Founder/CEO of ROK Advisory, ROK Advisory LLC

Ken S. Kim

Founder/CEO of ROK Advisory

ROK Advisory LLC

ROK is an independent research advisory firm. We guide you to minimize the information gap between foreign and local investors in Northeast Asia with a focus in Korea, Taiwan and Japan.

Independent Research Advisory Firm

Equity Bottom-Up

<p>Update of <a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron Technology (MU US)</a> earnings,  making sense of the different inventory situation between the investment outlook and strategy as we head into 4Q20 and into 2021.   While the expected recovery was pushed back to 2H21 from <a href="https://www.smartkarma.com/entities/micron-technology-inc" target="_blank" data-smartkarma-citation="entities:13382:1" rel="noopener">Micron Technology (MU US)</a> hurt sentiment, we still believe it is an excellent chance to BUY and here's why.</p>

Update of Micron Technology (MU US) earnings,  making sense of the different inventory situation between the investment outlook and strategy as we head into 4Q20 and into 2021.   While the expected recovery was pushed back to 2H21 from Micron Technology (MU US) hurt sentiment, we still believe it is an excellent chance to BUY and here's why.

Semi Memory Investing - Don't Be a Smart Aleck

Alpha-Centric ESG Research

Kyle Rudden

<p>Sometimes, the "ESG stuff" can really alter the outcome of an IPO. The <a href="https://www.smartkarma.com/entities/saudi-aramco" target="_blank" data-smartkarma-citation="entities:27317:1" rel="noopener">Saudi Aramco (ARAMCO AB)</a> debut was curbed by Environmental concerns. WeWork's failed IPO is a case study in founder-led Governance risk. Palantir quashed its "adjustable voting power for founders" after an uproar.</p>
<p>ESG impacts IPOs. But not Ant's IPO.</p>
<p>Ant's ESG profile is strong. There a few skeletons in the closet if you look hard enough, but they are bygone and irrelevant . Current ESG blemishes are minor. There isn't much dirt for ESG idealists to wallow in. If they are even looking at all; as a "China deal," ESG has a different relevance for Ant.</p>
<p>Ant's IPO is a momentous ESG event, but not in the traditional and obvious way.</p>
<p>This is not about ESG impacting Ant's IPO. This is about Ant's IPO impacting ESG.</p>
<p>Looking at Ant through a typical ESG lens will make one's head spin. But step back and look again, and it becomes clear that Ant is a strategically-integrated masterpiece at the vanguard of a critical crossroads – the intersection of Fintech, financial inclusion, green finance, and sustainability.</p>
<p>It is all a matter of perspective.</p>
<p>Seeing the forest for the trees.</p>

Sometimes, the "ESG stuff" can really alter the outcome of an IPO. The Saudi Aramco (ARAMCO AB) debut was curbed by Environmental concerns. WeWork's failed IPO is a case study in founder-led Governance risk. Palantir quashed its "adjustable voting power for founders" after an uproar.
ESG impacts IPOs. But not Ant's IPO.
Ant's ESG profile is strong. There a few skeletons in the closet if you look hard enough, but they are bygone and irrelevant . Current ESG blemishes are minor. There isn't much dirt for ESG idealists to wallow in. If they are even looking at all; as a "China deal," ESG has a different relevance for Ant.
Ant's IPO is a momentous ESG event, but not in the traditional and obvious way.
This is not about ESG impacting Ant's IPO. This is about Ant's IPO impacting ESG.
Looking at Ant through a typical ESG lens will make one's head spin. But step back and look again, and it becomes clear that Ant is a strategically-integrated masterpiece at the vanguard of a critical crossroads – the intersection of Fintech, financial inclusion, green finance, and sustainability.
It is all a matter of perspective.
Seeing the forest for the trees.

