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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 11th which has an aggregated holding worth USD842.1bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,406mln. 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 Quanta Computer, TSMC, Ctbc Financial.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 11th which has an aggregated holding worth USD842.1bn.
We estimate that foreign flows to be outflows of USD1,406mln. 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 Quanta Computer, TSMC, Ctbc Financial.


TWSE Foreign Holding Weekly (Apr 11th): Quanta Computer, TSMC, Ctbc Financial

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) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>TSMC: +18.9% Premium; Soon at a Good Level to Short the Spread</li>
<li>ASE: +6.5% Premium; Good Level to Short the Spread Given Trading Range Breakdown</li>
<li>ChipMOS: +6.6% Premium; 2% And Higher Good Level to Short the Spread</li>
</ul>


TSMC: +18.9% Premium; Soon at a Good Level to Short the Spread
ASE: +6.5% Premium; Good Level to Short the Spread Given Trading Range Breakdown
ChipMOS: +6.6% Premium; 2% And Higher Good Level to Short the Spread


Taiwan Dual-Listings Monitor: TSMC Spread Near Short Level; ASE & ChipMOS Spreads Good Short Levels

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 4th which has an aggregated holding worth USD 888 bn. </li>
<li>We estimate that foreign flows to be outflows of USD1,173mln. 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 (2330 TT), Mediatek (2454 TT).</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 4th which has an aggregated holding worth USD 888 bn. 
We estimate that foreign flows to be outflows of USD1,173mln. 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 (2330 TT), Mediatek (2454 TT).


TWSE Foreign Holding Weekly (Apr 4th): TSMC, Mediatek

<ul>
<li>TSMC: +14.9% Premium; Spread Has Fallen Close to Long Levels</li>
<li>UMC: -2.6% Discount; Good Level to Go Long the Spread</li>
<li>ASE: -3.2% Discount; Spread at Extreme Low, Good Level to Go Long</li>
</ul>


TSMC: +14.9% Premium; Spread Has Fallen Close to Long Levels
UMC: -2.6% Discount; Good Level to Go Long the Spread
ASE: -3.2% Discount; Spread at Extreme Low, Good Level to Go Long


Taiwan Dual-Listings Monitor: TSMC Spread Close to Long Level; UMC & ASE Deep Discounts

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 21st which has an aggregated holding worth USD931.3bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,594mln. 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 Yang Ming Marine, Hon Hai Precision Industry, TSMC, Quanta Computer.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 21st which has an aggregated holding worth USD931.3bn.
We estimate that foreign flows to be outflows of USD1,594mln. 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 Yang Ming Marine, Hon Hai Precision Industry, TSMC, Quanta Computer.


TWSE Foreign Holding Weekly (Mar 21st): Yang Ming, Hon Hai Precision Industry, TSMC, Quanta Computer

Taiwan

Chunghwa Telecom Co., Ltd. provides local, domestic, and international long distance services. The Company also offers wireless telecommunication, paging, and Internet services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Chunghwa Telecom Co., Ltd (Adr) (CHT US)

TWSE Foreign Holding Weekly (Apr 11th): Quanta Computer, TSMC, Ctbc Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Quanta Computer, TSMC, Ctbc Financial.

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC Spread Near Short Level; ASE & ChipMOS Spreads Good Short Levels

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

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Apr 4th): TSMC, Mediatek

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Mediatek (2454 TT).

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC Spread Close to Long Level; UMC & ASE Deep Discounts

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

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Mar 21st): Yang Ming, Hon Hai Precision Industry, TSMC, Quanta Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Yang Ming Marine, Hon Hai Precision Industry,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)