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

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Event-Driven

KOSPI 200 will see the next reshuffle on June 11 next year.So, the review period is from November 1 to April 30.<table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr><td colspan="2" rowspan="1" data-sheets-value='{"1":2,"2":"Status"}'>Status</td></tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Index"}'>Index</td>
<td data-sheets-value='{"1":2,"2":"KOSPI 200 Index"}' data-sheets-numberformat='{"1":5,"2":"mmmm d, yyyy","3":1}' data-sheets-formula='=googlefinance(R[1]C[0], "name")'>KOSPI 200 Index</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Ticker"}'>Ticker</td>
<td data-sheets-value='{"1":2,"2":"KRX:KOSPI200"}' data-sheets-numberformat='{"1":5,"2":"mmmm d, yyyy","3":1}' data-sheets-formula='="KRX:KOSPI200"'>KRX:KOSPI200</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Date"}'>Date</td>
<td data-sheets-value='{"1":3,"3":44178}' data-sheets-numberformat='{"1":5,"2":"mmmm d, yyyy","3":1}' data-sheets-formula="=today()">December 13, 2020</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Rebalancing"}'>Rebalancing</td>
<td data-sheets-value='{"1":2,"2":"Biannually"}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>Biannually</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Effective date"}'>- Effective date</td>
<td data-sheets-value='{"1":2,"2":"Next trading day of 2nd Thursday of June &amp; December"}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>Next trading day of 2nd Thursday of June &amp; December</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - June"}'>- June</td>
<td data-sheets-value='{"1":3,"3":43994}' data-sheets-numberformat='{"1":5,"2":"mmmm d, yyyy","3":1}'>June 11, 2021</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Review period"}'>- Review period</td>
<td data-sheets-value='{"1":2,"2":"May 1 to October 31"}'>November 1 to April 30</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - December"}'>- December</td>
<td data-sheets-value='{"1":3,"3":44176}' data-sheets-numberformat='{"1":5,"2":"mmmm d, yyyy","3":1}'>December 10, 2020</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Review period"}'>- Review period</td>
<td data-sheets-value='{"1":2,"2":"November 1 to April 30"}'>May 1 to October 31</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Number of constituents"}'>Number of constituents</td>
<td data-sheets-value='{"1":3,"3":200}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>200</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Est. total mirroring funds"}'>Est. total mirroring funds</td>
<td data-sheets-value='{"1":3,"3":60000}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>60,000.0</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Total float MC"}'>Total float MC</td>
<td data-sheets-value='{"1":3,"3":1096021.987}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>1,096,022.0</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Average"}'>- Average</td>
<td data-sheets-value='{"1":3,"3":5480.11}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>5,480.1</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Highest"}'>- Highest</td>
<td data-sheets-value='{"1":3,"3":346163.808}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>346,163.8</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Lowest"}'>- Lowest</td>
<td data-sheets-value='{"1":3,"3":80.338}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>80.3</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Median"}'>- Median</td>
<td data-sheets-value='{"1":3,"3":1183.525}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}'>1,183.5</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":" - Top 10 largest"}'>- Top 10 largest</td>
<td data-sheets-value='{"1":3,"3":0.5812}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>58.12%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Current"}'>Current</td>
<td data-sheets-value='{"1":3,"3":372.24}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}' data-sheets-formula='=googlefinance(R[-16]C[0], "price")'>372.24</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"52W high (December 11, 2020)"}'>52W high (December 11, 2020)</td>
<td data-sheets-value='{"1":3,"3":372.24}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}'>372.24</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"52W low (March 19, 2020)"}'>52W low (March 19, 2020)</td>
<td data-sheets-value='{"1":3,"3":199.28}' data-sheets-numberformat='{"1":2,"2":"#,##0.00","3":1}'>199.28</td>
</tr>
<tr><td colspan="2" rowspan="1" data-sheets-value='{"1":2,"2":"Source: KRX"}'>Source: KRX</td></tr>
</tbody>
</table><hr><div class="content-highlight"><a href="https://docs.google.com/spreadsheets/d/e/2PACX-1vQokO_6MTvdlTT682qY8daAjML-xYVdfBT-okk3_3p0oh7lWMvbhtDfTRtHXq_bVi2XD4eZNzDv4W1f/pubhtml?gid=1840582685&amp;single=true" target="_blank" rel="noopener">Here is the link to the latest full list of KOSPI stocks classified by the GICS.</a></div>

KOSPI 200 will see the next reshuffle on June 11 next year.So, the review period is from November 1 to April 30.





