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

Event-Driven

<ul>
<li>Using data from the close on 19 April, there could be 5 changes to the Yuanta/​P-Shares Taiwan Dividend Plus ETF in June.</li>
<li>There will also be capping and funding flows that will lead to a one-way turnover of 13.6% and a one-way trade of US$885m.</li>
<li>There are 10 stocks with at least 3 days ADV to trade from passive trackers and another 10 stocks that have at least 1 day ADV to trade.</li>
</ul>


Using data from the close on 19 April, there could be 5 changes to the Yuanta/​P-Shares Taiwan Dividend Plus ETF in June.
There will also be capping and funding flows that will lead to a one-way turnover of 13.6% and a one-way trade of US$885m.
There are 10 stocks with at least 3 days ADV to trade from passive trackers and another 10 stocks that have at least 1 day ADV to trade.


Yuanta/​P-Shares Taiwan Dividend Plus ETF: June Rebalance Preview

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Equity Bottom-Up

Taiwan Semiconductor (TSMC) / Equity Bottom-Up

<ul>
<li>There's been a major disconnect between performance of the Philly Semiconductor Index and the Taiwan market recently.</li>
<li>Semi optimism has picked up substantially in U.S. markets and institutional favor towards the Taiwan market could improve as a result.</li>
<li>We indentify US$1bn+  market cap stocks most under-held by institutions, as well as those who may be most at risk of a short squeeze.</li>
</ul>


There's been a major disconnect between performance of the Philly Semiconductor Index and the Taiwan market recently.
Semi optimism has picked up substantially in U.S. markets and institutional favor towards the Taiwan market could improve as a result.
We indentify US$1bn+  market cap stocks most under-held by institutions, as well as those who may be most at risk of a short squeeze.


Taiwan Short Squeeze Ahead? Taiwan Market Significantly Lagging Philly SOX Index

APAC IPOs & Placements, Aequitas Research

Clarence Chu

APAC 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

BenQ BM Holding Cayman Corp / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/benq-bm-holding-cayman-corp-fc001fc8-7276-47f9-90fb-75e6268e8727" target="_blank" data-smartkarma-citation="entities:41287:1" rel="noopener">BenQ BM Holding Cayman Corp (2228515D KY)</a> is looking to raise at least US$100m in its upcoming Hong Kong IPO. The bookrunners on the deal are CICC and Citigroup.</li>
<li>BenQ BM Holding Cayman Corp (BenQ BM) is a general hospital operator.</li>
<li>As of Dec 2023, BenQ BM owned and operated two hospitals, with a total combined GFA of approximately 380,000 sqm and 1,850 registered beds.</li>
</ul>



BenQ BM Holding Cayman Corp (2228515D KY) is looking to raise at least US$100m in its upcoming Hong Kong IPO. The bookrunners on the deal are CICC and Citigroup.
BenQ BM Holding Cayman Corp (BenQ BM) is a general hospital operator.
As of Dec 2023, BenQ BM owned and operated two hospitals, with a total combined GFA of approximately 380,000 sqm and 1,850 registered beds.


BenQ BM Holding Cayman Corp Pre-IPO Tearsheet

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 15th which has an aggregated holding worth USD3,904.8bn.</li>
<li>We estimate that foreign flows to be outflows of USD91mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.</li>
<li>We highlight foreign changes in Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc Financial, TSMC, Evergreen Marine, Alchip Tech, Lite-On Tech, Novatek.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 15th which has an aggregated holding worth USD3,904.8bn.
We estimate that foreign flows to be outflows of USD91mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.
We highlight foreign changes in Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc Financial, TSMC, Evergreen Marine, Alchip Tech, Lite-On Tech, Novatek.


TWSE Foreign Holding Weekly (Mar 15th): Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc Financial

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Jan 5th which has an aggregated short interest worth USD13.4bn.</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 Wan Hai Lines, Silergy, Quanta Computer, Asustek Computer, Asia Vital.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jan 5th which has an aggregated short interest worth USD13.4bn.
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 Wan Hai Lines, Silergy, Quanta Computer, Asustek Computer, Asia Vital.


TWSE Short Interest Weekly (Jan 5th): Wan Hai Lines, Silergy, Quanta Computer, Asustek Computer

Taiwan

Qisda Corporation manufactures and markets computer peripheral, communication, and consumer electronic products.  The Company also provides consulting and technical services.  The main products are multimedia displays, keyboards, scanners, mobile phones, and compact disk read only memory (CD-ROM) drives.

Qisda Corp (2352 TT)

Yuanta/P-Shares Taiwan Dividend Plus ETF: June Rebalance Preview

There could be 5 changes for the Yuanta/P-Shares Taiwan Dividend Plus ETF in June. There will also be capping/funding flows that will lead to a...

Brian Freitas

Taiwan Short Squeeze Ahead? Taiwan Market Significantly Lagging Philly SOX Index

We indentify US$1bn+ market cap stocks most under-held by institutions, as well as those who may be most at risk of a short squeeze.

Vincent Fernando, CFA

BenQ BM Holding Cayman Corp Pre-IPO Tearsheet

BenQ BM Holding Cayman Corp (2228515D KY) is looking to raise at least US$100m in its upcoming Hong Kong IPO. The bookrunners on the deal are CICC...

Clarence Chu

TWSE Foreign Holding Weekly (Mar 15th): Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Jan 5th): Wan Hai Lines, Silergy, Quanta Computer, Asustek Computer

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Wan Hai Lines, Silergy, Quanta Computer, Asustek...

Ke Yan, CFA, FRM

Yuanta/​P-Shares Taiwan Dividend Plus ETF: June Rebalance Preview

There could be 5 changes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in June. There will also be capping/funding flows that will lead to a...

Brian Freitas

Taiwan Short Squeeze Ahead? Taiwan Market Significantly Lagging Philly SOX Index

We indentify US$1bn+ market cap stocks most under-held by institutions, as well as those who may be most at risk of a short squeeze.

Vincent Fernando, CFA

BenQ BM Holding Cayman Corp Pre-IPO Tearsheet

BenQ BM Holding Cayman Corp (2228515D KY) is looking to raise at least US$100m in its upcoming Hong Kong IPO. The bookrunners on the deal are CICC...

Clarence Chu

TWSE Foreign Holding Weekly (Mar 15th): Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Jan 5th): Wan Hai Lines, Silergy, Quanta Computer, Asustek Computer

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Wan Hai Lines, Silergy, Quanta Computer, Asustek...

Ke Yan, CFA, FRM

Yuanta/P-Shares Taiwan Dividend Plus ETF: June Rebalance Preview

There could be 5 changes for the Yuanta/P-Shares Taiwan Dividend Plus ETF in June. There will also be capping/funding flows that will lead to a...