Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<ul>
<li>FSS provided further details as to the number of Korean companies that plan to change their dividend payout system to their shareholders in 2024.</li>
<li>There are 636 companies out of a total 2,267 listed companies in Korea (28%) that have confirmed that they will change their dividend payout system starting 2024.</li>
<li>As listed companies set different voting rights and dividend record dates from the end of the year, investors need to check the dividend record date and dividend amount before investing.</li>
</ul>


FSS provided further details as to the number of Korean companies that plan to change their dividend payout system to their shareholders in 2024.
There are 636 companies out of a total 2,267 listed companies in Korea (28%) that have confirmed that they will change their dividend payout system starting 2024.
As listed companies set different voting rights and dividend record dates from the end of the year, investors need to check the dividend record date and dividend amount before investing.


FSS Provides Further Details of Korean Companies That Plan to Change Dividend Payout System in 2024

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

Event-Driven

<ul>
<li>The review period for the September rebalance of the KOSPI Size Indices started 1 June and will end 31 August. The changes will be implemented at the close 7 September.</li>
<li>We see 7 migrations from MidCap to LargeCap, 6 migrations from LargeCap to MidCap, 7 new adds to MidCap, and 17 migrations from SmallCap to MidCap.</li>
<li>Historically, stocks migrating from SmallCap to MidCap have outperformed stocks that are migrating between other categories.</li>
</ul>


The review period for the September rebalance of the KOSPI Size Indices started 1 June and will end 31 August. The changes will be implemented at the close 7 September.
We see 7 migrations from MidCap to LargeCap, 6 migrations from LargeCap to MidCap, 7 new adds to MidCap, and 17 migrations from SmallCap to MidCap.
Historically, stocks migrating from SmallCap to MidCap have outperformed stocks that are migrating between other categories.


KOSPI Size Indices - Plenty of Migrations to Attract Active Flows

<ul>
<li>The review period for the September rebalance of the KOSPI Size Indices started 1 June and will end 31 August. The changes will be implemented at the close 7 September.</li>
<li>We see 8 migrations from MidCap to LargeCap, 7 migrations from LargeCap to MidCap, 6 new adds to MidCap, and 16 migrations from SmallCap to MidCap.</li>
<li>Historically, stocks migrating from SmallCap to MidCap have outperformed stocks that are migrating between other categories.</li>
</ul>


The review period for the September rebalance of the KOSPI Size Indices started 1 June and will end 31 August. The changes will be implemented at the close 7 September.
We see 8 migrations from MidCap to LargeCap, 7 migrations from LargeCap to MidCap, 6 new adds to MidCap, and 16 migrations from SmallCap to MidCap.
Historically, stocks migrating from SmallCap to MidCap have outperformed stocks that are migrating between other categories.


KOSPI Size Indices - Plenty of Overlap With Other Index Flows

<ul>
<li>There were five stocks in Korea that dropped limit down (30%) today. They included Pang Rim, Dongil Industries, Manho Rope &amp; Wire, Taihan Textile, and Dongil Metal.</li>
<li>The share price decline of these five stocks are similar to the crash in eight stocks in Korea in April which were related to CFD derivatives related margin call selling. </li>
<li>Domestic securities firms in Korea have been trying to significantly reduce their exposure to CFD related trading and in this process, these sharp drops could be caused by this selling.</li>
</ul>


There were five stocks in Korea that dropped limit down (30%) today. They included Pang Rim, Dongil Industries, Manho Rope &amp; Wire, Taihan Textile, and Dongil Metal.
The share price decline of these five stocks are similar to the crash in eight stocks in Korea in April which were related to CFD derivatives related margin call selling. 
Domestic securities firms in Korea have been trying to significantly reduce their exposure to CFD related trading and in this process, these sharp drops could be caused by this selling.


