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.

Event-Driven

<ul>
<li>Since we are currently at a point of two months toward the KOSPI 200 rebalancing, we should start building up positions on stocks with a higher probability among the candidates.</li>
<li>Six additions for position buildups: F&amp;F (383220 KS), Meritz Fire (000060 KS), SD Biosensor (137310 KS), Iljin Hysolus (271940 KS), Hanil Cement (300720 KS), &amp; K Car (381970 KS)
</li>
<li>Six deletions for position buildups: Nexen Tire (002350 KS), Cuckoo Holdings (192400 KS), S&amp;T Motiv (064960 KS), Sk Discovery (006120 KS), Bukwang Pharmaceutical (003000 KS), &amp; Poongsan Corp (103140 KS)
</li>
</ul>


Since we are currently at a point of two months toward the KOSPI 200 rebalancing, we should start building up positions on stocks with a higher probability among the candidates.
Six additions for position buildups: F&amp;F (383220 KS), Meritz Fire (000060 KS), SD Biosensor (137310 KS), Iljin Hysolus (271940 KS), Hanil Cement (300720 KS), &amp; K Car (381970 KS)

Six deletions for position buildups: Nexen Tire (002350 KS), Cuckoo Holdings (192400 KS), S&amp;T Motiv (064960 KS), Sk Discovery (006120 KS), Bukwang Pharmaceutical (003000 KS), &amp; Poongsan Corp (103140 KS)



KOSPI 200 Rebalancing D-60: Names for Position Buildups

<ul>
<li>The screening results based on the average market cap for the screening period until the last closing price have seven additions/deletions.</li>
<li>LG Energy will make Fast Entry. The one to make room for LG Energy should be Dongwon F&amp;B, an additional deletion to the seven deletions through the preliminary filtering.</li>
<li>F&amp;F Holdings may fail to meet the minimum float rate. If it doesn't make KOSPI 200 this time, Hyundai Marine &amp; Fire Insurance will get to stay in the Index.</li>
</ul>


The screening results based on the average market cap for the screening period until the last closing price have seven additions/deletions.
LG Energy will make Fast Entry. The one to make room for LG Energy should be Dongwon F&amp;B, an additional deletion to the seven deletions through the preliminary filtering.
F&amp;F Holdings may fail to meet the minimum float rate. If it doesn't make KOSPI 200 this time, Hyundai Marine &amp; Fire Insurance will get to stay in the Index.


KOSPI 200 Rebalancing Screening: Prediction Likelihood, Special Issues, & Passive Impacts

Myoung Shin Industrial Co.,Ltd / Event-Driven

<ul>
<li>This post measures how far the rebalancing trading of passive funds is progressing at this point. This can be essential data for setting up positions close to the effective date.</li>
<li>For this purpose, each stock's net purchase data of Pension and Insurance were collected from November 25 to today (30th).</li>
<li>As we move closer to the effective date, we need to consider selecting those with the relatively slow progress of rebalancing trading among the regular rebalancing stocks.</li>
</ul>


This post measures how far the rebalancing trading of passive funds is progressing at this point. This can be essential data for setting up positions close to the effective date.
For this purpose, each stock's net purchase data of Pension and Insurance were collected from November 25 to today (30th).
As we move closer to the effective date, we need to consider selecting those with the relatively slow progress of rebalancing trading among the regular rebalancing stocks.


KOSPI 200 Rebalancing Trading Progress Checkup

<ul>
<li>KOSPI 200 rebalancing results are out - 7 Additions: 4 (regular) + 2 (Fast Entry) + 1 (split) &amp; 7 Deletions: 6 (regular) + 1 (Fast Entry) 
</li>
<li>The passive impact of all additions is pretty significant. In particular, Meritiz, SL, and Kakao Pay are relatively larger.</li>
<li>For the deletes, it is worth considering approaching these stocks as an equal-weighted basket. Since their share prices have not been significantly corrected recently.</li>
</ul>


KOSPI 200 rebalancing results are out - 7 Additions: 4 (regular) + 2 (Fast Entry) + 1 (split) &amp; 7 Deletions: 6 (regular) + 1 (Fast Entry) 

The passive impact of all additions is pretty significant. In particular, Meritiz, SL, and Kakao Pay are relatively larger.
For the deletes, it is worth considering approaching these stocks as an equal-weighted basket. Since their share prices have not been significantly corrected recently.


