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

Mirae Asset TIGER Secondary Cell ETF / Event-Driven

<ul>
<li>In general, the projection hit rate for the top market cap constituents was sufficiently high. And the correlation between their stock price direction and passive flow was also high.</li>
<li>However, the projection hit rate for the constituents with a small market cap was relatively low.</li>
<li>If we traded the proposed tradable names with an equal-weighted Long/Short basket, we would have achieved a return of 1.76%. Even excluding Hanjin Kal, we would have achieved 1.31%.</li>
</ul>


In general, the projection hit rate for the top market cap constituents was sufficiently high. And the correlation between their stock price direction and passive flow was also high.
However, the projection hit rate for the constituents with a small market cap was relatively low.
If we traded the proposed tradable names with an equal-weighted Long/Short basket, we would have achieved a return of 1.76%. Even excluding Hanjin Kal, we would have achieved 1.31%.


Recap on WISE Theme Indexes (TIGER ETFs) Rebalancing Trading on April 14

<ul>
<li>Three WISE theme indexes undergo quarterly rebalancing today at the close.</li>
<li>The flow projections shown below in the DETAIL are based on the closing prices of April 12.</li>
<li>We have 13 Long/Short tradable names based on these flow projections: an ADTV of at least ₩10B &amp; a passive flow impact of 0.10x ADTV or more</li>
</ul>


Three WISE theme indexes undergo quarterly rebalancing today at the close.
The flow projections shown below in the DETAIL are based on the closing prices of April 12.
We have 13 Long/Short tradable names based on these flow projections: an ADTV of at least ₩10B &amp; a passive flow impact of 0.10x ADTV or more


WISE Theme Indexes Rebalancing Today: Flow Projections as of Close on April 12

Mirae Asset Tiger Tour Leisure ETF / Event-Driven

<ul>
<li>Next Thursday, the rebalancing trading of the WISE Secondary Cell Index will occur. The current AUM is ₩0.24T, and the AUM has slightly increased in the last two weeks.</li>
<li>Five names (2 Longs &amp; 3 Shorts) are screened: <strong>Hana Tour Service, Lotte Tour Development, Asiana Airlines, Paradise Co Ltd, &amp; Hanjin KAL Corp</strong>.</li>
<li>All the short targets are available for short-selling. The Long targets have also not seen much volatility recently, so it looks fine to put them all in a Long/Short basket.</li>
</ul>


Next Thursday, the rebalancing trading of the WISE Secondary Cell Index will occur. The current AUM is ₩0.24T, and the AUM has slightly increased in the last two weeks.
Five names (2 Longs &amp; 3 Shorts) are screened: Hana Tour Service, Lotte Tour Development, Asiana Airlines, Paradise Co Ltd, &amp; Hanjin KAL Corp.
All the short targets are available for short-selling. The Long targets have also not seen much volatility recently, so it looks fine to put them all in a Long/Short basket.


WISE Tour Leisure Rebalancing (TIGER ETF): Long/Short Tradable Names

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

<ul>
<li>In this insight, we discuss the recent COVID-19 stats including cases, deaths, and recovery/death rates.</li>
<li>In addition, we analyze the easing of travel restrictions among major Asian countries including Australia, India, Japan, Singapore, Thailand, and South Korea. </li>
<li>More countries are treating COVID-19 not as a pandemic but as a serious flu. </li>
</ul>


In this insight, we discuss the recent COVID-19 stats including cases, deaths, and recovery/death rates.
In addition, we analyze the easing of travel restrictions among major Asian countries including Australia, India, Japan, Singapore, Thailand, and South Korea. 
More countries are treating COVID-19 not as a pandemic but as a serious flu. 


A Review of COVID-19 Cases & The Easing of Travel Restrictions in Major Asian Countries

<ul>
<li>Here are the top 30 most shorted stocks on KOSPI 200 over the last five trading days, by short-selling volume as a % of the accumulated trade volume.</li>
<li>I then sorted out those with a short-selling volume exceeding 10% of the accumulated trade volume during these five trading days and a 30-day ADTV of +₩3B.</li>
<li>And another additional condition was an increase in the loan balance during the same period. As a result, six names came up as having a high potential of price decline.</li>
</ul>


Here are the top 30 most shorted stocks on KOSPI 200 over the last five trading days, by short-selling volume as a % of the accumulated trade volume.
I then sorted out those with a short-selling volume exceeding 10% of the accumulated trade volume during these five trading days and a 30-day ADTV of +₩3B.
And another additional condition was an increase in the loan balance during the same period. As a result, six names came up as having a high potential of price decline.


Most Shorted Stocks on KOSDAQ 150 in Last 5 Days

South Korea

Paradise Co., Ltd. is a gaming company that operates casino facilities in South Korea and Kenya.  The Company offers games, such as roulette, black jack, baccarat, and big wheel.  Paradise, through its subsidiaries, operates retail and hotel business.

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Paradise Co Ltd (034230 KS)

Recap on WISE Theme Indexes (TIGER ETFs) Rebalancing Trading on April 14

This post is a recap of our flow trading on the WISE Theme Indexes (TIGER ETFs) rebalancing, which was carried out on April 14.

Sanghyun Park

WISE Theme Indexes Rebalancing Today: Flow Projections as of Close on April 12

Three WISE Theme Indexes undergo quarterly rebalancing today at the close. This post screens 13 tradable names for a Long/Short basket day trading.

Sanghyun Park

WISE Tour Leisure Rebalancing (TIGER ETF): Long/Short Tradable Names

This post recommends Long/Short tradable names for the rebalancing trading event of the WISE Tour Leisure Index (TIGER ETF) next Thursday.

Sanghyun Park

A Review of COVID-19 Cases & The Easing of Travel Restrictions in Major Asian Countries

We discuss the recent COVID-19 stats including cases, deaths, and recovery/death rates in major Asian countries. More countries are treating COVID...

Douglas Kim

Most Shorted Stocks on KOSDAQ 150 in Last 5 Days

This post examines the most shorted stocks on KOSDAQ 150 and sorts out six names as having a high potential of price decline.

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)