Status

Index
KOSPI 200 Index


Ticker
KRX:KOSPI200


Date
December 13, 2020


Rebalancing
Biannually


- Effective date
Next trading day of 2nd Thursday of June &amp; December


- June
June 11, 2021


- Review period
November 1 to April 30


- December
December 10, 2020


- Review period
May 1 to October 31


Number of constituents
200


Est. total mirroring funds
60,000.0


Total float MC
1,096,022.0


- Average
5,480.1


- Highest
346,163.8


- Lowest
80.3


- Median
1,183.5


- Top 10 largest
58.12%


Current
372.24


52W high (December 11, 2020)
372.24


52W low (March 19, 2020)
199.28

Source: KRX

Here is the link to the latest full list of KOSPI stocks classified by the GICS.

KOSPI 200 Rebalancing Preview: Early Early Birds Special

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

In this insight, we highlight 26 Korean companies that are/may be seeking to find new owners through M&amp;As in 2021. Key sectors of M&amp;A in Korea in 2021 include consumer and industrial. We also provide a review of our M&amp;A research in 2020. We wrote 29 reports about the M&amp;As in 2020. The M&amp;A market in Korea is estimated to be about 35 trillion won in 2020, down 8% YoY. The local media have mentioned that the M&amp;A market in Korea could be nearly <a href="https://finance.naver.com/news/news_read.nhn?article_id=0004711778&amp;office_id=009&amp;mode=LSS2D&amp;type=0&amp;section_id=101&amp;section_id2=258&amp;section_id3=&amp;date=20201207&amp;page=3" target="_blank" rel="noopener">45 trillion won</a> in 2021, up 29% YoY, which would surpass the all-time high of 38 trillion won in 2019.

In this insight, we highlight 26 Korean companies that are/may be seeking to find new owners through M&amp;As in 2021. Key sectors of M&amp;A in Korea in 2021 include consumer and industrial. We also provide a review of our M&amp;A research in 2020. We wrote 29 reports about the M&amp;As in 2020. The M&amp;A market in Korea is estimated to be about 35 trillion won in 2020, down 8% YoY. The local media have mentioned that the M&amp;A market in Korea could be nearly 45 trillion won in 2021, up 29% YoY, which would surpass the all-time high of 38 trillion won in 2019.  

Review of Our M&A Research in 2020 & Korea M&A Market Outlook in 2021: What’s For Sale?

M&A Reporting, CTFN

Jonathan Spitzer

M&A Reporting

CTFN

Bringing the marketplace leading coverage of mergers, events, and major corporate actions, CTFN has a team of seasoned reporters from Los Angeles to London, publishing news that advances stories that matter to event-driven investors and deal professionals.

General Cable, the producer of cables and wires that has been reviewing strategic alternatives, may be of interest to Asian peers, sources told CTFN. A banker familiar with the sector said that the European Commission would take a hard look at a potential acquisition of General Cable by Italy's listed cable producer Prysmian and by Paris listed Nexans.

General Cable, the producer of cables and wires that has been reviewing strategic alternatives, may be of interest to Asian peers, sources told CTFN. A banker familiar with the sector said that the European Commission would take a hard look at a potential acquisition of General Cable by Italy's listed cable producer Prysmian and by Paris listed Nexans. 

