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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Quantitative Analysis

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<p>Total short notional in Taiwan stocks is TWD 255,286 mm (~US$8.39 bn) as of 6 December.</p>
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<p>Over the week, the largest short positions were put on in <a href="https://www.smartkarma.com/entities/united-microelectronics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:6450:1">United Microelectronics Corp (2303 TT)</a>, <a href="https://www.smartkarma.com/entities/bizlink-holding-inc" target="_blank" rel="noopener" data-smartkarma-citation="entities:6779:1">Bizlink Holding (3665 TT)</a>, <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" rel="noopener" data-smartkarma-citation="entities:13212:1">Yageo Corporation (2327 TT)</a>, <a href="https://www.smartkarma.com/entities/genius-electronic-optical-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:9632:1">Genius Electronic Optical (3406 TT)</a> and <a href="https://www.smartkarma.com/entities/walsin-technology-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:11084:1">Walsin Technology (2492 TT)</a> while shorts were covered in <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-company-tsmc" target="_blank" rel="noopener" data-smartkarma-citation="entities:11230:1">Taiwan Semiconductor Manufacturing Company (TSMC) (2330 TT)</a>, <a href="https://www.smartkarma.com/entities/au-optronics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:6704:1">Au Optronics (2409 TT)</a>, <a href="https://www.smartkarma.com/entities/cathay-financial-holding-co" target="_blank" rel="noopener" data-smartkarma-citation="entities:17677:1">Cathay Financial Holding Co (2882 TT)</a>, <a href="https://www.smartkarma.com/entities/merry-electronics-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:15538:1">Merry Electronics (2439 TT)</a> and <a href="https://www.smartkarma.com/entities/novatek-microelectronics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:10904:1">Novatek Microelectronics Corp (3034 TT)</a>.   </p>
<p>We take a look at stocks that are most shorted as a percentage of free float. <a href="https://www.smartkarma.com/entities/taisol-electronics-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:7383:1">Taisol Electronics (3338 TT)</a> and <a href="https://www.smartkarma.com/entities/alchip-technologies-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:20219:1">Alchip Technologies (3661 TT)</a> have surged this year and the short interest has increased as well. <a href="https://www.smartkarma.com/entities/young-optics-inc" target="_blank" rel="noopener" data-smartkarma-citation="entities:7295:1">Young Optics (3504 TT)</a> is up a bit for the year as short interest gradually tapers off. <a href="https://www.smartkarma.com/entities/jmc-electronics-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:28188:1">JMC Electronics Co Ltd (6552 TT)</a> is a rare stock that is down for the year and short interest continues to rise.</p>
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Total short notional in Taiwan stocks is TWD 255,286 mm (~US$8.39 bn) as of 6 December.


Over the week, the largest short positions were put on in United Microelectronics Corp (2303 TT), Bizlink Holding (3665 TT), Yageo Corporation (2327 TT), Genius Electronic Optical (3406 TT) and Walsin Technology (2492 TT) while shorts were covered in Taiwan Semiconductor Manufacturing Company (TSMC) (2330 TT), Au Optronics (2409 TT), Cathay Financial Holding Co (2882 TT), Merry Electronics (2439 TT) and Novatek Microelectronics Corp (3034 TT).   
We take a look at stocks that are most shorted as a percentage of free float. Taisol Electronics (3338 TT) and Alchip Technologies (3661 TT) have surged this year and the short interest has increased as well. Young Optics (3504 TT) is up a bit for the year as short interest gradually tapers off. JMC Electronics Co Ltd (6552 TT) is a rare stock that is down for the year and short interest continues to rise.


