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>The initial AUM is 510 billion KRW, a solid start, while TIGER pulled in 200 billion KRW, but KODEX barely exceeded 100 billion—somewhat disappointing.</li>
<li>There's strong potential for more inflows, especially from pension funds. The KRX 300 saw passive inflows rise 30% in two months and 130% in eight months.</li>
<li>We should lower expectations for December's ad-hoc changes, as the 200 billion KRW fund aims to limit impacts by channeling passive capital into excluded assets.</li>
</ul>


The initial AUM is 510 billion KRW, a solid start, while TIGER pulled in 200 billion KRW, but KODEX barely exceeded 100 billion—somewhat disappointing.
There's strong potential for more inflows, especially from pension funds. The KRX 300 saw passive inflows rise 30% in two months and 130% in eight months.
We should lower expectations for December's ad-hoc changes, as the 200 billion KRW fund aims to limit impacts by channeling passive capital into excluded assets.


KRX Official: Value-Up ETFs Launch Nov 4 with ₩510B AUM, but Expect a KRX 300-Like Flow Surge

<ul>
<li>KRX 300 hit 1 trillion won AUM fast, but with local pensions more aggressive, the value-up's early AUM could top 1 trillion, hitting up to 3 trillion in six months.</li>
<li>Hanjin KAL, S1 Corp, Hyundai Elevator, Nice Info, and Huchems are set for strong price action. The financial sector also stands out, seeing the biggest impact compared to other sectors.</li>
<li>Small caps under 1 trillion won see little passive impact, but solid plays exist under 3 trillion, so splitting large and small caps won't limit target options much.</li>
</ul>


KRX 300 hit 1 trillion won AUM fast, but with local pensions more aggressive, the value-up's early AUM could top 1 trillion, hitting up to 3 trillion in six months.
Hanjin KAL, S1 Corp, Hyundai Elevator, Nice Info, and Huchems are set for strong price action. The financial sector also stands out, seeing the biggest impact compared to other sectors.
Small caps under 1 trillion won see little passive impact, but solid plays exist under 3 trillion, so splitting large and small caps won't limit target options much.


Crunching Passive Impact Numbers for KRX Value-Up Index Names, Based on KRX's Free-Float Rate Data

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 short interest of KRX stocks as of Mar 7th which has an aggregated short interest worth USD3.6bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Kakao, Hlb, Samsung Electronics.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Mar 7th which has an aggregated short interest worth USD3.6bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Kakao, Hlb, Samsung Electronics.


KRX Short Interest Weekly (Mar 7th): Kakao, Hlb, Samsung Electronics

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks starting 3 March.</li>
<li>Our top 10 Korean stock picks from 14 to 28 January are down on average 1.8%, slightly outperforming KOSPI which is down 2.2% in the same period.</li>
<li>The top 10 Korean stock picks (bi-weekly) include SL Corp, Korea Electric Terminal, BNK Financial, S1, LX International, Doubleugames, Samsung C&amp;T, Amorepacific Corp (pref), SK Telecom, and POSCO International. </li>
</ul>


In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks starting 3 March.
Our top 10 Korean stock picks from 14 to 28 January are down on average 1.8%, slightly outperforming KOSPI which is down 2.2% in the same period.
The top 10 Korean stock picks (bi-weekly) include SL Corp, Korea Electric Terminal, BNK Financial, S1, LX International, Doubleugames, Samsung C&amp;T, Amorepacific Corp (pref), SK Telecom, and POSCO International. 


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (3 March 2025)

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Jan 3rd which has an aggregated short interest worth USD3.5bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Samsung Biologics (207940 KS).</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jan 3rd which has an aggregated short interest worth USD3.5bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Samsung Biologics (207940 KS).


KRX Short Interest Weekly (Jan 3rd): Samsung Biologics

South Korea

S1 Corporation provides security systems services.  The Company installs, maintains, and sells a variety of security systems used in households, businesses, financial institutions, and automobiles.  S1 also provides guarding services, systems integration services, structural safety diagnosis services.

Price Gauge
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S 1 Corporation (012750 KS)

KRX Official: Value-Up ETFs Launch Nov 4 with ₩510B AUM, but Expect a KRX 300-Like Flow Surge

KRX has officially announced the listing of Value-Up ETFs on November 4, kicking off with a launch AUM of ₩510B. We can also expect a passive...

Sanghyun Park

Crunching Passive Impact Numbers for KRX Value-Up Index Names, Based on KRX's Free-Float Rate Data

This post crunches the passive impact numbers for the KRX Value-up Index constituents, based on KRX's free-float rate data.

Sanghyun Park

KRX Short Interest Weekly (Mar 7th): Kakao, Hlb, Samsung Electronics

We analyzed KRX short interest report for the past week and highlighted short interest changes in Kakao, Hlb, Samsung Electronics.

Ke Yan, CFA, FRM

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (3 March 2025)

In this insight, we provide the top 10 stocks picks and key catalysts in the Korean stock market for the two weeks starting 3 March.

Douglas Kim

KRX Short Interest Weekly (Jan 3rd): Samsung Biologics

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Biologics(207940 KS).

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)