Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

United Integrated Services / Index Rebalance

<ul>
<li>The T50 index represents the top 50 largest stocks by market capitalization in the Taiwan Stock Exchange (TWSE). The T100 index represents the next 100 largest names (51-150 ranks).</li>
<li>Today is the base date for the final ranks for the December 2024 index rebal event.</li>
<li>In this insight, we take a look at our final expectations for ADDs/DELs and their flow implications for the TDIV index which will also have a rebalance event in December.</li>
</ul>


The T50 index represents the top 50 largest stocks by market capitalization in the Taiwan Stock Exchange (TWSE). The T100 index represents the next 100 largest names (51-150 ranks).
Today is the base date for the final ranks for the December 2024 index rebal event.
In this insight, we take a look at our final expectations for ADDs/DELs and their flow implications for the TDIV index which will also have a rebalance event in December.


Quiddity Leaderboard T50/​​​100 Dec 24:  TDIV Exp ADD/DEL In the Money; Strong Trade Performance

<ul>
<li>The T50 index represents the top 50 largest stocks by market capitalization in the Taiwan Stock Exchange (TWSE). The T100 index represents the next 100 largest names (51-150 ranks).</li>
<li>In this insight, we take a look at the potential ADDs and DELs for the December 2024 index rebal event.</li>
<li>Currently, we see one change for T50 and two changes for T100 but there are four more weeks to the base date and our expectations can change until then.</li>
</ul>


The T50 index represents the top 50 largest stocks by market capitalization in the Taiwan Stock Exchange (TWSE). The T100 index represents the next 100 largest names (51-150 ranks).
In this insight, we take a look at the potential ADDs and DELs for the December 2024 index rebal event.
Currently, we see one change for T50 and two changes for T100 but there are four more weeks to the base date and our expectations can change until then.


Quiddity Leaderboard T50/​​​100 Dec 24: Two Important Takeaways for the TDIV Index

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>TSMC Plans 2025E Price Hike of Up to 10% for Advanced Nodes—Exceeding Expectations</li>
<li>MediaTek Poised to Benefit from the ARM and Qualcomm Dispute</li>
<li>Is Splitting Intel Key for Its Survival? Intel Ex-Directors Pen Op-Ed Piece</li>
</ul>


TSMC Plans 2025E Price Hike of Up to 10% for Advanced Nodes—Exceeding Expectations
MediaTek Poised to Benefit from the ARM and Qualcomm Dispute
Is Splitting Intel Key for Its Survival? Intel Ex-Directors Pen Op-Ed Piece


Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

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 short interest of TWSE Stocks as of Aug 16th which has an aggregated short interest worth USD19.4bn.</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 TSMC, Fortune Elec, Hon Hai, Far Eastone Tele, Chunghwa Telecom.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Aug 16th which has an aggregated short interest worth USD19.4bn.
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 TSMC, Fortune Elec, Hon Hai, Far Eastone Tele, Chunghwa Telecom.


TWSE Short Interest Weekly (Aug 16th): TSMC, Fortune Elec, Hon Hai, Far Eastone Tele

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Aug 9th which has an aggregated short interest worth USD18.6bn.</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 Hon Hai, Quanta Computer, TSMC, Elite Material, Asia Vital, Gigabyte Tech, Zhen Ding Tech, Tcc Group Holdin, Global Unichip.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Aug 9th which has an aggregated short interest worth USD18.6bn.
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 Hon Hai, Quanta Computer, TSMC, Elite Material, Asia Vital, Gigabyte Tech, Zhen Ding Tech, Tcc Group Holdin, Global Unichip.


TWSE Short Interest Weekly (Aug 9th): Hon Hai, Quanta Computer, TSMC, Elite Material, Asia Vital

Taiwan

Macronix International Co., Ltd. designs, manufactures, and markets integrated circuits (ICs) as well as memory products.  The Company's products include nonvolatile memory integrated circuits, mask ROM (Read Only Memory), EPROM (Erasable Programmable ROM), and flash memory products.  Macronix also produces logic ICs for audio, clock generators, and graphic application devices.

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Macronix International (2337 TT)

Quiddity Leaderboard T50/100 Dec 24: TDIV Exp ADD/DEL In the Money; Strong Trade Performance

United Integrated Services (2404 TT) has outperformed Formosa Sumco (3532 TT) by 39% since 22nd October 2024. Now it might be time to unwind this...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/100 Dec 24: Two Important Takeaways for the TDIV Index

United Intergrated Services (2404 TT) has outperformed Formosa Sumco (3532 TT) by 21% since 22nd October. UIS (2404) is a T100+TDIV expected ADD...

Janaghan Jeyakumar, CFA

Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Vincent Fernando, CFA

TWSE Short Interest Weekly (Aug 16th): TSMC, Fortune Elec, Hon Hai, Far Eastone Tele

We analyzed TWSE short interest report for the past week and highlighted short interest changes in TSMC, Fortune Elec, Hon Hai, Far Eastone Tele,...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Aug 9th): Hon Hai, Quanta Computer, TSMC, Elite Material, Asia Vital

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Hon Hai, Quanta Computer, TSMC, Elite Material,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Quiddity Leaderboard T50/​​​100 Dec 24: TDIV Exp ADD/DEL In the Money; Strong Trade Performance

United Integrated Services (2404 TT) has outperformed Formosa Sumco (3532 TT) by 39% since 22nd October 2024. Now it might be time to unwind this...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/​​​100 Dec 24: Two Important Takeaways for the TDIV Index

United Intergrated Services (2404 TT) has outperformed Formosa Sumco (3532 TT) by 21% since 22nd October. UIS (2404) is a T100+TDIV expected ADD...

Janaghan Jeyakumar, CFA

Taiwan Tech Weekly: Wave of Earnings Imminent; New TSMC Price Hike; Mediatek Winner of QCOM/ARM Spat

​TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.

Vincent Fernando, CFA

TWSE Short Interest Weekly (Aug 16th): TSMC, Fortune Elec, Hon Hai, Far Eastone Tele

We analyzed TWSE short interest report for the past week and highlighted short interest changes in TSMC, Fortune Elec, Hon Hai, Far Eastone Tele,...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Aug 9th): Hon Hai, Quanta Computer, TSMC, Elite Material, Asia Vital

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Hon Hai, Quanta Computer, TSMC, Elite Material,...

Ke Yan, CFA, FRM

Quiddity Leaderboard T50/100 Dec 24: TDIV Exp ADD/DEL In the Money; Strong Trade Performance

Quiddity Leaderboard T50/100 Dec 24: Two Important Takeaways for the TDIV Index

TSMC to raise prices even higher, MediaTek to benefit from ARM and Qualcomm dispute, former Intel directors suggest splitting Intel for survival.