Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

<div class="content-highlight">
<p>The "K-Stop movement" made its first real move on <a href="https://www.smartkarma.com/entities/hlb-inc" target="_blank" data-smartkarma-citation="entities:16969:1" rel="noopener">HLB Inc (028300 KS) </a>today on July 15th. The K-Stop movement refers to "Korean Game Stop movement," where many Korean retail investors have gathered together to actively protest and trade against the institutional investors that have put short positions on various Korean stocks.</p>
<p>Similar to many retail investors in US that have traded heavily shorted stocks such as <a href="https://www.smartkarma.com/entities/gamestop-corp-class-a" target="_blank" data-smartkarma-citation="entities:13790:1" rel="noopener">GameStop (GME US) </a>and AMC, many Korean retail investors also want to capitalize on such potential buying of heavily shorted stocks in Korea. </p>
</div>


The "K-Stop movement" made its first real move on HLB Inc (028300 KS) today on July 15th. The K-Stop movement refers to "Korean Game Stop movement," where many Korean retail investors have gathered together to actively protest and trade against the institutional investors that have put short positions on various Korean stocks.
Similar to many retail investors in US that have traded heavily shorted stocks such as GameStop (GME US) and AMC, many Korean retail investors also want to capitalize on such potential buying of heavily shorted stocks in Korea. 


The Rise of the K-Stop Movement: Makes Its First Real Move on HLB

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.

