In today’s briefing:
- SET50 Index Rebalance Preview: Changes from Now to June
- Tencent (700 HK): Game Market Shrinks for the First Time
- China Internet Weekly (20Feb2023): Tencent, Douyin, Yunda, Dingdong
- Taiwan Dual-Listings: TSMC Premium Holding Despite Buffett Exit, UMC Discount Opens Up
SET50 Index Rebalance Preview: Changes from Now to June
- Srisawad Power 1979 (SAWAD TB) is likely to join the Stock Exchange of Thailand SET 50 Index (SET50 INDEX) in early March following the DTAC/TRUE merger.
- Then there should be one change in June with Thai Life Insurance (TLI TB) replacing Jaymart PCL (JMART TB) in the index.
- There is one stock close to failing the liquidity test and that could lead to another change with a few stocks vying for index inclusion.
Tencent (700 HK): Game Market Shrinks for the First Time
- Chinese online game revenue decreased year over year for the first time since the statistic started.
- From 2018, the Press and Publishing Administration had significantly reduced the number of new game license.
- Short video has been gradually taking time on site from online game.
China Internet Weekly (20Feb2023): Tencent, Douyin, Yunda, Dingdong
- The Chinese online game market shrank for the first time in 2022.
- Tencent’s WeChat plans to launch a cooked food delivery platform.
- Douyin dismissed 15% employees in PICO, which is Douyin’s virtual reality team.
Taiwan Dual-Listings: TSMC Premium Holding Despite Buffett Exit, UMC Discount Opens Up
- TSMC – Premium holding up despite Berkshire investment sale news. We maintain a model on the company.
- UMC – ADR now trading at a discount. Pretty clear opportunity for a reversion back to a premium.
- ChipMOS – At parity, results coming February 23rd. We maintain a model on the company.
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