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 Apr 3rd. The aggregated short interest was USD32.4bn.</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 CTBC Financial, Compeq Manufacturing, Cathay Financial, WinWay Technology, Nan Ya Plastics.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Apr 3rd. The aggregated short interest was USD32.4bn.
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 CTBC Financial, Compeq Manufacturing, Cathay Financial, WinWay Technology, Nan Ya Plastics.


TWSE Short Interest Weekly (Apr 3rd): CTBC Financial, Compeq Manufacturing, 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 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 analyzed the changes in short interest of TWSE Stocks as of Mar 27th. The aggregated short interest was USD32.8bn.</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 Nanya Technology, Winbond Electronics, King Yuan Electronics, Kinsus Interconnect Technology, Wan Hai Lines.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Mar 27th. The aggregated short interest was USD32.8bn.
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 Nanya Technology, Winbond Electronics, King Yuan Electronics, Kinsus Interconnect Technology, Wan Hai Lines.


TWSE Short Interest Weekly (Mar 27th): Nanya Technology, Winbond Electronics, King Yuan Electronics

Tung Ho Steel Enterprise / Index Rebalance

<ul>
<li>The T50 index represents the top 50 largest stocks by market capitalization in the Taiwan Stock Exchange. 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/DELs for the June 2026 index rebal event. Currently, we see two changes for T50 and four changes for T100.</li>
<li>The rankings of the T100 potential DELs presented in this insight is very interesting as multiple TDIV members are close to the border. This has important index flow implications.</li>
</ul>


The T50 index represents the top 50 largest stocks by market capitalization in the Taiwan Stock Exchange. The T100 index represents the next 100 largest names (51-150 ranks).
In this insight, we take a look at the potential ADDs/DELs for the June 2026 index rebal event. Currently, we see two changes for T50 and four changes for T100.
The rankings of the T100 potential DELs presented in this insight is very interesting as multiple TDIV members are close to the border. This has important index flow implications.


Quiddity Leaderboard T50/​​​100 Jun26: One TDIV DEL In the Money; Two More Close to the Border!

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

King Yuan Electronics Co, Ltd. / Index Rebalance

<ul>
<li>There will be 5 constituent changes for the Yuanta/P-Shares Taiwan Top 50 ETF and 1 deletion for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in March.</li>
<li>This is another major inclusion for <a href="https://www.smartkarma.com/entities/hon-precision-inc" target="_blank" data-smartkarma-citation="entities:44938:1" rel="noopener">Hon Precision (7769 TT)</a> following the inclusion of the stock in a global index at the close on 27 February.</li>
<li>Semiconductor stocks make up half the number of changes and appear as adds and deletes. The big ETF AUM results in a round-trip trade of US$2.6bn.</li>
</ul>


There will be 5 constituent changes for the Yuanta/P-Shares Taiwan Top 50 ETF and 1 deletion for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in March.
This is another major inclusion for Hon Precision (7769 TT) following the inclusion of the stock in a global index at the close on 27 February.
Semiconductor stocks make up half the number of changes and appear as adds and deletes. The big ETF AUM results in a round-trip trade of US$2.6bn.


Taiwan Top 50/ Yuanta Div+ ETF Rebalance: Semis Dominate as Flow Tops US$2.6bn

Taiwan

President Chain Store Corp. operates seven-eleven convenience stores throughout Taiwan.  These chain stores also provide bill-payment service, ATM service, and photo development service.  The Company's other business areas include retail, logistics, and retail information system.

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President Chain Store (2912 TT)

TWSE Short Interest Weekly (Apr 3rd): CTBC Financial, Compeq Manufacturing, Cathay Financial

We analyzed TWSE short interest report for the past week and highlighted short interest changes in CTBC Financial, Compeq Manufacturing, Cathay...

Ke Yan, CFA, FRM

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

TWSE Short Interest Weekly (Mar 27th): Nanya Technology, Winbond Electronics, King Yuan Electronics

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Nanya Technology (2408 TT), Winbond Electronics...

Ke Yan, CFA, FRM

Quiddity Leaderboard T50/100 Jun26: One TDIV DEL In the Money; Two More Close to the Border!

One of the T100 expected DELs is also a TDIV member and that means it will get deleted from TDIV too as things stands. Separately, there are two...

Janaghan Jeyakumar, CFA

Taiwan Top 50/ Yuanta Div+ ETF Rebalance: Semis Dominate as Flow Tops US$2.6bn

There are 11 constituent changes across indices as round-trip flow tops US$2.6bn. The adds have run up a lot and market volatility has led to a...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TWSE Short Interest Weekly (Apr 3rd): CTBC Financial, Compeq Manufacturing, Cathay Financial

We analyzed TWSE short interest report for the past week and highlighted short interest changes in CTBC Financial, Compeq Manufacturing, Cathay...

Ke Yan, CFA, FRM

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

TWSE Short Interest Weekly (Mar 27th): Nanya Technology, Winbond Electronics, King Yuan Electronics

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Nanya Technology (2408 TT), Winbond Electronics...

Ke Yan, CFA, FRM

Quiddity Leaderboard T50/​​​100 Jun26: One TDIV DEL In the Money; Two More Close to the Border!

One of the T100 expected DELs is also a TDIV member and that means it will get deleted from TDIV too as things stands. Separately, there are two...

Janaghan Jeyakumar, CFA

Taiwan Top 50/ Yuanta Div+ ETF Rebalance: Semis Dominate as Flow Tops US$2.6bn

There are 11 constituent changes across indices as round-trip flow tops US$2.6bn. The adds have run up a lot and market volatility has led to a...

Brian Freitas

Quiddity Leaderboard T50/100 Jun26: One TDIV DEL In the Money; Two More Close to the Border!