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 10th which has an aggregated holding worth USD633.0bn.</li>
<li>We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.</li>
<li>We estimate that foreign flows to be inflows of USD512mln and highlight foreign changes in TSMC, Taiwan Cement, Wistron.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Nov 10th which has an aggregated holding worth USD633.0bn.
We tabulate league table for top changes by value for 1 week, one 4 weeks, 1 year and top stocks held by foreign instutions by dollar value.
We estimate that foreign flows to be inflows of USD512mln and highlight foreign changes in TSMC, Taiwan Cement, Wistron.


TWSE Foreign Holding Weekly (Nov 10th): TSMC, Taiwan Cement, Wistron

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Nov 10th which has an aggregated short interest worth USD14.4bn.</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 Alchip Tech, Gigabyte Tech, Gold Circuit, Taiwan Cement, Ap Memory Tech, Hon Hai.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Nov 10th which has an aggregated short interest worth USD14.4bn.
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 Alchip Tech, Gigabyte Tech, Gold Circuit, Taiwan Cement, Ap Memory Tech, Hon Hai.


TWSE Short Interest Weekly (Nov 10th): Alchip Tech, Gigabyte Tech, Gold Circuit, Taiwan Cement

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Nov 3rd which has an aggregated short interest worth USD14.3bn.</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 Alchip Tech, Via Tech, Wiwynn, Taiwan Cement, Wistron, Century Iron.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Nov 3rd which has an aggregated short interest worth USD14.3bn.
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 Alchip Tech, Via Tech, Wiwynn, Taiwan Cement, Wistron, Century Iron.


TWSE Short Interest Weekly (Nov 3rd): Alchip Tech, Via Tech, Wiwynn, Taiwan Cement, Wistron

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Apr 7th which has an aggregated short interest worth USD12.1bn.</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 Makalot, Getac Holdings, Via Tech.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Apr 7th which has an aggregated short interest worth USD12.1bn.
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 Makalot, Getac Holdings, Via Tech.


TWSE Short Interest Weekly (Apr 7th): Makalot, Getac, Via Tech

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

<ul>
<li>Total short interest in Hong Kong is HK$435.1bn, marginally higher from end-December. Short notional has moved in line with the <a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899:1" rel="noopener">Hong Kong Hang Seng Index (HSI INDEX)</a>. </li>
<li>Total short notional of the KOSPI and KOSDAQ market has moved up since end-December and is in line with the move higher in the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200-index" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">KOSPI2 INDEX</a> and <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index</a>.</li>
<li>Short notional in Taiwan is lower over the quarter even as the <a href="https://www.smartkarma.com/entities/taiwan-stock-exchange-weighted-index" target="_blank" data-smartkarma-citation="entities:26056:1" rel="noopener">TWSE INDEX</a> has moved higher over the period. There has been big short covering on some stocks.</li>
</ul>


Total short interest in Hong Kong is HK$435.1bn, marginally higher from end-December. Short notional has moved in line with the Hong Kong Hang Seng Index (HSI INDEX). 
Total short notional of the KOSPI and KOSDAQ market has moved up since end-December and is in line with the move higher in the KOSPI2 INDEX and KOSDAQ 150 Index.
Short notional in Taiwan is lower over the quarter even as the TWSE INDEX has moved higher over the period. There has been big short covering on some stocks.


Short Interest Movements (Q1 2023): HK, Korea, Taiwan, Australia

Taiwan

Via Technologies Inc. designs, manufactures, and markets integrated chipsets for PC (Personal Computer) motherboards.  The Company's products include core logic and peripheral controller chips.

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Via Technologies (2388 TT)

TWSE Foreign Holding Weekly (Nov 10th): TSMC, Taiwan Cement, Wistron

We analyzed TWSE foreign holding data for the past week and highlight foreign holding changes in TSMC, Taiwan Cement, Wistron.

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Nov 10th): Alchip Tech, Gigabyte Tech, Gold Circuit, Taiwan Cement

We analyzed TWSE short interest report for the past week and highlight short interest changes in Alchip Tech, Gigabyte Tech, Gold Circuit, Taiwan...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Nov 3rd): Alchip Tech, Via Tech, Wiwynn, Taiwan Cement, Wistron

We analyzed TWSE short interest report for the past week and highlight short interest changes in Alchip Tech, Via Tech, Wiwynn, Taiwan Cement,...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Apr 7th): Makalot, Getac, Via Tech

We analyzed TWSE short interest report for the past week and highlight short interest changes in Makalot, Getac Holdings, Via Tech.

Ke Yan, CFA, FRM

Short Interest Movements (Q1 2023): HK, Korea, Taiwan, Australia

The Insight looks at movements in short interest across HK, Korea, Taiwan and Australia stocks over Q1 and highlights large increases/decreases in...

Brian Freitas

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