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 Jul 3rd. The aggregated holding was USD2,311.7bn.</li>
<li>We estimate that foreign flows to be outflows of USD5,528mln. 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, UMC, Hon Hai Precision, Macronix Intl, Kinsus Interconnect Technology.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jul 3rd. The aggregated holding was USD2,311.7bn.
We estimate that foreign flows to be outflows of USD5,528mln. 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, UMC, Hon Hai Precision, Macronix Intl, Kinsus Interconnect Technology.


TWSE Foreign Holding Weekly (Jul 3rd): TSMC, UMC, Hon Hai Precision, Macronix Intl

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 26th. The aggregated holding was USD2,204.5bn.</li>
<li>We estimate that foreign flows to be outflows of USD8,550mln. 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, Winbond Electronics, Hon Hai Precision, ASE Industrial, King Yuan Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 26th. The aggregated holding was USD2,204.5bn.
We estimate that foreign flows to be outflows of USD8,550mln. 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, Winbond Electronics, Hon Hai Precision, ASE Industrial, King Yuan Electronics.


TWSE Foreign Holding Weekly (Jun 26th): TSMC, Winbond Electronics, Hon Hai Precision, ASE Industrial

Equity Research Analyst - Long-Short

Raj S, CA, CFA

Equity Bottom-Up

<ul>
<li>
Market position: Delta is a leading AI data-center PSU supplier, with estimated 50%+ share, giving it direct exposure as AI racks require more power per rack.</li>
<li>
Product cycle: PSU upgrades from 5.5kW to 12kW and 30-36kW drive higher ASP per watt, more power-shelf content and margin expansion.</li>
<li>
Valuation: Our base case is consensus PSU growth; the upside case where Delta captures DC/DC and 800VDC power-rack content content can lead to &lt;100% upside over near to medium term.</li>
</ul>



Market position: Delta is a leading AI data-center PSU supplier, with estimated 50%+ share, giving it direct exposure as AI racks require more power per rack.

Product cycle: PSU upgrades from 5.5kW to 12kW and 30-36kW drive higher ASP per watt, more power-shelf content and margin expansion.

Valuation: Our base case is consensus PSU growth; the upside case where Delta captures DC/DC and 800VDC power-rack content content can lead to &lt;100% upside over near to medium term.


Delta Electronics (2308 TT) - AI Power Architecture Upgrade

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 18th. The aggregated holding was USD2,322.4bn.</li>
<li>We estimate that foreign flows to be inflows of USD2,726mln. 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 Nanya Technology, Powerchip Semiconductor Manufacturing, Global Unichip, MediaTek, ASE Industrial.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 18th. The aggregated holding was USD2,322.4bn.
We estimate that foreign flows to be inflows of USD2,726mln. 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 Nanya Technology, Powerchip Semiconductor Manufacturing, Global Unichip, MediaTek, ASE Industrial.


TWSE Foreign Holding Weekly (Jun 18th): Nanya Technology, Powerchip Semiconductor Manufacturing

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 12th. The aggregated holding was USD2,215.6bn.</li>
<li>We estimate that foreign flows to be outflows of USD9,356mln. 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, MediaTek, Yageo, Quanta Computer, Delta Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 12th. The aggregated holding was USD2,215.6bn.
We estimate that foreign flows to be outflows of USD9,356mln. 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, MediaTek, Yageo, Quanta Computer, Delta Electronics.


TWSE Foreign Holding Weekly (Jun 12th): TSMC, MediaTek, Yageo, Quanta Computer, Delta Electronics

Taiwan

Lite-On Technology Corp. manufactures and markets a wide range of computer components and Peripheral equipment. The Company's products include computers, digital home products, consumer electronics, communications products, key components and sub-systems, and optoelectronic components. Power Supplies, Enclosures, and LEDs business are the core of Lite-On Technology's business.

Price Gauge
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Lite On Technology (2301 TT)

TWSE Foreign Holding Weekly (Jul 3rd): TSMC, UMC, Hon Hai Precision, Macronix Intl

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, UMC, Hon Hai Precision, Macronix Intl,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Jun 26th): TSMC, Winbond Electronics, Hon Hai Precision, ASE Industrial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Winbond Electronics, Hon Hai Precision,...

Ke Yan, CFA, FRM

Delta Electronics (2308 TT) - AI Power Architecture Upgrade

Delta leads AI data-center PSUs with 50%+ share; Nvidia’s power-architecture upgrade drives PSU ASP/mix expansion, while 800VDC power racks create...

Raj S, CA, CFA

TWSE Foreign Holding Weekly (Jun 18th): Nanya Technology, Powerchip Semiconductor Manufacturing

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Nanya Technology, Powerchip Semiconductor...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Jun 12th): TSMC, MediaTek, Yageo, Quanta Computer, Delta Electronics

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, MediaTek, Yageo, Quanta Computer, Delta...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)