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 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

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Dec 12th. The aggregated short interest was USD28.2bn.</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 Hon Hai Precision, Nanya Technology, King Yuan Electronics, King Slide Works, Winbond Electronics, Hon Hai Precision, Nanya Technology, King Yuan Electronics, King Slide Works.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Dec 12th. The aggregated short interest was USD28.2bn.
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 Hon Hai Precision, Nanya Technology, King Yuan Electronics, King Slide Works, Winbond Electronics, Hon Hai Precision, Nanya Technology, King Yuan Electronics, King Slide Works.


TWSE Short Interest Weekly (Dec 12th): Hon Hai Precision, Nanya Technology, King Yuan Electronics

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Sep 23rd which has an aggregated short interest worth USD12.3bn.</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 Eva Airways, Powerchip Semiconductor, AUO Corp, Formosa Plastics, Realtek, Yageo.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Sep 23rd which has an aggregated short interest worth USD12.3bn.
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 Eva Airways, Powerchip Semiconductor, AUO Corp, Formosa Plastics, Realtek, Yageo.


TWSE Short Interest Weekly (Sep 23rd): Eva Airways, Powerchip

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Equity Bottom-Up

<h2>California October-November price and sales data mixed</h2><p>Since our last note on this topic on November 16th, the California Association of Realtors (CAR.org) has released October and November home price and sales volume updates. CAR.org data for October and November is mixed, in our view:</p><ul><li>Median single-family home prices rose moderately on a Y/Y basis in both October and November, but median prices fell sequentially in both months. Median prices have now fallen by -4.7% since the August 2016 peak…</li></ul>

California October-November price and sales data mixedSince our last note on this topic on November 16th, the California Association of Realtors (CAR.org) has released October and November home price and sales volume updates. CAR.org data for October and November is mixed, in our view:Median single-family home prices rose moderately on a Y/Y basis in both October and November, but median prices fell sequentially in both months. Median prices have now fallen by -4.7% since the August 2016 peak…

Oct-Nov California Home Sales Wobble, Plus Big Decline in Re-Fi Pool; Stay Short US Home Improvement

<p>Back in late September we analyzed the latest numbers coming out of Southern California's suburban real estate market and concluded that it would be a good time to get short Asian manufacturers of home improvement items sold in the US. Our view then was that even a modest increase in borrowing costs would hurt housing affordability, leading to a slowdown in housing-related activity and, ultimately, weaker demand for home improvement items manufactured in Asia, such as power tools, home decor…</p>

Back in late September we analyzed the latest numbers coming out of Southern California's suburban real estate market and concluded that it would be a good time to get short Asian manufacturers of home improvement items sold in the US. Our view then was that even a modest increase in borrowing costs would hurt housing affordability, leading to a slowdown in housing-related activity and, ultimately, weaker demand for home improvement items manufactured in Asia, such as power tools, home decor…

[Home Prices & Mortgage Rates Up] + [Weak Guidance From HD, LOW] = Stay Short Home Improvement Names

Taiwan

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

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Nien Made Enterprise (8464 TT)

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

TWSE Short Interest Weekly (Dec 12th): Hon Hai Precision, Nanya Technology, King Yuan Electronics

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Hon Hai Precision (2317 TT), Nanya Technology...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Sep 23rd): Eva Airways, Powerchip

We analyzed TWSE short interest report for the past week and highlight short interest changes in Eva Airways, Powerchip Semiconductor, AUO Corp,...

Ke Yan, CFA, FRM

Oct-Nov California Home Sales Wobble, Plus Big Decline in Re-Fi Pool; Stay Short US Home Improvement

California October-November price and sales data mixedSince our last note on this topic on November 16th, the California Association of Realtors...

Daniel Hellberg

[Home Prices & Mortgage Rates Up] + [Weak Guidance From HD, LOW] = Stay Short Home Improvement Names

Back in late September we analyzed the latest numbers coming out of Southern California's suburban real estate market and concluded that it would...

Daniel Hellberg

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)