In today’s briefing:
- Taiwan Dual-Listings Monitor: TSMC High Premium Persisting, Record Short Interest in Local
- Monash IVF (MVF AU): Embroiled in Embryo Bungle; Will the Growth Baby Be Delivered?
- Bright Smart (1428 HK): Bright and Smart FY25
- Samsung F&M (000815 KS) Vs. Woori (316140 KS): No Mean Reversion (Yet), Time to Reassess the Pair
- UCO Bank (UCO IN) Vs. Indian Overseas Bank (IOB IN): Trade Closed as Mean Reversion Hits Target
- PointsBet Holdings Ltd – The Monday Report – 30 June 2025
- Silvercorp Metals (TSX/NYSEAM: SVM): Diversified Growth with Compelling Valuation
Taiwan Dual-Listings Monitor: TSMC High Premium Persisting, Record Short Interest in Local
- TSMC: +23.4% Premium; Consider Shorting ADR Spread at Current Level; Record Short Interest in Local
- UMC: +1.1% Premium; Wait for More Extreme Premium to Short
- ASE: +2.9% Premium; Near Level to Go Long the ADR Spread
Monash IVF (MVF AU): Embroiled in Embryo Bungle; Will the Growth Baby Be Delivered?
- Monash IVF (MVF AU) announced that an incident occurred at its Brisbane clinic, where embryo of one patient was incorrectly transferred to another patient resulting in birth of a child.
- The company revised the guidance of FY25 underlying NPAT to be A$27.5M from previous A$30M–31M, announced post H1FY25 results.
- Consensus estimates predict the company’s FY26 revenue to grow marginally by 1% to A$272M and net profit to decline nearly 5%.
Bright Smart (1428 HK): Bright and Smart FY25
- Bright Smart Securities (1428 HK)‘s earnings rebounded solidly by 20.4% YoY in 2H FY25, fueled by higher client accounts and assets, and better HK market turnover.
- BSS has been an underperformer against peers since May, as other brokerage companies rallied on the back of potential entry into the virtual asset dealing business.
- Ant Financial will be able to transform BSS into a sizeable cross-asset house. The share price’s current implied earnings growth and PER valuations are conservative.
Samsung F&M (000815 KS) Vs. Woori (316140 KS): No Mean Reversion (Yet), Time to Reassess the Pair
- Context: This article provides an update on a previously identified pair trading opportunity between Samsung Fire & Marine Insuranc (000815 KS) and Woori Financial Group (316140 KS).
- Key Insights: The pair has not mean-reverted. This Insight discusses the use of a Stop Loss in a statistical pair trading context and why one might be considered at this point.
- Why Read It: For investors interested in quantitative strategies, this article demonstrates some of the mechanics of statistical arbitrage and which indicators can be used to decide on exiting a position.
UCO Bank (UCO IN) Vs. Indian Overseas Bank (IOB IN): Trade Closed as Mean Reversion Hits Target
- Context: This article provides an update on a previously identified pair trading opportunity between Uco Bank (UCO IN) and Indian Overseas Bank (IOB IN), based on statistical mean reversion analysis.
- Key Insights: The trade has now reached its exit signal as the price ratio reverted to its one-standard deviation band, yielding a positive return.
- Why Read It: For investors interested in quantitative trading strategies, this article demonstrates how statistical arbitrage can generate short-term alpha and highlights actionable similar opportunities in the current market.
PointsBet Holdings Ltd – The Monday Report – 30 June 2025
- Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead
Silvercorp Metals (TSX/NYSEAM: SVM): Diversified Growth with Compelling Valuation
- Over the last few years, Silvercorp has delivered steady revenue and earnings growth, supported by strong margins and consistent free cash flow.
- It is now expanding beyond China with the development of the El Domo copper-gold project in Ecuador and ramping up investment at Ying and Kuanping.
- Despite this growth visibility and a net cash balance sheet, the stock trades at a meaningful discount to peers across P/E, EV/EBITDA, and FCF multiples.
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