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

Index Rebalance

<ul>
<li>There could be 6 adds, 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in June as the tech rally creates multiple changes for the Yuanta/P-shares Taiwan Mid-Cap 100 ETF.</li>
<li>Constituent changes along with capping changes will lead to a one-way turnover of 26.4% and in a round-trip trade of TWD 386bn (US$12.2bn).</li>
<li>There are multiple stocks that have same-way or opposite flow from trackers of other Taiwan indices and present some interesting trading opportunities.</li>
</ul>


There could be 6 adds, 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in June as the tech rally creates multiple changes for the Yuanta/P-shares Taiwan Mid-Cap 100 ETF.
Constituent changes along with capping changes will lead to a one-way turnover of 26.4% and in a round-trip trade of TWD 386bn (US$12.2bn).
There are multiple stocks that have same-way or opposite flow from trackers of other Taiwan indices and present some interesting trading opportunities.


Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes; US$12bn Trade

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 May 29th. The aggregated holding was USD2,287.1bn.</li>
<li>We estimate that foreign flows to be inflows of USD6,743mln. 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 Hon Hai Precision, Zhen Ding Technology, Nanya Technology, Powerchip Semiconductor Manufacturing, Quanta Computer.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of May 29th. The aggregated holding was USD2,287.1bn.
We estimate that foreign flows to be inflows of USD6,743mln. 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 Hon Hai Precision, Zhen Ding Technology, Nanya Technology, Powerchip Semiconductor Manufacturing, Quanta Computer.


TWSE Foreign Holding Weekly (May 29th): Hon Hai Precision, Zhen Ding Technology, Nanya Technology

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of May 29th. The aggregated short interest was USD49.0bn.</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 Shin Kong Financial, Quanta Computer, Innolux, Delta Electronics, ASE Industrial.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of May 29th. The aggregated short interest was USD49.0bn.
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 Shin Kong Financial, Quanta Computer, Innolux, Delta Electronics, ASE Industrial.


TWSE Short Interest Weekly (May 29th): Shin Kong Financial, Quanta Computer, Innolux, ASE Industrial

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<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>Yesterday was the base date for the final ranks. We see six ADDs and five DELs for the June 2026 index rebal event.</li>
<li>We estimate one-way flow to be around US$5.6bn with many flow names having multiple days of volume 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.
Yesterday was the base date for the final ranks. We see six ADDs and five DELs for the June 2026 index rebal event.
We estimate one-way flow to be around US$5.6bn with many flow names having multiple days of volume to trade.


Quiddity Leaderboard TDIV Jun26: Final Expectations; Many High-Impact Names; Mega Outflow Names

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of May 22nd. The aggregated holding was USD2,141.3bn.</li>
<li>We estimate that foreign flows to be outflows 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 TSMC, MediaTek, UMC, Compeq Manufacturing, Unimicron Technology.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of May 22nd. The aggregated holding was USD2,141.3bn.
We estimate that foreign flows to be outflows 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 TSMC, MediaTek, UMC, Compeq Manufacturing, Unimicron Technology.


TWSE Foreign Holding Weekly (May 22nd): TSMC, MediaTek, UMC, Compeq Manufacturing

Taiwan

Winbond Electronics Corporation designs, manufactures, and sells integrated circuits (IC) and related products.  The Company sells its products in Taiwan, the United States, and Hong Kong.

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Winbond Electronics (2344 TT)

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes; US$12bn Trade

There could be 6 adds, 5 deletes and capping changes in June leading to a one-way turnover of 26.4% and in a round-trip trade of US$12.2bn. Many...

Brian Freitas

TWSE Foreign Holding Weekly (May 29th): Hon Hai Precision, Zhen Ding Technology, Nanya Technology

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai Precision (2317 TT), Zhen Ding...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (May 29th): Shin Kong Financial, Quanta Computer, Innolux, ASE Industrial

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Shin Kong Financial, Quanta Computer, Innolux,...

Ke Yan, CFA, FRM

Quiddity Leaderboard TDIV Jun26: Final Expectations; Many High-Impact Names; Mega Outflow Names

Three outflow names have more than a billion dollars to sell. Mediatek (2454 TT), United Microelectronics (2303 TT), and ASE Tech (3711 TT) have...

Janaghan Jeyakumar, CFA

TWSE Foreign Holding Weekly (May 22nd): TSMC, MediaTek, UMC, Compeq Manufacturing

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, MediaTek, UMC, Compeq Manufacturing,...

Ke Yan, CFA, FRM

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