<p>The Korea FSC announced a new stock lending service specifically designed for local retail investors.</p><p>It is much broader in size and scope than the existing one.</p><p>The number of participating brokerages rises from 6 to 28. The lending pool totals ₩2.4T, a substantial increase from ₩0.02T.</p><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Stock lending service"}'>Stock lending service</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Before"}'>Before</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"New"}'>New</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Number of participating brokerages"}'>Number of participating brokerages</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":6}'>6</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":28}'>28</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Lending size"}'>Lending size</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"₩20.5B"}'>₩20.5B</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"₩2,400.0B"}'>₩2,400.0B</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Eligible stocks"}'>Eligible stocks</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":393}'>393</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Short 350"}'>
<p>Short 350 for now</p>
<p>(Most listed stocks later)</p>
</td>
</tr>
<tr><td colspan="3" rowspan="1" data-sheets-value='{"1":2,"2":"Source: KRX"}'>Source: KRX</td></tr>
</tbody>
</table><p>A total of 17 local brokerages begin to offer the new service right starting May 3. The other 11 brokerages will join within the end of this year.</p><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr><td colspan="3" rowspan="1" data-sheets-value='{"1":2,"2":"Participating brokerages"}'>Participating brokerages</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Before"}'>Before</td>
<td colspan="2" rowspan="1" data-sheets-value='{"1":2,"2":"New"}'>New</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"NH"}'>NH</td>
<td colspan="1" rowspan="18" data-sheets-value='{"1":2,"2":"Starting May 3"}'><div><strong>Starting May 3</strong></div></td>
<td data-sheets-value='{"1":2,"2":"NH"}'><strong>NH</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Kiwoom"}'>Kiwoom</td>
<td data-sheets-value='{"1":2,"2":"Kiwoom"}'><strong>Kiwoom</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Shinhan"}'>Shinhan</td>
<td data-sheets-value='{"1":2,"2":"Shinhan"}'><strong>Shinhan</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Daishin"}'>Daishin</td>
<td data-sheets-value='{"1":2,"2":"Daishin"}'><strong>Daishin</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"SK"}'>SK</td>
<td data-sheets-value='{"1":2,"2":"SK"}'><strong>SK</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Yuanta"}'>Yuanta</td>
<td data-sheets-value='{"1":2,"2":"Yuanta"}'><strong>Yuanta</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"KIS"}'><strong>KIS</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Hana"}'><strong>Hana</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"KB"}'><strong>KB</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Samsung"}'><strong>Samsung</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Kyobo"}'><strong>Kyobo</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Mirae Asset"}'><strong>Mirae Asset</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Cape"}'><strong>Cape</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"BNK"}'><strong>BNK</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Sangsangin"}'><strong>Sangsangin</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Hanyang"}'><strong>Hanyang</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"BNK"}'><strong>BNK</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Bookook"}'><strong>Bookook</strong></td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td colspan="1" rowspan="11" data-sheets-value='{"1":2,"2":"By the end of the year"}'><div>By the end of the year</div></td>
<td data-sheets-value='{"1":2,"2":"eBest"}'>e-Best</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Eugene"}'>Eugene</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Hi"}'>Hi</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Meritz"}'>Meritz</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"KTB"}'>KTB</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"IBK"}'>IBK</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"DB"}'>DB</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Hanwha"}'>Hanwha</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Hyundai Motor"}'>Hyundai Motor</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Shinyoung"}'>Shinyoung</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"-"}'>-</td>
<td data-sheets-value='{"1":2,"2":"Yuhwa"}'>Yuhwa</td>
</tr>
<tr><td colspan="3" rowspan="1" data-sheets-value='{"1":2,"2":"Source: KRX"}'>Source: KRX</td></tr>
</tbody>
</table><p>The maximum lending period is 60 days. This is a guaranteed period. A borrower has up to 60 days of guaranteed period to keep the loaned stocks if they want.</p><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Conditions"}'>Conditions</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Max lending period"}'>Max lending period</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"60 days"}'>60 days</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Early repayment"}'>- Early repayment</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Only by borrowers"}'>Yes</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Lending fee"}'>Lending fee</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Set by brokerges"}'>Set by brokerages</td>
</tr>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Source: KRX"}'>Source: KRX</td></tr>
</tbody>
</table><p>Both borrowers and lenders can request early repayment.</p><p>But if a lender wants early repayment before the 60-day guaranteed period, the KSFC (Korea Securities Finance Corp) will repay out of the lending stock pool.</p><p><strong>The overall flow is quite simple. It is basically built around a stock loan structure with retail borrowers acting as a LP instead of a brokerage.</strong></p><p><strong>The KSFC serves as an intermediary operating a lending stock pool.</strong></p><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr><td colspan="9" rowspan="1" data-sheets-value='{"1":2,"2":"Stock lending process"}'>Stock lending process</td></tr>
<tr>
<td colspan="1" rowspan="5" style="text-align: center;" data-sheets-value='{"1":2,"2":"Retail lender"}'><div><strong>Retail lender</strong></div></td>
<td colspan="1" rowspan="5" style="text-align: center;" data-sheets-value='{"1":2,"2":"←\nOffer stock loan\n\n→\nProvide stocks as collateral"}'><div>←<br>Offer stock loan<br><br>→<br>Provide stocks as collateral</div></td>
<td colspan="1" rowspan="5" style="text-align: center;" data-sheets-value='{"1":2,"2":"Brokerage A"}'><div>Brokerage A</div></td>
<td colspan="1" rowspan="5" style="text-align: center;" data-sheets-value='{"1":2,"2":"←\nOffer stock loan\n\n→\nProvide stocks as collateral"}'><div>←<br>Offer stock loan<br><br>→<br>Provide stocks as collateral</div></td>
<td colspan="1" rowspan="5" style="text-align: center;" data-sheets-value='{"1":2,"2":"KSFC\n(Lending stock pool)"}'><div>
<strong>The KSFC</strong><br><strong>(Lending stock pool)</strong>
</div></td>
<td colspan="1" rowspan="5" style="text-align: center;" data-sheets-value='{"1":2,"2":"←\nGive cash as collateral\n\n→\nLend stocks"}'><div>←<br>Give cash as collateral<br><br>→<br>Lend stocks</div></td>
<td colspan="1" rowspan="5" style="text-align: center;" data-sheets-value='{"1":2,"2":"Brokerage B"}'><div>Brokerage B</div></td>
<td colspan="1" rowspan="5" style="text-align: center;" data-sheets-value='{"1":2,"2":"←\nGive cash as collateral\n\n→\nLend stocks"}'><div>←<br>Give cash as collateral<br><br>→<br>Lend stocks</div></td>
<td colspan="1" rowspan="5" style="text-align: center;" data-sheets-value='{"1":2,"2":"Retail borrower"}'><div><strong>Retail borrower</strong></div></td>
</tr>
<tr></tr>
<tr></tr>
<tr></tr>
<tr></tr>
<tr><td colspan="9" rowspan="1" data-sheets-value='{"1":2,"2":"Source: KRX"}'>Source: KRX</td></tr>
</tbody>
</table>