Taiwan - UMC, BizLink, Yageo Most Shorted

<div><p>Total short notional in Taiwan stocks is TWD 254,881 mm (~US$8.35 bn) as of 29 November.</p></div><div><p>Over the week, the largest short positions were put on in <a href="https://www.smartkarma.com/entities/unimicron-technology-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:18778:1">Unimicron Technology (3037 TT)</a>, <a href="https://www.smartkarma.com/entities/united-microelectronics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:6450:1">United Microelectronics Corp (2303 TT)</a>, <a href="https://www.smartkarma.com/entities/bizlink-holding-inc" target="_blank" rel="noopener" data-smartkarma-citation="entities:6779:1">Bizlink Holding (3665 TT)</a>, <a href="https://www.smartkarma.com/entities/accton-technology-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:4424:1">Accton Technology (2345 TT)</a> and <a href="https://www.smartkarma.com/entities/alchip-technologies-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:20219:1">Alchip Technologies (3661 TT)</a> and shorts were covered in <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" rel="noopener" data-smartkarma-citation="entities:13212:1">Yageo Corporation (2327 TT)</a>, <a href="https://www.smartkarma.com/entities/macronix-international" target="_blank" rel="noopener" data-smartkarma-citation="entities:3247:1">Macronix International (2337 TT)</a>, <a href="https://www.smartkarma.com/entities/novatek-microelectronics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:10904:1">Novatek Microelectronics Corp (3034 TT)</a>, <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-company-tsmc" target="_blank" rel="noopener" data-smartkarma-citation="entities:11230:1">Taiwan Semiconductor Manufacturing Company (TSMC) (2330 TT)</a> and <a href="https://www.smartkarma.com/entities/chunghwa-telecom-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:9181:1">Chunghwa Telecom (2412 TT)</a>.   <a href="https://www.smartkarma.com/entities/macronix-international" target="_blank" rel="noopener" data-smartkarma-citation="entities:3247:1"></a></p></div><div>
<p>The largest short positions as a percentage of free float are <a href="https://www.smartkarma.com/entities/precision-silicon-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:18158:1">Precision Silicon (3016 TT)</a>, <a href="https://www.smartkarma.com/entities/young-optics-inc" target="_blank" rel="noopener" data-smartkarma-citation="entities:7295:1">Young Optics (3504 TT)</a>, <a href="https://www.smartkarma.com/entities/taisol-electronics-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:7383:1">Taisol Electronics (3338 TT)</a> and <a href="https://www.smartkarma.com/entities/jmc-electronics-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:28188:1">JMC Electronics Co Ltd (6552 TT)</a> <a href="https://www.smartkarma.com/entities/walsin-technology-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:11084:1"></a>while the large cap stocks with the highest days to cover are <a href="https://www.smartkarma.com/entities/yulon-motor-company" target="_blank" rel="noopener" data-smartkarma-citation="entities:18249:1">Yulon Motor Company (2201 TT)</a>, <a href="https://www.smartkarma.com/entities/china-synthetic-rubber" target="_blank" rel="noopener" data-smartkarma-citation="entities:2403:1">China Synthetic Rubber (2104 TT)</a>, <a href="https://www.smartkarma.com/entities/highwealth-construction-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:6739:1">Highwealth Construction (2542 TT)</a> and <a href="https://www.smartkarma.com/entities/au-optronics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:6704:1">Au Optronics (2409 TT)</a>. </p>
<p><a href="https://www.smartkarma.com/entities/pegatron-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:12852:1">Pegatron Corp (4938 TT)</a>, <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" rel="noopener" data-smartkarma-citation="entities:13212:1">Yageo Corporation (2327 TT)</a> and <a href="https://www.smartkarma.com/entities/nanya-technology-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:3269:1">Nanya Technology (2408 TT)</a> saw the most shorts covered over the last six months, while the shorts increased the most in <a href="https://www.smartkarma.com/entities/novatek-microelectronics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:10904:1">Novatek Microelectronics Corp (3034 TT)</a> and <a href="https://www.smartkarma.com/entities/taiwan-cement" target="_blank" rel="noopener" data-smartkarma-citation="entities:19736:1">Taiwan Cement (1101 TT)</a>.  </p>
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Total short notional in Taiwan stocks is TWD 254,881 mm (~US$8.35 bn) as of 29 November.Over the week, the largest short positions were put on in Unimicron Technology (3037 TT), United Microelectronics Corp (2303 TT), Bizlink Holding (3665 TT), Accton Technology (2345 TT) and Alchip Technologies (3661 TT) and shorts were covered in Yageo Corporation (2327 TT), Macronix International (2337 TT), Novatek Microelectronics Corp (3034 TT), Taiwan Semiconductor Manufacturing Company (TSMC) (2330 TT) and Chunghwa Telecom (2412 TT).   
The largest short positions as a percentage of free float are Precision Silicon (3016 TT), Young Optics (3504 TT), Taisol Electronics (3338 TT) and JMC Electronics Co Ltd (6552 TT) while the large cap stocks with the highest days to cover are Yulon Motor Company (2201 TT), China Synthetic Rubber (2104 TT), Highwealth Construction (2542 TT) and Au Optronics (2409 TT). 
Pegatron Corp (4938 TT), Yageo Corporation (2327 TT) and Nanya Technology (2408 TT) saw the most shorts covered over the last six months, while the shorts increased the most in Novatek Microelectronics Corp (3034 TT) and Taiwan Cement (1101 TT).  


