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 Apr 25th which has an aggregated holding worth USD845.1bn.</li>
<li>We estimate that foreign flows to be inflows of USD721mln. 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).</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 25th which has an aggregated holding worth USD845.1bn.
We estimate that foreign flows to be inflows of USD721mln. 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).


TWSE Foreign Holding Weekly (Apr 25th): TSMC

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 18th which has an aggregated holding worth USD815.1bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,916mln. 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 SCSB, TSMC, Evergreen Marine, Quanta Computer, Hon Hai Precision.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 18th which has an aggregated holding worth USD815.1bn.
We estimate that foreign flows to be outflows of USD2,916mln. 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 SCSB, TSMC, Evergreen Marine, Quanta Computer, Hon Hai Precision.


TWSE Foreign Holding Weekly (Apr 18th): SCSB, TSMC, Evergreen Marine, Quanta Computer

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) (TSM US)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>TSMC: 16.5% Premium; Short Interest Remains Near Historical Highs for ADR and Local</li>
<li>ASE: +2.2% Premium; Wait for Closer to Par Before Going Long; Short Interest in Local Shares at Highs</li>
<li>ChipMOS: +1.1% Premium; Short Interest in Local Shares Hits New Highs</li>
</ul>


TSMC: 16.5% Premium; Short Interest Remains Near Historical Highs for ADR and Local
ASE: +2.2% Premium; Wait for Closer to Par Before Going Long; Short Interest in Local Shares at Highs
ChipMOS: +1.1% Premium; Short Interest in Local Shares Hits New Highs


Taiwan Dual-Listings Monitor: TSMC Premium at Mid-Range; Short Interest Highs for ASE & IMOS

<ul>
<li>TSMC: +21.5% Premium; Consider Shorting the Spread at This Level</li>
<li>ChipMOS: +3.2% Premium; Good Level to Consider Shorting the Spread: Local Shares' Short Interest at Multi-Year Highs</li>
<li>CHT: +1.3% Premium; Good Level to Consider Shorting the Spread; ADR Short Interest at Multi-Year Highs</li>
</ul>


TSMC: +21.5% Premium; Consider Shorting the Spread at This Level
ChipMOS: +3.2% Premium; Good Level to Consider Shorting the Spread: Local Shares' Short Interest at Multi-Year Highs
CHT: +1.3% Premium; Good Level to Consider Shorting the Spread; ADR Short Interest at Multi-Year Highs


Taiwan Dual-Listings Monitor: TSMC Premium at High-End; ChipMOS & CHT Multi-Year High Short Interest

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Apr 11th which has an aggregated short interest worth USD18.8bn.</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 Mediatek, United Integrated Services.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Apr 11th which has an aggregated short interest worth USD18.8bn.
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 Mediatek, United Integrated Services.


TWSE Short Interest Weekly (Apr 11th): Mediatek, United Integrated Services

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

TWSE Foreign Holding Weekly (Apr 25th): TSMC

We analyzed TWSE foreign holding data for the past week. We estimate that weekly foreign flows to be inflows of USD721m and highlighted foreign...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Apr 18th): SCSB, TSMC, Evergreen Marine, Quanta Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in SCSB, TSMC, Evergreen Marine, Quanta Computer,...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC Premium at Mid-Range; Short Interest Highs for ASE & IMOS

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 Premium at High-End; ChipMOS & CHT Multi-Year High Short Interest

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 Short Interest Weekly (Apr 11th): Mediatek, United Integrated Services

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Mediatek, United Integrated Services.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)