Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Thematic (Sector/Industry)

<ul>
<li>If the judicial overhang is overstated, it could distort the regime-change narrative and create new entry points for a deep value setup.</li>
<li>The local tape is overpricing post-win disqualification risk, creating a fear premium that could be low-hanging alpha for contrarians willing to fade the noise.</li>
<li>Monitor Lee’s poll numbers, as public sentiment impacts the judiciary. This offers a chance to front-run shifts and capitalize on the next rotation, potentially turning into a stealthy upside play.</li>
</ul>


If the judicial overhang is overstated, it could distort the regime-change narrative and create new entry points for a deep value setup.
The local tape is overpricing post-win disqualification risk, creating a fear premium that could be low-hanging alpha for contrarians willing to fade the noise.
Monitor Lee’s poll numbers, as public sentiment impacts the judiciary. This offers a chance to front-run shifts and capitalize on the next rotation, potentially turning into a stealthy upside play.


Clarifying the Key Points on Lee Jae-Myung's Legal Risk and How It Could Affect the Trade

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cs-wind-corp" target="_blank" data-smartkarma-citation="entities:4883:1" rel="noopener">CS Wind Corp (112610 KS)</a> is one of the biggest players in wind tower globally with a substantial presence in the US. </li>
<li>Excellent Q2 24 operating numbers led to a sharp increase in the share price that is mainly driven by short covering. </li>
<li>The revenue growth occurred without sacrificing profitability, a sign that the company is in the driving seat.</li>
</ul>



CS Wind Corp (112610 KS) is one of the biggest players in wind tower globally with a substantial presence in the US. 
Excellent Q2 24 operating numbers led to a sharp increase in the share price that is mainly driven by short covering. 
The revenue growth occurred without sacrificing profitability, a sign that the company is in the driving seat.


Event-Driven

Korea Stock Exchange Kospi Index / Event-Driven

<ul>
<li>The Constitutional Court approved President Yoon’s impeachment. The PM steps in as interim president, with a new election expected by May 28, 2025, before June 3.</li>
<li>The Democratic Party is the frontrunner, and if they win, expect a "regime change trade" with policy shifts toward green energy, welfare, public stimulus, and SME-focused initiatives.</li>
<li>Big-Cap builders, nuclear stocks, and major financials may struggle if the new regime focuses on public housing, anti-nuclear policies, and pro-SME, labor-friendly initiatives.</li>
</ul>


The Constitutional Court approved President Yoon’s impeachment. The PM steps in as interim president, with a new election expected by May 28, 2025, before June 3.
The Democratic Party is the frontrunner, and if they win, expect a "regime change trade" with policy shifts toward green energy, welfare, public stimulus, and SME-focused initiatives.
Big-Cap builders, nuclear stocks, and major financials may struggle if the new regime focuses on public housing, anti-nuclear policies, and pro-SME, labor-friendly initiatives.


Yoon’s Impeachment Confirmed: Key Timeline & Regime Change Trade

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 short interest of KRX stocks as of Aug 16th which has an aggregated short interest worth USD5.3bn.</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 changes in Sk Hynix (000660 KS).</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 16th which has an aggregated short interest worth USD5.3bn.
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 changes in Sk Hynix (000660 KS).


KRX Short Interest Weekly (Aug 16th): Sk Hynix

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Jul 19th which has an aggregated short interest worth USD5.8bn.</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 changes in Doosan Enerbility (034020 KS).</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jul 19th which has an aggregated short interest worth USD5.8bn.
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 changes in Doosan Enerbility (034020 KS).


KRX Short Interest Weekly (Jul 19th): Doosan Enerbility

South Korea

CS Wind Corporation operates as a wind tower company. The Company manufactures and exports steel wind towers, while also offering aluminum platforms for wind towers. CS Wind extends its products and services globally.

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CS Wind Corp (112610 KS)

Clarifying the Key Points on Lee Jae-Myung's Legal Risk and How It Could Affect the Trade

This post breaks down the key points of Lee Jae-myung's legal risk, triggered by yesterday's Supreme Court ruling, and provides insight into how it...

Sanghyun Park

CS Wind (112610): Excellent Q2

CS Wind, recently acquired a new offshore foundation wind tower business that helped to increase revenues and expand margin. Even after the recent...

Henry Soediarko

Yoon’s Impeachment Confirmed: Key Timeline & Regime Change Trade

Yoon’s impeachment confirmed: What is the immediate impact on the local stock market, and which sectors are likely to move.

Sanghyun Park

KRX Short Interest Weekly (Aug 16th): Sk Hynix

We analyzed KRX short interest report for the past week and highlighted short interest changes in Sk Hynix (ticker: 000660 KS).

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Jul 19th): Doosan Enerbility

We analyzed KRX short interest report for the past week and highlighted short interest changes in Doosan Enerbility (034020 KS).

Ke Yan, CFA, FRM

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