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Thematic (Sector/Industry)

<blockquote>
“Using leverage to cure the problems of too much leverage is not homeopathy, it is denial. The debt crisis is not a temporary problem, it is a structural one. We need rehab.”
―Nassim Nicholas Taleb, Ten principles for a Black Swan-proof world (2009)
</blockquote>This morning, Hanjin Shipping Co. said it will apply for court receivership after lenders decided to halt all support. We have been highlighting these risks from 2013 and in our last update on troubled container shipping company, we had highlighted the…


“Using leverage to cure the problems of too much leverage is not homeopathy, it is denial. The debt crisis is not a temporary problem, it is a structural one. We need rehab.”
―Nassim Nicholas Taleb, Ten principles for a Black Swan-proof world (2009)
This morning, Hanjin Shipping Co. said it will apply for court receivership after lenders decided to halt all support. We have been highlighting these risks from 2013 and in our last update on troubled container shipping company, we had highlighted the…

Hanjin Shipping(117930 KS) - Borrowed Time Comes to an End

The four major construction stocks in Korea <a href="https://www.smartkarma.com/entities/4292" target="_blank" data-smartkarma-citation="entities:4292">Hyundai Engineering &amp; Const</a>, <a href="https://www.smartkarma.com/entities/7699" target="_blank" data-smartkarma-citation="entities:7699">Hyundai Development Co Engg &amp; Cnstn</a>, <a href="https://www.smartkarma.com/entities/15916" target="_blank" data-smartkarma-citation="entities:15916">Gs Engineering &amp; Construct</a>, and <a href="https://www.smartkarma.com/entities/12333" target="_blank" data-smartkarma-citation="entities:12333">Daewoo Engineering &amp; Constr</a> share prices are on average down 10% from 13 April 2016 (in the same period KOSPI was up 0.3%) , post the election of the National Assembly members in Korea. We gave out a warning on 17 April 206 on these four Korean construction stocks <a href="https://www.smartkarma.com/insights/warning-on-korean-construction-stocks-ruling-saenuri-party-is-crushed-in-national-assembly-election" target="_blank" data-smartkarma-citation="insights:3422">Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly</a>…

The four major construction stocks in Korea Hyundai Engineering &amp; Const, Hyundai Development Co Engg &amp; Cnstn, Gs Engineering &amp; Construct, and Daewoo Engineering &amp; Constr share prices are on average down 10% from 13 April 2016 (in the same period KOSPI was up 0.3%) , post the election of the National Assembly members in Korea. We gave out a warning on 17 April 206 on these four Korean construction stocks Warning on Korean Construction Stocks: Ruling Saenuri Party Is Crushed in National Assembly…

Close Out the Shorts on Korean Construction Stocks?

South Korea

CS Wind Corporation operates as a wind tower company. The Company manufactures and exports steel wind towers, while also offering aluminum platforms for wind towers. CS Wind extends its products and services globally.

Hyosung Heavy Industries Corporation manufactures electrical power equipment. The Company produces and sells transformers, generators, and other related products. Hyosung Heavy Industries markets its products worldwide.

Hyosung Heavy Industries Corp (298040 KS)

LS Corp is a holding company, which operated subsidiaries including LS Industrial Systems, LS Cable, LS-Nikko Copper and LS Mtron.

Iljin Electric Co Ltd manufactures and sells electric products.  The Company's products include electric fittings, distribution lines, electrical equipment, and automated power distribution systems.  Iljin also builds power cable systems and produces aluminum casting products used in automobiles.  Through its subsidiaries, the Company operates communications and financial businesses.

Shinsung Delta Tech Co., Ltd. manufactures electronic components. The company's product includes control panel, top cover, drum tub, and blower for washing machine and air conditioner.  The Company also produces automobile part and light guide panel for Thin Film Transistor-Liquid Crystal Display (TFT-LCD).

Cheryong Electric Co., Ltd. manufactures and sells steel support equipment and components used for power supply and transmission.  The Company also produces transformers and synthetic resin products, including electric wire covering.

L&F Co., Ltd. develops and manufactures battery materials. The Company produces and sells cathode active materials, anode materials, electrolyte, separator, and other products. L&F markets its products throughout Korea.

