Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

Teco Electric & Machinery / Equity Bottom-Up

<ul>
<li>Teco Electric &amp; Machinery (1504 TT) is one of the leading companies in Taiwan that specialize in electrical machinery and industrial automation.</li>
<li>Teco Electric &amp; Machinery provides high dividend payout and solid dividend yield. From 2020 to 2023, the company's dividend payout and dividend yield averaged 72.9% and 4.6%, respectively.</li>
<li>The company is one of the beneficiaries from the need to upgrade the global energy distribution and storage networks to support the higher usage of AI in the coming years. </li>
</ul>


Teco Electric &amp; Machinery (1504 TT) is one of the leading companies in Taiwan that specialize in electrical machinery and industrial automation.
Teco Electric &amp; Machinery provides high dividend payout and solid dividend yield. From 2020 to 2023, the company's dividend payout and dividend yield averaged 72.9% and 4.6%, respectively.
The company is one of the beneficiaries from the need to upgrade the global energy distribution and storage networks to support the higher usage of AI in the coming years. 


Asian Dividend Gems: Teco Electric & Machinery

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

<ul>
<li>In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2024 index rebal event.</li>
<li>I currently see 5 ADDs and 4 DELs but some of these names are different from what we had last time (<a href="https://www.smartkarma.com/insights/quiddity-leaderboard-tdiv-dec-24-5-adds-4-dels-likely-us-1-38bn-one-way" target="_blank" rel="noopener">link</a>).</li>
<li>The current estimate for one-way flow in December 2024 is US$1.54bn.</li>
</ul>


In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2024 index rebal event.
I currently see 5 ADDs and 4 DELs but some of these names are different from what we had last time (link).
The current estimate for one-way flow in December 2024 is US$1.54bn.


Quiddity Leaderboard TDIV Dec 24: Trade Successful; +9.5% in Three Weeks; More Upside Possible.

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

<ul>
<li>Using data from the close on 15 November, there could be 6 adds and 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in December.</li>
<li>There will also be capping and funding flows that will lead to a one-way turnover of 16.9% and a one-way trade of TWD 57.5bn (US$1.77bn).</li>
<li>Short interest is at the highs in most forecast deletes, while the trend is mixed among the potential inclusions.</li>
</ul>


Using data from the close on 15 November, there could be 6 adds and 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in December.
There will also be capping and funding flows that will lead to a one-way turnover of 16.9% and a one-way trade of TWD 57.5bn (US$1.77bn).
Short interest is at the highs in most forecast deletes, while the trend is mixed among the potential inclusions.


Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade

<ul>
<li>Using data from the close on 11 October, there could be 6 adds and 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in December.</li>
<li>There will also be capping and funding flows that will lead to a one-way turnover of 15% and a one-way trade of TWD 49bn (US$1.52bn)</li>
<li>Shorts have been building up in some of the forecast deletes and in a couple of the forecast adds as well.</li>
</ul>


Using data from the close on 11 October, there could be 6 adds and 5 deletes for the Yuanta/​P-Shares Taiwan Dividend Plus ETF in December.
There will also be capping and funding flows that will lead to a one-way turnover of 15% and a one-way trade of TWD 49bn (US$1.52bn)
Shorts have been building up in some of the forecast deletes and in a couple of the forecast adds as well.


Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: Big Impact and US$3bn Round-Trip Trade

Sinopec Engineering Group H / Event-Driven

<ul>
<li>The WisdomTree Emerging Markets SmallCap Dividend Index is a fundamentally weighted index that measures the performance of small cap stocks within Emerging Markets.</li>
<li>The changes at the October rebalance were announced after market close on 4 October with implementation scheduled at the close on 16 October.</li>
<li>There are 8 trading days to implementation and there are a bunch of stocks with over 2x ADV to trade.</li>
</ul>


The WisdomTree Emerging Markets SmallCap Dividend Index is a fundamentally weighted index that measures the performance of small cap stocks within Emerging Markets.
The changes at the October rebalance were announced after market close on 4 October with implementation scheduled at the close on 16 October.
There are 8 trading days to implementation and there are a bunch of stocks with over 2x ADV to trade.


WisdomTree Emerging Markets SmallCap Dividend Index Rebalance: US$1bn to Trade

Taiwan

Teco Electric & Machinery Co., Ltd. manufactures household appliances, industrial motors, and smart cards.  The Company produces air conditioners, refrigerators, washing machines, televisions, dryers, single-phase motors, three-phase motors, inverters, rotary compressors, stepping motors, gear motors, and generators.

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Teco Electric & Machinery (1504 TT)

Asian Dividend Gems: Teco Electric & Machinery

Teco Electric & Machinery (1504 TT) is one of the beneficiaries from the need to upgrade the global energy distribution and storage networks to...

Douglas Kim

Quiddity Leaderboard TDIV Dec 24: Trade Successful; +9.5% in Three Weeks; More Upside Possible.

The base date for the TDIV Dec24 rebal is 25th December 2024 (next Monday). The trade suggested in this insight has been performing very well and...

Janaghan Jeyakumar, CFA

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade

There could be 6 adds, 5 deletes, capping and funding changes, leading to a one-way turnover of 16.9% and a round-trip trade of US$3.55bn. There...

Brian Freitas

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: Big Impact and US$3bn Round-Trip Trade

The ETF could have 6 adds and 5 deletes in Dec. There will also be capping and funding flows that will lead to a one-way turnover of 15% and a...

Brian Freitas

WisdomTree Emerging Markets SmallCap Dividend Index Rebalance: US$1bn to Trade

There are 370 adds/257 deletes for the WisdomTree Emerging Markets SmallCap Dividend Index. Round-trip trade is around US$1bn. There is big impact...

Brian Freitas

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52-week Range

Market Cap (USDm)

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Asian Dividend Gems: Teco Electric & Machinery

Teco Electric & Machinery (1504 TT) is one of the beneficiaries from the need to upgrade the global energy distribution and storage networks to...

Douglas Kim

Quiddity Leaderboard TDIV Dec 24: Trade Successful; +9.5% in Three Weeks; More Upside Possible.

The base date for the TDIV Dec24 rebal is 25th December 2024 (next Monday). The trade suggested in this insight has been performing very well and...

Janaghan Jeyakumar, CFA

Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade

There could be 6 adds, 5 deletes, capping and funding changes, leading to a one-way turnover of 16.9% and a round-trip trade of US$3.55bn. There...

Brian Freitas

Yuanta/​P-Shares Taiwan Div+ ETF Rebalance Preview: Big Impact and US$3bn Round-Trip Trade

The ETF could have 6 adds and 5 deletes in Dec. There will also be capping and funding flows that will lead to a one-way turnover of 15% and a...

Brian Freitas

WisdomTree Emerging Markets SmallCap Dividend Index Rebalance: US$1bn to Trade

There are 370 adds/257 deletes for the WisdomTree Emerging Markets SmallCap Dividend Index. Round-trip trade is around US$1bn. There is big impact...

Brian Freitas

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: 6 Adds, 5 Deletes, Capping, US$3.5bn Trade

Yuanta/P-Shares Taiwan Div+ ETF Rebalance Preview: Big Impact and US$3bn Round-Trip Trade