{"id":11773,"date":"2021-08-20T07:57:56","date_gmt":"2021-08-19T23:57:56","guid":{"rendered":"https:\/\/www.tejwin.com\/?post_type=insight&#038;p=11773"},"modified":"2024-04-23T17:52:49","modified_gmt":"2024-04-23T09:52:49","slug":"three-major-institutional-investors-3","status":"publish","type":"insight","link":"https:\/\/www.tejwin.com\/en\/insight\/three-major-institutional-investors-3\/","title":{"rendered":"Introducing Three Major Institutional Investors in Taiwan (3)"},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter\" id=\"06a2\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/03I2F6ESRG135Q-HS.jpg\" alt=\"Three Major Institutional Investors\"\/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69f4cf1a5de33\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69f4cf1a5de33\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.tejwin.com\/en\/insight\/three-major-institutional-investors-3\/#Preface\" >Preface<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.tejwin.com\/en\/insight\/three-major-institutional-investors-3\/#Highlights_of_this_article\" >Highlights of this article<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.tejwin.com\/en\/insight\/three-major-institutional-investors-3\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"4910\"><span class=\"ez-toc-section\" id=\"Preface\"><\/span>Preface<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"ff12\">In the last two articles, we\u2019ve introduced that Dealers are the investment department of a securities company. They use their own capital to invest in the stock market and cannot engage in credit transactions. Comparing Qualified Foreign Institutional Investor (  QFIIs ) and Investment Funds, Dealers have low capital levels and short operation cycles, and usually prefer more active stocks, such as popular stocks or theme stocks. Most of these stocks have small equity and have large fluctuations, and the probability of making profits is relatively high.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"1ab0\"><span class=\"ez-toc-section\" id=\"Highlights_of_this_article\"><\/span>Highlights of this article<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"a1fd\"><strong class=\"markup--strong markup--p-strong\"> <\/strong><strong>Calculation methods of Dealers\u2019 shareholding ratio<\/strong><\/p>\n\n\n\n<p id=\"6c79\">\u2728Dealers\u2019 shareholding ratio\u2728<\/p>\n\n\n\n<p id=\"ac31\">The formula for Dealers\u2019 shareholding ratio is as follows:<\/p>\n\n\n\n<p id=\"365d\"><strong>Individual stock: Dealers\u2019 shareholdings \/ Outstanding shares<\/strong><\/p>\n\n\n\n<p><strong>Industry: Dealers\u2019 holding market value \/ <strong>Total market value outstanding<\/strong><\/strong><\/p>\n\n\n\n<p>The problem that users often encounter is the calculation of the number of stocks held by the dealers. Here, we will take readers to use our TEJ Pro database to verify it. First, we can see that the algorithm for the number of stocks held by the dealers is as follows:<\/p>\n\n\n\n<p>Estimate the number of treasury stocks and stocks bought and sold every day by the dealers. The number of treasury stocks before March 2008 is provided by TWSE. However, after March 2008, the TWSE ceases to provide monthly stock quantity. Therefore, we are currently using the weekly trading volume to estimate the number of treasury stocks at the end of the month. We will use financial statements for correction every six months.<\/p>\n\n\n\n<p>It can be seen from the description that the number of stocks held by dealers is estimated from the monthly inventory and the net sell \/ buy of the dealers. Take TSMC ( 2330 ) as an example, From the figure below, we can see that on July 30, 2020, the number of stocks held by the dealers is 1,658, but on July 31, it becomes 0.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"403\" height=\"310\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/image-160.png\" alt=\"Three Major Institutional Investors\" class=\"wp-image-11774\" srcset=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/image-160.png 403w, https:\/\/www.tejwin.com\/wp-content\/uploads\/image-160-300x231.png 300w, https:\/\/www.tejwin.com\/wp-content\/uploads\/image-160-150x115.png 150w\" sizes=\"(max-width: 403px) 100vw, 403px\" \/><\/figure>\n\n\n\n<p id=\"02f2\">Users often have questions when they see the numbers. This is because at the end of the month, we will calibrate the number of stocks of Dealer Holding (Monthly)-ALL database. As shown in the figure below, it can be seen that on 2020\/7, the number of stocks is 0.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" width=\"394\" height=\"262\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/image-161.png\" alt=\"Three Major Institutional Investors\" class=\"wp-image-11776\" srcset=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/image-161.png 394w, https:\/\/www.tejwin.com\/wp-content\/uploads\/image-161-300x199.png 300w, https:\/\/www.tejwin.com\/wp-content\/uploads\/image-161-150x100.png 150w\" sizes=\"(max-width: 394px) 100vw, 394px\" \/><\/figure>\n\n\n\n<p id=\"23d5\">Therefore, on 2020\/7\/31, the number of stocks held by dealers will be calibrated to 0, and starting from 8\/1, the number of stocks will be calculated from 0 plus the daily change in net sell \/ buy.