The Korea FSC announced a new stock lending service specifically designed for local retail investors.It is much broader in size and scope than the existing one.The number of participating brokerages rises from 6 to 28. The lending pool totals ₩2.4T, a substantial increase from ₩0.02T.







Stock lending service
Before
New


Number of participating brokerages
6
28


Lending size
₩20.5B
₩2,400.0B


Eligible stocks
393

Short 350 for now
(Most listed stocks later)


Source: KRX

A total of 17 local brokerages begin to offer the new service right starting May 3. The other 11 brokerages will join within the end of this year.






Participating brokerages

Before
New


NH
Starting May 3
NH


Kiwoom
Kiwoom


Shinhan
Shinhan


Daishin
Daishin


SK
SK


Yuanta
Yuanta


-
KIS


-
Hana


-
KB


-
Samsung


-
Kyobo


-
Mirae Asset


-
Cape


-
BNK


-
Sangsangin


-
Hanyang


-
BNK


-
Bookook


-
By the end of the year
e-Best


-
Eugene


-
Hi


-
Meritz


-
KTB


-
IBK


-
DB


-
Hanwha


-
Hyundai Motor


-
Shinyoung


-
Yuhwa

Source: KRX

The maximum lending period is 60 days. This is a guaranteed period. A borrower has up to 60 days of guaranteed period to keep the loaned stocks if they want.





Conditions

Max lending period
60 days


- Early repayment
Yes


Lending fee
Set by brokerages

Source: KRX

Both borrowers and lenders can request early repayment.But if a lender wants early repayment before the 60-day guaranteed period, the KSFC (Korea Securities Finance Corp) will repay out of the lending stock pool.The overall flow is quite simple. It is basically built around a stock loan structure with retail borrowers acting as a LP instead of a brokerage.The KSFC serves as an intermediary operating a lending stock pool.












Stock lending process

Retail lender
← Offer stock loan  → Provide stocks as collateral
Brokerage A
← Offer stock loan  → Provide stocks as collateral

The KSFC (Lending stock pool)

← Give cash as collateral  → Lend stocks
Brokerage B
← Give cash as collateral  → Lend stocks
Retail borrower





Source: KRX



Korea's New Retail Stock Lending Service: Flow Structure & Potential Impacts

KMW and HLB are at the top in both short and loan interests among the KOSDAQ stocks (excluding SillaJen).KMW has a 4.83% short interest (as a % of SO), closely followed by HLB at 4.57%.Not much change in their short interest, but KMW had a substantial weekly increase in its loan interest, +18.42% and +2.18%p. Its loan interest now sits at a whopping 18.42% of the SO.













