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 short interest of TWSE Stocks as of May 16th which has an aggregated short interest worth USD22.6bn.</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 Tatung, Makalot Industrial, Wt Microelectronics, Gold Circuit Electronics.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of May 16th which has an aggregated short interest worth USD22.6bn.
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 Tatung, Makalot Industrial, Wt Microelectronics, Gold Circuit Electronics.


TWSE Short Interest Weekly (May 16th): Tatung, Makalot Industrial, Wt Microelectronics

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

AP Moeller - Maersk A/S / Equity Bottom-Up

<ul>
<li>Maersk's Q125 results slightly beat expectations, but earnings momentum continues to wane</li>
<li>Financial guidance for FY25 unchanged, but there are notable tweaks to key assumptions</li>
<li>Q125 likely carriers' best financial period of FY25 (by far), profits set to erode rest of year</li>
</ul>


Maersk's Q125 results slightly beat expectations, but earnings momentum continues to wane
Financial guidance for FY25 unchanged, but there are notable tweaks to key assumptions
Q125 likely carriers' best financial period of FY25 (by far), profits set to erode rest of year


Maersk Q125 Results: Solid Q1 Numbers | But Mgmt Retains Negative View on FY25, Citing Uncertainty

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Apr 18th which has an aggregated short interest worth USD19.1bn.</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 Yang Ming Marine, Hon Hai Precision, Global Unichip, Unimicron Technology.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Apr 18th which has an aggregated short interest worth USD19.1bn.
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 Yang Ming Marine, Hon Hai Precision, Global Unichip, Unimicron Technology.


TWSE Short Interest Weekly (Apr 18th): Yang Ming Marine, Hon Hai Precision, Global Unichip

<ul>
<li>Price momentum remains very weak, and spot rates are already below 2024 lows</li>
<li>Multiple deep-sea carriers have recently guided to a collapse in core earnings in 2025</li>
<li>USTR / MARAD proposed rule changes could add to US tariff chaos &amp; raise carriers' costs</li>
</ul>


Price momentum remains very weak, and spot rates are already below 2024 lows
Multiple deep-sea carriers have recently guided to a collapse in core earnings in 2025
USTR / MARAD proposed rule changes could add to US tariff chaos &amp; raise carriers' costs


Monthly Container Shipping Tracker | Rates Down | Chorus of Weak Guidance | USTR-MARAD (March 2025)

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Cheng Shin Rubber Ind Co., Ltd. / Index Rebalance

Cheng Shin Rubber Ind Co., Ltd. (2105 TT)

<ul>
<li>The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 7th March 2025.</li>
<li>There will be one change for T50 and two other changes for T100. There will be no changes for the TDIV index but there will be capping flows.</li>
<li>In this insight, we will take a look at our final flow expectations for the March 2025 index rebal event.</li>
</ul>


The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 7th March 2025.
There will be one change for T50 and two other changes for T100. There will be no changes for the TDIV index but there will be capping flows.
In this insight, we will take a look at our final flow expectations for the March 2025 index rebal event.


Quiddity TDIV/50/100 Mar25 Results: US$500Mn+ One-Way Flows Collectively; Only One Surprise

Taiwan

Wan Hai Lines Ltd. provides marine transportation and shipping agent services. The Company also purchases, sells, and leases vessels and containers as well as operates container freight stations.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Wan Hai Lines (2615 TT)

TWSE Short Interest Weekly (May 16th): Tatung, Makalot Industrial, Wt Microelectronics

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Tatung, Makalot Industrial, Wt Microelectronics,...

Ke Yan, CFA, FRM

Maersk Q125 Results: Solid Q1 Numbers | But Mgmt Retains Negative View on FY25, Citing Uncertainty

Maersk reported solid Q1 results on Thursday in Copenhagen, and its downbeat FY25 guidance is unchanged. That guidance implies a dramatic erosion...

Tracking Traffic

TWSE Short Interest Weekly (Apr 18th): Yang Ming Marine, Hon Hai Precision, Global Unichip

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Yang Ming Marine, Hon Hai Precision, Global...

Ke Yan, CFA, FRM

Monthly Container Shipping Tracker | Rates Down | Chorus of Weak Guidance | USTR-MARAD (March 2025)

Container rates continue to fall, and major carriers are guiding to a collapse in core margins in FY25. Proposed US rules could potentially make...

Tracking Traffic

Quiddity TDIV/50/100 Mar25 Results: US$500Mn+ One-Way Flows Collectively; Only One Surprise

Many TDIV members have more than 2x ADV to trade. Cheng Shin Rubber is the highest-impact name with 7.4x ADV to sell. We expect this name to...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)