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

Shenton Research

Shenton 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 Sep 18th. The aggregated holding was USD2,281.9bn.</li>
<li>We estimate that foreign flows to be inflows of USD2,372mln. 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 Wistron, TSMC, MediaTek, Nanya Technology, Nan Ya Plastics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Sep 18th. The aggregated holding was USD2,281.9bn.
We estimate that foreign flows to be inflows of USD2,372mln. 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 Wistron, TSMC, MediaTek, Nanya Technology, Nan Ya Plastics.


TWSE Foreign Holding Weekly (Sep 18th): Wistron, TSMC, MediaTek, Nanya Technology, Nan Ya Plastics

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Sep 18th. The aggregated short interest was USD41.5bn.</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 Shin Kong Financial, Nan Ya Plastics, Global Unichip, Winbond Electronics, UMC.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Sep 18th. The aggregated short interest was USD41.5bn.
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 Shin Kong Financial, Nan Ya Plastics, Global Unichip, Winbond Electronics, UMC.


TWSE Short Interest Weekly (Sep 18th): Shin Kong Financial, Nan Ya Plastics, Global Unichip, UMC

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We will maintain our bullish view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $119-$121.</li>
<li>$123-$123.50 remains short-term support to watch on ACWI-US (6.5-month base); we would expect support here on a pullback, but a break below it would likely mean a test of $119-$121</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We will maintain our bullish view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $119-$121.
$123-$123.50 remains short-term support to watch on ACWI-US (6.5-month base); we would expect support here on a pullback, but a break below it would likely mean a test of $119-$121


Israel TA-125 Remains Bullish; Buys in Norway; All MSCI Global Indexes Above Base Supports

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We will maintain our bullish view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $120-$121 (up from 5500 and $115).</li>
<li>We are upgrading Korea(KOSPI) to overweight; we discussed May 30 several Financials and other stocks to buy. KOSPI has exploded higher since, and is now reversing its 2-year RS downtrend.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We will maintain our bullish view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $120-$121 (up from 5500 and $115).
We are upgrading Korea(KOSPI) to overweight; we discussed May 30 several Financials and other stocks to buy. KOSPI has exploded higher since, and is now reversing its 2-year RS downtrend.


Upgrading Korea to Overweight; MSCI ACWI and Emerging Market Breakouts

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Sep 11th. The aggregated holding was USD2,267.8bn.</li>
<li>We estimate that foreign flows to be inflows of USD938mln. 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, Delta Electronics, ASE Industrial, MediaTek, Wistron.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Sep 11th. The aggregated holding was USD2,267.8bn.
We estimate that foreign flows to be inflows of USD938mln. 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, Delta Electronics, ASE Industrial, MediaTek, Wistron.


TWSE Foreign Holding Weekly (Sep 11th): TSMC, Delta Electronics, ASE Industrial, MediaTek, Wistron

Taiwan

Nanya Technology Corp. manufactures and markets dynamic random access memories (DRAMs).  The Company sells its products in Taiwan and exports worldwide.

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Nanya Technology (2408 TT)

TWSE Foreign Holding Weekly (Sep 18th): Wistron, TSMC, MediaTek, Nanya Technology, Nan Ya Plastics

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Wistron, TSMC, MediaTek, Nanya Technology, Nan...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Sep 18th): Shin Kong Financial, Nan Ya Plastics, Global Unichip, UMC

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Shin Kong Financial, Nan Ya Plastics, Global...

Ke Yan, CFA, FRM

Israel TA-125 Remains Bullish; Buys in Norway; All MSCI Global Indexes Above Base Supports

Israel TA-125 Remains Bullish; Buys in Norway; All MSCI Global Indexes Above Base Supports $ACWI, $ACWX, ACWI ex-US Small-Caps, $EEM, and $EFA....

Vermilion Research

Upgrading Korea to Overweight; MSCI ACWI and Emerging Market Breakouts

MSCI $ACWI and Emerging Market $EEM Breakouts; Upgrading Korea $EWY to Overweight; Downgrading Broad Europe, but staying Overweight Germany,...

Vermilion Research

TWSE Foreign Holding Weekly (Sep 11th): TSMC, Delta Electronics, ASE Industrial, MediaTek, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Delta Electronics, ASE Industrial,...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

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