Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Quantitative Analysis

We take a look at the latest TWSE data released Friday evening on short position balances in Taiwan for the week ended 23 August.Total short notional in Taiwan stocks is TWD 258,415 mm (~US$8.225 bn) and is up sharply over the last few weeks.Over the last week, the largest short positions were built in <a href="https://www.smartkarma.com/entities/novatek-microelectronics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:10904:1">Novatek Microelectronics Corp (3034 TT)</a>, <a href="https://www.smartkarma.com/entities/innolux-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:4509:1">Innolux Corp (3481 TT)</a>, <a href="https://www.smartkarma.com/entities/genius-electronic-optical-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:9632:1">Genius Electronic Optical (3406 TT)</a> and <a href="https://www.smartkarma.com/entities/china-steel-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:962:1">China Steel (2002 TT)</a>  and shorts were covered in <a href="https://www.smartkarma.com/entities/pegatron-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:12852:1">Pegatron Corp (4938 TT)</a>, <a href="https://www.smartkarma.com/entities/cmc-magnetics-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:2881:1">Cmc Magnetics (2323 TT)</a>, <a href="https://www.smartkarma.com/entities/gigabyte-technology-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:17486:1">Gigabyte Technology (2376 TT)</a> and <a href="https://www.smartkarma.com/entities/nanya-technology-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:3269:1">Nanya Technology (2408 TT)</a>.   The largest short positions as a percentage of free float are <a href="https://www.smartkarma.com/entities/young-optics-inc" target="_blank" rel="noopener" data-smartkarma-citation="entities:7295:1">Young Optics (3504 TT)</a>, <a href="https://www.smartkarma.com/entities/precision-silicon-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:18158:1">Precision Silicon (3016 TT)</a>, <a href="https://www.smartkarma.com/entities/walsin-technology-corp" target="_blank" rel="noopener" data-smartkarma-citation="entities:11084:1">Walsin Technology (2492 TT)</a> and <a href="https://www.smartkarma.com/entities/genius-electronic-optical-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:9632:1">Genius Electronic Optical (3406 TT)</a> while the large cap stocks with the highest days to cover are <a href="https://www.smartkarma.com/entities/hotai-motor-company-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:12006:1">Hotai Motor Company (2207 TT)</a>, <a href="https://www.smartkarma.com/entities/far-eastone-telecomm-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:19488:1">Far Eastone Telecomm (4904 TT)</a>, <a href="https://www.smartkarma.com/entities/shin-kong-financial-holding" target="_blank" rel="noopener" data-smartkarma-citation="entities:15351:1">Shin Kong Financial Holding (2888 TT)</a> and <a href="https://www.smartkarma.com/entities/cheng-shin-rubber-ind-co-ltd" target="_blank" rel="noopener" data-smartkarma-citation="entities:2868:1">Cheng Shin Rubber Ind Co., Ltd. (2105 TT)</a>.

We take a look at the latest TWSE data released Friday evening on short position balances in Taiwan for the week ended 23 August.Total short notional in Taiwan stocks is TWD 258,415 mm (~US$8.225 bn) and is up sharply over the last few weeks.Over the last week, the largest short positions were built in Novatek Microelectronics Corp (3034 TT), Innolux Corp (3481 TT), Genius Electronic Optical (3406 TT) and China Steel (2002 TT)  and shorts were covered in Pegatron Corp (4938 TT), Cmc Magnetics (2323 TT), Gigabyte Technology (2376 TT) and Nanya Technology (2408 TT).   The largest short positions as a percentage of free float are Young Optics (3504 TT), Precision Silicon (3016 TT), Walsin Technology (2492 TT) and Genius Electronic Optical (3406 TT) while the large cap stocks with the highest days to cover are Hotai Motor Company (2207 TT), Far Eastone Telecomm (4904 TT), Shin Kong Financial Holding (2888 TT) and Cheng Shin Rubber Ind Co., Ltd. (2105 TT).

Taiwan Short Interest - Recent Jump in Positioning

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

Despite recent deterioration, technical price and relative strength support levels continue to hold, and uptrends remain intact, for the MSCI EM index. Until this changes, we continue to view recent weakness as a buying opportunity.  The attached report is a bottoms up summary of technically attractive setups across all emerging markets and sectors.  Our screen parameters included stocks hitting a 26-week relative strength high, with a greater than 500 million market cap. Taiwan, China, and…

Despite recent deterioration, technical price and relative strength support levels continue to hold, and uptrends remain intact, for the MSCI EM index. Until this changes, we continue to view recent weakness as a buying opportunity.  The attached report is a bottoms up summary of technically attractive setups across all emerging markets and sectors.  Our screen parameters included stocks hitting a 26-week relative strength high, with a greater than 500 million market cap. Taiwan, China, and…

Taiwan

Episil-Prevision Inc. provides silicon epitaxial wafers and epitaxial services.

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Precision Silicon (3016 TT)

Taiwan Short Interest - Recent Jump in Positioning

We take a look at the latest TWSE data released Friday evening on short position balances in Taiwan for the week ended 23 August.Total short...

Brian Freitas

EM: Technical Leadership Charts & Screen

Despite recent deterioration, technical price and relative strength support levels continue to hold, and uptrends remain intact, for the MSCI EM...

Vermilion Research

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