5 Stocks in Korea Drop Limit Down - Caused by CFD Derivatives Related Margin Call Again?

<ul>
<li>Key insiders at Seoul City Gas (017390 KS) and Daou Data Corp (032190 KS) sold their shares before the recent crash.</li>
<li>On 28 April, it was reported that Kim Young-Min (Seoul City Gas Chairman) sold 2% of Seoul City Gas on 20 April, resulting in net sales of 45.7 billion won.</li>
<li>These Korean companies are two of the eight stocks related to the CFD derivatives sell-down that have been crashing in the past week. </li>
</ul>


Key insiders at Seoul City Gas (017390 KS) and Daou Data Corp (032190 KS) sold their shares before the recent crash.
On 28 April, it was reported that Kim Young-Min (Seoul City Gas Chairman) sold 2% of Seoul City Gas on 20 April, resulting in net sales of 45.7 billion won.
These Korean companies are two of the eight stocks related to the CFD derivatives sell-down that have been crashing in the past week. 


Insiders At Seoul City Gas and Daou Data Corp Sell Shares Before the Crash

South Korea

Seoul City Gas Co., Ltd. supplies imported liquefied natural gas (LNG) for residential heating and cooking, for commercial heating and air conditioning, and for industrial purposes. The Company is also involved in the design and construction of gas supply facilities and the development of gas-related equipment and facilities.

E1 Corp. imports and sells liquefied petroleum gas (LPG). The Company supplies its gas to the domestic market.

KyungDong City Gas Co., Ltd. provides gas to eastern regions of Gyeongnam area in Korea.  The Company also maintains and sets up its piping works for gas distribution.

YESCO Co., Ltd. distributes liquefied natural gas (LNG) domestically in South Korea. The Company also provides LNG piping work services and installs gas equipment.

Daesung Energy Co., Ltd. supplies imported LNG (Liquified Natural Gas) for residential heating and cooking, commercial heating, air conditioning, and for industrial purposes.

Daesung Holdings Co., Ltd., an energy company, specializes in distributing liquefied natural gas (LNG) in Daegu area.  The Company also provides pipe installation services. Daegu supplies gas for commercial, residential, and industrial purposes.

Incheon City Gas Co., Ltd. provides city gas in Incheon region and builds infrastructure to provide its service.  The company also provides maintenance services for gas pipe line and other related infrastructure.

GSE Co., Ltd. wholesales, and distributes liquefied natural gas (LNG) and      l iquefied petroleum gas (LPG). The company also develops Internet infrastructure software for e-business.

Hanjin Heavy Industries & Construction Holdings Co.,Ltd. through its subsidiaries, invests in, develops and manages diverse line of businesses.  The Company operates gas distribution, engineering, leisure, and real estate businesses. Hanjin invests in shipbuilding, transportation, and constructions.

Hanjin Heavy Ind & Const Holdings (003480 KS)

Korea Gas Corporation manufactures, wholesales, and distributes liquefied natural gas (LNG) and liquefied petroleum gas (LPG) throughout South Korea. The Company also constructs and operates LNG receiving terminals and supplying networks for domestic distribution.  Korea Gas invests in LNG suppliers in Oman and Qatar.

KEIYO GAS CO., LTD. produces and sells gas to Western Chiba area.  The Company provides gas and energy products mainly for residential customers.  Keiyo Gas also manufactures and sells gas appliances such as water heaters and alarms.

Binhai Investment Company Ltd, through its subsidiaries, operates gas businesses.  The Company constructs gas pipeline networks, provides piped gas to customers in mainland China, wholesales and retails liquefied petroleum gas (LPG) by way of refueling gas cylinders or tanks for domestic, industrial and commercial customers, and sell LPG equipment and domestic gas appliances.

Shin Shin Natural Gas Co., Ltd. distributes natural gas to household and non-industrial customers in Chung-Ho, Yung-Ho, Shin-Tien, and Shen-Keng of Taipei Hsien as well as Wen-Shan District of Taipei City.  Also, the Company sells gas equipment.

Xinjiang Torch Gas Co., Ltd. provides natural gas distribution services. The Company offers gas transmission, gas distribution, pipeline maintenance, and other related services. Xinjiang Torch Gas also sells pipe fittings, gas appliances, and accessories.

China Oil and Gas Group Ltd. is engaged in the investments in, and the operation and management of the natural gas and energy related business. Gas operations include city piped gas business, natural gas vehicle refilling stations, pipeline construction and operation, as well as transportation, delivery and distribution of compressed natural gas (CNG) and liquefied natural gas (LNG).

