Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Event-Driven

In this insight, we discuss the top 50 most shorted stocks in KOSPI and KOSDAQ, respectively in terms of Short Sale Volume/Free Float Volume, respectively. The KRX provides updated short sale data in terms of short sale volume amount/market cap. However, it does not provide the data in terms of free float basis which is probably a better figure to use when analyzing the short sale data. We divided the tables for the KOSPI and KOSDAQ short sale volume into two parts. <ul>
<li>First, the 50 stocks are ranked in order of the short sale volume/free float volume ratio.</li>
<li>Second, because many institutional investors deal with larger market cap companies, we included only those companies with more than 1 trillion won in market cap. We also included data on the changes in the foreign ownership YTD. </li>
</ul>

In this insight, we discuss the top 50 most shorted stocks in KOSPI and KOSDAQ, respectively in terms of Short Sale Volume/Free Float Volume, respectively. The KRX provides updated short sale data in terms of short sale volume amount/market cap. However, it does not provide the data in terms of free float basis which is probably a better figure to use when analyzing the short sale data. We divided the tables for the KOSPI and KOSDAQ short sale volume into two parts. 
First, the 50 stocks are ranked in order of the short sale volume/free float volume ratio.
Second, because many institutional investors deal with larger market cap companies, we included only those companies with more than 1 trillion won in market cap. We also included data on the changes in the foreign ownership YTD. 


Top 50 Most Shorted Stocks in KOSPI & KOSDAQ (Short Sale Vol/Free Float Vol)

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.

Korea Short 350: Loan Balance, Short Interest, & % to 52WH

Cross Asset Strategy

<div class="content-highlight"><a href="https://www.news1.kr/articles/?4201835" target="_blank" rel="noopener">Korea Financial Services Commission (FSC)</a> announced after the market close today that there will be a PARTIAL end of the ban on short selling of stocks starting on May 3rd. This will not be applied on the entire market. Rather, this partial end of the ban on short selling of stocks will only apply for KOSPI 200 and KOSDAQ 150 included stocks (350 stocks in total) and will not apply for the remaining 2,037 stocks in the Korean stock market.</div>

Korea Financial Services Commission (FSC) announced after the market close today that there will be a PARTIAL end of the ban on short selling of stocks starting on May 3rd. This will not be applied on the entire market. Rather, this partial end of the ban on short selling of stocks will only apply for KOSPI 200 and KOSDAQ 150 included stocks (350 stocks in total) and will not apply for the remaining 2,037 stocks in the Korean stock market.

PARTIAL END of Ban on Short Selling of Stocks in Korea

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

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.

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

Equity Bottom-Up

In this insight, we provide an updated analysis of <a href="https://www.smartkarma.com/entities/hotel-shilla-co-ltd" target="_blank" data-smartkarma-citation="entities:107:1" rel="noopener">Hotel Shilla (008770 KS).</a> Although Hotel Shilla shares have underperformed KOSPI this year, we believe they are well-positioned to outperform the market over the next one year.COVID-19 has wrecked so many important business sectors in Korea. Among the most devasted have been the tourism and hospitality sectors. Hotel Shilla has been no exception with a steep drop in overseas visitors to South Korea having a devastating negative impact on the company.Hotel Shilla: A Separation from the Samsung Group? With the death of the late Samsung Group Chairman Lee Kun-Hee, there is an increasing probability that eventually Hotel Shilla may be separated from the Samsung Group.

In this insight, we provide an updated analysis of Hotel Shilla (008770 KS). Although Hotel Shilla shares have underperformed KOSPI this year, we believe they are well-positioned to outperform the market over the next one year.COVID-19 has wrecked so many important business sectors in Korea. Among the most devasted have been the tourism and hospitality sectors. Hotel Shilla has been no exception with a steep drop in overseas visitors to South Korea having a devastating negative impact on the company.Hotel Shilla: A Separation from the Samsung Group? With the death of the late Samsung Group Chairman Lee Kun-Hee, there is an increasing probability that eventually Hotel Shilla may be separated from the Samsung Group.

Hotel Shilla: A Turnaround Story of Improving Duty-Free Business & A Separation from Samsung Group?

South Korea

Shinsegae International Co., Ltd. was spun off from Shinsegae in 1996.  The company imports and distributes famous foreign brands and manufactures/distribut es domestic brand.  The Company's line of business includes the wholesale distribution of men's and women's apparel.

Cuckoo Homesys Co. Ltd. manufactures kitchen appliances. The Company produces and sells electric pressure cookers, dishwashers, blenders, water purifiers, and other products. Cuckoo Homesys also provides kitchen appliances exporting services. Cuckoo Homesys markets its products worldwide.

