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>
<a href="https://www.smartkarma.com/entities/ecopro-co-ltd" target="_blank" data-smartkarma-citation="entities:19029:1" rel="noopener">Ecopro Co Ltd</a>, <a href="https://www.smartkarma.com/entities/kum-yang-co-ltd" target="_blank" data-smartkarma-citation="entities:10364:1" rel="noopener">Kum Yang</a>, <a href="https://www.smartkarma.com/entities/jyp-entertainment-corp" target="_blank" data-smartkarma-citation="entities:17598:1" rel="noopener">Jyp Entertainment</a>, <a href="https://www.smartkarma.com/entities/daewoo-shipbuilding-marine-engineering" target="_blank" data-smartkarma-citation="entities:12531:1" rel="noopener">Hanwha Ocean</a>, <a href="https://www.smartkarma.com/entities/hanmi-semiconductor-co-ltd" target="_blank" data-smartkarma-citation="entities:15587:1" rel="noopener">Hanmi Semiconductor</a> and <a href="https://www.smartkarma.com/entities/posco-dx-co-ltd" target="_blank" data-smartkarma-citation="entities:5198:1" rel="noopener">Posco DX</a> have all rallied recently and could find their way into global passive portfolios.</li>
<li>There could be liquidity events in some of the stocks as early as the end of the month and there is pre-positioning on a lot of the stocks.</li>
<li>Retail investors have been big buyers in <a href="https://www.smartkarma.com/entities/ecopro-co-ltd" target="_blank" data-smartkarma-citation="entities:19029:1" rel="noopener">Ecopro Co</a> and <a href="https://www.smartkarma.com/entities/kum-yang-co-ltd" target="_blank" data-smartkarma-citation="entities:10364:1" rel="noopener">Kum Yang</a> while foreign investors have been buyers in <a href="https://www.smartkarma.com/entities/jyp-entertainment-corp" target="_blank" data-smartkarma-citation="entities:17598:1" rel="noopener">Jyp Entertainment</a>, <a href="https://www.smartkarma.com/entities/daewoo-shipbuilding-marine-engineering" target="_blank" data-smartkarma-citation="entities:12531:1" rel="noopener">Hanwha Ocean</a>, <a href="https://www.smartkarma.com/entities/hanmi-semiconductor-co-ltd" target="_blank" data-smartkarma-citation="entities:15587:1" rel="noopener">Hanmi Semiconductor</a> and <a href="https://www.smartkarma.com/entities/posco-dx-co-ltd" target="_blank" data-smartkarma-citation="entities:5198:1" rel="noopener">Posco DX</a>.</li>
</ul>



Ecopro Co Ltd, Kum Yang, Jyp Entertainment, Hanwha Ocean, Hanmi Semiconductor and Posco DX have all rallied recently and could find their way into global passive portfolios.
There could be liquidity events in some of the stocks as early as the end of the month and there is pre-positioning on a lot of the stocks.
Retail investors have been big buyers in Ecopro Co and Kum Yang while foreign investors have been buyers in Jyp Entertainment, Hanwha Ocean, Hanmi Semiconductor and Posco DX.


Korea - Positioning in Ecopro, Kumyang, JYP Entertainment, Hanwha Ocean, Hanmi Semi, Posco DX

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<ul>
<li>Ecopro BM (247540 KS) and Kum Yang (001570 KS)'s shares are down 2.5% and 4.5%, respectively today, driven by news of insiders at these companies selling their shares.</li>
<li>It is estimated that the total amount of Ecopro BM shares sold by insiders and related parties was about 20 billion won in July by more than 12 insiders/related parties.</li>
<li>We are increasingly concerned about insiders selling at Ecopro BM and Kum Yang. Coupled with lofty valuations, we think there is a higher probability of downside risk on these names. </li>
</ul>


Ecopro BM (247540 KS) and Kum Yang (001570 KS)'s shares are down 2.5% and 4.5%, respectively today, driven by news of insiders at these companies selling their shares.
It is estimated that the total amount of Ecopro BM shares sold by insiders and related parties was about 20 billion won in July by more than 12 insiders/related parties.
We are increasingly concerned about insiders selling at Ecopro BM and Kum Yang. Coupled with lofty valuations, we think there is a higher probability of downside risk on these names. 


Insiders Selling at Ecopro BM and Kum Yang

<ul>
<li>We take a look at <a href="https://www.smartkarma.com/entities/ecopro-co-ltd" target="_blank" data-smartkarma-citation="entities:19029:1" rel="noopener">Ecopro Co Ltd (086520 KS)</a>, <a href="https://www.smartkarma.com/entities/kum-yang-co-ltd" target="_blank" data-smartkarma-citation="entities:10364:1" rel="noopener">Kum Yang (001570 KS)</a> and <a href="https://www.smartkarma.com/entities/jyp-entertainment-corp" target="_blank" data-smartkarma-citation="entities:17598:1" rel="noopener">Jyp Entertainment (035900 KS)</a> since they appear to be on investor radars.</li>
<li>Foreign investors have been buyers while retail have been sellers in <a href="https://www.smartkarma.com/entities/ecopro-co-ltd" target="_blank" data-smartkarma-citation="entities:19029:1" rel="noopener">Ecopro Co</a> and <a href="https://www.smartkarma.com/entities/kum-yang-co-ltd" target="_blank" data-smartkarma-citation="entities:10364:1" rel="noopener">Kum Yang</a> over the last month, while foreign investors have continued to buy <a href="https://www.smartkarma.com/entities/jyp-entertainment-corp" target="_blank" data-smartkarma-citation="entities:17598:1" rel="noopener">Jyp Entertainment</a>.</li>
<li>Short interest on all stocks has dropped over the last month, though there has been a recent tick up in shorts on <a href="https://www.smartkarma.com/entities/jyp-entertainment-corp" target="_blank" data-smartkarma-citation="entities:17598:1" rel="noopener">Jyp Entertainment (035900 KS)</a>. </li>
</ul>


