Daily Brief TMT/Internet: Softbank Group, Link Administration, Taiwan Semiconductor (TSMC) - ADR and more

In today’s briefing:

TOPIX October 2022 Rebal – Buy/Sell Baskets (May the Flow Be Ever In Your Favour)
Weekly Deals Digest (09 Oct) – Betagro, Link Admin, Tyro, MACA, Eagle Cement, O2Micro, SMG
Taiwan Tech Weekly: Our Summary of Sweeping New China Restrictions, TSMC Results This Week

TOPIX October 2022 Rebal – Buy/Sell Baskets (May the Flow Be Ever In Your Favour)

As a follow-on to TOPIX October 2022 Rebal – BIG Names with BIG Flows which discussed ¥2.1trln a side flows overall, this insight analyses and proposes intra-sector baskets.
In general, the sector-neutral BUYs vs SELLs baskets of all names where Index Shares change by 10% or more have seen BUYs sharply outperform SELLs in the past three weeks.
Look for pre-positioning unwinds so trading BUY vs SELL baskets which have bucked the trend, banks and chemicals – might be worthwhile. Otherwise, pick your spots. Use the flow.

A weekly summary of key developments across ECM and Event-Driven names tracked by us across Hong Kong, Australia, New Zealand, Singapore, Indonesia, Malaysia, Thailand, Korea, India and Chinese ADRs.
ECM developments – CALB (3931 HK)‘s weak debut. Betagro (BTG TB) will open its books for its THB17.4 billion (US$462 million) from 10 to 25 October.
Event-Driven developments – Link Administration (LNK AU), MACA Ltd (MLD AU), Tyro Payments (TYR AU), Eagle Cement Corp (EAGLE PM), O2Micro International (OIIM US), Singapore Medical (SMG SP).

AMD and Samsung preliminary numbers disappoint, PC demand weakness cited.
U.S. issues broad new rules restricting technology sales to China, essentially removing China as a long-term demand driver for advanced products.
TSMC results coming out this week, expecting all-time high revenue.

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