Kolao Holdings retails new and used cars, and provided repairs and maintenance services in Laos.  The company also retails motorcycles and automobile parts.

Seobu T&D operates a truck terminal and gas stations. The Company also provides freight and real estate leasing services.

LS Networks Co., Ltd. manufactures leather and athletic shoes, sports apparel, golf accessories, and leisure items.  The Company also operates a building leasing business.

Lotte Himart Company, Ltd. offers retailing and distribution services for consum er electronics and household appliances.  The Company offers a wide range of ele ctronic goods including TV, cell phones, computers, printers, GPS, digital camer as and MP3 as well as household appliances including refrigerators, microwaves, hair dryers and vacuum cleaners.

Deutsch Motors Inc. operates automobile dealership for new and used cars.  The Company also rents and leases the motor vehicles and provides after-sales services.  Deutsch Motors' cars include BMW and BMW's Mini.

The Leadcorp, Inc. specializes in small-scale consumer financing. The Company also distributes petroleum products and operates gas stations and highway rest stop businesses in Chungcheong region.

Daesung Industrial Co., Ltd. purchases and distributes petroleum and gas products through its gasoline stations and propane gas filling stations. The Company also distributes electricity, offers construction services, and manufactures industrial machinery.  In addition, Daesung Industrial invests in venture capital through its subsidiary.

Lotte Shopping Co., Ltd. operates department stores and discount stores in South Korea.  The Company retails clothing, household goods, foods and other items through several branches.  Lotte Shopping also operates supermarkets and movie theaters.

The ODP Corporation is a holding company which operates in the USA. Its subsidiaries include The Office Depot Inc, which operates a chain of office product warehouse stores in North America, Europe, Asia, and Central America. The Company sells branded merchandise and provides business services primarily to small and medium-sized businesses and the home office market.

KOMERI CO., LTD. operates a home center chain based in Niigata Prefecture. The Company sells DIY (do-it-yourself) products, building materials, tools, hardware, household utensils, gardening materials, car care goods, and leisure goods.  Komeri also operates business in China.

Caleres Inc manufactures and distributes footwear. The Company offers shoes, sandals, and heel sandals for men, women, and children.

Guess?, Inc. designs, markets, distributes, and licenses a collection of casual apparel, accessories, and related consumer products.  The Company's apparel for men, women, and girls are marketed under branded names.  Guess? provides full collections of denim and cotton clothing and has granted licenses to manufacture complementary products.

Sally Beauty Holdings, Inc. distributes and retails beauty products.  The Company distributes products directly to salons, and retails beauty products through a chain of cash and carry stores.

Winmark Corporation develops, franchises, and operates value-oriented retail concepts for stores that buy, sell, trade, and consign used and new merchandise. The Company's stores operate under various names, including Play It Again Sports, Once Upon A Child, Music Go Round, and Plato's Closet.

T-GAIA CORPORATION sells cell-phone units and service contracts in Japan. The Company also offers high-speed internet connection service through sales agencies.

Suning.com Co., Ltd. operates retail chain stores to sell household appliances, electronic products, office equipment, and communication products. The Company also provides installation and maintenance services.

DCM Holdings Co., Ltd. is a holding company established through merger of Kahma, Daiki, and Homac.  The Company operates home center chain stores throughout Japan.  DCM Japan Holdings offers merchandise such as home improvement products, household utensils, gardening supplies, sporting/leisure goods, and pet products .

EDION Corporation owns and manages its subsidiaries, DEODEO Corp and EIDEN Co, Ltd.  The Company's subsidiaries operate electronics retail stores.

Hotel Shilla Co.,Ltd operates and manages hotels in Seoul and Jeju. The Company also operates duty free shops, bakeries, restaurants, and catering and laundry service businesses.

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Hotel Shilla (008770 KS)

Top 50 Most Shorted Stocks in KOSPI & KOSDAQ (Short Sale Vol/Free Float Vol)

In this insight, we discuss the top 50 most shorted stocks in KOSPI and KOSDAQ, respectively in terms of Short Sale Volume/Free Float Volume,...

Douglas Kim

Korea Short 350: Loan Balance, Short Interest, & % to 52WH

Korea's short selling will resume on May 3 on the KOSPI 200 and KOSDAQ 150 constituents, called 'Short 350'. This post gathers the loan balance,...

Sanghyun Park

PARTIAL END of Ban on Short Selling of Stocks in Korea

Korea Financial Services Commission (FSC) announced after the market close today that there will be a PARTIAL end of the ban on short selling of...

Douglas Kim

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

Hotel Shilla: A Turnaround Story of Improving Duty-Free Business & A Separation from Samsung Group?

In this insight, we discuss the improving duty-free operations of Hotel Shilla and the implications of the increasing probability of Hotel Shilla...

Douglas Kim

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