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

Brian Freitas

Highly experienced ex-Delta One trader with 17 years of experience trading arbitrage and related strategies across Asian markets.

Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd.

It is important to note that the information provided by Periscope Analytics is based on publicly available data and own knowledge, which has been gathered and synthesized from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions.

All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include, but are not limited to, company announcements, exchange filings, ETF and other passive investment vehicle holdings, and free float and volume data from third-party data providers. Periscope Analytics does not guarantee the accuracy and completeness of the forecasts, estimates and/or other information.

Pan-Asia Index Rebalances/ Events/ Delta One

Taiwan Short Interest - Further Increase in Shorts

Taiwan Short Interest - Largan and Innolux Diverge

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).

Cheng Shin Rubber Ind Co., Ltd. (2105 TT)

Taiwan Short Interest - Recent Jump in Positioning