Top 20 short interest
Ticker
K150
Short
1W Δ
1W Δ %p
Loan
1W Δ
1W Δ %p


KMW Co Ltd
032500
126
4.83%
-0.10%
0.00%p
14.02%
18.42%
2.18%p


HLB Inc
028300
82
4.57%
1.26%
0.06%p
10.92%
4.51%
0.47%p


Apam Corp
073070
#N/A
2.41%
0.00%
0.00%p
4.09%
0.00%
0.00%p


Sangsangin Co Ltd
038540
50
2.08%
-4.34%
-0.09%p
4.11%
-0.76%
-0.03%p


Toptec Co Ltd
108230
137
2.07%
-1.95%
-0.04%p
4.05%
0.60%
0.02%p


NatureCell Co Ltd
007390
19
1.96%
4.13%
0.08%p
5.31%
-0.76%
-0.04%p


Kuk Il Paper MFG Co Ltd
078130
17
1.92%
3.92%
0.07%p
6.75%
1.77%
0.12%p


Komipharm International Co., Ltd.
041960
128
1.84%
-1.23%
-0.02%p
4.51%
1.30%
0.06%p


BH Co Ltd
090460
45
1.79%
0.30%
0.01%p
4.90%
0.96%
0.05%p


Power Logics
047310
#N/A
1.75%
-0.12%
0.00%p
2.85%
-7.12%
-0.22%p


Innovation For Creative Devices Co Ltd
040910
#N/A
1.73%
-0.92%
-0.02%p
2.83%
0.57%
0.02%p


