In today’s briefing:
- Details About KOSPI & KOSDAQ Lock-Up Release Stocks for October
- End of Mandatory Lock-Up Periods for 45 Companies in Korea in October 2023
- Li Ning (2331 HK): No Positive Catalysts In Sight
- Quiddity JPX-Nikkei 400 Rebal 2024: End-Sep 2023
- MercadoLibre’s Bullish Run Continues
- Metalsa – ESG Report – Lucror Analytics
Details About KOSPI & KOSDAQ Lock-Up Release Stocks for October
- In KOSPI, all eyes are on Ottogi Corporation, a constituent of the KOSPI 200 index. 8.38% of SO’s shares are about to be unleashed.
- In KOSDAQ, the focus is on CanariaBio and Coocon Corp, both of which are constituents of the KOSDAQ 150. They are set to release shares on October 28th.
- For Fadu, a two-month IPO lock-up is being released, accounting for 2.5% of SO.
End of Mandatory Lock-Up Periods for 45 Companies in Korea in October 2023
- We discuss the end of the mandatory lock-up periods for 45 stocks in Korea in October 2023, among which 2 are in KOSPI and 43 are in KOSDAQ.
- These 45 stocks on average could be subject to further selling pressures in October and could underperform relative to the market.
- Among these 45 stocks, top five market cap stocks include Fadu, Ottogi Corporation, CanariaBio, Top Material, and PhilEnergy.
Li Ning (2331 HK): No Positive Catalysts In Sight
- Since my bearish insight on August 11 (Li Ning (2331 HK): Low Quality Earnings Beat), Li Ning’s share price has declined by 27% in less than 2 months.
- Anta’s share price on the other hand has been flat during the same time frame (Anta Sports (2020 HK): Most Resilient In Industry Down-Cycles).
- In this insight, we look at if there are now any positive catalysts on the name, given the steep share price decline.
Quiddity JPX-Nikkei 400 Rebal 2024: End-Sep 2023
- JPX-Nikkei 400 is composed of common stocks listed on the Tokyo Stock Exchange. It is a free-float-adjusted market-value-weighted (capped) index composed of 400 constituents.
- A periodic review is conducted by the Index providers, the JPX Group and Nikkei Inc, in August every year. We look at the potential forward inclusions and removals every month.
- Below is a look at potential Inclusions and Removals for the JPX-Nikkei 400 Rebalance to come in August 2024 based on trading data as of end-September 2023.
MercadoLibre’s Bullish Run Continues
- Despite MercadoLibre’s non-benchmark status, ownership among active EM managers has reached new highs.
- MercadoLibre has been the beneficiary of significant manager rotation over the last year, with 131 funds increasing weights and 29 opening new positions.
- MercadoLibre is now the 8th largest holding on an average weight basis and has recently overtaken AIA Group as the largest overweight stock position across all regions.
Metalsa – ESG Report – Lucror Analytics
- Lucror Analytics’ ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).
- We view Metalsa’s ESG as “Adequate”, in line with its “Adequate” scores for the Environmental, Social and Governance pillars. Controversies are “Immaterial” and Disclosure is “Strong”.
- Metalsa is a Tier 1 automotive parts supplier of structural components for light and commercial vehicles, headquartered in Monterrey (Mexico).
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