Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/huons-global-co-ltd" target="_blank" data-smartkarma-citation="entities:16275:1" rel="noopener">Huons Global (084110 KS)</a> is focusing on new growth drivers such as health functional food, medical devices, and research collaboration to accelerate its earnings further.</li>
<li>Huons’ health functional food brand, Menolacto has become Korea’s no. 1 brand for menopausal lactic acid bacteria and generated cumulative sales of KRW64 billion within two years of its launch.</li>
<li>Through external research collaboration and developing its own pipeline, Huons has a rich pipeline of new products, including new chemical entities, medical devices, and functional foods for the domestic market.</li>
</ul>



Huons Global (084110 KS) is focusing on new growth drivers such as health functional food, medical devices, and research collaboration to accelerate its earnings further.
Huons’ health functional food brand, Menolacto has become Korea’s no. 1 brand for menopausal lactic acid bacteria and generated cumulative sales of KRW64 billion within two years of its launch.
Through external research collaboration and developing its own pipeline, Huons has a rich pipeline of new products, including new chemical entities, medical devices, and functional foods for the domestic market.


Huons Global (084110 KS): Eyeing on the New Business Areas to Secure Long-Term Growth Momentum

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>There are 12 inclusions and 12 exclusions for 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 June rebalance to be implemented at the close on 9 June.</li>
<li>Most of the inclusions were expected, but there are quite a few surprises among the deletions. The impact on the deletions will be higher than that on the inclusions.</li>
<li>The adds have outperformed the deletes and there has been another leg up in the last couple of weeks. Expect the trend to continue till implementation week.</li>
</ul>


There are 12 inclusions and 12 exclusions for the KOSDAQ 150 Index (KOSDQ150 INDEX) at the June rebalance to be implemented at the close on 9 June.
Most of the inclusions were expected, but there are quite a few surprises among the deletions. The impact on the deletions will be higher than that on the inclusions.
The adds have outperformed the deletes and there has been another leg up in the last couple of weeks. Expect the trend to continue till implementation week.


KOSDAQ150 Index Rebalance Preview: A Dozen Changes in June

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<ul>
<li>KRX is expected to announce the KOSDAQ150 rebalance in the next couple of weeks. </li>
<li>An alpha generating trading strategy would be to focus on companies with higher probability of getting deleted in the next round of KOSDAQ rebalance in December.  </li>
<li>These 15 companies are those among the bottom 30 market cap in KOSDAQ150 that are ranked number 16 to 30 in terms of combined market cap and trading value range. </li>
</ul>


KRX is expected to announce the KOSDAQ150 rebalance in the next couple of weeks. 
An alpha generating trading strategy would be to focus on companies with higher probability of getting deleted in the next round of KOSDAQ rebalance in December.  
These 15 companies are those among the bottom 30 market cap in KOSDAQ150 that are ranked number 16 to 30 in terms of combined market cap and trading value range. 


Alpha Generating Trading Strategy of KOSDAQ150 Deletions & Additions in June 2022

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>Here are the tradable stocks for Long/Short position buildups for the KOSDAQ 150 rebalancing in June.</li>
<li>LONG (Additions): Dear U (376300 KS), Vidente (121800 KS), GOLFZON (215000 KS), Hana Micron (067310 KS), Danal (064260 KS), &amp; Intellian Technologies (189300 KS) 
</li>
<li>SHORT (Deletions): Daea Ti (045390 KS), Advanced Process Systems (265520 KS), Unison (018000 KS), Danawa (119860 KS), OE Solutions (138080 KS), &amp; Toptec (108230 KS) 
</li>
</ul>


Here are the tradable stocks for Long/Short position buildups for the KOSDAQ 150 rebalancing in June.
LONG (Additions): Dear U (376300 KS), Vidente (121800 KS), GOLFZON (215000 KS), Hana Micron (067310 KS), Danal (064260 KS), &amp; Intellian Technologies (189300 KS) 

SHORT (Deletions): Daea Ti (045390 KS), Advanced Process Systems (265520 KS), Unison (018000 KS), Danawa (119860 KS), OE Solutions (138080 KS), &amp; Toptec (108230 KS) 



KOSDAQ 150 Rebalancing in June: Safely Tradable Names for Position Buildups at This Point

<ul>
<li>I screened those local buybacks in Korea with a market cap of +₩300B. I further selected those whose buyback volume exceeds 0.5% of SO and buyback completion is below 50%.</li>
<li>I then narrowed them down to those whose buybacks will likely be completed within 30 trading days with a daily buyback x ADTV of 0.15x or higher.</li>
<li>As a result, I obtained nine names: Hwasung Industrial, SK Chemicals, Meritz Securities, Huons Global, Daishin Securities, E-Mart, Meritz Financial Group, Meritz Fire, &amp; Hwaseung Industries
</li>
</ul>


I screened those local buybacks in Korea with a market cap of +₩300B. I further selected those whose buyback volume exceeds 0.5% of SO and buyback completion is below 50%.
I then narrowed them down to those whose buybacks will likely be completed within 30 trading days with a daily buyback x ADTV of 0.15x or higher.
As a result, I obtained nine names: Hwasung Industrial, SK Chemicals, Meritz Securities, Huons Global, Daishin Securities, E-Mart, Meritz Financial Group, Meritz Fire, &amp; Hwaseung Industries



KOSPI/KOSDAQ Buybacks in Progress: Those with High Daily Flow Screened

South Korea

Huons Co., Ltd. manufactures pharmaceutical products.  The Company produces medical drugs in the fields of nervous system, sensory organs, anti-histamines, circulatory system, respiratory system, digestive system, metabolic agents and hormones.

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Huons Global (084110 KS)