SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>SGX welcomes 5 new Thai SDRs which allow investors to trade Thai blue-chip companies in the same way they would trade stocks listed in Singapore.</li><li>The 5 new SDRs are Advanced Info Service (SGX SDR stock code: TADD), Delta Electronics (TDED), Gulf Energy Development (TGED), Kasikornbank (TKKD) and Siam Cement Group (TSCD).</li><li>In total, the 8 Thai SDRs cover more than 40% of the SET50 benchmark and each of the 8 SDRs represent a different sector.</li></ul>

SGX welcomes 5 new Thai SDRs which allow investors to trade Thai blue-chip companies in the same way they would trade stocks listed in Singapore.The 5 new SDRs are Advanced Info Service (SGX SDR stock code: TADD), Delta Electronics (TDED), Gulf Energy Development (TGED), Kasikornbank (TKKD) and Siam Cement Group (TSCD).In total, the 8 Thai SDRs cover more than 40% of the SET50 benchmark and each of the 8 SDRs represent a different sector.

Expanded suite of 8 Thai SDRs tracking over 40% of Thailand’s SET50 Index

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 Mar 29th which has an aggregated holding worth USD3,994.1bn.</li>
<li>We estimate that foreign flows to be outflows of USD5,801mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.</li>
<li>We highlight foreign changes in Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek Semi, Lite-On Tech, Mediatek, Umc, Chicony Elec, Inventec.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 29th which has an aggregated holding worth USD3,994.1bn.
We estimate that foreign flows to be outflows of USD5,801mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.
We highlight foreign changes in Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek Semi, Lite-On Tech, Mediatek, Umc, Chicony Elec, Inventec.


TWSE Foreign Holding Weekly (Mar 29th): Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek Semi, Lite-On

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Taiwan Semiconductor (TSMC) - ADR / Equity Bottom-Up

<ul>
<li>Quanta surged with major server wins from Meta, Alphabet, and Amazon. Nanya Tech results are two weeks ahead and Intel will host a webinar this week about its Foundry business.</li>
<li>Mediatek: Accelerating Momentum in Automotive, Data Center, and AI Memory Solutions </li>
<li>Hon Hai (Foxconn): After the 50% Surge, Where Can It Go From Here? </li>
</ul>


Quanta surged with major server wins from Meta, Alphabet, and Amazon. Nanya Tech results are two weeks ahead and Intel will host a webinar this week about its Foundry business.
Mediatek: Accelerating Momentum in Automotive, Data Center, and AI Memory Solutions 
Hon Hai (Foxconn): After the 50% Surge, Where Can It Go From Here? 


Taiwan Tech Weekly: Quanta Surging on Nvidia Server Orders; Nanya Results Ahead; Intel Foundry Event

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 22nd which has an aggregated holding worth USD4,011.4bn.</li>
<li>We estimate that foreign flows to be outflows of USD4,790mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.</li>
<li>We highlight foreign changes in TSMC, Unimicron Tech, Delta Elec, Quanta Computer, Hon Hai, Evergreen Marine, Mediatek, Gigabyte Tech, Pegatron, Getac Holdings.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 22nd which has an aggregated holding worth USD4,011.4bn.
We estimate that foreign flows to be outflows of USD4,790mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.
We highlight foreign changes in TSMC, Unimicron Tech, Delta Elec, Quanta Computer, Hon Hai, Evergreen Marine, Mediatek, Gigabyte Tech, Pegatron, Getac Holdings.


TWSE Foreign Holding Weekly (Mar 22nd): TSMC, Unimicron Tech, Delta Elec, Quanta Computer, Hon Hai

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 15th which has an aggregated holding worth USD3,904.8bn.</li>
<li>We estimate that foreign flows to be outflows of USD91mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.</li>
<li>We highlight foreign changes in Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc Financial, TSMC, Evergreen Marine, Alchip Tech, Lite-On Tech, Novatek.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Mar 15th which has an aggregated holding worth USD3,904.8bn.
We estimate that foreign flows to be outflows of USD91mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign instutions.
We highlight foreign changes in Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc Financial, TSMC, Evergreen Marine, Alchip Tech, Lite-On Tech, Novatek.


TWSE Foreign Holding Weekly (Mar 15th): Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc Financial

Taiwan

Largan Precision Company Limited manufactures and markets optical lens modules and optoelectronic components. The Company offers lenses for liquid crystal display (LCD) projectors, scanners, optical mice, digital still cameras (DSCs), digital versatile discs (DVDs), light emitting diodes (LEDs), and photography mobile phones.

Jentech Precision Industrial Company Ltd. provides tooling, precision metal stamping, custom insert molding, injection molding, and assembly solutions for medical, consumer electronics, semiconductor, automotive, appliance, and micro electronic markets to a wide variety of industries.

Innolux Corporation manufactures TFT-LCD, LCD models and LCD monitors. The company also provides research, development, manufacturing and retails business.

LOTES Co., Ltd specialize in design and manufacture of connectors, CPU Socket, Coolers and Antenna for Notebook Computer, Personal Computer, Mobile electronic device and Ditial Video.

AU Optronics Corp. manufactures and markets thin film transistor-liquid crystal displays (TFT-LCDs) and plasma display panels (PDPs).  The Company sells its products in Taiwan and exports worldwide.

Elite Material Co., Ltd manufactures and markets prepared laminated cover claddings for double-sided and multi-layer printed circuit boards.

