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 Jun 16th which has an aggregated short interest worth USD15.6bn.</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 Inventec, Quanta Computer, Walsin Lihwa, Asia Vital, Sanyang Motor, Winbond Elec, Synnex Tech Intl.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Jun 16th which has an aggregated short interest worth USD15.6bn.
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 Inventec, Quanta Computer, Walsin Lihwa, Asia Vital, Sanyang Motor, Winbond Elec, Synnex Tech Intl.


TWSE Short Interest Weekly (Jun 16th): Inventec, Quanta Computer, Walsin Lihwa, Asia Vital

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Apr 14th which has an aggregated short interest worth USD12.5bn.</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 Yageo, Taiwan Cement, Mediatek, Wiwynn, Realtek Semi, Compal Elec, Cathay Financial, Chailease.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Apr 14th which has an aggregated short interest worth USD12.5bn.
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 Yageo, Taiwan Cement, Mediatek, Wiwynn, Realtek Semi, Compal Elec, Cathay Financial, Chailease.


TWSE Short Interest Weekly (Apr 14th): Yageo, Taiwan Cement, Mediatek, Wiwynn

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Mar 31st which has an aggregated short interest worth USD12.0bn.</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 Walsin Lihwa, Evergreen Marine, Yang Ming Marine, Powerchip Semico, Alchip Tech, Nan Ya Printed, Unimicron Tech.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Mar 31st which has an aggregated short interest worth USD12.0bn.
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 Walsin Lihwa, Evergreen Marine, Yang Ming Marine, Powerchip Semico, Alchip Tech, Nan Ya Printed, Unimicron Tech.


TWSE Short Interest Weekly (Mar 31st): Walsin Lihwa, Evergreen Marine, Yang Ming Marine, Powerchip

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

Event-Driven

<ul>
<li>The Yuanta/P-shares Dividend Plus ETF (0056 TT) started to rebalance its holdings on Friday and will continue to do so for the next 4 trading days.</li>
<li>Stocks with buy flows dropped 1.82% on average on Friday while the stocks with sell flows rose 1.03%. On a flow weighted basis, the numbers were -2.01% vs +1.09%.</li>
<li>Given the large volumes at auction and the large moves on stocks, we cannot rule out the possibility that a lot of pre-positions were unwound at the close on Friday.</li>
</ul>


The Yuanta/P-shares Dividend Plus ETF (0056 TT) started to rebalance its holdings on Friday and will continue to do so for the next 4 trading days.
Stocks with buy flows dropped 1.82% on average on Friday while the stocks with sell flows rose 1.03%. On a flow weighted basis, the numbers were -2.01% vs +1.09%.
Given the large volumes at auction and the large moves on stocks, we cannot rule out the possibility that a lot of pre-positions were unwound at the close on Friday.


Yuanta/P-Shares Taiwan Dividend Plus ETF: Day 1 Flows & Performance

<ul>
<li>We analyzed the changes in short interest of TWSE Stocks as of Nov 4th which has an aggregated short interest worth USD12.1bn.</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 Hon Hai, Evergreen Marine, Wan Hai Lines.</li>
</ul>


We analyzed the changes in short interest of TWSE Stocks as of Nov 4th which has an aggregated short interest worth USD12.1bn.
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 Hon Hai, Evergreen Marine, Wan Hai Lines.


TWSE Short Interest Weekly (Nov 4th): Hon Hai, Evergreen Marine, Wan Hai Lines

Taiwan

Union Bank of Taiwan accepts various deposits and provides short and medium term loans.  The Bank issues discount notes, invests in government bonds, short-term bills, corporate bonds and financial debentures, issues domestic letter of credit, and conducts savings and trust business.  Union Bank of Taiwan also provides remittance and guarantee services.

Far Eastern International Bank provides general commercial banking services. The Bank's services include commercial lending, letter of credit, banker's acceptances, checking and savings accounts, installment and term loans, foreign exchange transactions, marketable securities investments, credit card issuance, trust business, stock brokerage, and underwriting.

Taichung Commercial Bank conducts commercial banking and trust business.  The Bank accepts deposits, offers loans, as well as  invests in bonds and stocks. Taichung Commercial Banks provides bills and notes discounting, draft endorsement, domestic remittance, guarantee, and securities underwriting and brokerage services.

EnTie Commercial Bank accepts various deposits and provides short-term and medium-term loans.  The Bank discounts notes, invests in government bonds, short-term bills, corporate bonds and financial debentures, issues domestic letters of credit, and conducts savings and trust business.  EnTie also provides remittance and guarantee services.

Industrial Bank of Taiwan provides industrial banking services.

