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Jun 12 6 tweets 3 min read Twitter logo Read on Twitter
🧵Smartkarma #bottomup #threadoftheday

Taiwan Dual-Listings: TSMC Spread Opens Again for Opportunity; Others Have Swung Substantially
— Vincent Fernando, CFA


1/ Image
TSMC is back to an 11.8% ADR premium after dropping to 8%... potentially another good Long/Short point.

2/ Image
UMC has flipped to a -0.6% ADR discount, from a 5.6% Premium. If the discount ticks slightly more negative then a good setup level will open up.

3/ Image
ASE, ChipMOS, and CHT spreads have also experienced significant swings since our last dual-listings piece.

4/ Image
In Conclusion:

"TSMC's spread has fallen and then spiked again. ASE, ChipMOS, and CHT spreads have also experienced significant swings since our last dual-listings piece." — Vincent Fernando, CFA

5/ Image
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1/ Image
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2/ Image
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