Pan-Asia Index Flows & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Pan-Asia Index Flows & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Event-Driven

Hua Nan Financial Holdings Co Ltd. / Event-Driven

<ul>
<li>The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 6th December 2024.</li>
<li>There will be one ADD/DEL for T50, five ADDs/DELs for T100, and 8 ADDs/7 DELs for TDIV. All of these are perfectly in line with our final expectations. </li>
<li>In this insight, we take a look at Quiddity's final flow expectations for the December 2024 index rebal event and potential trade ideas based on the flow dynamics.</li>
</ul>


The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 6th December 2024.
There will be one ADD/DEL for T50, five ADDs/DELs for T100, and 8 ADDs/7 DELs for TDIV. All of these are perfectly in line with our final expectations. 
In this insight, we take a look at Quiddity's final flow expectations for the December 2024 index rebal event and potential trade ideas based on the flow dynamics.


Quiddity TDIV/50/100 Dec 24 Results: 100% Hit Rate; 20x+ ADV for Many Names; US$2.3bn One-Way

United Integrated Services / Event-Driven

<ul>
<li>The T50 index represents the top 50 largest stocks by market capitalization in the Taiwan Stock Exchange (TWSE). The T100 index represents the next 100 largest names (51-150 ranks).</li>
<li>Today is the base date for the final ranks for the December 2024 index rebal event.</li>
<li>In this insight, we take a look at our final expectations for ADDs/DELs and their flow implications for the TDIV index which will also have a rebalance event in December.</li>
</ul>


The T50 index represents the top 50 largest stocks by market capitalization in the Taiwan Stock Exchange (TWSE). The T100 index represents the next 100 largest names (51-150 ranks).
Today is the base date for the final ranks for the December 2024 index rebal event.
In this insight, we take a look at our final expectations for ADDs/DELs and their flow implications for the TDIV index which will also have a rebalance event in December.


Quiddity Leaderboard T50/​​​100 Dec 24:  TDIV Exp ADD/DEL In the Money; Strong Trade Performance

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 short interest of TWSE Stocks as of Oct 18th which has an aggregated short interest worth USD20.7bn.</li>
<li>We tabulate league table 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 Ase Industrial, Asia Vital Components, Taishin Financial, Century Iron And Steel Industrial, Quanta Computer, Wistron, Via Technologies, Mediatek.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Oct 18th which has an aggregated short interest worth USD20.7bn.
We tabulate league table 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 Ase Industrial, Asia Vital Components, Taishin Financial, Century Iron And Steel Industrial, Quanta Computer, Wistron, Via Technologies, Mediatek.


TWSE Short Interest Weekly (Oct 18th): Ase Industrial, Asia Vital Components, Taishin Financial

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Sep 20th which has an aggregated short interest worth USD20.8bn.</li>
<li>We tabulate league table 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 Ase Industrial, Century Iron And Steel Industrial, Jentech Precision Industrial, Eva Airways, Shin Kong Financial, King Slide Works.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Sep 20th which has an aggregated short interest worth USD20.8bn.
We tabulate league table 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 Ase Industrial, Century Iron And Steel Industrial, Jentech Precision Industrial, Eva Airways, Shin Kong Financial, King Slide Works.


TWSE Short Interest Weekly (Sep 20th): Ase Industrial, Century Iron And Steel Industrial

<ul>
<li>The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 7th June 2024.</li>
<li>While the T50 and T100 index changes were perfectly in line with our expectations there were some surprises among the TDIV index changes.</li>
<li>In this insight, we take a look at Quiddity's final flow expectations for the June 2024 index rebal event and potential trade ideas based on the flow dynamics.</li>
</ul>


The index changes for the T50/100 index family and the TDIV index were confirmed after market close on Friday 7th June 2024.
While the T50 and T100 index changes were perfectly in line with our expectations there were some surprises among the TDIV index changes.
In this insight, we take a look at Quiddity's final flow expectations for the June 2024 index rebal event and potential trade ideas based on the flow dynamics.


Quiddity TDIV/50/100 Jun 24 Rebal: 15/18 Hits; Updated Flow Expectations and Trade Ideas

Taiwan

Century Iron & Steel Industrial Co Ltd manufactures and markets a variety of steel products.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Dividend (Yield)	0.00

Century Iron & Steel Indus (9958 TT)

Quiddity TDIV/50/100 Dec 24 Results: 100% Hit Rate; 20x+ ADV for Many Names; US$2.3bn One-Way

The TDIV Inclusions/Exclusions will be equally-distributed over five trading days from 20th December 2024 to 26th December 2024. It is a good time...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/100 Dec 24: TDIV Exp ADD/DEL In the Money; Strong Trade Performance

United Integrated Services (2404 TT) has outperformed Formosa Sumco (3532 TT) by 39% since 22nd October 2024. Now it might be time to unwind this...

Janaghan Jeyakumar, CFA

TWSE Short Interest Weekly (Oct 18th): Ase Industrial, Asia Vital Components, Taishin Financial

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Ase Industrial, Asia Vital Components, Taishin...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Sep 20th): Ase Industrial, Century Iron And Steel Industrial

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Ase Industrial, Century Iron And Steel...

Ke Yan, CFA, FRM

Quiddity TDIV/50/100 Jun 24 Rebal: 15/18 Hits; Updated Flow Expectations and Trade Ideas

We estimate one-way flow for the TDIV June 2024 rebal to be around US$1.08bn which translates to a turnover of 17%. We expect the top outflow names...

Janaghan Jeyakumar, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Quiddity TDIV/50/100 Dec 24 Results: 100% Hit Rate; 20x+ ADV for Many Names; US$2.3bn One-Way

The TDIV Inclusions/Exclusions will be equally-distributed over five trading days from 20th December 2024 to 26th December 2024. It is a good time...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/​​​100 Dec 24: TDIV Exp ADD/DEL In the Money; Strong Trade Performance

United Integrated Services (2404 TT) has outperformed Formosa Sumco (3532 TT) by 39% since 22nd October 2024. Now it might be time to unwind this...

Janaghan Jeyakumar, CFA

TWSE Short Interest Weekly (Oct 18th): Ase Industrial, Asia Vital Components, Taishin Financial

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Ase Industrial, Asia Vital Components, Taishin...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Sep 20th): Ase Industrial, Century Iron And Steel Industrial

We analyzed TWSE short interest report for the past week and highlighted short interest changes in Ase Industrial, Century Iron And Steel...

Ke Yan, CFA, FRM

Quiddity TDIV/50/100 Jun 24 Rebal: 15/18 Hits; Updated Flow Expectations and Trade Ideas

We estimate one-way flow for the TDIV June 2024 rebal to be around US$1.08bn which translates to a turnover of 17%. We expect the top outflow names...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard T50/100 Dec 24: TDIV Exp ADD/DEL In the Money; Strong Trade Performance