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 May 23rd. The aggregated holding was USD1,015.2bn.</li>
<li>We estimate that foreign flows to be inflows 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 Bizlink, TSMC, Ctbc Financial, Yang Ming Marine, Wistron, Mediatek.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of May 23rd. The aggregated holding was USD1,015.2bn.
We estimate that foreign flows to be inflows 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 Bizlink, TSMC, Ctbc Financial, Yang Ming Marine, Wistron, Mediatek.


TWSE Foreign Holding Weekly (May 23rd): Bizlink, TSMC, Ctbc Financial, Yang Ming Marine, Wistron

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

ZIM Integrated Shipping Services / Equity Bottom-Up

<ul>
<li>Shares of container carriers have surged on expectations of a strong recovery in volume</li>
<li>But April data show pricing continued to soften despite solid North American demand</li>
<li>The carriers themselves and other industry players remain downbeat; SHORT the carriers</li>
</ul>


Shares of container carriers have surged on expectations of a strong recovery in volume
But April data show pricing continued to soften despite solid North American demand
The carriers themselves and other industry players remain downbeat; SHORT the carriers


Monthly Container Shipping Tracker | Pricing Still Weak | No Signs of a Recovery | SHORT (May 2025)

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of May 16th which has an aggregated holding worth USD1,018.6bn.</li>
<li>We estimate that foreign flows to be inflows of USD2,873mln. We tabulate the league table 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, Evergreen Marine, Yang Ming Marine, Ctbc Financial, Quanta Computer.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of May 16th which has an aggregated holding worth USD1,018.6bn.
We estimate that foreign flows to be inflows of USD2,873mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Evergreen Marine, Yang Ming Marine, Ctbc Financial, Quanta Computer.


TWSE Foreign Holding Weekly (May 16th): TSMC, Evergreen Marine, Yang Ming Marine, Ctbc Financial

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

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<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>In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the June 2025 index rebal event.</li>
<li>We expect five changes for the TDIV index and there could be index flows of US$2.5bn one-way due to capping.</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.
In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the June 2025 index rebal event.
We expect five changes for the TDIV index and there could be index flows of US$2.5bn one-way due to capping.


Quiddity Leaderboard TDIV Jun25: US$2.5bn One-Way; Several High-Impact Flow Names

Taiwan

Yang Ming Marine Transport provides transportation services and handles domestic and foreign maritime services on cargos.  The Company also operates warehouse, wharf, tug, barge, and container freight station services as well as repairs, leases, and sells containers and chassis.

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Yang Ming Marine Transport (2609 TT)

TWSE Foreign Holding Weekly (May 23rd): Bizlink, TSMC, Ctbc Financial, Yang Ming Marine, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Bizlink, TSMC, Ctbc Financial, Yang Ming Marine,...

Ke Yan, CFA, FRM

Monthly Container Shipping Tracker | Pricing Still Weak | No Signs of a Recovery | SHORT (May 2025)

Pricing remains weak, and carriers kept FY25 guidance downbeat despite decent Q125 results (and US claims of progress on tariffs). We view the...

Tracking Traffic

TWSE Foreign Holding Weekly (May 16th): TSMC, Evergreen Marine, Yang Ming Marine, Ctbc Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Evergreen Marine, Yang Ming Marine, Ctbc...

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

Quiddity Leaderboard TDIV Jun25: US$2.5bn One-Way; Several High-Impact Flow Names

Multiple inflow and outflow names have more than 5x ADV to trade. However, the shares to trade estimates can change until the base date 26th May 2025.

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

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