We take a look at Ecopro Co Ltd (086520 KS), Kum Yang (001570 KS) and Jyp Entertainment (035900 KS) since they appear to be on investor radars.
Foreign investors have been buyers while retail have been sellers in Ecopro Co and Kum Yang over the last month, while foreign investors have continued to buy Jyp Entertainment.
Short interest on all stocks has dropped over the last month, though there has been a recent tick up in shorts on Jyp Entertainment (035900 KS). 


Korea - A Look at Ecopro, Kumyang & JYP Entertainment

<ul>
<li>On 27 July, SK Telecom announced a sizeable share buyback worth 300 billion won (including shares cancellation of 200 billion won) and quarterly dividend of 181 billion won. </li>
<li>SK Telecom will pay a quarterly DPS of 830 won, which represents 1.8% of its current price of 45,900 won. </li>
<li>SK Telecom is trying to boost its share price which has been negatively impacted by the regulators' pressure to cut telecom tariff rates and also increase competition. </li>
</ul>


On 27 July, SK Telecom announced a sizeable share buyback worth 300 billion won (including shares cancellation of 200 billion won) and quarterly dividend of 181 billion won. 
SK Telecom will pay a quarterly DPS of 830 won, which represents 1.8% of its current price of 45,900 won. 
SK Telecom is trying to boost its share price which has been negatively impacted by the regulators' pressure to cut telecom tariff rates and also increase competition. 


SK Telecom - Major Share Buyback & Cancellation

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.

<ul>
<li>Yonhap News reported on the exclusive coverage of Ecopro BM and L&amp;F's KOSPI transfer listing.</li>
<li>L&amp;F announced through the disclosure that they are considering the KOSPI transfer listing. Ecopro BM told another local news outlet that they are not currently reviewing the KOSPI transfer listing.</li>
<li>It seems that L&amp;F's KOSPI transfer listing is almost a confirmed fact. However, the Ecopro company in question may be Ecopro Co, not Ecopro BM.</li>
</ul>


Yonhap News reported on the exclusive coverage of Ecopro BM and L&amp;F's KOSPI transfer listing.
L&amp;F announced through the disclosure that they are considering the KOSPI transfer listing. Ecopro BM told another local news outlet that they are not currently reviewing the KOSPI transfer listing.
It seems that L&amp;F's KOSPI transfer listing is almost a confirmed fact. However, the Ecopro company in question may be Ecopro Co, not Ecopro BM.


What We Know Until Now About L&F & Ecopro BM's Kospi Transfer Listing

South Korea

Ecopro Co., Ltd. specializes in developing chemical absorbent and NDC (Nano Carbon Ball) in the field of environmental materials for the prevention of air pollution.  The Company's products include environment-related chemical filters, second battery materials, and CO catalyst.

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Ecopro Co Ltd (086520 KS)

Korea - Positioning in Ecopro, Kumyang, JYP Entertainment, Hanwha Ocean, Hanmi Semi, Posco DX

A bunch of Korean stocks have rallied recently amid high volatility and outperformed peers. Potential inclusion in global passive portfolios has...

Brian Freitas

Insiders Selling at Ecopro BM and Kum Yang

Ecopro BM (247540 KS) and Kum Yang (001570 KS)'s shares are down 2.5% and 4.5%, respectively today, driven by news of insiders at these companies...

Douglas Kim

Korea - A Look at Ecopro, Kumyang & JYP Entertainment

Ecopro, JYP and Kumyang stock prices are volatile and a couple are trading sharply higher again today. The price spurts have implications for the...

Brian Freitas

What We Know Until Now About L&F & Ecopro BM's Kospi Transfer Listing

This post provides the latest update on today's news about the possibility of L&F and Ecopro BM's KOSPI transfer listing.

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Korea - Positioning in Ecopro, Kumyang, JYP Entertainment, Hanwha Ocean, Hanmi Semi, Posco DX

A bunch of Korean stocks have rallied recently amid high volatility and outperformed peers. Potential inclusion in global passive portfolios has...

Brian Freitas

Insiders Selling at Ecopro BM and Kum Yang

Ecopro BM (247540 KS) and Kum Yang (001570 KS)'s shares are down 2.5% and 4.5%, respectively today, driven by news of insiders at these companies...

Douglas Kim

Korea - A Look at Ecopro, Kumyang & JYP Entertainment

Ecopro, JYP and Kumyang stock prices are volatile and a couple are trading sharply higher again today. The price spurts have implications for the...

Brian Freitas

SK Telecom - Major Share Buyback & Cancellation

On 27 July, SK Telecom announced a sizeable share buyback worth 300 billion won (including shares cancellation of 200 billion won) and quarterly...

Douglas Kim

What We Know Until Now About L&F & Ecopro BM's Kospi Transfer Listing

This post provides the latest update on today's news about the possibility of L&F and Ecopro BM's KOSPI transfer listing.

Sanghyun Park