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 21st. The aggregated holding was USD1,288.6bn.</li>
<li>We estimate that foreign flows to be outflows of USD4,241mln. 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, Fubon Financial, ASE Industrial, Alchip Technologies, Ase Industrial, TSMC, Hon Hai Precision, Fubon Financial, Alchip Technologies.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 21st. The aggregated holding was USD1,288.6bn.
We estimate that foreign flows to be outflows of USD4,241mln. 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, Fubon Financial, ASE Industrial, Alchip Technologies, Ase Industrial, TSMC, Hon Hai Precision, Fubon Financial, Alchip Technologies.


TWSE Foreign Holding Weekly (Nov 21st): TSMC, Hon Hai Precision, Fubon Financial, ASE Industrial

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Nov 21st. The aggregated short interest was USD28.0bn.</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 King Yuan Electronics, MediaTek, Asustek Computer, Nan Ya Plastics, Zhen Ding Technology, King Yuan Electronics, MediaTek, Asustek Computer, Nan Ya Plastics, Zhen Ding Technology.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Nov 21st. The aggregated short interest was USD28.0bn.
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 King Yuan Electronics, MediaTek, Asustek Computer, Nan Ya Plastics, Zhen Ding Technology, King Yuan Electronics, MediaTek, Asustek Computer, Nan Ya Plastics, Zhen Ding Technology.


TWSE Short Interest Weekly (Nov 21st): King Yuan Electronics, MediaTek, Asustek Computer

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Nov 7th. The aggregated short interest was USD27.6bn.</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 Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology, Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Nov 7th. The aggregated short interest was USD27.6bn.
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 Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology, Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology.


TWSE Short Interest Weekly (Nov 7th): Yageo, Macronix Intl, WT Microelectronics, TSMC

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The TDIV index tracks the top 50 names in the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.</li>
<li>In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2025 index rebal event.</li>
<li>We expect at least six index changes for the TDIV index. On top of that, there will be capping flows too.</li>
</ul>


The TDIV index tracks the top 50 names in the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.
In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2025 index rebal event.
We expect at least six index changes for the TDIV index. On top of that, there will be capping flows too.


Quiddity Leaderboard TDIV Dec25: ~US$3bn One-Way; Some Changes to Expectations; New Ideas

Tung Ho Steel Enterprise / Index Rebalance

<ul>
<li>The TDIV index tracks the top 50 names in the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.</li>
<li>There were some key methodology changes announced for this index yesterday.</li>
<li>In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2025 index rebal event.</li>
</ul>


The TDIV index tracks the top 50 names in the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.
There were some key methodology changes announced for this index yesterday.
In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2025 index rebal event.


Quiddity Leaderboard TDIV Dec25: Key Methodology Changes; High-Impact Flows; US$3.6bn One-Way

Taiwan

King Yuan Electronics Co., Ltd. provides integrated circuit (IC) testing services to semiconductor manufacturers.  The Company tests the logic, memory, and burn-in functions of ICs.  King Yuan also specializes in IC reeling, packaging, and wafer grinding.

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King Yuan Electronics Co, Ltd. (2449 TT)

TWSE Foreign Holding Weekly (Nov 21st): TSMC, Hon Hai Precision, Fubon Financial, ASE Industrial

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

TWSE Short Interest Weekly (Nov 21st): King Yuan Electronics, MediaTek, Asustek Computer

We analyzed TWSE short interest report for the past week and highlighted short interest changes in King Yuan Electronics (2449 TT), MediaTek (2454...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Nov 7th): Yageo, Macronix Intl, WT Microelectronics, TSMC

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Yageo (2327 TT), Macronix Intl (2337 TT), WT...

Ke Yan, CFA, FRM

Quiddity Leaderboard TDIV Dec25: ~US$3bn One-Way; Some Changes to Expectations; New Ideas

Based on our latest estimates, many names have very high-impact flow expectations. There have been some changes to our expected ADDs/DELs list...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard TDIV Dec25: Key Methodology Changes; High-Impact Flows; US$3.6bn One-Way

We expect 6 ADDs and 6 DELs based on the latest index methodology. We expect US$3.6bn in one-way flows in December 2025 which is around 21%...

Janaghan Jeyakumar, CFA

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