Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX Stocks as of Apr 26th which has an aggregated holding worth USD522.3bn.</li>
<li>We estimate that foreign flows to be inflows of USD843mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in Ecopro, Hyundai Motor, Krafton, Sk Hynix, Samsung Electronics, Hanmi Semicon.</li>
</ul>


We analyzed the changes in foreign holdings of KRX Stocks as of Apr 26th which has an aggregated holding worth USD522.3bn.
We estimate that foreign flows to be inflows of USD843mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Ecopro, Hyundai Motor, Krafton, Sk Hynix, Samsung Electronics, Hanmi Semicon.


KRX Foreign Holding Weekly (Apr 26th): Ecopro, Hyundai Motor, Krafton, Sk Hynix, Samsung Electronics

<ul>
<li>We analyzed the changes in foreign holdings of KRX Stocks as of Apr 12th which has an aggregated holding worth USD534.3bn.</li>
<li>We estimate that foreign flows to be inflows of USD1,200mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in Samsung Electronics, Hyundai Motor, Sk Hynix.</li>
</ul>


We analyzed the changes in foreign holdings of KRX Stocks as of Apr 12th which has an aggregated holding worth USD534.3bn.
We estimate that foreign flows to be inflows of USD1,200mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Samsung Electronics, Hyundai Motor, Sk Hynix.


KRX Foreign Holding Weekly (Apr 12th): Samsung Electronics, Hyundai Motor, Sk Hynix

<ul>
<li>We analyzed the changes in foreign holdings of KRX Stocks as of Mar 22nd which has an aggregated holding worth USD546.4bn.</li>
<li>We estimate that foreign flows to be inflows of USD1,746mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight foreign changes in Samsung Electronics, Hyundai Motor, Sk Hynix, Kia, Posco, Naver.</li>
</ul>


We analyzed the changes in foreign holdings of KRX Stocks as of Mar 22nd which has an aggregated holding worth USD546.4bn.
We estimate that foreign flows to be inflows of USD1,746mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Samsung Electronics, Hyundai Motor, Sk Hynix, Kia, Posco, Naver.


KRX Foreign Holding Weekly (Mar 22nd): Samsung Electronics, Hyundai Motor, Sk Hynix, Kia, Posco

<ul>
<li>We analyzed the changes in short interest of KRX Stocks as of Feb 23rd which has an aggregated short interest worth USD7.7bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest weekly changes in Posco Holdings, Rotem.</li>
</ul>


We analyzed the changes in short interest of KRX Stocks as of Feb 23rd which has an aggregated short interest worth USD7.7bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest weekly changes in Posco Holdings, Rotem.


KRX Short Interest Weekly (Feb 23rd): Posco Holdings, Rotem

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/samsung-kodex-fn-top10-equal-weight-etf" target="_blank" data-smartkarma-citation="entities:40203:1" rel="noopener">Samsung KODEX Fn Top10 Equal Weight ETF (395170 KS)</a> tracks the FnGuide Top 10 Equal Weight Index and has an AUM of US$241m.</li>
<li>We expect <a href="https://www.smartkarma.com/entities/celltrion-inc" target="_blank" data-smartkarma-citation="entities:991:1" rel="noopener">Celltrion Inc (068270 KS)</a> will replace <a href="https://www.smartkarma.com/entities/samsung-sdi-co-ltd" target="_blank" data-smartkarma-citation="entities:503:1" rel="noopener">Samsung SDI (006400 KS)</a> in the index at the March rebalance.</li>
<li>There will be 0.26x ADV to buy in <a href="https://www.smartkarma.com/entities/celltrion-inc" target="_blank" data-smartkarma-citation="entities:991:1" rel="noopener">Celltrion Inc (068270 KS)</a> while passives will need to sell 0.17x ADV of <a href="https://www.smartkarma.com/entities/samsung-sdi-co-ltd" target="_blank" data-smartkarma-citation="entities:503:1" rel="noopener">Samsung SDI (006400 KS)</a>. </li>
</ul>


The Samsung KODEX Fn Top10 Equal Weight ETF (395170 KS) tracks the FnGuide Top 10 Equal Weight Index and has an AUM of US$241m.
We expect Celltrion Inc (068270 KS) will replace Samsung SDI (006400 KS) in the index at the March rebalance.
There will be 0.26x ADV to buy in Celltrion Inc (068270 KS) while passives will need to sell 0.17x ADV of Samsung SDI (006400 KS). 


FnGuide Top10 Equal Weight Index Rebalance Preview: Celltrion Could Replace Samsung SDI

South Korea

Alteogen Inc. is a pharmaceutical research company.  The Company researches and develops bio-medicines such as bio-better and bio-similar.

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Alteogen Inc (196170 KS)

KRX Foreign Holding Weekly (Apr 26th): Ecopro, Hyundai Motor, Krafton, Sk Hynix, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Ecopro, Hyundai Motor, Krafton, Sk Hynix, Samsung...

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Apr 12th): Samsung Electronics, Hyundai Motor, Sk Hynix

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics, Hyundai Motor, Sk Hynix.

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Mar 22nd): Samsung Electronics, Hyundai Motor, Sk Hynix, Kia, Posco

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics, Hyundai Motor, Sk Hynix,...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Feb 23rd): Posco Holdings, Rotem

We analyzed KRX short interest report for the past week and highlighted short interest changes in Posco Holdings, Rotem.

Ke Yan, CFA, FRM

FnGuide Top10 Equal Weight Index Rebalance Preview: Celltrion Could Replace Samsung SDI

Celltrion could replace Samsung SDI in the FnGuide Top10 Equal Weight index at the March rebalance. There could be a second change depending on...

Brian Freitas

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