Taiwan - Pegatron, Yageo, Nanya Tech Shorts Covered

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<p>Total short notional in Taiwan stocks is TWD 256,524 mm (~US$8.41 bn) as of 15 November.</p>
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<p>Over the week, the largest short positions were put on in <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" rel="noopener" data-smartkarma-citation="entities:13212:1">Yageo Corporation (2327 TT)</a>, <a href="https://www.smartkarma.com/entities/genius-electronic-optical-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:9632:1">Genius Electronic Optical (3406 TT)</a>, <a href="https://www.smartkarma.com/entities/general-interface-solution-holding" target="_blank" rel="noopener" data-smartkarma-citation="entities:23589:1">General Interface Solution Holding (6456 TT)</a> and <a href="https://www.smartkarma.com/entities/tpk-holding-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:9499:1">Tpk Holding (3673 TT)</a> and shorts were covered in <a href="https://www.smartkarma.com/entities/largan-precision-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:9126:1">Largan Precision (3008 TT)</a>, <a href="https://www.smartkarma.com/entities/pegatron-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:12852:1">Pegatron Corp (4938 TT)</a>, <a href="https://www.smartkarma.com/entities/cathay-financial-holding-co" target="_blank" rel="noopener" data-smartkarma-citation="entities:17677:1">Cathay Financial Holding Co (2882 TT)</a> and <a href="https://www.smartkarma.com/entities/shin-kong-financial-holding" target="_blank" rel="noopener" data-smartkarma-citation="entities:15351:1">Shin Kong Financial Holding (2888 TT)</a>.   <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" rel="noopener" data-smartkarma-citation="entities:13212:1"></a></p>
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<p>The largest short positions as a percentage of free float are <a href="https://www.smartkarma.com/entities/precision-silicon-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:18158:1">Precision Silicon (3016 TT)</a>, <a href="https://www.smartkarma.com/entities/young-optics-inc" target="_blank" rel="noopener" data-smartkarma-citation="entities:7295:1">Young Optics (3504 TT)</a>, <a href="https://www.smartkarma.com/entities/taisol-electronics-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:7383:1">Taisol Electronics (3338 TT)</a> and <a href="https://www.smartkarma.com/entities/walsin-technology-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:11084:1">Walsin Technology (2492 TT)</a> while the large cap stocks with the highest days to cover are <a href="https://www.smartkarma.com/entities/china-synthetic-rubber" target="_blank" rel="noopener" data-smartkarma-citation="entities:2403:1">China Synthetic Rubber (2104 TT)</a>, <a href="https://www.smartkarma.com/entities/au-optronics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:6704:1">Au Optronics (2409 TT)</a>, <a href="https://www.smartkarma.com/entities/yulon-motor-company" target="_blank" rel="noopener" data-smartkarma-citation="entities:18249:1">Yulon Motor Company (2201 TT)</a> and <a href="https://www.smartkarma.com/entities/tatung-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:3458:1">Tatung Co Ltd (2371 TT)</a>. </p>
<p>Earlier this week, <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" rel="noopener" data-smartkarma-citation="entities:13212:1">Yageo Corporation (2327 TT)</a> made an offer to acquire <a href="https://www.smartkarma.com/entities/kemet-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:26251:1">KEMET Corp (KEM US)</a> for US$27.20 per share in cash valuing the acquisition at US$1.8bn. Short interest which had declined by a third since beginning October rose sharply over the last two trading sessions. The stock is still the most shorted name in Taiwan.</p>
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Total short notional in Taiwan stocks is TWD 256,524 mm (~US$8.41 bn) as of 15 November.


Over the week, the largest short positions were put on in Yageo Corporation (2327 TT), Genius Electronic Optical (3406 TT), General Interface Solution Holding (6456 TT) and Tpk Holding (3673 TT) and shorts were covered in Largan Precision (3008 TT), Pegatron Corp (4938 TT), Cathay Financial Holding Co (2882 TT) and Shin Kong Financial Holding (2888 TT).   


