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 Aug 29th. The aggregated holding was USD1,163.6bn.</li>
<li>We estimate that foreign flows to be inflows of USD428mln. We tabulate the league tables 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, Hon Hai Precision, Delta Electronics, Quanta Computer, Global Unichip, TSMC, Hon Hai Precision, Global Unichip, Delta Electronics, Quanta Computer.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 29th. The aggregated holding was USD1,163.6bn.
We estimate that foreign flows to be inflows of USD428mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Hon Hai Precision, Delta Electronics, Quanta Computer, Global Unichip, TSMC, Hon Hai Precision, Global Unichip, Delta Electronics, Quanta Computer.


TWSE Foreign Holding Weekly (Aug 29th): TSMC, Hon Hai Precision, Delta Electronics, 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: 26.2% Premium; Historically Extreme Level to Open Fresh Short of the Spread</li>
<li>UMC: +1.0% Premium: Wait for More Extreme Level Before Going Long or Short</li>
<li>ASE: +2.7% Premium; Open Fresh Longs of ADR Spread Closer to Parity</li>
</ul>


TSMC: 26.2% Premium; Historically Extreme Level to Open Fresh Short of the Spread
UMC: +1.0% Premium: Wait for More Extreme Level Before Going Long or Short
ASE: +2.7% Premium; Open Fresh Longs of ADR Spread Closer to Parity


Taiwan Dual-Listings Monitor: TSMC Premium at Historically Extreme Level; ASE Bounces Off Parity

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 29th. The aggregated holding was USD1,166.6bn.</li>
<li>We estimate that foreign flows to be inflows of USD427mln. We tabulate the league tables 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, Hon Hai Precision, Delta Electronics, Quanta Computer, Global Unichip, TSMC, Hon Hai Precision, Global Unichip, Delta Electronics, Quanta Computer.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 29th. The aggregated holding was USD1,166.6bn.
We estimate that foreign flows to be inflows of USD427mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Hon Hai Precision, Delta Electronics, Quanta Computer, Global Unichip, TSMC, Hon Hai Precision, Global Unichip, Delta Electronics, Quanta Computer.


<ul>
<li>TSMC: +21.8% Premium; Wait for Higher Premium Before Fresh Short of the Spread</li>
<li>UMC: -0.6% Discount; Wait for More Extreme ADR Spread Level</li>
<li>ASE: +0.4% Premium; Good Level to Go Long the ADR Spread</li>
</ul>


TSMC: +21.8% Premium; Wait for Higher Premium Before Fresh Short of the Spread
UMC: -0.6% Discount; Wait for More Extreme ADR Spread Level
ASE: +0.4% Premium; Good Level to Go Long the ADR Spread


Taiwan Dual-Listings Monitor: TSMC Premium Remains Elevated; ASE Drops Down to Near Parity

<ul>
<li>TSMC: +25.6% Premium: Latest Spike is Opportunity to Short the ADR Spread</li>
<li>UMC: +2.0% Premium; Near Level to Go Short the ADR Spread</li>
<li>ASE: +5.1% Premium; Good Level to Take Profits on Previous Long Since Parity</li>
</ul>


TSMC: +25.6% Premium: Latest Spike is Opportunity to Short the ADR Spread
UMC: +2.0% Premium; Near Level to Go Short the ADR Spread
ASE: +5.1% Premium; Good Level to Take Profits on Previous Long Since Parity


Taiwan Dual-Listings Monitor: TSMC Premium Spike Opportunity; ASE Hard Bounce to Prem from Discount

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 (2412 TT)

TWSE Foreign Holding Weekly (Aug 29th): TSMC, Hon Hai Precision, Delta Electronics, Quanta Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Hon Hai Precision (2317 TT),...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC Premium at Historically Extreme Level; ASE Bounces Off Parity

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 (Aug 29th): TSMC, Hon Hai Precision, Delta Electronics, Quanta Computer

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Hon Hai Precision (2317 TT),...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC Premium Remains Elevated; ASE Drops Down to Near Parity

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 Spike Opportunity; ASE Hard Bounce to Prem from Discount

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

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)