Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Taishin Financial Holding / Index Rebalance

<ul>
<li>The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 6th June 2025.</li>
<li>There will be one ADD/DEL for T50, two ADDs/DELs for T100, and five ADDs/DELs for TDIV. </li>
<li>All of these are exactly in line with our final expectations.</li>
</ul>


The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 6th June 2025.
There will be one ADD/DEL for T50, two ADDs/DELs for T100, and five ADDs/DELs for TDIV. 
All of these are exactly in line with our final expectations.


Quiddity TDIV/50/100 Jun25 Results: 100% Hit Rate; Positioned for High-Impact Sector-Neutral Trades

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 short interest of TWSE Stocks as of May 30th. The aggregated short interest was USD23.9bn.</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 Mediatek, Cathay Financial, Ctbc Financial, TSMC, Yang Ming Marine, Tatung, Asia Vital Components.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of May 30th. The aggregated short interest was USD23.9bn.
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 Mediatek, Cathay Financial, Ctbc Financial, TSMC, Yang Ming Marine, Tatung, Asia Vital Components.


TWSE Short Interest Weekly (May 30th): Mediatek, Cathay Financial, Ctbc Financial, TSMC

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of May 30th. The aggregated holding was USD1,003.0bn.</li>
<li>We estimate that foreign flows to be outflows of USD757mln. 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 Wiwynn, Asia Vital Components, TSMC, Wistron, Asustek Computer, Cathay Financial, Mediatek, Wan Hai Lines, Ctbc Financial, UMC.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of May 30th. The aggregated holding was USD1,003.0bn.
We estimate that foreign flows to be outflows of USD757mln. 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 Wiwynn, Asia Vital Components, TSMC, Wistron, Asustek Computer, Cathay Financial, Mediatek, Wan Hai Lines, Ctbc Financial, UMC.


TWSE Foreign Holding Weekly (May 30th): Wiwynn, Asia Vital Components, TSMC, Wistron

<ul>
<li>The TDIV index tracks the top 50 names in the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.</li>
<li>Today is the base date for the final ranks and we see five ADDs and five DELs.</li>
<li>We estimate one-way flow to be around US$2.55bn with multiple expected ADDs having 10x ADV or more to trade.</li>
</ul>


The TDIV index tracks the top 50 names in the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.
Today is the base date for the final ranks and we see five ADDs and five DELs.
We estimate one-way flow to be around US$2.55bn with multiple expected ADDs having 10x ADV or more to trade.


Quiddity Leaderboard TDIV Jun25: Final Expectations; Trade Successful; New Sector-Neutral Idea

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of May 23rd. The aggregated holding was USD1,015.2bn.</li>
<li>We estimate that foreign flows to be inflows of USD826mln. 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 Bizlink, TSMC, Ctbc Financial, Yang Ming Marine, Wistron, Mediatek.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of May 23rd. The aggregated holding was USD1,015.2bn.
We estimate that foreign flows to be inflows of USD826mln. 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 Bizlink, TSMC, Ctbc Financial, Yang Ming Marine, Wistron, Mediatek.


TWSE Foreign Holding Weekly (May 23rd): Bizlink, TSMC, Ctbc Financial, Yang Ming Marine, Wistron

Taiwan

The Shanghai Commercial & Savings Bank, Ltd. provides commercial banking services with a global presence. The Bank attracts deposits from the general public and uses those funds to originate a variety of loans. SCSB supports businesses by providing trade financing and foreign exchange services.

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The Shanghai Commerical & Sa (5876 TT)

Quiddity TDIV/50/100 Jun25 Results: 100% Hit Rate; Positioned for High-Impact Sector-Neutral Trades

We expect US$2.5bn one-way flows for the TDIV index in June 2025. The top flow names have 10x ADV or more to trade. There are opportunities for...

Janaghan Jeyakumar, CFA

TWSE Short Interest Weekly (May 30th): Mediatek, Cathay Financial, Ctbc Financial, TSMC

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Mediatek, Cathay Financial, Ctbc Financial,...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (May 30th): Wiwynn, Asia Vital Components, TSMC, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Wiwynn (6669 TT), Asia Vital Components (3017...

Ke Yan, CFA, FRM

Quiddity Leaderboard TDIV Jun25: Final Expectations; Trade Successful; New Sector-Neutral Idea

There are a couple of changes to our expected ADDs list. Expected DELs remain unchanged. We see an interesting sector-neutral trade involving...

Janaghan Jeyakumar, CFA

TWSE Foreign Holding Weekly (May 23rd): Bizlink, TSMC, Ctbc Financial, Yang Ming Marine, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Bizlink, TSMC, Ctbc Financial, Yang Ming Marine,...

Ke Yan, CFA, FRM

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