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 5th. The aggregated holding was USD2,282.9bn.</li>
<li>We estimate that foreign flows to be outflows of USD3,589mln. 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, UMC, Quanta Computer, MediaTek, Winbond Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Jun 5th. The aggregated holding was USD2,282.9bn.
We estimate that foreign flows to be outflows of USD3,589mln. 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, UMC, Quanta Computer, MediaTek, Winbond Electronics.


TWSE Foreign Holding Weekly (Jun 5th): TSMC, UMC, Quanta Computer, MediaTek, Winbond Electronics

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 are 18 adds and 18 deletes for the TIP Customized Taiwan Select High Dividend Index in June. The TIP Taiwan Select High Dividend ETF has an AUM of US$16.9bn.</li>
<li>The ETF has started trading the stocks and is expected to continue trading for the next 7 trading days.</li>
<li>The adds are outperforming the deletes today and that trend could continue for the next few days as the ETF trades the stocks.</li>
</ul>


There are 18 adds and 18 deletes for the TIP Customized Taiwan Select High Dividend Index in June. The TIP Taiwan Select High Dividend ETF has an AUM of US$16.9bn.
The ETF has started trading the stocks and is expected to continue trading for the next 7 trading days.
The adds are outperforming the deletes today and that trend could continue for the next few days as the ETF trades the stocks.


TIP Customized Taiwan Select High Dividend Index Rebalance: US$13.6bn Trade over the Next Week

<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

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

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.

Equity Capital Markets

Powerchip Semiconductor Manufa / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/powerchip-semiconductor-manufa" target="_blank" data-smartkarma-citation="entities:35299:1" rel="noopener">Powerchip Semiconductor Manufacturing (6770 TT)</a> is looking to raise around US$800m in its upcoming global depository receipts (GDR) offering.</li>
<li>Powerchip Semiconductor Manufacturing (PSMC) is a Taiwanese semiconductor foundry focused on memory chips, specialty DRAM and wafer fabrication services for logic and mixed-signal ICs.</li>
<li>Similar to previous GDR listings, the deal is a drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.</li>
</ul>



Powerchip Semiconductor Manufacturing (6770 TT) is looking to raise around US$800m in its upcoming global depository receipts (GDR) offering.
Powerchip Semiconductor Manufacturing (PSMC) is a Taiwanese semiconductor foundry focused on memory chips, specialty DRAM and wafer fabrication services for logic and mixed-signal ICs.
Similar to previous GDR listings, the deal is a drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.


Aequitas: Powerchip Semiconductor Manufacturing GDR Early Look - Well Flagged US$800m GDR Offering

<ul>
<li>
<a href="https://www.smartkarma.com/entities/quanta-computer-inc" target="_blank" data-smartkarma-citation="entities:2754:1" rel="noopener">Quanta Computer (2382 TT)</a> is looking to raise around US$2.7bn in its upcoming global depository receipts (GDRs) offering.</li>
<li>Quanta Computer Inc. (QCI) is a Taiwan-based electronics and computer hardware manufacturer founded in 1988, best known as one of the world’s largest original design manufacturers for laptops and servers.</li>
<li>Similar to previous GDR listings, the deal is a drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.</li>
</ul>



Quanta Computer (2382 TT) is looking to raise around US$2.7bn in its upcoming global depository receipts (GDRs) offering.
Quanta Computer Inc. (QCI) is a Taiwan-based electronics and computer hardware manufacturer founded in 1988, best known as one of the world’s largest original design manufacturers for laptops and servers.
Similar to previous GDR listings, the deal is a drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops.


Aequitas: Quanta Computer Inc GDR Early Look - Another Well Flagged US$2.7bn GDR Offering

Taiwan

WT Microelectronics Co., Ltd. develops and markets integrated circuits (IC) products.  The Company's products include linear IC, applied IC, admixture semaphore IC, logic IC, image detecting IC, and memory IC.  Wintech acts as an agent for Texas Instruments, Fairchild, ST Microelectronics, Marvell, Wolfson, and Bowoon.

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WT Microelectronics (3036 TT)

TWSE Foreign Holding Weekly (Jun 5th): TSMC, UMC, Quanta Computer, MediaTek, Winbond Electronics

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

Ke Yan, CFA, FRM

TIP Customized Taiwan Select High Dividend Index Rebalance: US$13.6bn Trade over the Next Week

There are 18 adds and 18 deletes for the index. Estimated one-way turnover is 40.6% resulting in a round-trip trade of US$13.6bn. Adds are...

Brian Freitas

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

Aequitas: Powerchip Semiconductor Manufacturing GDR Early Look - Well Flagged US$800m GDR Offering

Powerchip Semiconductor Manufacturing (6770.TT) is looking to raise around US$800m in its upcoming GDR offering. On 28th Apr'26, it announced its...

Akshat Shah

Aequitas: Quanta Computer Inc GDR Early Look - Another Well Flagged US$2.7bn GDR Offering

Quanta Computer Inc. (2382.TT) is looking to raise around US$2.7bn in its upcoming GDRs offering. On 26th Feb 2026, it announced its board’s...

Akshat Shah

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