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" width=\"403\" height=\"334\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/image-162.png\" alt=\"Three Major Institutional Investors\" class=\"wp-image-11778\" srcset=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/image-162.png 403w, https:\/\/www.tejwin.com\/wp-content\/uploads\/image-162-300x249.png 300w, https:\/\/www.tejwin.com\/wp-content\/uploads\/image-162-150x124.png 150w\" sizes=\"(max-width: 403px) 100vw, 403px\" \/><\/figure>\n\n\n\n<p>As you can see from the figure above, on 8\/3 there is a number of transactions 327, the number of dealers shareholdings will be 0+327 = 327.<\/p>\n\n\n\n<p>Next is the part of the adjustment based on the financial report every six months. We can see that the number of stocks held by the dealers is 3,629 on June 29, 2020, and the number of stocks held by 6\/30 should be 3629+503 = 4132, but the number is 5,643, as shown in the figure below:<\/p>\n\n\n\n<p>Three Major Institutional Investors<\/p>\n\n\n\n<p id=\"2b80\">This is because the number will be adjusted according to financial report every six month. The number will be 5,643.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"394\" height=\"262\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/image-164.png\" alt=\"Three Major Institutional Investors\" class=\"wp-image-11782\" srcset=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/image-164.png 394w, https:\/\/www.tejwin.com\/wp-content\/uploads\/image-164-300x199.png 300w, https:\/\/www.tejwin.com\/wp-content\/uploads\/image-164-150x100.png 150w\" sizes=\"(max-width: 394px) 100vw, 394px\" \/><\/figure>\n\n\n\n<p id=\"40ee\">Here is how to check the dealers\u2019 shareholdings in the financial report. Take Yuanta Securities ( 000980 ) as an example, you can go to <a href=\"https:\/\/emops.twse.com.tw\/server-java\/t58query\" class=\"ek-link\" target=\"_blank\" rel=\"noopener\">MOPS<\/a> for inquiries. The steps are as follows:<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong class=\"markup--strong markup--p-strong\">1\ufe0f\u20e3<\/strong><strong> Enter Yuanta securities code 000980 in the Quick search bar above.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"900\" height=\"113\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/search.jpg\" alt=\"\" class=\"wp-image-22825\" srcset=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/search.jpg 900w, https:\/\/www.tejwin.com\/wp-content\/uploads\/search-300x38.jpg 300w, https:\/\/www.tejwin.com\/wp-content\/uploads\/search-150x19.jpg 150w, https:\/\/www.tejwin.com\/wp-content\/uploads\/search-768x96.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><strong class=\"markup--strong markup--p-strong\"><strong class=\"markup--strong markup--p-strong\">2\ufe0f\u20e3<\/strong><\/strong> <strong>Click on the searching result.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"237\" height=\"116\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/result-2.jpg\" alt=\"\" class=\"wp-image-22829\" srcset=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/result-2.jpg 237w, https:\/\/www.tejwin.com\/wp-content\/uploads\/result-2-150x73.jpg 150w\" sizes=\"(max-width: 237px) 100vw, 237px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><strong class=\"markup--strong markup--p-strong\">3\ufe0f\u20e3 <\/strong><strong>Click on the &#8216;Electronic Books&#8217; button.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"307\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/book-1024x307.jpg\" alt=\"\" class=\"wp-image-22831\" srcset=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/book-1024x307.jpg 1024w, https:\/\/www.tejwin.com\/wp-content\/uploads\/book-300x90.jpg 300w, https:\/\/www.tejwin.com\/wp-content\/uploads\/book-150x45.jpg 150w, https:\/\/www.tejwin.com\/wp-content\/uploads\/book-768x230.jpg 768w, https:\/\/www.tejwin.com\/wp-content\/uploads\/book.jpg 1141w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><strong class=\"markup--strong markup--p-strong\">4\ufe0f\u20e3 <\/strong><strong>You can find the most recent quarterly financial statement<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"132\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/statement-1024x132.jpg\" alt=\"\" class=\"wp-image-22833\" style=\"width:840px;height:auto\" srcset=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/statement-1024x132.jpg 1024w, https:\/\/www.tejwin.com\/wp-content\/uploads\/statement-300x39.jpg 300w, https:\/\/www.tejwin.com\/wp-content\/uploads\/statement-150x19.jpg 150w, https:\/\/www.tejwin.com\/wp-content\/uploads\/statement-768x99.jpg 768w, https:\/\/www.tejwin.com\/wp-content\/uploads\/statement.jpg 1183w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Since we are looking for the 2020 Q4 financial statement of Yuanta, which is now available in Chinese version <a href=\"https:\/\/mops.twse.com.tw\/mops\/web\/index\" class=\"ek-link\" target=\"_blank\" rel=\"noopener\">MOPS<\/a> only, we go on to demonstrate how to query on the Chinese surface. <\/p>\n\n\n\n<p class=\"has-text-align-center\" id=\"2b18\"><strong class=\"markup--strong markup--p-strong\">1\ufe0f\u20e3<\/strong><strong> Click basic information \u2014 Electronic books \u2014 Financial report.