Bank of Kaohsiung acts as the municipal treasury for Kaohsiung City and conducts commercial banking operations.  The Bank accepts deposits and offers loans. Also, Bank of Kaohsiung discounts bills, invests in financial securities, and provides trust, guarantee, securities underwriting, and broking services.

Bank Of Taipei was founded in 2007. The Company's line of business includes the operation of commercial banks.

Taiwan Business Bank provides financing services to small and medium businesses. The Bank invests in government bonds, short-term bills, corporate bonds, and financial debentures.  Taiwan Business Bank also offers services of remittance, acceptance, guarantee, foreign exchange, and letter of credit.

Taishin Financial Holding Co., Ltd. is a holding company. Through its subsidiaries, the Company conducts commercial banking business, such as deposits, loans, discount bills, guarantees, remittances, and foreign exchange transactions.

Chang Hwa Commercial Bank provides a broad range of financial services.  The Bank's operations include deposits, short-term and mid-term loans, discount bills, securities brokerage, foreign currency transactions, and trust banking.

Bank of Hawaii Corporation is a regional financial services holding company with locations throughout the Pacific. The Company and its subsidiaries offers a wide range of financial services to businesses, governments, and individuals in Hawaii, the West Pacific, and American Samoa. Bank of Hawaii provides services such as commercial banking, investment and trust services, and mortgages.

Park National Corporation is a multi-bank holding company.  The Banks provide a variety of financial services, including savings and time accounts, consumer and real estate lending, safe deposit operations, and electronic funds transfers. Park National operates in Ohio.

Trustmark Corporation is the holding company for Trustmark National Bank. The Bank offers a variety of banking, investment, and insurance solutions to corporate, institutional, and individual customers in Mississippi and Tennessee.

Tisco Financial Group Pcl is a bank holding company.  The Company's banking subsidiary offers working capital, project, term, automobile and home loans; custodian services; securities brokerage; mutual funds; and private banking; and advises on equity and debt capital markets, privatizations, debt restructuring, project finance, and mergers and acquisitions.

BNK Financial Group Inc. a holding company, provides a full range of consumer and commercial banking-related financial services. The Company's main businesses include banking, trust banking, and assets management to individuals, businesses, and other financial institutions.

Saigon Thuong Tin Commercial Joint-Stock Bank, known as Sacombank, operates various personal and corporate banking services such as deposits, foreign exchange transactions, loans, outward transfer, and international payments.

Bank of Chongqing Co. Ltd. provides commercial banking services. The Company offers financial services to individuals and enterprises including deposits, loans, settlement, currency trading, financial & government bonds, and credit cards services. Bank of Chongqing also offers international services.

PT Bank Panin Indonesia Tbk provides commercial banking and foreign exchange services in Indonesia and overseas.

PT Bank Permata Tbk provides commercial and foreign exchange banking services through a network of offices in Indonesia.  The Bank also performs custodianship and trusteeship services as well as manages pension funds.

Triumph Financial Inc. offers traditional banking products as well as commercial finance products to businesses that require specialized and tailored financial solutions.

King's Town Bank accepts deposits and offers various kinds of loans. The Bank provides notes and bills discounting, collecting, guarantee, remittance, securities brokerage and financing, letter of credit, foreign exchange, and traveler checks services.

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

King's Town Bank (2809 TT)

TWSE Short Interest Weekly (Jun 16th): Inventec, Quanta Computer, Walsin Lihwa, Asia Vital

We analyzed TWSE short interest report for the past week and highlight short interest changes in Inventec, Quanta Computer, Walsin Lihwa, Asia...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Apr 14th): Yageo, Taiwan Cement, Mediatek, Wiwynn

We analyzed TWSE short interest report for the past week and highlight short interest changes in Yageo, Taiwan Cement, Mediatek, Wiwynn, Realtek...

Ke Yan, CFA, FRM

TWSE Short Interest Weekly (Mar 31st): Walsin Lihwa, Evergreen Marine, Yang Ming Marine, Powerchip

We analyzed TWSE short interest report for the past week and highlight short interest changes in Walsin Lihwa, Evergreen Marine, Yang Ming Marine,...

Ke Yan, CFA, FRM

Yuanta/P-Shares Taiwan Dividend Plus ETF: Day 1 Flows & Performance

The Yuanta/P-shares Dividend Plus ETF (0056 TT) started to rebalance its holdings on Friday and will continue to do so for the next 4 trading days....

Brian Freitas

TWSE Short Interest Weekly (Nov 4th): Hon Hai, Evergreen Marine, Wan Hai Lines

We analyzed TWSE short interest report for the past week and highlight short interest changes in Hon Hai, Evergreen Marine, Wan Hai Lines.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)