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>The 2nd screening only deals with those who have passed the 1st screening. The 2nd screening does NOT include the first company to cross the threshold.</li>
<li>Lotte Confectionery will be the only addition to the KOSPI 200. Samyang Holdings or Hyundai Home Shopping Network will leave the index.</li>
<li>There will be ten changes in the KOSDAQ 150: eight regular &amp; two special entries. WCP's special entry still seems uncertain due to the GICS classification issue.</li>
</ul>


The 2nd screening only deals with those who have passed the 1st screening. The 2nd screening does NOT include the first company to cross the threshold.
Lotte Confectionery will be the only addition to the KOSPI 200. Samyang Holdings or Hyundai Home Shopping Network will leave the index.
There will be ten changes in the KOSDAQ 150: eight regular &amp; two special entries. WCP's special entry still seems uncertain due to the GICS classification issue.


KOSPI 200 & KOSDAQ 150: Rule Clarifications & Rebalancing Predictions

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<ul>
<li>This article discusses the potential inclusions and exclusions of KOSDAQ 150 rebalance in December 2022 (especially those that are highlighted by the locals). </li>
<li>The stocks that are potential inclusions in the KOSDAQ 150 index include Sungeel Hitech (365340 KS), HPSP (403870 KS), and CanriaBio. We highlighted 8 companies in the potential inclusion list.</li>
<li>The potential exclusions in the KOSDAQ 150 index include Cmg Pharmaceutical (058820 KS), AptaBio Therapeutics (293780 KS), and Eugene Corp (023410 KS). </li>
</ul>


This article discusses the potential inclusions and exclusions of KOSDAQ 150 rebalance in December 2022 (especially those that are highlighted by the locals). 
The stocks that are potential inclusions in the KOSDAQ 150 index include Sungeel Hitech (365340 KS), HPSP (403870 KS), and CanriaBio. We highlighted 8 companies in the potential inclusion list.
The potential exclusions in the KOSDAQ 150 index include Cmg Pharmaceutical (058820 KS), AptaBio Therapeutics (293780 KS), and Eugene Corp (023410 KS). 


KOSDAQ 150 Rebalance in December Highlighted by Locals

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

<ul>
<li>With 85% of the review period complete, we see 10 potential changes to the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index (KOSDQ150 INDEX)</a> at the December rebalance.</li>
<li>There are a few stocks that are close adds/deletes on market cap and liquidity and could make it into the final list depending on price/volume over the next few weeks.</li>
<li>The potential adds have outperformed the potential deletes over the last month and pre-positioning could continue till the end of the review period.</li>
</ul>


With 85% of the review period complete, we see 10 potential changes to the KOSDAQ 150 Index (KOSDQ150 INDEX) at the December rebalance.
There are a few stocks that are close adds/deletes on market cap and liquidity and could make it into the final list depending on price/volume over the next few weeks.
The potential adds have outperformed the potential deletes over the last month and pre-positioning could continue till the end of the review period.


KOSDAQ150 Index Rebalance Preview: Moving in the Right Direction

<ul>
<li>KOSDAQ 150's December rebalancing will feature seven regular changes and two special entries.</li>
<li>Among the additions, we should focus on Dear U and ISC, which have a balanced level of liquidity and flow, rather than those theme stocks with high volatility.</li>
<li>As for Nature Holdings, Eoflow, and Nextin, I suggest a more aggressive entry point due to low trading volume. Then, I'd basket-trade the deletions on equal weight.</li>
</ul>


KOSDAQ 150's December rebalancing will feature seven regular changes and two special entries.
Among the additions, we should focus on Dear U and ISC, which have a balanced level of liquidity and flow, rather than those theme stocks with high volatility.
As for Nature Holdings, Eoflow, and Nextin, I suggest a more aggressive entry point due to low trading volume. Then, I'd basket-trade the deletions on equal weight.


KOSDAQ 150 Rebalancing: 7 Regular Changes + 2 Special Entries

<ul>
<li>We discuss end of the mandatory lock-up periods for 42 stocks in Korea in October 2022, among which 7 are in KOSPI and 35 are in KOSDAQ.</li>
<li>These 42 stocks on average could be subject to further selling pressures in October and could underperform relative to the market. </li>
<li>Among these 42 stocks, the top 3 market cap stocks include NH Investment &amp; Securities, Sungeel Hitech, and Dongwon Systems. They could be exposed to greater selling pressures in October. </li>
</ul>


We discuss end of the mandatory lock-up periods for 42 stocks in Korea in October 2022, among which 7 are in KOSPI and 35 are in KOSDAQ.
These 42 stocks on average could be subject to further selling pressures in October and could underperform relative to the market. 
Among these 42 stocks, the top 3 market cap stocks include NH Investment &amp; Securities, Sungeel Hitech, and Dongwon Systems. They could be exposed to greater selling pressures in October. 


End of Mandatory Lock-Up Periods for 42 Companies in Korea in October 2022

South Korea

HPSP Co., Ltd operates as a manufacturing company. The Company manufactures semiconductor devices, systems and others. HPSP also provides related solution services.

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HPSP (403870 KS)

KOSPI 200 & KOSDAQ 150: Rule Clarifications & Rebalancing Predictions

This post clarifies some vague rules of the KOSPI 200 & KOSDAQ 150 rebalancing and discusses the constituent changes in the December review.

Sanghyun Park

KOSDAQ 150 Rebalance in December Highlighted by Locals

This article discusses the potential inclusions and exclusions of KOSDAQ 150 rebalance in December 2022 (especially those that are highlighted by...

Douglas Kim

KOSDAQ150 Index Rebalance Preview: Moving in the Right Direction

There could be 10 changes to the KOSDAQ150 Index in December. There are a few stocks that are close adds/deletes. The potential adds have...

Brian Freitas

KOSDAQ 150 Rebalancing: 7 Regular Changes + 2 Special Entries

KOSDAQ 150 rebalancing in December will feature 7 regular changes and 2 special entries. This post details the screening results and the resulting...

Sanghyun Park

End of Mandatory Lock-Up Periods for 42 Companies in Korea in October 2022

We discuss end of the mandatory lock-up periods for 42 stocks in Korea in October 2022, among which 7 are in KOSPI and 35 are in KOSDAQ.

Douglas Kim

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52-week Range

Market Cap (USDm)

P/E

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