Yageo Corporation manufactures resistors and related equipment.  The Company also produces thick-film resistors which are used in downstream electronics products, and high power thin-film resistors and chip resistors which are used in aerospace, automobile, and precision electronics industries.  Through its subsidiaries, Yageo also operates a consumer goods importing business.

WPG Holdings Ltd. distributes electronic components such as central processing units, memory integrated chips (ICs), application specific standard product (ASSP) ICs, logic and linear ICs, and discrete ICs. The Company distributes for Intel, Texas Instrument, Philips, Hynix, Vishay and other IC manufacturers.

E Ink Holdings Inc. develops, manufactures, and markets thin film transistor liquid crystal displays (TFT-LCDs).  The Company's products are mainly used in mobile video systems, car navigation systems, camcorders, digitalcameras, industrial instruments, etc.

Unimicron Technology Corp. manufactures and markets double-sided and multi-layer printed circuit boards.  The Company also provides integrated circuits (IC) burning and testing services.

Samsung SDI Co., Ltd. specializes in developing Lithium Ion Battery (LIB) technology.  The Company also manufactures cathode ray tubes (CRTs) for televisions and computer monitors.  Samsung SDI also produces liquid crystal display (LCD) components and rechargeable batteries for cellular phones , personal digital assistants (PDAs), Energy Storage Systems and solar panels.

Kyocera Corporation manufacturers electronic equipment and components. The Company's products include telecommunication equipment, information equipment, optical equipment, ceramic products, semiconductor parts, chips, hybrid integrated circuits, thermal printheads, image sensors, liquid crystal displays, and connectors. Kyocera operates worldwide.

Keysight Technologies, Inc. offers electronic measurement services using wireless, modular, and software solutions.

CDW Corporation of Delaware provides information technology products and services. The Company offers hardware, software, computer peripherals, cloud computing, mobile devices, network communication, and security solutions. CDW serves business, government, education, and healthcare customers throughout North America.

NAURA Technology Group Co., Ltd. is an integrated high-tech company, which manufactures electronics equipments and components, including IC equipments, hybrid integrated circuits and combines with R&D, sales, and services.

SYNNEX Corporation provides information technology supply chain services.  The Company offers services to original equipment manufacturers and software publishers worldwide.  SYNNEX offers product distribution, related logistics services, and contract assembly.

Hangzhou Hikvision Digital Technology Co., Ltd develops, manufactures and sells video surveillance products.  The Company manufactures video and audio compression card, network hard disk video recorders, video servers, cameras, network storage, and other digital products.

Coherent Corp. designs engineered materials and optoelectronic components. The Company offers products to industrial, optical communications, military, life sciences, semiconductor equipment, and consumer markets. Coherent also manufactures semiconductor lasers and optics for high power industrial lasers, optical communications systems, datacenter connectivity, and 3D sensing.

Universal Display Corporation is a member of the United States Display Consortium.  The consortium is a cooperative industry/government effort aimed at developing an infrastructure to support a North American flat panel display infrastructure.  The Company and its partners are developing high-resolution, full color, light weight Organic Light Emitting Diode (OLED) technology.

Zebra Technologies Corporation designs and manufactures enterprise mobile computers, advanced data capture devices, such as laser, 2D and RFID scanners and readers, and specialty printers for barcode labeling and personal identification. The Company also produces WLAN products, real-time location systems, related supplies and application software.

Delta Electronics Inc. manufactures power supplies and video display products. The Company's products include switching power supplies, telecom power systems, uninterrupted power supply (UPS), variable speed alternating current (AC) monitor drives, high resolution color monitors, and projectors.  Delta also manufactures magnetic and networking components.

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Delta Electronics (2308 TT)

Expanded suite of 8 Thai SDRs tracking over 40% of Thailand’s SET50 Index

SGX welcomes 5 new Thai SDRs which allow investors to trade Thai blue-chip companies in the same way they would trade stocks listed in...

Singapore Exchange Ltd (SGX)

TWSE Foreign Holding Weekly (Mar 29th): Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek Semi, Lite-On

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Quanta Surging on Nvidia Server Orders; Nanya Results Ahead; Intel Foundry Event

Quanta sees stock surge with server wins, Mediatek accelerates expansion in automotive and data center solutions. Intel will host a webinar about...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Mar 22nd): TSMC, Unimicron Tech, Delta Elec, Quanta Computer, Hon Hai

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Unimicron Tech, Delta Elec, Quanta...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Mar 15th): Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Expanded suite of 8 Thai SDRs tracking over 40% of Thailand’s SET50 Index

SGX welcomes 5 new Thai SDRs which allow investors to trade Thai blue-chip companies in the same way they would trade stocks listed in...

Singapore Exchange Ltd (SGX)

TWSE Foreign Holding Weekly (Mar 29th): Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek Semi, Lite-On

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai, Wistron, Wiwynn, Alchip Tech, Realtek...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Quanta Surging on Nvidia Server Orders; Nanya Results Ahead; Intel Foundry Event

​Quanta sees stock surge with server wins, Mediatek accelerates expansion in automotive and data center solutions. Intel will host a webinar about...

Vincent Fernando, CFA

TWSE Foreign Holding Weekly (Mar 22nd): TSMC, Unimicron Tech, Delta Elec, Quanta Computer, Hon Hai

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC, Unimicron Tech, Delta Elec, Quanta...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Mar 15th): Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai, Quanta Computer, Qisda, Wiwynn, Ctbc...

Ke Yan, CFA, FRM

Quanta sees stock surge with server wins, Mediatek accelerates expansion in automotive and data center solutions. Intel will host a webinar about...