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>Korea's majority party plans to amend the Capital Markets Act to base listed companies' merger ratios on intrinsic rather than market value, dubbed the "Doosan Bobcat Prevention Law."</li>
<li>Other conglomerates, like Hanwha and Hyundai Motor Group, may execute mergers just before this amendment.</li>
<li>We should expect shareholder-favorable merger ratios. So, we should position in such companies before announcements, ideally just before the new amendment's enforcement.</li>
</ul>


Korea's majority party plans to amend the Capital Markets Act to base listed companies' merger ratios on intrinsic rather than market value, dubbed the "Doosan Bobcat Prevention Law."
Other conglomerates, like Hanwha and Hyundai Motor Group, may execute mergers just before this amendment.
We should expect shareholder-favorable merger ratios. So, we should position in such companies before announcements, ideally just before the new amendment's enforcement.


Trading Opportunities Arising from the Enactment of The "Doosan Bobcat Prevention Law"

<ul>
<li>Finding a trading entry point during a stock dividend event is tough, but locally, stock prices often rise post-ex-rights date and stabilize after listing, over 70% of the time.</li>
<li>There’s speculation that local flow trading, mainly driven by local prop traders, might target this pattern in Glovis’s stock dividend as well.</li>
<li>While I wouldn’t recommend banking on this probabilistic trading setup, it's important to be aware that this could significantly impact stock movements from the ex-rights date to the listing date.</li>
</ul>


Finding a trading entry point during a stock dividend event is tough, but locally, stock prices often rise post-ex-rights date and stabilize after listing, over 70% of the time.
There’s speculation that local flow trading, mainly driven by local prop traders, might target this pattern in Glovis’s stock dividend as well.
While I wouldn’t recommend banking on this probabilistic trading setup, it's important to be aware that this could significantly impact stock movements from the ex-rights date to the listing date.


Potential Recurrence of Local Flow Trade Patterns in Hyundai Glovis's Stock Dividend Event

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Oct 25th which has an aggregated holding worth USD520.0bn.</li>
<li>We estimate that foreign flows to be outflows of USD442mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Sk Hynix, Samsung Electronics, Kia.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Oct 25th which has an aggregated holding worth USD520.0bn.
We estimate that foreign flows to be outflows of USD442mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Sk Hynix, Samsung Electronics, Kia.


KRX Foreign Holding Weekly (Oct 25th): Sk Hynix, Samsung Electronics, Kia

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Oct 18th which has an aggregated holding worth USD524.8bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,097mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Sk Hynix, Samsung Electronics, Korzinc, Kia.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Oct 18th which has an aggregated holding worth USD524.8bn.
We estimate that foreign flows to be outflows of USD1,097mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Sk Hynix, Samsung Electronics, Korzinc, Kia.


KRX Foreign Holding Weekly (Oct 18th): Sk Hynix, Samsung Electronics, Korzinc, Kia

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Oct 11th which has an aggregated holding worth USD532.4bn.</li>
<li>We estimate that foreign flows to be inflows of USD61mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Sk Hynix, Hanwha Aerospace, Korzinc, Samsung Electronics, Samsung Elec (PREF).</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Oct 11th which has an aggregated holding worth USD532.4bn.
We estimate that foreign flows to be inflows of USD61mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Sk Hynix, Hanwha Aerospace, Korzinc, Samsung Electronics, Samsung Elec (PREF).


KRX Foreign Holding Weekly (Oct 11th): Sk Hynix, Hanwha Aerospace, Korzinc, Samsung Electronics

South Korea

Hyundai Glovis Co., Ltd. provides domestic and international logistic services. The Company's services include domestic transportation, storage, packaging, vehicle logistic, and logistic consulting.  GLOVIS also runs automobile auction market for used vehicle.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Hyundai Glovis (086280 KS)

Trading Opportunities Arising from the Enactment of The "Doosan Bobcat Prevention Law"

This post explores trading opportunities expected from the upcoming "Doosan Bobcat Prevention Law," as labeled by the local market.

Sanghyun Park

Potential Recurrence of Local Flow Trade Patterns in Hyundai Glovis's Stock Dividend Event

This post analyzes the potential recurrence of local flow trade patterns, mainly driven by local proprietary traders, in Hyundai Glovis's 100%...

Sanghyun Park

KRX Foreign Holding Weekly (Oct 25th): Sk Hynix, Samsung Electronics, Kia

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Sk Hynix, Samsung Electronics, Kia.

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Oct 18th): Sk Hynix, Samsung Electronics, Korzinc, Kia

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Sk Hynix, Samsung Electronics, Korzinc, Kia.

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Oct 11th): Sk Hynix, Hanwha Aerospace, Korzinc, Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Sk Hynix, Hanwha Aerospace, Korzinc, Samsung...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)