Ant Group Pre-IPO ESG Assessment: Seeing the Forest for the Trees

Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Event-Driven

<p>Samsung's year-end dividend prospect should be very appealing as a special dividend of ₩1,450 per ordinary share is becoming more likely.</p><p>But how can we hedge for this dividend play?</p><p>Well, I guess the only option would be shorting Samsung's single-stock futures.</p><table class="table table-striped">
<colgroup>
<col width="300">
<col width="600">
</colgroup>
<tbody>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Single stock futures"}'>Samsung Electronics single stock futures</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Trade multiple"}'>Trade multiple</td>
<td data-sheets-value='{"1":3,"3":10}'>10</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Contract size"}'>Contract size</td>
<td data-sheets-value='{"1":2,"2":"Futures price × trade multiple (10)"}'>Futures price × trade multiple (10)</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Tick (KOSPI)"}'><div>Tick</div></td>
<td data-sheets-value='{"1":2,"2":"₩100: ₩50,000 ≤ futures price &lt; ₩100,000"}'>₩100: ₩50,000 ≤ futures price &lt; ₩100,000</td>
</tr>
<tr>
<td rowspan="2" data-sheets-value='{"1":2,"2":"Settlement months"}'><div>Settlement months</div></td>
<td rowspan="2" data-sheets-value='{"1":2,"2":"A total of 9 settlement months within 3 years: 2 (March &amp; September), 2 (June), 3 (December), &amp; 2 (remaining months)"}'><div>A total of 9 settlement months within three years: 2 (March &amp; September), 2 (June), 3 (December), &amp; 2 (remaining months)</div></td>
</tr>
<tr></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Last trading day"}'>Last trading day</td>
<td data-sheets-value='{"1":2,"2":"2nd Thursday of each settlement month"}'>2nd Thursday of each settlement month</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"First trading day"}'>First trading day</td>
<td data-sheets-value='{"1":2,"2":"The following day of the last trading day"}'>The following day of the last trading day</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Trading hours - regular trading day"}'>Trading hours - regular trading day</td>
<td data-sheets-value='{"1":2,"2":"09:00~15:45 (single-price trade 08:00~09:00 / 15:35~15:45)"}'>09:00~15:45 (single-price trade 08:00~09:00 / 15:35~15:45)</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Trading hours - last trading day"}'>Trading hours - last trading day</td>
<td data-sheets-value='{"1":2,"2":"09:00~15:20 (single-price trade 08:00~09:00)"}'>09:00~15:20 (single-price trade 08:00~09:00)</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Price ceiling"}'>Price ceiling</td>
<td data-sheets-value='{"1":2,"2":"Reference price ① ±10% ② ±20% ③ ±30% (incremental)"}'>Reference price ① ±10% ② ±20% ③ ±30% (incremental)</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Customer margin (or initial margin)"}'>Customer margin (or initial margin)</td>
<td data-sheets-value='{"1":2,"2":"10~30%"}'>10~30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Maintenance margin"}'>Maintenance margin</td>
<td data-sheets-value='{"1":2,"2":"5~20%"}'>5~20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Margin settlement deadline"}'>Margin settlement deadline</td>
<td data-sheets-value='{"1":2,"2":"16:00 on T+1"}'>16:00 on T+1</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Final settlement price"}'>Final settlement price</td>
<td data-sheets-value='{"1":2,"2":"Closing cash price of the last trading day"}'>The closing cash price of the last trading day</td>
</tr>
<tr><td colspan="2" data-sheets-value='{"1":2,"2":"Source: KRX"}'><em>Source: KRX</em></td></tr>
</tbody>
</table>

Samsung's year-end dividend prospect should be very appealing as a special dividend of ₩1,450 per ordinary share is becoming more likely.But how can we hedge for this dividend play?Well, I guess the only option would be shorting Samsung's single-stock futures.





Samsung Electronics single stock futures

Trade multiple
10


Contract size
Futures price × trade multiple (10)


Tick
₩100: ₩50,000 ≤ futures price &lt; ₩100,000


Settlement months
A total of 9 settlement months within three years: 2 (March &amp; September), 2 (June), 3 (December), &amp; 2 (remaining months)



Last trading day
2nd Thursday of each settlement month


First trading day
The following day of the last trading day


Trading hours - regular trading day
09:00~15:45 (single-price trade 08:00~09:00 / 15:35~15:45)


Trading hours - last trading day
09:00~15:20 (single-price trade 08:00~09:00)


Price ceiling
Reference price ① ±10% ② ±20% ③ ±30% (incremental)