The largest short positions as a percentage of free float are Precision Silicon (3016 TT), Young Optics (3504 TT), Taisol Electronics (3338 TT) and Walsin Technology (2492 TT) while the large cap stocks with the highest days to cover are China Synthetic Rubber (2104 TT), Au Optronics (2409 TT), Yulon Motor Company (2201 TT) and Tatung Co Ltd (2371 TT). 
Earlier this week, Yageo Corporation (2327 TT) made an offer to acquire KEMET Corp (KEM US) for US$27.20 per share in cash valuing the acquisition at US$1.8bn. Short interest which had declined by a third since beginning October rose sharply over the last two trading sessions. The stock is still the most shorted name in Taiwan.





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<p>Total short notional in Taiwan stocks is TWD 255,251 mm (~US$8.40 bn) as of 8 November.</p>
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<p>Over the week, the largest short positions were put on in <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-company-tsmc" target="_blank" rel="noopener" data-smartkarma-citation="entities:11230:1">Taiwan Semiconductor Manufacturing Company (TSMC) (2330 TT)</a>, <a href="https://www.smartkarma.com/entities/realtek-semiconductor-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:7326:1">Realtek Semiconductor (2379 TT)</a>, <a href="https://www.smartkarma.com/entities/evergreen-marine-corp-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:15428:1">Evergreen Marine Corp (2603 TT)</a> and <a href="https://www.smartkarma.com/entities/largan-precision-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:9126:1">Largan Precision (3008 TT)</a> and shorts were covered in <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" rel="noopener" data-smartkarma-citation="entities:13212:1">Yageo Corporation (2327 TT)</a>, <a href="https://www.smartkarma.com/entities/catcher-technology-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:4957:1">Catcher Technology (2474 TT)</a>, <a href="https://www.smartkarma.com/entities/nan-ya-plastics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:10740:1">Nan Ya Plastics (1303 TT)</a> and <a href="https://www.smartkarma.com/entities/flexium-interconnect-inc" target="_blank" rel="noopener" data-smartkarma-citation="entities:15897:1">Flexium Interconnect (6269 TT)</a>. </p>
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<p>The largest short positions as a percentage of free float are <a href="https://www.smartkarma.com/entities/young-optics-inc" target="_blank" rel="noopener" data-smartkarma-citation="entities:7295:1">Young Optics (3504 TT)</a>, <a href="https://www.smartkarma.com/entities/precision-silicon-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:18158:1">Precision Silicon (3016 TT)</a>, <a href="https://www.smartkarma.com/entities/walsin-technology-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:11084:1">Walsin Technology (2492 TT)</a> and <a href="https://www.smartkarma.com/entities/taisol-electronics-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:7383:1">Taisol Electronics (3338 TT)</a> while the large cap stocks with the highest days to cover are <a href="https://www.smartkarma.com/entities/china-synthetic-rubber" target="_blank" rel="noopener" data-smartkarma-citation="entities:2403:1">China Synthetic Rubber (2104 TT)</a>, <a href="https://www.smartkarma.com/entities/au-optronics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:6704:1">Au Optronics (2409 TT)</a>, <a href="https://www.smartkarma.com/entities/yulon-motor-company" target="_blank" rel="noopener" data-smartkarma-citation="entities:18249:1">Yulon Motor Company (2201 TT)</a> and <a href="https://www.smartkarma.com/entities/tatung-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:3458:1">Tatung Co Ltd (2371 TT)</a>. </p>
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<p>We also look at the stock performance on names that have the highest short interest as a percentage of free float.</p>
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Total short notional in Taiwan stocks is TWD 255,251 mm (~US$8.40 bn) as of 8 November.


Over the week, the largest short positions were put on in Taiwan Semiconductor Manufacturing Company (TSMC) (2330 TT), Realtek Semiconductor (2379 TT), Evergreen Marine Corp (2603 TT) and Largan Precision (3008 TT) and shorts were covered in Yageo Corporation (2327 TT), Catcher Technology (2474 TT), Nan Ya Plastics (1303 TT) and Flexium Interconnect (6269 TT). 


The largest short positions as a percentage of free float are Young Optics (3504 TT), Precision Silicon (3016 TT), Walsin Technology (2492 TT) and Taisol Electronics (3338 TT) while the large cap stocks with the highest days to cover are China Synthetic Rubber (2104 TT), Au Optronics (2409 TT), Yulon Motor Company (2201 TT) and Tatung Co Ltd (2371 TT). 


We also look at the stock performance on names that have the highest short interest as a percentage of free float.


Taiwan - Most Shorted Stocks to Free Float

Taiwan

TaiSol Electronics Co Ltd designs and manufactures electronics thermal cooling and flash media connector solutions.

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