephone exchanges, cabinets and copper and fiber cables that connects New Zealand homes and businesses throughout the country.

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Chorus (CNU AU)

ASX Short Interest Weekly (Sep 4th): CAR, Cochlear, Predictive Discovery, Sonic Healthcare

We analyzed ASX short interest report for the past week and highlight short interest changes in CAR, Cochlear, Predictive Discovery, Sonic...

Ke Yan, CFA, FRM

Spark NZ Disconnected From Its Rating

We believe Spark NZ (SPK) needs to present a clearer plan for its balance sheet at its upcoming FY26 result. Given our subdued EBITDAI growth...

Forsyth Barr

Spark NZ (SPK): Post-Paid Mobile And Fibre Price Increases

Spark NZ (SPK) has announced price increases across its post-paid mobile and broadband (fibre and copper) plans, effective 31 July 2026. SPK has...

Forsyth Barr

ASX Short Interest Weekly (Mar 20th): Evolution Mining, 4Dmedical Ltd, Sigma Pharmaceuticals

We analyzed ASX short interest report for the past week and highlight short interest changes in Evolution Mining, 4Dmedical Ltd, Sigma...

Ke Yan, CFA, FRM

ASX Short Interest Weekly (Mar 13th): Insurance Australia, CSL, Transurban, James Hardie Industries

We analyzed ASX short interest report for the past week and highlight short interest changes in Insurance Australia, CSL, Transurban, James Hardie...

Ke Yan, CFA, FRM

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