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 Nov 15th which has an aggregated holding worth USD999.2bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,830mln. 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 Eva Airways, Mitac, TSMC, Quanta Computer, Hon Hai Precision Industry, Chailease, UMC.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 15th which has an aggregated holding worth USD999.2bn.
We estimate that foreign flows to be outflows of USD2,830mln. 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 Eva Airways, Mitac, TSMC, Quanta Computer, Hon Hai Precision Industry, Chailease, UMC.


TWSE Foreign Holding Weekly (Nov 15th): Eva Airways, Mitac, TSMC, Quanta Computer

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

Event-Driven

<ul>
<li>Using data from the close on 15 November, there could be 6 adds and 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in December.</li>
<li>There will also be capping and funding flows that will lead to a one-way turnover of 16.9% and a one-way trade of TWD 57.5bn (US$1.77bn).</li>
<li>Short interest is at the highs in most forecast deletes, while the trend is mixed among the potential inclusions.</li>
</ul>


Using data from the close on 15 November, there could be 6 adds and 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in December.
There will also be capping and funding flows that will lead to a one-way turnover of 16.9% and a one-way trade of TWD 57.5bn (US$1.77bn).
Short interest is at the highs in most forecast deletes, while the trend is mixed among the potential inclusions.


Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Capital Markets

<ul>
<li>Regional container carrier TS Lines debuted in HK at HK$4.18 on November 1 </li>
<li>Post-IPO, shares appear cheap, trading at 65% of fleet replacement + net cash</li>
<li>We provide updates on early trading, Q324 earnings from peers, &amp; more</li>
</ul>


Regional container carrier TS Lines debuted in HK at HK$4.18 on November 1 
Post-IPO, shares appear cheap, trading at 65% of fleet replacement + net cash
We provide updates on early trading, Q324 earnings from peers, &amp; more


TS Lines HKEX IPO: Early Trading | Valuation Vs Wan Hai & RCL | Return to TransPac May Not Work Out

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 8th which has an aggregated holding worth USD1,059.5bn.</li>
<li>We estimate that foreign flows to be inflows of USD77mln. 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, Hon Hai Precision Industry, Foxconn Technology, Wistron, TSMC, Mediatek, United Microelectronics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 8th which has an aggregated holding worth USD1,059.5bn.
We estimate that foreign flows to be inflows of USD77mln. 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, Hon Hai Precision Industry, Foxconn Technology, Wistron, TSMC, Mediatek, United Microelectronics.


TWSE Foreign Holding Weekly (Nov 8th): Quanta Computer, Hon Hai Precision Industry

Equity Bottom-Up

ZIM Integrated Shipping Services / Equity Bottom-Up

<ul>
<li>We are convinced container shipping price momentum is waning, medium-term</li>
<li>Not surprisingly, carrier ZIM's share performance correlates to price momentum</li>
<li>Shorting ZIM against Long position in terminal operator isolates sagging price</li>
</ul>


We are convinced container shipping price momentum is waning, medium-term
Not surprisingly, carrier ZIM's share performance correlates to price momentum
Shorting ZIM against Long position in terminal operator isolates sagging price


Short ZIM Against Long Position in China Merchants Port Hldgs | 2025 High Conviction

Taiwan

Evergreen Marine Corp. (Taiwan) Ltd. transports freight by ships. The Company operates container ships to move freight throughout the world. Evergreen Marine has interests in terminals, airline operations and motor freight transportation, as well as container manufacturing.

Price Gauge
52-week Range	0.00 - 0.00
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Evergreen Marine Corp (2603 TT)

TWSE Foreign Holding Weekly (Nov 15th): Eva Airways, Mitac, TSMC, Quanta Computer

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

Ke Yan, CFA, FRM

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade

There could be 6 adds, 5 deletes, capping and funding changes, leading to a one-way turnover of 16.9% and a round-trip trade of US$3.55bn. There...

Brian Freitas

TS Lines HKEX IPO: Early Trading | Valuation Vs Wan Hai & RCL | Return to TransPac May Not Work Out

In this insight we offer some quick updates on regional container carrier TS Lines, which successfully listed its shares in Hong Kong on November 1.

Tracking Traffic

TWSE Foreign Holding Weekly (Nov 8th): Quanta Computer, Hon Hai Precision Industry

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

Ke Yan, CFA, FRM

Short ZIM Against Long Position in China Merchants Port Hldgs | 2025 High Conviction

We believe container shipping price momentum is waning. Pairing a short position in carrier ZIM against a long position in terminal operator CMPH...

Tracking Traffic

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TWSE Foreign Holding Weekly (Nov 15th): Eva Airways, Mitac, TSMC, Quanta Computer

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

Ke Yan, CFA, FRM

Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade

There could be 6 adds, 5 deletes, capping and funding changes, leading to a one-way turnover of 16.9% and a round-trip trade of US$3.55bn. There...

Brian Freitas

TS Lines HKEX IPO: Early Trading | Valuation Vs Wan Hai & RCL | Return to TransPac May Not Work Out

In this insight we offer some quick updates on regional container carrier TS Lines, which successfully listed its shares in Hong Kong on November 1.

Tracking Traffic

TWSE Foreign Holding Weekly (Nov 8th): Quanta Computer, Hon Hai Precision Industry

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

Ke Yan, CFA, FRM

Short ZIM Against Long Position in China Merchants Port Hldgs | 2025 High Conviction

We believe container shipping price momentum is waning. Pairing a short position in carrier ZIM against a long position in terminal operator CMPH...

Tracking Traffic

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade