Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Thematic (Sector/Industry)

<ul>
<li>To an Australian individual investor, franking credits simply recognise tax already paid by a company on their earnings. These credits may reduce tax you would otherwise pay on dividend income.</li>
<li>This dividend imputation system prevents double taxation and essentially treats company tax paid as a prepayment of shareholder tax.</li>
<li>The system makes a lot of sense. It's a curious thing so few countries have adopted a similar corporate tax structure.</li>
</ul>


To an Australian individual investor, franking credits simply recognise tax already paid by a company on their earnings. These credits may reduce tax you would otherwise pay on dividend income.
This dividend imputation system prevents double taxation and essentially treats company tax paid as a prepayment of shareholder tax.
The system makes a lot of sense. It's a curious thing so few countries have adopted a similar corporate tax structure.


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 Aug 21st (reported today). The aggregated short interest was USD50.2bn.</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 JB Hi-Fi, CSL, Transurban, NEWMONT, Zip.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Aug 21st (reported today). The aggregated short interest was USD50.2bn.
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 JB Hi-Fi, CSL, Transurban, NEWMONT, Zip.


ASX Short Interest Weekly (Aug 21st): JB Hi-Fi, CSL, Transurban, NEWMONT, Zip

Event-Driven

<ul>
<li>Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 17th August, published on the 21st August.</li>
<li>The largest industry net increase in the past week was A$0.1bn into "Media/Services"; the largest industry net decrease was A$0.4bn out of "Banks". Net shorts declined A$0.7bn week-on-week.</li>
<li>Companies mentioned in this regular weekly report include: <a href="https://www.smartkarma.com/entities/pls-group-limited" target="_blank" data-smartkarma-citation="entities:7460:1" rel="noopener">PLS Group (PLS AU)</a>, <a href="https://www.smartkarma.com/entities/woodside-energy-group-ltd" target="_blank" data-smartkarma-citation="entities:13190:1" rel="noopener">Woodside Energy Group (WDS AU)</a>, <a href="https://www.smartkarma.com/entities/car-group-ltd" target="_blank" data-smartkarma-citation="entities:701:1" rel="noopener">CAR Group (CAR AU)</a>, <a href="https://www.smartkarma.com/entities/xero-ltd" target="_blank" data-smartkarma-citation="entities:390:1" rel="noopener">Xero Ltd (XRO AU)</a>, and <a href="https://www.smartkarma.com/entities/wisetech-global-ltd" target="_blank" data-smartkarma-citation="entities:22669:1" rel="noopener">Wisetech Global (WTC AU)</a>.</li>
</ul>


Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 17th August, published on the 21st August.
The largest industry net increase in the past week was A$0.1bn into "Media/Services"; the largest industry net decrease was A$0.4bn out of "Banks". Net shorts declined A$0.7bn week-on-week.
Companies mentioned in this regular weekly report include: PLS Group (PLS AU), Woodside Energy Group (WDS AU), CAR Group (CAR AU), Xero Ltd (XRO AU), and Wisetech Global (WTC AU).


Aussie Shorts [17 Aug 2026]: PLS Group, Woodside Energy, CAR Group, Xero, Wisetech Global

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Aug 14th (reported today). The aggregated short interest was USD49.4bn.</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 CSL, South32, Iress, Computershare, Coles.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Aug 14th (reported today). The aggregated short interest was USD49.4bn.
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 CSL, South32, Iress, Computershare, Coles.


ASX Short Interest Weekly (Aug 14th): CSL, South32, Iress, Computershare, Coles

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<ul>
<li>Australia Securities &amp; Investment Commission produces high-frequency data on insolvencies, which is valuable data for analyzing banks. There is pronounced deterioration in at least 3 sectors.</li>
<li>In construction, total appointments rose to 829 YTD to 10 Sept 2023 from 588 a year ago and from 250 in the preceding comparable period. </li>
<li>Hotel &amp; food services and retail trade are also seeing high growth of insolvencies. Australia's banks will likely face more defaults, NPLs and credit costs. </li>
</ul>


Australia Securities &amp; Investment Commission produces high-frequency data on insolvencies, which is valuable data for analyzing banks. There is pronounced deterioration in at least 3 sectors.
In construction, total appointments rose to 829 YTD to 10 Sept 2023 from 588 a year ago and from 250 in the preceding comparable period. 
Hotel &amp; food services and retail trade are also seeing high growth of insolvencies. Australia's banks will likely face more defaults, NPLs and credit costs. 


Australia - New Insolvencies Data: Construction Appointments at 829 Vs 588 YoY | Credit Risk Worsens

Australia

Commonwealth Bank of Australia provides banking, life insurance, and related services for individuals, small businesses and medium sized commercial enterprises. The Bank provides corporate and general banking, international financing, institutional banking and stock broking and funds management such as superannuation product.

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Commonwealth Bank of Australia (CBA AU)

Let's Talk Aussie Franking Credits

Dividend imputation allows tax credits to be passed to shareholders from companies for corporate tax paid. It prevents double taxation and treats...

David Blennerhassett

ASX Short Interest Weekly (Aug 21st): JB Hi-Fi, CSL, Transurban, NEWMONT, Zip

We analyzed ASX short interest report for the past week and highlight short interest changes in JB Hi-Fi, CSL, Transurban, NEWMONT, Zip.

Ke Yan, CFA, FRM

Aussie Shorts [17 Aug 2026]: PLS Group, Woodside Energy, CAR Group, Xero, Wisetech Global

The largest industry net increase in the past week was A$0.1bn into "Media/Services"; the largest industry net decrease was A$0.4bn out of "Banks"....

David Blennerhassett

ASX Short Interest Weekly (Aug 14th): CSL, South32, Iress, Computershare, Coles

We analyzed ASX short interest report for the past week and highlight short interest changes in CSL, South32, Iress, Computershare, Coles.

Ke Yan, CFA, FRM

Australia - New Insolvencies Data: Construction Appointments at 829 Vs 588 YoY | Credit Risk Worsens

New insolvencies data is weakest in construction sector, but also there is major deterioration in accommodations, food, retail trade. The HFD...

Daniel Tabbush

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