Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>In this insight, we discuss stocks that are highlighted in the local media as potential inclusion and exclusion candidates in the KOSPI 200 rebalance in December 2024.</li>
<li>Stocks that are expected to be included in the KOSPI 200 index include Hyosung Heavy Industries, APR, Miwon Commercial, and OCI.</li>
<li>Stocks that have been discussed as the most likely exclusion candidates in the KOSPI 200 rebalance include Lotte Tour Development, MS Industrial, Young Poong, GC Holdings, and KG Donbu Steel. </li>
</ul>


In this insight, we discuss stocks that are highlighted in the local media as potential inclusion and exclusion candidates in the KOSPI 200 rebalance in December 2024.
Stocks that are expected to be included in the KOSPI 200 index include Hyosung Heavy Industries, APR, Miwon Commercial, and OCI.
Stocks that have been discussed as the most likely exclusion candidates in the KOSPI 200 rebalance include Lotte Tour Development, MS Industrial, Young Poong, GC Holdings, and KG Donbu Steel. 


KOSPI 200 Rebalance in December 2024 Highlighted by Locals

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>The December 2024 index review results for the KOSPI Indices were announced after the close on Thursday 21st November 2024.</li>
<li>There will be four ADDs and five DELs for KOSPI 200 during the December 2024 index rebal event. </li>
<li>We predicted 8 out of 9 changes correctly. We missed one of the DELs and we expected a couple extra changes which did not materialize.</li>
</ul>


The December 2024 index review results for the KOSPI Indices were announced after the close on Thursday 21st November 2024.
There will be four ADDs and five DELs for KOSPI 200 during the December 2024 index rebal event. 
We predicted 8 out of 9 changes correctly. We missed one of the DELs and we expected a couple extra changes which did not materialize.


KOSPI200 Dec24 Rebal: 4 ADDs, 5 DELs, Big ADV on Small Stocks

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

Hyosung Heavy Industries Corp / Event-Driven

<ul>
<li>There will be 4 additions and 5 deletions for the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX)</a> at the next rebalance to be implemented at the close on 12 December.</li>
<li>The 4 adds are exactly in line with our forecast but a couple of the deletions are surprises. Those two names were close deletes though.</li>
<li>The are some large shorts on a few deletes and there could be covering over the next few weeks as borrows are recalled and as the stocks drop.</li>
</ul>


There will be 4 additions and 5 deletions for the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX) at the next rebalance to be implemented at the close on 12 December.
The 4 adds are exactly in line with our forecast but a couple of the deletions are surprises. Those two names were close deletes though.
The are some large shorts on a few deletes and there could be covering over the next few weeks as borrows are recalled and as the stocks drop.


KOSPI200 Index Rebalance: Adds in Line; Couple of Deletes Are Surprises

<ul>
<li>We discuss the end of the mandatory lock-up periods for 41 stocks in Korea in August 2024, among which 2 are in KOSPI and 39 are in KOSDAQ.</li>
<li>These 41 stocks on average could be subject to further selling pressures in August and could underperform relative to the market.</li>
<li>The top three market cap stocks including those of which at least 1% of outstanding shares could be sold in August include APR, Fadu, and Kuk Il Paper.</li>
</ul>


We discuss the end of the mandatory lock-up periods for 41 stocks in Korea in August 2024, among which 2 are in KOSPI and 39 are in KOSDAQ.
These 41 stocks on average could be subject to further selling pressures in August and could underperform relative to the market.
The top three market cap stocks including those of which at least 1% of outstanding shares could be sold in August include APR, Fadu, and Kuk Il Paper.


End of Mandatory Lock-Up Periods for 41 Companies in Korea in August 2024

<ul>
<li>Around a third of the way though the review period, there could be 4 changes for the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX)</a> at the December rebalance.</li>
<li>The impact on the potential inclusions ranges from 0.6-21 days of ADV while the impact on the potential deletions varies from 2.5-16 days of ADV.</li>
<li>The potential adds have outperformed the potential deletions over the last few months and there could be more to go with short selling banned.</li>
</ul>


Around a third of the way though the review period, there could be 4 changes for the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX) at the December rebalance.
The impact on the potential inclusions ranges from 0.6-21 days of ADV while the impact on the potential deletions varies from 2.5-16 days of ADV.
The potential adds have outperformed the potential deletions over the last few months and there could be more to go with short selling banned.


KOSPI200 Index Rebalance Preview: 4 Changes Likely in December

South Korea

APR Corporation of Korea operates cosmetics businesses. The Company develops and produces facial mask, lotion, elite fluid, and other products. APR also develops and manufactures beauty devices.

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APR (278470 KS)

KOSPI 200 Rebalance in December 2024 Highlighted by Locals

In this insight, we discuss stocks that are highlighted in the local media as potential inclusion and exclusion candidates in the KOSPI 200...

Douglas Kim

KOSPI200 Dec24 Rebal: 4 ADDs, 5 DELs, Big ADV on Small Stocks

The KOSPI 200 December 2024 rebal has been announced. We got 8/9 right. One was borderline. One false positive is an issue we are checking, but the...

Travis Lundy

KOSPI200 Index Rebalance: Adds in Line; Couple of Deletes Are Surprises

There are 4 adds and 5 deletes for the KOSPI200 in December. 2 deletes are small surprises. There is a lot to trade in terms of ADV for some stocks...

Brian Freitas

End of Mandatory Lock-Up Periods for 41 Companies in Korea in August 2024

We discuss the end of the mandatory lock-up periods for 41 stocks in Korea in August 2024, among which 2 are in KOSPI and 39 are in KOSDAQ.

Douglas Kim

KOSPI200 Index Rebalance Preview: 4 Changes Likely in December

There could be 4 changes for the KOSPI200 in December. The impact on the potential inclusions ranges from 0.6-21 days of ADV while the impact on...

Brian Freitas

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