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 Jun 7th which has an aggregated holding worth USD4,400.2bn.</li>
<li>We estimate that foreign flows to be outflows of USD12,832mln. 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 foreign changes in Realtek Semi, Asmedia Tech, Global Unichip, Yang Ming Marine, Tripod Tech, TSMC, Ctbc Financial, Hon Hai, Asustek Computer, Umc.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 7th which has an aggregated holding worth USD4,400.2bn.
We estimate that foreign flows to be outflows of USD12,832mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Realtek Semi, Asmedia Tech, Global Unichip, Yang Ming Marine, Tripod Tech, TSMC, Ctbc Financial, Hon Hai, Asustek Computer, Umc.


TWSE Foreign Holding Weekly (Jun 7th): Realtek Semi, Asmedia Tech, Global Unichip, Yang Ming Marine

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Jun 7th which has an aggregated short interest worth USD101.7bn.</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 Novatek, Eva Airways, Alchip Tech, Realtek Semi, Powerchip Semico, Asustek Computer, Nan Ya Printed.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jun 7th which has an aggregated short interest worth USD101.7bn.
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 Novatek, Eva Airways, Alchip Tech, Realtek Semi, Powerchip Semico, Asustek Computer, Nan Ya Printed.


TWSE Short Interest Weekly (Jun 7th): Novatek, Eva Airways, Alchip Tech, Realtek

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

Vanguard Intl Semiconductor / Index Rebalance

<ul>
<li>There are 13 changes for the TIP Customized Taiwan Select High Dividend Index in June. The TIP Taiwan Select High Dividend ETF (00919 TW) has an AUM of US$6.4bn.</li>
<li>One-Way turnover is estimated at 41% and that will result in a round-trip trade of TWD 168.8bn (US$5.2bn). There are 16 stocks that could have over 4x ADV to trade.</li>
<li>The rebalance will be implemented over 8 trading days and the ETF has started trading the stocks last week.</li>
</ul>


There are 13 changes for the TIP Customized Taiwan Select High Dividend Index in June. The TIP Taiwan Select High Dividend ETF (00919 TW) has an AUM of US$6.4bn.
One-Way turnover is estimated at 41% and that will result in a round-trip trade of TWD 168.8bn (US$5.2bn). There are 16 stocks that could have over 4x ADV to trade.
The rebalance will be implemented over 8 trading days and the ETF has started trading the stocks last week.


TIP Customized Taiwan Select High Dividend Index Rebalance: 13 Changes & US$5.2bn Round-Trip Trade

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of May 24th which has an aggregated holding worth USD4,408.0bn.</li>
<li>We estimate that foreign flows to be inflows of USD5,709mln. 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 foreign changes in TSMC, Lite-On Tech, Umc, Hon Hai, Mediatek, E.Sun Financial, Eva Airways, Ctbc Financial, Novatek, Sinopac Fncl.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of May 24th which has an aggregated holding worth USD4,408.0bn.
We estimate that foreign flows to be inflows of USD5,709mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in TSMC, Lite-On Tech, Umc, Hon Hai, Mediatek, E.Sun Financial, Eva Airways, Ctbc Financial, Novatek, Sinopac Fncl.


TWSE Foreign Holding Weekly (May 24th): TSMC, Lite-On Tech, Umc, Hon Hai, Mediatek, E.Sun Financial

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 26th which has an aggregated holding worth USD3,910.9bn.</li>
<li>We estimate that foreign flows to be inflows of USD3,975mln. 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 foreign changes in TSMC, Quanta Computer, Evergreen Marine, Eva Airways, Hon Hai, Umc, ASE, Wistron, Asustek Computer, Chunghwa Telecom.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Apr 26th which has an aggregated holding worth USD3,910.9bn.
We estimate that foreign flows to be inflows of USD3,975mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in TSMC, Quanta Computer, Evergreen Marine, Eva Airways, Hon Hai, Umc, ASE, Wistron, Asustek Computer, Chunghwa Telecom.


TWSE Foreign Holding Weekly (Apr 26th): TSMC, Quanta Computer, Evergreen Marine, Eva Airways

Taiwan

EVA Airways Corp. is an air carrier that transports passengers and cargos. The Company operates primarily in Taiwan and serves international route networks in North America, Asia, Europe, and Australasia.

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Eva Airways (2618 TT)

TWSE Foreign Holding Weekly (Jun 7th): Realtek Semi, Asmedia Tech, Global Unichip, Yang Ming Marine

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Realtek Semi, Asmedia Tech, Global Unichip, Yang...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Jun 7th): Novatek, Eva Airways, Alchip Tech, Realtek

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Novatek, Eva Airways, Alchip Tech, Realtek Semi,...

Ke Yan, CFA, FRM

TIP Customized Taiwan Select High Dividend Index Rebalance: 13 Changes & US$5.2bn Round-Trip Trade

There are 13 changes for the index in June. One-way turnover is estimated at 41% resulting in a round-trip trade of TWD 168.8bn (US$5.2bn). There...

Brian Freitas

TWSE Foreign Holding Weekly (May 24th): TSMC, Lite-On Tech, Umc, Hon Hai, Mediatek, E.Sun Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Lite-On Tech, Umc, Hon Hai, Mediatek,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Apr 26th): TSMC, Quanta Computer, Evergreen Marine, Eva Airways

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

Ke Yan, CFA, FRM

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