Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

Tong Hsing Electronic Industries Ltd / Event-Driven

Tong Hsing Electronic Industries Ltd (6271 TT)

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the June 2023 Rebalance.</li>
<li>At present, there are no ADDs/DELs expected for the T50 index but there could be a couple of changes for the T100 index.</li>
<li>With roughly a month remaining to the base date, there could be more changes to our expectations in the run up to the June 2023 rebalance.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the June 2023 Rebalance.
At present, there are no ADDs/DELs expected for the T50 index but there could be a couple of changes for the T100 index.
With roughly a month remaining to the base date, there could be more changes to our expectations in the run up to the June 2023 rebalance.


Quiddity Leaderboard TWSE50/​100 Jun 23: Tong Hsing Is a Div+ DEL as It Stands

Index Rebalance

Tong Hsing Electronic Industries Ltd / Index Rebalance

<ul>
<li>In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the June 2023 Rebalance.</li>
<li>As things stand, there do not seem to be any ADDs/DELs for the T50 index or the T100 index.</li>
<li>However, with multiple names close to the border and with two more months to the base date a lot of ranks could change.</li>
</ul>


In this insight, we take a look at the names leading the race to become ADDs/DELs for the T50 and T100 Indices for the June 2023 Rebalance.
As things stand, there do not seem to be any ADDs/DELs for the T50 index or the T100 index.
However, with multiple names close to the border and with two more months to the base date a lot of ranks could change.


Quiddity Leaderboard TWSE50/100 Jun 23: Tong Hsing in the Spotlight Again

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 short interest of TWSE Stocks as of Jan 13th which has an aggregated short interest worth USD12.1bn.</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 Delta Elec, Cathay Financial, Gigabyte Tech.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jan 13th which has an aggregated short interest worth USD12.1bn.
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 Delta Elec, Cathay Financial, Gigabyte Tech.


TWSE Short Interest Weekly (Jan 13th): Delta Elec, Cathay Financial, Gigabyte Tech

External broker reports(aggregated public sources), Capital Securities Corp

Capital Securities

External broker reports(aggregated public sources)

Capital Securities Corp

Capital Securities provides clients with investment services covering diversified financial products. We have outstanding business performance amid intense competition in the domestic securities market. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<p>Pricing in catalysts; recommend NEUTRAL. Given e-commerce penetration upside and higher market shares, momo.com may continue growing in FY22.. However, momo.com’s 3Q21 revenue missed our forecast. We revise down our FY21/FY22 revenue growth forecast. Additionally, we have concerns over higher labor/logistics costs. momo.com’s stock price already hit our prior TP, pricing in catalysts. Recommend NEUTRAL with TP of NTD1670 (80x FY22 PER).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Pricing in catalysts; recommend NEUTRAL. Given e-commerce penetration upside and higher market shares, momo.com may continue growing in FY22.. However, momo.com’s 3Q21 revenue missed our forecast. We revise down our FY21/FY22 revenue growth forecast. Additionally, we have concerns over higher labor/logistics costs. momo.com’s stock price already hit our prior TP, pricing in catalysts. Recommend NEUTRAL with TP of NTD1670 (80x FY22 PER).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

<p>Woori Home Shopping is looking to sell about 3.8m shares of <a href="https://www.smartkarma.com/entities/momo-com-inc" target="_blank" data-smartkarma-citation="entities:8403:1" rel="noopener">Momo.Com Inc (8454 TT)</a> . Woori Home Shopping will still hold about 7.9% stake in the company post share-sale.</p><p>In this note, we share our thoughts on the selldown and run the deal through ECM framework.</p>

Woori Home Shopping is looking to sell about 3.8m shares of Momo.Com Inc (8454 TT) . Woori Home Shopping will still hold about 7.9% stake in the company post share-sale.In this note, we share our thoughts on the selldown and run the deal through ECM framework.

Momo.com Placement - Selldown by Woori, Could Be Worth a Small Bet

Taiwan

Momo.com Inc is an e-commerce services company. The Company offers TV shopping and Internet shopping services, including beauty products, clothing, leather goods and food shops.

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Momo.Com Inc (8454 TT)

Quiddity Leaderboard TWSE50/100 Jun 23: Tong Hsing Is a Div+ DEL as It Stands

T100 Expected DEL Tong Hsing Electronic Industries (6271 TT) is a member of the Taiwan Div+ index and if the stock gets deleted from T100, the...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard TWSE50/100 Jun 23: Tong Hsing in the Spotlight Again

Tong Hsing Electronic is close to becoming a T100 DEL which means it is also close to becoming a Div+ index DEL which might have significant index...

Janaghan Jeyakumar, CFA

TWSE Short Interest Weekly (Jan 13th): Delta Elec, Cathay Financial, Gigabyte Tech

We analyzed TWSE short interest report for the past week and highlight short interest changes in Delta Elec, Cathay Financial, Gigabyte Tech.

Ke Yan, CFA, FRM

momo.com (8454 TT, NEUTRAL, NTD1770)

Pricing in catalysts; recommend NEUTRAL. Given e-commerce penetration upside and higher market shares, momo.com may continue growing in FY22.....

Capital Securities

Momo.com Placement - Selldown by Woori, Could Be Worth a Small Bet

Woori Home Shopping is looking to sell about 3.8m shares of Momo.Com Inc (8454 TT) . Woori Home Shopping will still hold about 7.9% stake in the...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Quiddity Leaderboard TWSE50/​100 Jun 23: Tong Hsing Is a Div+ DEL as It Stands

T100 Expected DEL Tong Hsing Electronic Industries (6271 TT) is a member of the Taiwan Div+ index and if the stock gets deleted from T100, the...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard TWSE50/100 Jun 23: Tong Hsing in the Spotlight Again

Tong Hsing Electronic is close to becoming a T100 DEL which means it is also close to becoming a Div+ index DEL which might have significant index...

Janaghan Jeyakumar, CFA

TWSE Short Interest Weekly (Jan 13th): Delta Elec, Cathay Financial, Gigabyte Tech

We analyzed TWSE short interest report for the past week and highlight short interest changes in Delta Elec, Cathay Financial, Gigabyte Tech.

Ke Yan, CFA, FRM

momo.com (8454 TT, NEUTRAL, NTD1770)

Pricing in catalysts; recommend NEUTRAL. Given e-commerce penetration upside and higher market shares, momo.com may continue growing in FY22.....

Capital Securities

Momo.com Placement - Selldown by Woori, Could Be Worth a Small Bet

Woori Home Shopping is looking to sell about 3.8m shares of Momo.Com Inc (8454 TT) . Woori Home Shopping will still hold about 7.9% stake in the...

Sumeet Singh

Quiddity Leaderboard TWSE50/100 Jun 23: Tong Hsing Is a Div+ DEL as It Stands