FINIs
* 33% of US$7.5bn turnover in 4 names. Narrow and getting more narrow
* FPG 1301 +US$104mm. After that small buying.
* Catcher 2474 +1.9% of company. Wintek 2384 another +1.6%. FINIs keep buying Wintek.
* Unimicron 3037 bashed -2.38% sold.
* Previously hot names HTC 2498 Mediatek 2454 HH 2317 all seeing better selling. US$7.5bn for the week with limited action.
ITCs
* Top buy 1704 +$19mm. This is a big bet in this environment.
* Selling HTC 2498 -$22mm and Unimicron 3037 -$22mm. Bad news in Unimicron is in market.
* Total trading of US$900mm, w/ a low bias towards the sell side.
Local Prop
* Buying Unimicron 3037 +4.6mm w/ decent bias 48. 1704 bought w/ ITCs, as well as other petrochem names.
* Selling of Wintek 2384 and HH 2317, but nothing aggressive.
* Total volume $1.3bn, slightly better sellers.
IRP L/S Picks
1. Autos 汽車類指數
2. Cable 電器電纜類指數
3. Textile 紡織纖維類指數
IRP Long Only Picks
1. Autos 汽車類指數
2. Consumer 貿易百貨類指數
3. Tourism 觀光類指數

FINIs
* 33% of US$7bn turnover in 4 names. Still focused on a handful of names.
* No bias significantly greater than -+50 Novatek 3034 +$26mm, Inotera 3474 -$18mm.
* Selling of Mediatek 2454 increased, other names bought.
*Other than HH 2317 +$102mm, Mediatek 2454 -$217mm, only significant move was another 1.5% of Wintek 2384 bought

ITCs
* Twn Fertilizer 1722 +$33m. Major buy of the week bias 97.
* No other buy/sell exceeding $14mm +-
* Slightly increased volume close to $1bn.

Local Prop
* No major buy/sell bias in either direction
* $1.5bn, no aggressive moves greater than $10mm into any name.
* Slight bias in HH 2317 +25, following FINIs

IRP L/S Picks
1 Autos 汽車類指數
2 Consumer 貿易百貨類指數
3 Tourism 觀光類指數

IRP Long Only Picks
1. Autos 汽車類指數
2. Consumer 貿易百貨類指數
3. Tourism 觀光類指數

FINIs
* 33% of US$5bn turnover in 4 names. Even more narrow
* No bias significantly greater than 50. Hon Hai 2317 top buy $120mm, then tailing off.
* Selling of major tech names Mediatek 2454/TSMC 2330 and HTC 2498, but again conviction low.
* Local fav Wintek 2384 bought. +3.4% of the company. Mediatek 2454 saw -1.5% of company sold.

ITCs
* Epistar 2448 $42mm, heavy favorite.
* Other names like GET 3519 seeing big moves +4.7% of company.
* Volume light at $780mm, with no moves into other names.

Local Prop
* Bot $10mm HTC 2498, remaining bullish.
* Epistar 2448 US$-8mm. Scalping ITCs
* Very neutral bias in other names

IRP L/S Picks
1 Autos 汽車類指數
2 Consumer 貿易百貨類指數
3 Tourism 觀光類指數

IRP Long Only Picks
1 Autos 汽車類指數
2 Consumer 貿易百貨類指數
3 Tourism 觀光類指數

Expectations of increased consumer spending, either from local consumers or mythical China Tourists.