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

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 7th. The aggregated holding was USD1,377.2bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,766mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Delta Electronics, MediaTek, Fubon Financial, Nanya Technology, Fubon Financial, TSMC, Delta Electronics, Mediatek, Nanya Technology.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 7th. The aggregated holding was USD1,377.2bn.
We estimate that foreign flows to be outflows of USD2,766mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Delta Electronics, MediaTek, Fubon Financial, Nanya Technology, Fubon Financial, TSMC, Delta Electronics, Mediatek, Nanya Technology.


TWSE Foreign Holding Weekly (Nov 7th): TSMC, Delta Electronics, MediaTek, Fubon Financial

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Nov 7th. The aggregated short interest was USD27.6bn.</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 Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology, Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Nov 7th. The aggregated short interest was USD27.6bn.
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 Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology, Yageo, Macronix Intl, WT Microelectronics, TSMC, Unimicron Technology.


TWSE Short Interest Weekly (Nov 7th): Yageo, Macronix Intl, WT Microelectronics, TSMC

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>TSMC: +21.8% Premium; Wait for Lower Premium Before Fresh Long</li>
<li>UMC: +2.2% Premium; Good Level to Short the ADR Premium</li>
<li>CHT: -2.0% Discount; Near Level to Go Long the ADR Spread</li>
</ul>


TSMC: +21.8% Premium; Wait for Lower Premium Before Fresh Long
UMC: +2.2% Premium; Good Level to Short the ADR Premium
CHT: -2.0% Discount; Near Level to Go Long the ADR Spread


Taiwan Dual-Listings Monitor: TSMC Premium Eases Down; UMC & CHT Opportunity Levels

Equity/Index & Cross Asset Volatility Specialist, Cameron Design

Jay Cameron

Equity/Index & Cross Asset Volatility Specialist

Cameron Design

We specialize in financial products and volatility. Our strategies balance speed, data, and risk control to capture opportunities across global markets. Our research leverages AI and data analytics to continuously refine our algorithms and adapt to evolving market dynamics.

Equity Derivatives

<ul>
<li>NVIDIA's has a strong position in the AI industry, but global trade policies introduce short-term uncertainties. Strong revenues and cash position buffer against policy-driven obstacles, particularly concerning its China revenues.</li>
<li>We highlight NVIDIA's technological leadership, including its full-stack computing infrastructure and rapid platform transitions. External pressures weigh on projected revenues, including export restrictions and increasing competition from major tech companies.</li>
<li>We see potentially overpriced implied volatility. This strategy aims to generate premium while managing risks associated with price movements, especially in the context of evolving geopolitical and competitive landscapes.</li>
</ul>


NVIDIA's has a strong position in the AI industry, but global trade policies introduce short-term uncertainties. Strong revenues and cash position buffer against policy-driven obstacles, particularly concerning its China revenues.
We highlight NVIDIA's technological leadership, including its full-stack computing infrastructure and rapid platform transitions. External pressures weigh on projected revenues, including export restrictions and increasing competition from major tech companies.
We see potentially overpriced implied volatility. This strategy aims to generate premium while managing risks associated with price movements, especially in the context of evolving geopolitical and competitive landscapes.


NVIDIA: An Options Strategy for Riding the AI Data Center Waves

<ul>
<li>TSMC Sets Sights on 3-10% Price Rises for Advanced Nodes</li>
<li>MediaTek’s Leap Into the 2nm Era -- Leading Edge Node Signals Market Leadership Ambitions</li>
<li>Mediatek 3Q25: Good News (ASIC Revenue) But Weak Margins Getting Weaker. Stock Not Attractive. </li>
</ul>


TSMC Sets Sights on 3-10% Price Rises for Advanced Nodes
MediaTek’s Leap Into the 2nm Era -- Leading Edge Node Signals Market Leadership Ambitions
Mediatek 3Q25: Good News (ASIC Revenue) But Weak Margins Getting Weaker. Stock Not Attractive. 


Taiwan Tech Weekly: Mediatek's Power Move for 2nm Chips; Yet More TSMC Pricing Power

Taiwan

Taiwan Semiconductor Manufacturing Company Ltd. manufactures integrated circuits based on its proprietary designs.  The Company offers a comprehensive set of integrated circuit fabrication processes to manufacture CMOS logic, mixed-mode, volatile and non-volatile memory and BiCMOS chips.  Taiwan Semiconductor is an affiliate of Philips Electronics N.V.

TSMC (Taiwan Semiconductor Manufacturing) - ADR (TSM US)

Price Gauge
52-week Range	0.00 - 0.00
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TSMC (Taiwan Semiconductor Manufacturing) - ADR (TSM US)

TWSE Foreign Holding Weekly (Nov 7th): TSMC, Delta Electronics, MediaTek, Fubon Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Delta Electronics (2308 TT),...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Nov 7th): Yageo, Macronix Intl, WT Microelectronics, TSMC

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Yageo (2327 TT), Macronix Intl (2337 TT), WT...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC Premium Eases Down; UMC & CHT Opportunity Levels

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

NVIDIA: An Options Strategy for Riding the AI Data Center Waves

NVIDIA 3Q26 results November 19, 2025 (CFO commentary to be posted at ~1:20 p.m. PT, followed by a limited Q&A). What to watch on earnings that...

Jay Cameron

Taiwan Tech Weekly: Mediatek's Power Move for 2nm Chips; Yet More TSMC Pricing Power

TSMC plans price increases for advanced nodes, while MediaTek aims for market leadership with leap to 2nm era but faces weak margins in 3Q25.

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TWSE Foreign Holding Weekly (Nov 7th): TSMC, Delta Electronics, MediaTek, Fubon Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Delta Electronics (2308 TT),...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Nov 7th): Yageo, Macronix Intl, WT Microelectronics, TSMC

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Yageo (2327 TT), Macronix Intl (2337 TT), WT...

Ke Yan, CFA, FRM

Taiwan Dual-Listings Monitor: TSMC Premium Eases Down; UMC & CHT Opportunity Levels

We analyze the premium and discount levels of dual-listed Taiwan companies, suggesting potential spread trading levels based on historical trends.

Vincent Fernando, CFA

NVIDIA: An Options Strategy for Riding the AI Data Center Waves

NVIDIA 3Q26 results November 19, 2025 (CFO commentary to be posted at ~1:20 p.m. PT, followed by a limited Q&A). What to watch on earnings that...

Jay Cameron

Taiwan Tech Weekly: Mediatek's Power Move for 2nm Chips; Yet More TSMC Pricing Power

​TSMC plans price increases for advanced nodes, while MediaTek aims for market leadership with leap to 2nm era but faces weak margins in 3Q25.

Vincent Fernando, CFA

TSMC plans price increases for advanced nodes, while MediaTek aims for market leadership with leap to 2nm era but faces weak margins in 3Q25.