Korea Alcohol Industrial
017890
#N/A
1.72%
3.37%
0.06%p
2.99%
0.00%
0.00%p


Cancer Rop Co Ltd
180400
#N/A
1.67%
0.00%
0.00%p
1.98%
-0.12%
0.00%p


Curocom Co., Ltd.
040350
#N/A
1.62%
3.46%
0.05%p
2.84%
0.00%
0.00%p


MS Autotech Co Ltd
123040
#N/A
1.50%
0.12%
0.00%p
2.73%
0.00%
0.00%p


Hyundai Bioscience Co Ltd
048410
148
1.49%
-0.67%
-0.01%p
4.50%
1.37%
0.06%p


ACT Co Ltd (Chungcheongbuk-do)
138360
#N/A
1.48%
0.00%
0.00%p
1.98%
0.00%
0.00%p


Orbitech Co Ltd
046120
#N/A
1.46%
-1.78%
-0.03%p
2.04%
0.39%
0.01%p


STCube Inc
052020
78
1.45%
0.82%
0.01%p
3.62%
1.94%
0.07%p


Chemtronics Co Ltd
089010
#N/A
1.45%
-1.14%
-0.02%p
3.23%
-0.21%
-0.01%p

Source: KRX &amp; KOFIA















Top 20 loan balance
Ticker
K150
Short
1W Δ
1W Δ %p
Loan
1W Δ
1W Δ %p


KMW Co Ltd
032500
126
4.83%
-0.10%
0.00%p
14.02%
18.42%
2.18%p


HLB Inc
028300
82
4.57%
1.26%
0.06%p
10.92%
4.51%
0.47%p


Easy Holdings Co Ltd
035810
113
0.46%
0.58%
0.00%p
8.08%
3.57%
0.28%p


Anterogen Co Ltd
065660
72
0.59%
1.17%
0.01%p
7.44%
-3.19%
-0.25%p


Medipost Co Ltd
078160
42
0.84%
-0.17%
0.00%p
7.36%
1.90%
0.14%p


Intops Co Ltd
049070
#N/A
0.07%
0.00%
0.00%p
7.33%
-28.64%
-2.94%p


Ecopro Co., Ltd.
086520
86
0.74%
-5.99%
-0.05%p
7.04%
1.68%
0.12%p


Kuk Il Paper MFG Co Ltd
078130
17
1.92%
3.92%
0.07%p
6.75%
1.77%
0.12%p


NHN KCP Corp
060250
9
0.09%
23.86%
0.02%p
6.72%
2.53%
0.17%p


Jusung Engineering Co., Ltd.
036930
118
0.42%
-9.99%
-0.05%p
6.52%
2.24%
0.14%p


PearlAbyss Corp
263750
142
0.43%
284.98%
0.32%p
6.52%
394.02%
5.20%p


Seegene Inc
096530
66
0.67%
-2.59%
-0.02%p
6.16%
23.97%
1.19%p


PARTRON Co Ltd
091700
141
1.41%
-26.86%
-0.52%p
6.11%
12.15%
0.66%p


Genic Co Ltd
123330
#N/A
0.33%
0.00%
0.00%p
6.07%
-0.13%
-0.01%p


TSE Co Ltd
131290
#N/A
0.07%
0.00%
0.00%p
5.88%
-11.63%
-0.77%p


MedyTox Inc
086900
41
0.60%
2.17%
0.01%p
5.86%
-0.01%
0.00%p


DAWONSYS CO., LTD
068240
26
0.76%
1.00%
0.01%p
5.86%
-6.62%
-0.41%p


JYP Entertainment Corp
035900
6
0.57%
96.86%
0.28%p
5.84%
-1.89%
-0.11%p


Cafe24 Corp
042000
123
1.21%
10.81%
0.12%p
5.59%
1.83%
0.10%p


L&amp;K Biomed Co Ltd
156100
#N/A
0.05%
53.16%
0.02%p
5.35%
-0.79%
-0.04%p

Source: KRX &amp; KOFIA

In the run-up to the May 3 short-selling resumption, we should probably focus on gainers in loan interest, which often serves as a leading indicator of short-selling.Last week, the biggest gainer was Pearl Abyss, with a 5.2%p increase to 6.52% of the SO. Kyhyoung and KMW follow distantly, with 3.24%p and 2.18%p, respectively.The market seems to be interested in shorting Pearl Abyss on the recent bounce, largely resulting from the stock split event.













Top 20 loan balance gainers
Ticker
K150
Short
1W Δ
1W Δ %p
Loan
1W Δ
1W Δ %p


PearlAbyss Corp
263750
142
0.43%
284.98%
0.32%p
6.52%
394.02%
5.20%p


Kohyoung Technology Inc
098460
15
1.10%
387.22%
0.87%p
4.04%
405.32%
3.24%p


KMW Co Ltd
032500
126
4.83%
-0.10%
0.00%p
14.02%
18.42%
2.18%p


Victek Co., Ltd.
065450
#N/A
0.19%
-73.11%
-0.53%p
2.64%
132.44%
1.51%p


Seegene Inc
096530
66
0.67%
-2.59%
-0.02%p
6.16%
23.97%
1.19%p


Ace Technologies Corp.
088800
81
0.82%
-0.75%
-0.01%p
3.67%
40.14%
1.05%p


HLB Life Science Co Ltd
067630
83
1.32%
-1.60%
-0.02%p
4.62%
23.87%
0.89%p


Bosung Power Technology Co., Ltd.
006910
#N/A
1.05%
-0.11%
0.00%p
2.43%
51.56%
0.83%p


Alteogen Inc
196170
74
0.26%
39.89%
0.07%p
3.20%
34.31%
0.82%p


Helixmith Co Ltd
084990
147
0.78%
-0.71%
-0.01%p
4.89%
15.94%
0.67%p


PARTRON Co Ltd
091700
141
1.41%
-26.86%
-0.52%p
6.11%
12.15%
0.66%p


Deutsch Motors Inc
067990
#N/A
0.89%
2.00%
0.02%p
2.81%
29.96%
0.65%p


Kakao Games Corp
293490
122
0.00%
-100.00%
-0.01%p
4.08%
18.68%
0.64%p


Youngsin Metal Industrial
007530
#N/A
0.00%
#DIV/0!
0.00%p
0.98%
171.75%
0.62%p


Eone Diagnomics Genome Center Co Ltd
245620
#N/A
0.32%
127.91%
0.18%p
1.46%
69.18%
0.60%p