Customer margin (or initial margin)
10~30%


Maintenance margin
5~20%


Margin settlement deadline
16:00 on T+1


Final settlement price
The closing cash price of the last trading day

Source: KRX



Samsung Dividend Play, Hedging-Adjusted with Futures

Samsung Electronics Pref Shares / Event-Driven

<p>The market expectation on Samsung Electronics' earnings improvement in the immediate term is growing.</p><p>The local street consensus has improved by 7% (OP-wise) since three months ago.</p><p>But if compiling only the recently revised ones, the current expectation is somewhere around ₩37T, which is a 15% improvement.</p><table class="table table-striped">
<colgroup>
<col width="300">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"POSCO, FY2020 (₩B)"}' data-sheets-formula='=R[-34]C[1]&amp;", FY2020 (₩B)"'>Samsung Electronics, FY2020 (₩B)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":44103}' data-sheets-formula="=today()">2020. 9. 29</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"T-1M"}'>T-1M</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"T-3M"}'>T-3M</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"T-6M"}'>T-6M</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"T-1Y"}'>T-1Y</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Sales"}'>Sales</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":235569.1}' data-sheets-formula="=R[34]C[0]/10">235,569.1</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":233170.2}' data-sheets-formula="=R[34]C[0]/10">233,170.2</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":230392.4}' data-sheets-formula="=R[34]C[0]/10">230,392.4</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":249611.9}' data-sheets-formula="=R[34]C[0]/10">249,611.9</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":246984.8}' data-sheets-formula="=R[34]C[0]/10">246,984.8</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"OP"}'><strong>OP</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":34237.5}' data-sheets-formula="=R[34]C[0]/10"><strong>34,237.5</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":32553.8}' data-sheets-formula="=R[34]C[0]/10"><strong>32,553.8</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":32039.6}' data-sheets-formula="=R[34]C[0]/10"><strong>32,039.6</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":38411}' data-sheets-formula="=R[34]C[0]/10">38,411.0</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":35812.5}' data-sheets-formula="=R[34]C[0]/10">35,812.5</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"NP to controlling stake"}'>NP to controlling stake</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":25776.4}' data-sheets-formula="=R[34]C[0]/10">25,776.4</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":24626.3}' data-sheets-formula="=R[34]C[0]/10">24,626.3</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":24719.4}' data-sheets-formula="=R[34]C[0]/10">24,719.4</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":29700.3}' data-sheets-formula="=R[34]C[0]/10">29,700.3</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":27894.1}' data-sheets-formula="=R[34]C[0]/10">27,894.1</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"EPS (₩)"}'>EPS (₩)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":3795}' data-sheets-formula="=R[34]C[0]">3,795</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":3625}' data-sheets-formula="=R[34]C[0]">3,625</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":3639}' data-sheets-formula="=R[34]C[0]">3,639</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":4372}' data-sheets-formula="=R[34]C[0]">4,372</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":4107}' data-sheets-formula="=R[34]C[0]">4,107</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"PER (x)"}'>PER (x)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":15.3}' data-sheets-formula="=R[34]C[0]">15.30</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":15.3}' data-sheets-formula="=R[34]C[0]">15.30</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":14.7}' data-sheets-formula="=R[34]C[0]">14.70</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":11.1}' data-sheets-formula="=R[34]C[0]">11.10</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":11.8}' data-sheets-formula="=R[34]C[0]">11.80</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"12M PER (x)"}'>12M PER (x)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":12.38}' data-sheets-formula="=R[34]C[0]">12.38</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":12.44}' data-sheets-formula="=R[34]C[0]">12.44</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":12.28}' data-sheets-formula="=R[34]C[0]">12.28</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":10.19}' data-sheets-formula="=R[34]C[0]">10.19</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":12.52}' data-sheets-formula="=R[34]C[0]">12.52</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"TP (₩)"}'>TP (₩)</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":75258}' data-sheets-formula="=R[34]C[0]">75,258</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":71592}' data-sheets-formula="=R[34]C[0]">71,592</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":65167}' data-sheets-formula="=R[34]C[0]">65,167</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":67770}' data-sheets-formula="=R[34]C[0]">67,770</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":56045}' data-sheets-formula="=R[34]C[0]">56,045</td>
</tr>
<tr><td colspan="6" rowspan="1" data-sheets-value='{"1":2,"2":"Source: FnGuide"}'><em>Source: FnGuide</em></td></tr>
</tbody>
</table><p>Then, implications for year-end dividend?</p><p>Yes, it means we now have a higher chance of enjoying other shareholder returns for this year.</p>

The market expectation on Samsung Electronics' earnings improvement in the immediate term is growing.The local street consensus has improved by 7% (OP-wise) since three months ago.But if compiling only the recently revised ones, the current expectation is somewhere around ₩37T, which is a 15% improvement.










