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 May 1st. The aggregated short interest was USD39.9bn.</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 CTBC Financial, Winbond Electronics, King Yuan Electronics, Cathay Financial, ASE Industrial.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of May 1st. The aggregated short interest was USD39.9bn.
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 CTBC Financial, Winbond Electronics, King Yuan Electronics, Cathay Financial, ASE Industrial.


TWSE Short Interest Weekly (May 1st): CTBC Financial, Winbond Electronics, King Yuan Electronics

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Apr 24th. The aggregated short interest was USD34.4bn.</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 Winbond Electronics, King Yuan Electronics, Cathay Financial, Jentech Precision Industrial, Fubon Financial.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Apr 24th. The aggregated short interest was USD34.4bn.
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 Winbond Electronics, King Yuan Electronics, Cathay Financial, Jentech Precision Industrial, Fubon Financial.


TWSE Short Interest Weekly (Apr 24th): Winbond Electronics, King Yuan Electronics, Cathay Financial

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The TDIV index tracks the top 50 names on 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 a look at Quiddity's expectations for index changes and capping flows for the TDIV index for the June 2026 index rebal event.</li>
<li>As of the latest data, we expect 6 ADDs and 5 DELs and one-way flows of ~US$3.9bn including capping effects. </li>
</ul>


The TDIV index tracks the top 50 names on the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.
In this insight, we take a look at Quiddity's expectations for index changes and capping flows for the TDIV index for the June 2026 index rebal event.
As of the latest data, we expect 6 ADDs and 5 DELs and one-way flows of ~US$3.9bn including capping effects. 


Quiddity Leaderboard TDIV Jun26: Many Names with >10x ADV to Trade; Borderline Names to Be Monitored

<ul>
<li>The TDIV index tracks the top 50 names on 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 a look at Quiddity's expectations for index changes and capping flows for the TDIV index for the June 2026 index rebal event.</li>
<li>As of the latest data, we expect 5 ADDs and 4 DELs and one-way flows of ~US$2.94bn, including capping effects. There are 5-7 other companies which could become ADDs. </li>
</ul>


The TDIV index tracks the top 50 names on the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.
In this insight, we take a look at Quiddity's expectations for index changes and capping flows for the TDIV index for the June 2026 index rebal event.
As of the latest data, we expect 5 ADDs and 4 DELs and one-way flows of ~US$2.94bn, including capping effects. There are 5-7 other companies which could become ADDs. 


Quiddity Leaderboard TDIV Jun26: Many Borderline Potential ADDs in the Race

<ul>
<li>We analysed the earning revision of component stocks of MS-Taiwan in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Feng Tay Enterprises, Innolux, Formosa Plastics, TSMC, Eclat Textile, Nien Made Enterprise, Nan Ya Plastics, ASE Industrial.</li>
</ul>


We analysed the earning revision of component stocks of MS-Taiwan in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Feng Tay Enterprises, Innolux, Formosa Plastics, TSMC, Eclat Textile, Nien Made Enterprise, Nan Ya Plastics, ASE Industrial.


MS-Taiwan Index Earning Revision (Feb): Feng Tay Enterprises, Innolux, Formosa Plastics, TSMC

Taiwan

Nien Made Enterprise Co., Ltd. is a manufacturer of an assorted range of window coverings.

Price Gauge
52-week Range	0.00 - 0.00
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Nien Made Enterprise (8464 TT)

TWSE Short Interest Weekly (May 1st): CTBC Financial, Winbond Electronics, King Yuan Electronics

We analyzed TWSE short interest report for the past week and highlighted short interest changes in CTBC Financial, Winbond Electronics, King Yuan...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Apr 24th): Winbond Electronics, King Yuan Electronics, Cathay Financial

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Winbond Electronics (2344 TT), King Yuan...

Ke Yan, CFA, FRM

Quiddity Leaderboard TDIV Jun26: Many Names with >10x ADV to Trade; Borderline Names to Be Monitored

Far Eastone Telecomm (4904 TT) is the highest-impact inflow name with ~26x ADV to buy. The Shanghai Commercial (5876 TT) is the outflow name with...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard TDIV Jun26: Many Borderline Potential ADDs in the Race

There are many potential ADDs close to the cut-off rank of 35. The ranks have an inverse relationship with price in the TDIV selection process...

Janaghan Jeyakumar, CFA

MS-Taiwan Index Earning Revision (Feb): Feng Tay Enterprises, Innolux, Formosa Plastics, TSMC

We analyzed MS-Taiwan's consensus for Feb 2026 and highlighted changes of EPS in Feng Tay Enterprises (9910 TT), Innolux (3481 TT), Formosa...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)