Huons Global Co Ltd
084110
#N/A
0.08%
-10.97%
-0.01%p
1.23%
85.37%
0.57%p


FORMETAL CO., LTD.
119500
#N/A
0.00%
#DIV/0!
0.00%p
2.11%
36.06%
0.56%p


LET Co Ltd
297890
#N/A
0.00%
#DIV/0!
0.00%p
0.52%
#DIV/0!
0.52%p


HLB Inc
028300
82
4.57%
1.26%
0.06%p
10.92%
4.51%
0.47%p


Fantagio Corp
032800
#N/A
0.31%
400.00%
0.25%p
0.58%
307.70%
0.44%p

Source: KRX &amp; KOFIA



KOSDAQ Short/Loan Int: Pearl Abyss on Radar for Recent Bounce & Big Names KOSPI Moving

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Quantitative Analysis

<div><p>The Asia Short Interest weekly looks at moves in market wide short interest and highlights movements in stock specific short interest across Hong Kong, Japan, Korea and Taiwan using the last available data published by the relevant authorities.</p></div><div><p>Hong Kong saw shorts rise on <a href="https://www.smartkarma.com/entities/cathay-pacific-airways-ltd" target="_blank" data-smartkarma-citation="entities:243:1" rel="noopener">Cathay Pacific Airways (293 HK)</a>, <a href="https://www.smartkarma.com/entities/postal-savings-bank-of-china" target="_blank" data-smartkarma-citation="entities:22848:1" rel="noopener">Postal Savings Bank of China (1658 HK)</a>, <a href="https://www.smartkarma.com/entities/china-international-capital-corporation-ltd" target="_blank" data-smartkarma-citation="entities:1071:1" rel="noopener">China International Capital Corporation (3908 HK)</a>, <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a> and <a href="https://www.smartkarma.com/entities/citic-securities-h" target="_blank" data-smartkarma-citation="entities:463:1" rel="noopener">Citic Securities (H) (6030 HK)</a> while there was short covering on <a href="https://www.smartkarma.com/entities/byd-co-ltd-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD (1211 HK)</a>, <a href="https://www.smartkarma.com/entities/meituan-dianping" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan (3690 HK)</a>, <a href="https://www.smartkarma.com/entities/cnooc-ltd" target="_blank" data-smartkarma-citation="entities:175:1" rel="noopener">CNOOC Ltd (883 HK)</a>, <a href="https://www.smartkarma.com/entities/alibaba-group" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group (9988 HK)</a> and <a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec Co. Ltd. (2359 HK)</a>. Shorts increased on Financials, while decreasing on Consumer Discretionary, Health Care, Information Technology, Consumer Staples and Energy.</p></div><div><p>In Japan, stocks that saw the most shorts were <a href="https://www.smartkarma.com/entities/net-one-systems-co-ltd" target="_blank" data-smartkarma-citation="entities:1279:1" rel="noopener">Net One Systems (7518 JP)</a>, <a href="https://www.smartkarma.com/entities/freee-kk" target="_blank" data-smartkarma-citation="entities:28424:1" rel="noopener">freee (4478 JP)</a>, <a href="https://www.smartkarma.com/entities/canon-inc" target="_blank" data-smartkarma-citation="entities:1:1" rel="noopener">Canon Inc (7751 JP)</a> and <a href="https://www.smartkarma.com/entities/monotaro-co-ltd" target="_blank" data-smartkarma-citation="entities:15441:1" rel="noopener">MonotaRO Co Ltd (3064 JP)</a> while shorts decreased on <a href="https://www.smartkarma.com/entities/bandai-namco-holdings-inc" target="_blank" data-smartkarma-citation="entities:13435:1" rel="noopener">Bandai Namco Holdings (7832 JP)</a>, <a href="https://www.smartkarma.com/entities/anritsu-corp" target="_blank" data-smartkarma-citation="entities:3700:1" rel="noopener">Anritsu Corp (6754 JP)</a>, <a href="https://www.smartkarma.com/entities/square-enix-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:15003:1" rel="noopener">Square Enix Holdings (9684 JP)</a> and <a href="https://www.smartkarma.com/entities/yamato-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:2:1" rel="noopener">Yamato Holdings (9064 JP)</a>. Sectorally, shorts decreased in almost all sectors led by Consumer Discretionary, Financials and Information Technology.</p></div><div><p>In Korea, there was large short covering 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>, <a href="https://www.smartkarma.com/entities/hlb-inc" target="_blank" data-smartkarma-citation="entities:16969:1" rel="noopener">HLB Inc (028300 KS)</a>, <a href="https://www.smartkarma.com/entities/celltrion-healthcare" target="_blank" data-smartkarma-citation="entities:23641:1" rel="noopener">Celltrion Healthcare (091990 KS)</a>, <a href="https://www.smartkarma.com/entities/netmarble-corporation" target="_blank" data-smartkarma-citation="entities:22839:1" rel="noopener">Netmarble Corporation (251270 KS)</a>, <a href="https://www.smartkarma.com/entities/pearl-abyss-corp" target="_blank" data-smartkarma-citation="entities:24391:1" rel="noopener">Pearl Abyss (263750 KS)</a> and <a href="https://www.smartkarma.com/entities/kmw-co-ltd" target="_blank" data-smartkarma-citation="entities:2834:1" rel="noopener">KMW Co Ltd (032500 KS)</a> as the most shorted stocks were covered. </p></div><div><p>Stocks in Taiwan that saw the highest increase in shorts were <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-company" target="_blank" data-smartkarma-citation="entities:11230:1" rel="noopener">TSMC (2330 TT)</a>, <a href="https://www.smartkarma.com/entities/fitipower-integrated-tech" target="_blank" data-smartkarma-citation="entities:8712:1" rel="noopener">Fitipower Integrated Tech (4961 TT)</a>, <a href="https://www.smartkarma.com/entities/chunghwa-telecom-co-ltd" target="_blank" data-smartkarma-citation="entities:9181:1" rel="noopener">Chunghwa Telecom (2412 TT)</a> and <a href="https://www.smartkarma.com/entities/novatek-microelectronics-corp" target="_blank" data-smartkarma-citation="entities:10904:1" rel="noopener">Novatek Microelectronics Corp (3034 TT)</a> while shorts were covered on <a href="https://www.smartkarma.com/entities/au-optronics-corp" target="_blank" data-smartkarma-citation="entities:6704:1" rel="noopener">Au Optronics (2409 TT)</a>, <a href="https://www.smartkarma.com/entities/pegatron-corp" target="_blank" data-smartkarma-citation="entities:12852:1" rel="noopener">Pegatron Corp (4938 TT)</a>, <a href="https://www.smartkarma.com/entities/realtek-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:7326:1" rel="noopener">Realtek Semiconductor (2379 TT)</a> and <a href="https://www.smartkarma.com/entities/innolux-corp" target="_blank" data-smartkarma-citation="entities:4509:1" rel="noopener">Innolux Corp (3481 TT)</a>. </p></div>