7 Adds & 7 Deletes in KOSPI 200 Rebalancing: Passive Impact & Trade Setups

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

<ul>
<li>There will be 6 additions and 7 deletions for the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200-index" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">Korea Stock Exchange Kospi 200 Index (KOSPI2 INDEX)</a> at the December rebalance that will be implemented on 9 December.</li>
<li>
<a href="https://www.smartkarma.com/entities/hyundai-heavy-industries-co-ltd" target="_blank" data-smartkarma-citation="entities:33808:1" rel="noopener">Hyundai Heavy Industries (329180 KS)</a> and <a href="https://www.smartkarma.com/entities/kakao-pay-corp" target="_blank" data-smartkarma-citation="entities:29675:1" rel="noopener">Kakao Pay (377300 KS)</a> are Fast Entry inclusions to the index, while <a href="https://www.smartkarma.com/entities/innocean-worldwide-inc" target="_blank" data-smartkarma-citation="entities:26925:1" rel="noopener">Innocean Worldwide (214320 KS)</a> is a deletion on liquidity.</li>
<li>Depending on the float used by KRX, there could be a sharp move higher on <a href="https://www.smartkarma.com/entities/kakao-pay-corp" target="_blank" data-smartkarma-citation="entities:29675:1" rel="noopener">Kakao Pay (377300 KS)</a> as passive trackers could buy up to 15% of real float.</li>
</ul>


There will be 6 additions and 7 deletions for the Korea Stock Exchange Kospi 200 Index (KOSPI2 INDEX) at the December rebalance that will be implemented on 9 December.

Hyundai Heavy Industries (329180 KS) and Kakao Pay (377300 KS) are Fast Entry inclusions to the index, while Innocean Worldwide (214320 KS) is a deletion on liquidity.
Depending on the float used by KRX, there could be a sharp move higher on Kakao Pay (377300 KS) as passive trackers could buy up to 15% of real float.


KOSPI200 Index Rebalance: Mostly Expected, Couple of Surprises

South Korea

F&F Holdings Co., Ltd. manufactures and markets apparel products. The Company produces and markets sports casual clothing, bags, hats, and other accessories. F&F Holdings markets its products primarily throughout Korea with limited overseas.

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F&F Holdings Co (007700 KS)

KOSPI 200 Rebalancing D-60: Names for Position Buildups

This post suggests six additions and six deletions that we should consider for position buildups as we are two months away from the KOSPI 200...

Sanghyun Park

KOSPI 200 Rebalancing Screening: Prediction Likelihood, Special Issues, & Passive Impacts

This post has the screening results of the KOSPI 200 rebalancing, with a focus on prediction likelihood, special considerations, and passive impacts.

Sanghyun Park

KOSPI 200 Rebalancing Trading Progress Checkup

This post measures how far the rebalancing trading of local passive funds is progressing at this point. This can be important data when we set up...

Sanghyun Park

7 Adds & 7 Deletes in KOSPI 200 Rebalancing: Passive Impact & Trade Setups

The KRX officially unveiled the results of the December rebalancing for KOSPI 200: 7 adds & 7 deletes. This post has the complete list as well as...

Sanghyun Park

KOSPI200 Index Rebalance: Mostly Expected, Couple of Surprises

There are 6 adds and 7 deletes for the KOSPI200 at the Dec rebalance. Most of the changes were expected, but there are a couple of surprises. Kakao...

Brian Freitas

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