Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>On 29 August, the three major POSCO Group companies including POSCO Holdings announced that they plan to provide detailed explanations of their Corporate Value Up plans in 4Q 2024. </li>
<li>In general, the companies that have provided more detailed plans for their Corporate Value Up plans have done better recently. </li>
<li>However, now there are cases such as the three main POSCO Group companies whose share prices are rising just by announcing that they will provide Corporate Value Up plans later.</li>
</ul>


On 29 August, the three major POSCO Group companies including POSCO Holdings announced that they plan to provide detailed explanations of their Corporate Value Up plans in 4Q 2024. 
In general, the companies that have provided more detailed plans for their Corporate Value Up plans have done better recently. 
However, now there are cases such as the three main POSCO Group companies whose share prices are rising just by announcing that they will provide Corporate Value Up plans later.


POSCO Group Corporate Value Pre-Announcements: Trading Angle

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 Aug 30th which has an aggregated holding worth USD581.5bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,386mln. 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 foreign changes in Sk Hynix (000660 KS), Samsung Electronics (005930 KS).</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Aug 30th which has an aggregated holding worth USD581.5bn.
We estimate that foreign flows to be outflows of USD1,386mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Sk Hynix (000660 KS), Samsung Electronics (005930 KS).


KRX Foreign Holding Weekly (Aug 30th): Sk Hynix, Samsung Electronics

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>South Korean Financials are experiencing a significant increase in fund ownership. Average fund weights are approaching record highs at 1.94%, with a record 52% positioned overweight.</li>
<li>At the fund level, a strong buy-side bias is evident, with 37 funds opening positions compared to just 3 closures over the last 6-months.</li>
<li>Strong ownership momentum in KB Financial, DB Insurance, Shinhan Financial, and SK Square have contributed to the sector-wide bullishness.</li>
</ul>


South Korean Financials are experiencing a significant increase in fund ownership. Average fund weights are approaching record highs at 1.94%, with a record 52% positioned overweight.
At the fund level, a strong buy-side bias is evident, with 37 funds opening positions compared to just 3 closures over the last 6-months.
Strong ownership momentum in KB Financial, DB Insurance, Shinhan Financial, and SK Square have contributed to the sector-wide bullishness.


South Korean Financials:  Conviction Move Higher in Positioning

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Aug 23rd which has an aggregated holding worth USD593.0bn.</li>
<li>We estimate that foreign flows to be inflows of USD995mln. 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 foreign changes in Samsungelec (005930 KS), Sk Hynix (000660 KS), Hyundaimtr (005380 KS).</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Aug 23rd which has an aggregated holding worth USD593.0bn.
We estimate that foreign flows to be inflows of USD995mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Samsungelec (005930 KS), Sk Hynix (000660 KS), Hyundaimtr (005380 KS).


KRX Foreign Holding Weekly (Aug 23rd): Samsungelec, Sk Hynix, Hyundaimtr

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Aug 16th which has an aggregated holding worth USD550.5bn.</li>
<li>We estimate that foreign flows to be inflows of USD260mln. 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 foreign changes in Samsung Electronics, Sk Hynix, Naver.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Aug 16th which has an aggregated holding worth USD550.5bn.
We estimate that foreign flows to be inflows of USD260mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight foreign changes in Samsung Electronics, Sk Hynix, Naver.


KRX Foreign Holding Weekly (Aug 16th): Samsung Electronics, Sk Hynix, Naver

South Korea

KB Financial Group Inc. (the "Company"), in accordance with Financial Holding Companies Act, was established on September 29, 2008, through stock transfer with the former shareholders of its subsidiaries including Kookmin Bank in order to provide management services and financing to associated companies. The headquarters are located at Seoul, Korea

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KB Financial (105560 KS)

POSCO Group Corporate Value Pre-Announcements: Trading Angle

There could be some interesting trading angles for POSCO Holdings, POSCO Future M, and POSCO International in the next several months, ahead of the...

Douglas Kim

KRX Foreign Holding Weekly (Aug 30th): Sk Hynix, Samsung Electronics

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

Ke Yan, CFA, FRM

South Korean Financials: Conviction Move Higher in Positioning

South Korean Financials are experiencing a significant increase in fund ownership. Average fund weights are approaching record highs at 1.94%,...

Steven Holden

KRX Foreign Holding Weekly (Aug 23rd): Samsungelec, Sk Hynix, Hyundaimtr

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsungelec, Sk Hynix, Hyundaimtr.

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Aug 16th): Samsung Electronics, Sk Hynix, Naver

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

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)