The Asia Short Interest weekly looks at moves in market wide short interest and highlights movements in stock specific short interest across Hong Kong, Japan, Korea and Taiwan using the last available data published by the relevant authorities.Hong Kong saw shorts rise on Cathay Pacific Airways (293 HK), Postal Savings Bank of China (1658 HK), China International Capital Corporation (3908 HK), Tencent Holdings (700 HK) and Citic Securities (H) (6030 HK) while there was short covering on BYD (1211 HK), Meituan (3690 HK), CNOOC Ltd (883 HK), Alibaba Group (9988 HK) and WuXi AppTec Co. Ltd. (2359 HK). Shorts increased on Financials, while decreasing on Consumer Discretionary, Health Care, Information Technology, Consumer Staples and Energy.In Japan, stocks that saw the most shorts were Net One Systems (7518 JP), freee (4478 JP), Canon Inc (7751 JP) and MonotaRO Co Ltd (3064 JP) while shorts decreased on Bandai Namco Holdings (7832 JP), Anritsu Corp (6754 JP), Square Enix Holdings (9684 JP) and Yamato Holdings (9064 JP). Sectorally, shorts decreased in almost all sectors led by Consumer Discretionary, Financials and Information Technology.In Korea, there was large short covering in Celltrion Inc (068270 KS), HLB Inc (028300 KS), Celltrion Healthcare (091990 KS), Netmarble Corporation (251270 KS), Pearl Abyss (263750 KS) and KMW Co Ltd (032500 KS) as the most shorted stocks were covered. Stocks in Taiwan that saw the highest increase in shorts were TSMC (2330 TT), Fitipower Integrated Tech (4961 TT), Chunghwa Telecom (2412 TT) and Novatek Microelectronics Corp (3034 TT) while shorts were covered on Au Optronics (2409 TT), Pegatron Corp (4938 TT), Realtek Semiconductor (2379 TT) and Innolux Corp (3481 TT). 