Samsung Electronics, FY2020 (₩B)
2020. 9. 29
T-1M
T-3M
T-6M
T-1Y


Sales
235,569.1
233,170.2
230,392.4
249,611.9
246,984.8


OP
34,237.5
32,553.8
32,039.6
38,411.0
35,812.5


NP to controlling stake
25,776.4
24,626.3
24,719.4
29,700.3
27,894.1


EPS (₩)
3,795
3,625
3,639
4,372
4,107


PER (x)
15.30
15.30
14.70
11.10
11.80


12M PER (x)
12.38
12.44
12.28
10.19
12.52


TP (₩)
75,258
71,592
65,167
67,770
56,045

Source: FnGuide

Then, implications for year-end dividend?Yes, it means we now have a higher chance of enjoying other shareholder returns for this year.

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Quantitative Analysis

<div><p>The Asia Short Interest weekly looks at moves in market wide short interest and highlights movements in stock specific short interest across Hong Kong, Japan, Korea and Taiwan using the last available data published by the relevant authorities.</p></div><div><p>Hong Kong saw shorts rise on <a href="https://www.smartkarma.com/entities/semiconductor-manufacturing" target="_blank" data-smartkarma-citation="entities:14231:1" rel="noopener">Semiconductor Manufacturing (981 HK)</a>, <a href="https://www.smartkarma.com/entities/ping-an-insurance-grp-co-of-china-ltd" target="_blank" data-smartkarma-citation="entities:12880:1" rel="noopener">Ping An Insurance (H) (2318 HK)</a>, <a href="https://www.smartkarma.com/entities/zhaojin-mining-industry-company-ltd-h" target="_blank" data-smartkarma-citation="entities:4626:1" rel="noopener">Zhaojin Mining Industry H (1818 HK)</a> and <a href="https://www.smartkarma.com/entities/longfor-properties" target="_blank" data-smartkarma-citation="entities:8149:1" rel="noopener">Longfor Properties (960 HK)</a>, while there was short covering on <a href="https://www.smartkarma.com/entities/alibaba-group" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group (9988 HK)</a>, <a href="https://www.smartkarma.com/entities/meituan-dianping" target="_blank" data-smartkarma-citation="entities:26970:1" rel="noopener">Meituan Dianping (3690 HK)</a>, <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com (HK) (9618 HK)</a> and <a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a>. Shorts increased in Information Technology and Materials and were covered in Consumer Discretionary, Communication Services and Financials.</p></div><div><p>Japan saw big increases and decreases in short interest across stocks in a short trading week with the markets closed on Monday and Tuesday. With the large increase and decrease in short interest across stocks linked to the same market participant, we would assume that there are positions linked to funding/ dividend trades being switched ahead of the September ex-dividend date.</p></div><div><p>Stocks in Korea that saw the most shorts were <a href="https://www.smartkarma.com/entities/shinpoong-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:7296:1" rel="noopener">Shinpoong Pharmaceutical (019170 KS)</a>, <a href="https://www.smartkarma.com/entities/alteogen-inc" target="_blank" data-smartkarma-citation="entities:15886:1" rel="noopener">Alteogen Inc (196170 KS)</a>, <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> and <a href="https://www.smartkarma.com/entities/celltrion-pharm-inc" target="_blank" data-smartkarma-citation="entities:992:1" rel="noopener">Celltrion Pharm (068760 KS)</a>, while there was short covering on <a href="https://www.smartkarma.com/entities/lg-chem-ltd" target="_blank" data-smartkarma-citation="entities:3583:1" rel="noopener">LG Chem Ltd (051910 KS)</a>.</p></div><div><p>Stocks in Taiwan that saw the highest increase in shorts were <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-company" target="_blank" data-smartkarma-citation="entities:11230:1" rel="noopener">TSMC (2330 TT)</a>, <a href="https://www.smartkarma.com/entities/evergreen-marine-corp-ltd" target="_blank" data-smartkarma-citation="entities:15428:1" rel="noopener">Evergreen Marine Corp (2603 TT)</a>, <a href="https://www.smartkarma.com/entities/genius-electronic-optical-co-ltd" target="_blank" data-smartkarma-citation="entities:9632:1" rel="noopener">Genius Electronic Optical (3406 TT)</a> and <a href="https://www.smartkarma.com/entities/shin-kong-financial-holding" target="_blank" data-smartkarma-citation="entities:15351:1" rel="noopener">Shin Kong Financial Holding (2888 TT)</a> while shorts were covered on <a href="https://www.smartkarma.com/entities/chung-hsin-electric-machinery-mfg-corp" target="_blank" data-smartkarma-citation="entities:3380:1" rel="noopener">Chung Hsin Electric &amp; Machinery Mfg (1513 TT)</a>, <a href="https://www.smartkarma.com/entities/macronix-international" target="_blank" data-smartkarma-citation="entities:3247:1" rel="noopener">Macronix International (2337 TT)</a>, <a href="https://www.smartkarma.com/entities/yageo-corporation" target="_blank" data-smartkarma-citation="entities:13212:1" rel="noopener">Yageo Corporation (2327 TT)</a> and <a href="https://www.smartkarma.com/entities/nan-ya-printed-circuit-board-corporation" target="_blank" data-smartkarma-citation="entities:2699:1" rel="noopener">Nan Ya Printed Circuit Board (8046 TT)</a>.</p></div>

