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 foreign holdings of TWSE Stocks as of Jun 18th. The aggregated holding was USD2,322.4bn.</li>
<li>We estimate that foreign flows to be inflows of USD2,726mln. 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 Nanya Technology, Powerchip Semiconductor Manufacturing, Global Unichip, MediaTek, ASE Industrial.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 18th. The aggregated holding was USD2,322.4bn.
We estimate that foreign flows to be inflows of USD2,726mln. 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 Nanya Technology, Powerchip Semiconductor Manufacturing, Global Unichip, MediaTek, ASE Industrial.


TWSE Foreign Holding Weekly (Jun 18th): Nanya Technology, Powerchip Semiconductor Manufacturing

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

China (MSCI China, Shanghai Comp., Shenzhen A Share) continues to offer many attractive setups and is a major focus in today’s EM Strategy report. Additionally, Taiwan (TAIEX) continues to be worthy of an overweight within the EM universe with the RS uptrend intact. We highlight several attractive set ups.

China (MSCI China, Shanghai Comp., Shenzhen A Share) continues to offer many attractive setups and is a major focus in today’s EM Strategy report. Additionally, Taiwan (TAIEX) continues to be worthy of an overweight within the EM universe with the RS uptrend intact. We highlight several attractive set ups.

EM Strategy and Chartbook: Remain Overweight EM Vs. EAFE

Global Special Situations & Strategy, SR Services Ltd

David Lepper

Global Special Situations & Strategy

SR Services Ltd

SR Services provides Strategic Knowledge and Solutions services for Family Offices and Corporate Business. 

We deliver this via advisory services, strategic planning, opportunity analysis/sourcing, as well as solution implementation. 

Whilst, we create intellectual discipline and operational leverage for your projects or daily activities, our ultimate objective is to empower whilst enhancing your decision making. 

Strategic Knowledge and Solutions

Cross Asset Strategy

<ul>
<li>
Deteriorating credit metrics continue to support our view that the level of risk is increasing within the small-mid cap universe. </li>
<li>
Our screen looks for high valuation multiples presented by candidates with significant earnings growth forecasts, as well as financial indicators that suggest balance sheet distress. Therefore, with the credit markets pointing towards high yield stress, this screen becomes highly relevant.</li>
<li>
15 stocks appear in our Q2 2020 screen. The average stock rank in our list has decreased to 67.5 from 72.1 points since early March 2019. The reduction reflects some of the continued bearish moves in recent weeks within the Asian Universe. We, therefore, feel, as highlighted in other recent commentary, that the market is currently undergoing a defined separation of Quality, Value and relative Momentum.</li>
</ul>



Deteriorating credit metrics continue to support our view that the level of risk is increasing within the small-mid cap universe. 

Our screen looks for high valuation multiples presented by candidates with significant earnings growth forecasts, as well as financial indicators that suggest balance sheet distress. Therefore, with the credit markets pointing towards high yield stress, this screen becomes highly relevant.

15 stocks appear in our Q2 2020 screen. The average stock rank in our list has decreased to 67.5 from 72.1 points since early March 2019. The reduction reflects some of the continued bearish moves in recent weeks within the Asian Universe. We, therefore, feel, as highlighted in other recent commentary, that the market is currently undergoing a defined separation of Quality, Value and relative Momentum.


Screening the Silk Road: Q2 2020 Small-Mid Cap High Risk Names to Avoid

Equity Capital Markets

Wus Printed Circuit (Kunshan) Co,Ltd. / Equity Capital Markets

Wus Printed Circuit (Kunshan) Co,Ltd. (002463 CH)

<ul>
<li>WUS Printed Circuit is seeking an A+H listing. CICC and HSBC are the sponsors.</li>
<li>We look at the company's core segments: data communications and smart vehicles.</li>
<li>We discussed our preliminary thoughts on the company's fair value based on A-H premium.</li>
</ul>


WUS Printed Circuit is seeking an A+H listing. CICC and HSBC are the sponsors.
We look at the company's core segments: data communications and smart vehicles.
We discussed our preliminary thoughts on the company's fair value based on A-H premium.


WUS Printed Circuit (沪电股份) A+H Pre-IPO: Early Thoughts

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 12th. The aggregated holding was USD2,215.6bn.</li>
<li>We estimate that foreign flows to be outflows of USD9,356mln. 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, MediaTek, Yageo, Quanta Computer, Delta Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 12th. The aggregated holding was USD2,215.6bn.
We estimate that foreign flows to be outflows of USD9,356mln. 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, MediaTek, Yageo, Quanta Computer, Delta Electronics.


TWSE Foreign Holding Weekly (Jun 12th): TSMC, MediaTek, Yageo, Quanta Computer, Delta Electronics

Taiwan

Unimicron Technology Corp. manufactures and markets double-sided and multi-layer printed circuit boards.  The Company also provides integrated circuits (IC) burning and testing services.

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Unimicron Technology (3037 TT)

TWSE Foreign Holding Weekly (Jun 18th): Nanya Technology, Powerchip Semiconductor Manufacturing

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Nanya Technology, Powerchip Semiconductor...

Ke Yan, CFA, FRM

EM Strategy and Chartbook: Remain Overweight EM Vs. EAFE

China (MSCI China, Shanghai Comp., Shenzhen A Share) continues to offer many attractive setups and is a major focus in today’s EM Strategy report....

Vermilion Research

Screening the Silk Road: Q2 2020 Small-Mid Cap High Risk Names to Avoid

Deteriorating credit metrics continue to support our view that the level of risk is increasing within the small-mid cap universe. Our screen...

David Lepper

WUS Printed Circuit (沪电股份) A+H Pre-IPO: Early Thoughts

WUS Printed Circuit is seeking an A+H listing. In this note, we look at the company's business, its industry context and provide our early thought...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Jun 12th): TSMC, MediaTek, Yageo, Quanta Computer, Delta Electronics

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, MediaTek, Yageo, Quanta Computer, Delta...

Ke Yan, CFA, FRM

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52-week Range

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