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

TSMC (TSM.US; 2303.TT): ASP Lifting Hasn't Decided Yet; QCOM Moves Back High-End Smartphone 8 Gen 1

Vanguard (5347.TT): We Think Vanguard Can Easily Reach 1Q22 Guidance.

Novatek (3034.TT): The Growth Trend Seems Slowing Down Since 1Q22.

HDFC Bank ADR - Too High a Premium to Pay

HDFC Bank - Case of the Collapsing ADR Premium

Event-Driven

Taiwan Semiconductor (TSMC) - ADR / Event-Driven

Taiwan Semiconductor (TSMC) - ADR (TSM US)

<ul>
<li>The premium of <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-sp-adr" target="_blank" data-smartkarma-citation="entities:8587:1" rel="noopener">Taiwan Semiconductor Sp Adr (TSM US)</a> to <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-company" target="_blank" data-smartkarma-citation="entities:11230:1" rel="noopener">TSMC (2330 TT)</a> has dropped from 10% to nearly parity in slightly less than a month.</li>
<li>There is still no headroom available on the ADR and we expect the premium to move higher once the selling on the ADR is complete.</li>
<li>The SGX has recently launched single stock futures on <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-sp-adr" target="_blank" data-smartkarma-citation="entities:8587:1" rel="noopener">Taiwan Semiconductor Sp Adr (TSM US)</a>. There could be market makers willing to provide liquidity which would make trade entry easier.</li>
</ul>


The premium of Taiwan Semiconductor Sp Adr (TSM US) to TSMC (2330 TT) has dropped from 10% to nearly parity in slightly less than a month.
There is still no headroom available on the ADR and we expect the premium to move higher once the selling on the ADR is complete.
The SGX has recently launched single stock futures on Taiwan Semiconductor Sp Adr (TSM US). There could be market makers willing to provide liquidity which would make trade entry easier.


TSMC (TSM/2330 TT): Position for ADR Premium Expansion