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\" id=\"f1db\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1PWuOou-pjxkJ9tdVTahkjw-3.png\" alt=\"Three Major Institutional Investors\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\" id=\"59c8\"><strong class=\"markup--strong markup--p-strong\">2\ufe0f\u20e3 Enter <strong>Yuanta<\/strong> securities code 000980 and year 109.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\" id=\"7b7a\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1CFUJANIl3j_UCwCb6lKiug-3.png\" alt=\"Three Major Institutional Investors\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\" id=\"c6a2\"><strong class=\"markup--strong markup--p-strong\">3\ufe0f\u20e3 <\/strong><strong>Click on the electronic file of the IFRS individual financial report for 2020Q2.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\" id=\"f8b0\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1Q-TODWcLfJ_Qv5yRYqv5bQ-3.png\" alt=\"Three Major Institutional Investors\"\/><\/figure>\n\n\n\n<p class=\"has-text-align-center\" id=\"2534\"><strong class=\"markup--strong markup--p-strong\">4\ufe0f\u20e3 <\/strong><strong>You can find that Yuanta have 1,021 shareholdings of TSMC.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\" id=\"e94d\"><img decoding=\"async\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/1bjcyYpviQPUKdazeqrGDPg-3.png\" alt=\"Three Major Institutional Investors\"\/><\/figure>\n\n\n\n<p>Finally, we can add up the number of TSMC shareholdings by each dealer in 2020Q2, and we can get the number of 5,643. If you are interested, you can go to other securities firms to sum up the number of shares to verify.<\/p>\n\n\n\n<p>Once we have the number of shares held by the dealers, we can calculate the shareholding ratio. The calculation method of shareholding ratio in 7\/30 is 1658\/25930380 = 0.01% and in 7\/31 is 0\/25930380 = 0%<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"520\" height=\"145\" src=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/image-165.png\" alt=\"Three Major Institutional Investors\" class=\"wp-image-11784\" srcset=\"https:\/\/www.tejwin.com\/wp-content\/uploads\/image-165.png 520w, https:\/\/www.tejwin.com\/wp-content\/uploads\/image-165-300x84.png 300w, https:\/\/www.tejwin.com\/wp-content\/uploads\/image-165-150x42.png 150w\" sizes=\"(max-width: 520px) 100vw, 520px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"fcf0\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"480d\">In this article, we introduce the calculation method of dealers\u2019 shareholding ratio. We have completely introduced the algorithms of the respective shareholding ratios of the three major institutional investors through these three articles. Investors can use these data to understand the changes in the stock market when doing chip analysis. We hope that every reader can have a deeper understanding through our articles.<\/p>\n\n\n\n<p id=\"956a\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the last two articles, we\u2019ve introduced the three major institutional investors in Taiwan. Now we are heading to share the calculation methods of Dealers\u2019 shareholding ratio.<\/p>\n","protected":false},"featured_media":5667,"template":"","tags":[3183,2962,3016],"insight-category":[689],"class_list":["post-11773","insight","type-insight","status-publish","has-post-thumbnail","hentry","tag-chip-analysis-2","tag-market-data","tag-trading","insight-category-market-research"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight\/11773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight"}],"about":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/types\/insight"}],"version-history":[{"count":7,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight\/11773\/revisions"}],"predecessor-version":[{"id":22838,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight\/11773\/revisions\/22838"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/media\/5667"}],"wp:attachment":[{"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/media?parent=11773"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/tags?post=11773"},{"taxonomy":"insight-category","embeddable":true,"href":"https:\/\/www.tejwin.com\/en\/wp-json\/wp\/v2\/insight-category?post=11773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}