Korea Electric Terminal Co., Ltd. specializes in manufacturing a wide range of connectors used in automobiles, home appliances, and telecommunications devices, The Company also produces fiber-optic products, such as jumper cord assemblies, attenuators, couplers, and multiplexers.

SPG Co., Ltd, manufactures various types of industrial motors.  The Company's main products are induction motors, reversible motors, electromagnetic motors, shaded pole motors, and condenser run motors.

Vitzrocell Co., Ltd. manufactures and exports industrial and consumer speciality batteries, such as lithium and manganis batteris.

Furukawa Electric Co., Ltd. manufactures wires, cables, and metal products. The Company holds patents in optical fiber coating technology and produces optical fiber cables in the United States.  Furukawa Electric's metal products include aluminum cans, air conditioner parts, and shape memory alloys.

Xi'an Shaangu Power Co., Ltd. provides solutions and services to turbomachinery systems.  The Company's products include turbine compressers, industrial process energy recovery systems, and turbo blower units.

Nantong Jianghai Capacitor Co., Ltd. develops, produces and sells electronic components.  The Company's products include aluminum electrolytic capacitors, surface mounted components and polymer.

Nantong Jianghai Capacitor Co,Ltd. (002484 CH)

Zhongshan Broad Ocean Motor Co Ltd manufactures AC and DC electric motors.

Zhongshan Broad Ocean Motor Co., (002249 CH)

Array Technologies, Inc. designs and manufactures solar tracking systems. The Company offers solar tracking equipment to utilities, corporations, small businesses, and homeowners. Array Technologies serves customers worldwide.

Bizlink Holding Inc., manufactures connectors, cable assemblies, as well as wire harnesses. Their main products include HDMI connectors, display port connectors, solar cables, as well as halogen-free power cords.

HBL Power Systems Ltd. manufactures power systems consisting of batteries and related power electronic products.  The Company makes nickel cadmium pocket plate batteries and thyristor control power convertors.  HBL's products are used in defense, railways, petrochemical, steel, power generation and telecommunication industries.

Titan Wind Energy (Suzhou) Company Limited produces and sells wind towers and wind tower parts.

Xiangtan Electric Manufacturing Company Ltd. manufactures electrical machinery. The Company produces wind turbines, pumps, electrical wheel trucks, electric mining locomotives, industrial locomotives, light rail cars, elevators, hydraulic presses, and ball mills.

Xiangtan Electric Manufacturing Co,Ltd. (600416 CH)

GS Yuasa Corporation is a holding company established through the merger of Yuasa Corp. and Japan Storage Battery Co., Ltd.  The Company manages financial operations for its subsidiaries, which manufactures storage batteries used for automobiles, motorcycles, computers, and lighting equipment.

Taihan Electric Wire Co., Ltd. manufactures a wide range of cables and wires, such as power, communications, copper rod, and enameled cables and wires.  The Company also produces stainless steel sheets and aluminum products including coils, sheets, and plates.  In addition, Taihan Electric offers information and communications equipment, such as optical transmission and network systems.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Taihan Electric Wire (001440 KS)

KOSPI 200 Rebalancing Preview: Early Early Birds Special

This insight is a preview of the upcoming KOSPI 200 rebalancing in June 2021. The review period is November 1 to April 30, and this insight is...

Sanghyun Park

Review of Our M&A Research in 2020 & Korea M&A Market Outlook in 2021: What’s For Sale?

In this insight, we highlight 26 Korean companies that are/may be seeking to find new owners through M&As in 2021. We also provide a review of our...

Douglas Kim

General Cable Could Attract Asian Peers

General Cable, the producer of cables and wires that has been reviewing strategic alternatives, may be of interest to Asian peers, sources told...

CTFN

Hanjin Shipping(117930 KS) - Borrowed Time Comes to an End

“Using leverage to cure the problems of too much leverage is not homeopathy, it is denial. The debt crisis is not a temporary problem, it is a...

Drewry Maritime Financial Research

Close Out the Shorts on Korean Construction Stocks?

The four major construction stocks in Korea Hyundai Engineering & Const, Hyundai Development Co Engg & Cnstn, Gs Engineering &...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)