Shin Hai Gas Corporation distributes natural gas to household, industrial, and commercial customers in Taipei area.  The Company also installs and supplies gas distribution equipment and provides broad band internet services.

HIROSHIMA GAS CO., LTD. produces and supplies natural gas and liquefied petroleum gas (LPG) in Chugoku region.  The Company serves residential, commercial, and industrial customers.  Hiroshima gas also constructs and maintains gas supply lines.  Additionally, the Company sells and leases gas appliances such as alarms.

Hsin-Kao Gas Company Ltd. distributes natural gas to household and commercial customers in the Kaohsiung area. The Company also sells and installs gas equipment.

Hsin Tai Gas Co., Ltd. distributes natural gas to household customers in Shulin, Tuchen, Sanhsia, Yinko, Luchou, Taishan, Wuku, Bali, and Linko of Taipei Hsien. The Company also sells gas equipment and provides installation services.

PetroVietnam Low Pressure Gas Distribution Joint Stock Company trades and transports low pressure gas through pipelines in Vietnam. The company trades and transports natural gas, liquefied natural gas, compressed natural gas, liquefied petroleum gas, and others. It is also involved in the trade of industrial gas, equipment, machines, chemical equipment, and means of transportation of petroleum sector. In addition, the company provides consulting and transfer technology services; and constructs industrial works, pipeline systems, stocks, and stations for petroleum sector. Further, it trades in, installs, repairs, and maintains conversion devices for means of transportation and machinery equipment of the agriculture, forestry, and fishery sectors; and executes to construct the technical infrastructure for industrial and residential areas. The company was formerly known as Vung Tau Low Pressure Gas Trading Enterprise. PetroVietnam Low Pressure Gas Distribution Joint Stock Company was founded in 2002 and is headquartered in Ho Chi Minh City, Vietnam.

PetroVietnam Low Pressure Gas Distribution (PGD VN)

PetroVietnam Low Pressure Gas Distribution

Samchully Co., Ltd. an energy company, specializes in distributing liquefied natural gas (LNG) in Incheon City and the Gyeonggi area.  The Company also distributes gas equipment including gas heaters, ranges, and ovens.  In addition, Samchully operates discount store and real estate leasing business.

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Samchully (004690 KS)

FSS Provides Further Details of Korean Companies That Plan to Change Dividend Payout System in 2024

There are 636 companies out of a total 2,267 listed companies in Korea (28%) that have confirmed that they will change their dividend payout system...

Douglas Kim

KOSPI Size Indices - Plenty of Migrations to Attract Active Flows

We currently forecast 53 migrations for the KOSPI Size Indices. There are stocks that are potential KOSPI200 adds in December and others that will...

Brian Freitas

KOSPI Size Indices - Plenty of Overlap With Other Index Flows

We currently forecast 52 changes for the KOSPI Size Indices. While there are few passive assets tracking these indices, they are used by active...

Brian Freitas

Insiders At Seoul City Gas and Daou Data Corp Sell Shares Before the Crash

Key insiders at Seoul City Gas and Daou Data sold their shares before the recent crash.These Korean companies are two of the eight stocks related...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

FSS Provides Further Details of Korean Companies That Plan to Change Dividend Payout System in 2024

There are 636 companies out of a total 2,267 listed companies in Korea (28%) that have confirmed that they will change their dividend payout system...

Douglas Kim

KOSPI Size Indices - Plenty of Migrations to Attract Active Flows

We currently forecast 53 migrations for the KOSPI Size Indices. There are stocks that are potential KOSPI200 adds in December and others that will...

Brian Freitas

KOSPI Size Indices - Plenty of Overlap With Other Index Flows

We currently forecast 52 changes for the KOSPI Size Indices. While there are few passive assets tracking these indices, they are used by active...

Brian Freitas

5 Stocks in Korea Drop Limit Down - Caused by CFD Derivatives Related Margin Call Again?

There were five stocks in Korea that dropped limit down (30%) today, which could have been due to another round of CFD derivatives related margin...

Douglas Kim

Insiders At Seoul City Gas and Daou Data Corp Sell Shares Before the Crash

Key insiders at Seoul City Gas and Daou Data sold their shares before the recent crash.These Korean companies are two of the eight stocks related...

Douglas Kim