The Asia Short Interest weekly looks at moves in market wide short interest and highlights movements in stock specific short interest across Hong Kong, Japan, Korea and Taiwan using the last available data published by the relevant authorities.Hong Kong saw shorts rise on Semiconductor Manufacturing (981 HK), Ping An Insurance (H) (2318 HK), Zhaojin Mining Industry H (1818 HK) and Longfor Properties (960 HK), while there was short covering on Alibaba Group (9988 HK), Meituan Dianping (3690 HK), JD.com (HK) (9618 HK) and Xiaomi Corp (1810 HK). Shorts increased in Information Technology and Materials and were covered in Consumer Discretionary, Communication Services and Financials.Japan saw big increases and decreases in short interest across stocks in a short trading week with the markets closed on Monday and Tuesday. With the large increase and decrease in short interest across stocks linked to the same market participant, we would assume that there are positions linked to funding/ dividend trades being switched ahead of the September ex-dividend date.Stocks in Korea that saw the most shorts were Shinpoong Pharmaceutical (019170 KS), Alteogen Inc (196170 KS), Samsung Electronics (005930 KS) and Celltrion Pharm (068760 KS), while there was short covering on LG Chem Ltd (051910 KS).Stocks in Taiwan that saw the highest increase in shorts were TSMC (2330 TT), Evergreen Marine Corp (2603 TT), Genius Electronic Optical (3406 TT) and Shin Kong Financial Holding (2888 TT) while shorts were covered on Chung Hsin Electric &amp; Machinery Mfg (1513 TT), Macronix International (2337 TT), Yageo Corporation (2327 TT) and Nan Ya Printed Circuit Board (8046 TT).

Asia Short Interest Weekly: SMIC, Zhaojin, Longfor, JD, Shinpoong, Alteogen, Japan Dividend Ex-Date

South Korea

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

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Samsung Electronics (005930 KS)

Semi Memory Investing - Don't Be a Smart Aleck

Update of

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Ant Group Pre-IPO ESG Assessment: Seeing the Forest for the Trees

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Samsung Electronics'

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Asia Short Interest Weekly: SMIC, Zhaojin, Longfor, JD, Shinpoong, Alteogen, Japan Dividend Ex-Date

The Asia Short Interest weekly looks at moves in market wide short interest and highlights movements in stock specific short interest across Hong...

Brian Freitas

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