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>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

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>One third of the way through the review period for the June rebalance, we see 11 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>. </li>
<li>One-Way turnover is estimated at 3.88% and the impact on the expected deletions is a lot higher than the impact on the expected inclusions.</li>
<li>The potential adds have outperformed the potential deletes over the last few months. With the potential adds not short sell eligible, there could be more to go here.</li>
</ul>


One third of the way through the review period for the June rebalance, we see 11 potential changes to the KOSDAQ 150 Index (KOSDQ150 INDEX). 
One-Way turnover is estimated at 3.88% and the impact on the expected deletions is a lot higher than the impact on the expected inclusions.
The potential adds have outperformed the potential deletes over the last few months. With the potential adds not short sell eligible, there could be more to go here.


KOSDAQ150 Index Rebalance Preview (Dec 2022): Changes Galore Early in the Review Period

Thematic (Sector/Industry)

As I said in my earlier comment, <a href="https://www.smartkarma.com/entities/22932" target="_blank" data-smartkarma-citation="entities:22932:1">Samsung Biologics Co., Ltd (207940 KS)</a> seems to be benefiting a lot from its inclusion in KOSPI200 index. Perhaps because of this, I am receiving some inquiries about who will be included and excluded in the upcoming reshuffle of KOSPI200 and KOSDAQ150. The decisions were already made and confirmed on May 16, and the changes will be officially made on June 9. But I guess many of us here on Smartkarma community wants a "concise" summary of this reshuffle. So, I…

As I said in my earlier comment, Samsung Biologics Co., Ltd (207940 KS) seems to be benefiting a lot from its inclusion in KOSPI200 index. Perhaps because of this, I am receiving some inquiries about who will be included and excluded in the upcoming reshuffle of KOSPI200 and KOSDAQ150. The decisions were already made and confirmed on May 16, and the changes will be officially made on June 9. But I guess many of us here on Smartkarma community wants a "concise" summary of this reshuffle. So, I…

Summary of KOSPI200 & KOSDAQ150 Upcoming Reshuffle

Netmarble Games is said to have joined the bid for "Playtika". This deal is believed to go as high as USD4bil. Netmarble already submitted a LOI. Playtika is expected to select the preferred bidder within this month.Playtika is a SNS based gambling game company that currently offers a variety of casino-related mobile games. It is headquartered in Israel and was acquired by Caesars Entertainment Corp. at USD100mil in 2011.Surely, Playtika is one of the hottest game companies in the world with…

Netmarble Games is said to have joined the bid for "Playtika". This deal is believed to go as high as USD4bil. Netmarble already submitted a LOI. Playtika is expected to select the preferred bidder within this month.Playtika is a SNS based gambling game company that currently offers a variety of casino-related mobile games. It is headquartered in Israel and was acquired by Caesars Entertainment Corp. at USD100mil in 2011.Surely, Playtika is one of the hottest game companies in the world with…

Playtika Deal for Netmarble: Timely Move for IPO

Hon Hai finally acquired Sharp. Interestingly, some local industrial sources are saying that the real reason behind this acquisition is to obtain OLED technology from Sharp for Hon Hai to enter the global “OLED” display market.In fact, Reuters reported yesterday that Hon Hai aims to gain access to promising technology for high-end OLED screens likely to be used in future devices from Apple Inc, the electronics assembler's biggest customer. (News source: <a href="http://www.reuters.com/article/us-sharp-hon-hai-oled-idUSKCN0WX1KN" target="_blank">Foxconn's $3.5 billion bet to keep up with</a>…

Hon Hai finally acquired Sharp. Interestingly, some local industrial sources are saying that the real reason behind this acquisition is to obtain OLED technology from Sharp for Hon Hai to enter the global “OLED” display market.In fact, Reuters reported yesterday that Hon Hai aims to gain access to promising technology for high-end OLED screens likely to be used in future devices from Apple Inc, the electronics assembler's biggest customer. (News source: Foxconn's $3.5 billion bet to keep up with…

Hon Hai's Sharp Acquisition Triggering OLED Panel Competition - Why Buy Duk San Neolux Now?

South Korea

ISC Co., Ltd. manufactures semiconductor testing equipments such as test sockets, burn-in sockets, and interposers. Testing equipments are used in the final testing process of semiconductors including DRAM, NAND/NOR Flash Memory, and Graphic Processing Unit(GPU) and are supplied to semiconductor manufacturers  abroad.

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ISC Co Ltd (095340 KS)

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

KOSDAQ150 Index Rebalance Preview (Dec 2022): Changes Galore Early in the Review Period

One third of the way through the review period, we see 11 potential changes. The potential adds have outperformed the potential deletes and there...

Brian Freitas

Summary of KOSPI200 & KOSDAQ150 Upcoming Reshuffle

As I said in my earlier comment, Samsung Biologics Co., Ltd (207940 KS) seems to be benefiting a lot from its inclusion in KOSPI200 index. Perhaps...

Sanghyun Park

Playtika Deal for Netmarble: Timely Move for IPO

Netmarble Games is said to have joined the bid for "Playtika". This deal is believed to go as high as USD4bil. Netmarble already submitted a LOI....

Sanghyun Park

Hon Hai's Sharp Acquisition Triggering OLED Panel Competition - Why Buy Duk San Neolux Now?

Hon Hai finally acquired Sharp. Interestingly, some local industrial sources are saying that the real reason behind this acquisition is to obtain...

Sanghyun Park

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