Asia Short Interest: Cathay, PSBC, BYD, CNOOC, Bandai Namco, Anritsu, Celltrion, HLB, Fitipower

<p>The short sell ban in Korea that was instated on 16 March 2020 is set to expire on 15 March.</p><p>However, with mayoral elections in Seoul and Busan around the corner, politicians are said to be leaning on the FSC to extend the short sell ban. Add to that the retail outrage - from petitions to the Blue House, bus tours, and posts on K-Streetbets of targeting stocks with high short interest.</p><p>There is a high likelihood that the short sell ban gets extended by three more months to tide the politicians over the mayoral elections.</p><p>In the event that the short sell ban expires, we highlight stocks that have seen the most short covering since the start of the short sell ban, stocks with high short interest as a percentage of market cap and free float, and high days of ADV to cover.</p><p>This will have implications for many strategies and will open the door to trade the ordinaries vs preferred shares, long/short and other related strategies.</p>

The short sell ban in Korea that was instated on 16 March 2020 is set to expire on 15 March.However, with mayoral elections in Seoul and Busan around the corner, politicians are said to be leaning on the FSC to extend the short sell ban. Add to that the retail outrage - from petitions to the Blue House, bus tours, and posts on K-Streetbets of targeting stocks with high short interest.There is a high likelihood that the short sell ban gets extended by three more months to tide the politicians over the mayoral elections.In the event that the short sell ban expires, we highlight stocks that have seen the most short covering since the start of the short sell ban, stocks with high short interest as a percentage of market cap and free float, and high days of ADV to cover.This will have implications for many strategies and will open the door to trade the ordinaries vs preferred shares, long/short and other related strategies.

Korea Short Sell Ban: Elections, Public Outrage, Bus Tours, Blue House Petitions, K-Streetbets

South Korea

HLB Inc. operates cord blood banking and clinical demonstration service. The Company also produces industrial valves, and iron manufacturing machines.  The Company's subsidiaries are engaged in a wide range of businesses including manufacturing of electric field instruments, lifeboats and agent services.

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HLB Inc (028300 KS)

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The Korea FSC announced a new retail stock lending service. This post details the flow structure and quantitatively estimates potential impacts on...

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KOSDAQ Short/Loan Int: Pearl Abyss on Radar for Recent Bounce & Big Names KOSPI Moving

This post compiles weekly flow in short/loan interest for KOSDAQ stocks. It looks into Pearl Abyss for a substantial increase in loan interest and...

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Asia Short Interest: Cathay, PSBC, BYD, CNOOC, Bandai Namco, Anritsu, Celltrion, HLB, Fitipower

The Insight looks at large short interest movements across HK, Japan, Korea and Taiwan stocks and highlights large increases/decreases in shorts to...

Brian Freitas

Korea Short Sell Ban: Elections, Public Outrage, Bus Tours, Blue House Petitions, K-Streetbets

With the short sell ban in Korea scheduled to expire 15 March, we look at stocks that have seen the most short covering since the start of the ban,...

Brian Freitas

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