In today’s briefing:
- Bank of Kyoto (8369) – Not a Normal Regional Bank
- Misunderstandings & Truth About Samchully & Daesung Holdings Entering KOSPI 200
Bank of Kyoto (8369) – Not a Normal Regional Bank
- Bank of Kyoto (8369 JP) is a classic “deep value” trade. It has a low PBR, and… “Dude, it’s equity portfolio alone is worth more than the whole bank.”
- It has a larger market cap than most super-low PBR Japanese regional banks, is more liquid, and the narrative is quite easy to tell.
- Japanese Banks are the hottest new thing but unless you think This Particular Leopard is going to change its spots, it is still best thought of as a range trade.
Misunderstandings & Truth About Samchully & Daesung Holdings Entering KOSPI 200
- Hankyung’s report is a clear misunderstanding under the current index methodology. The possibility of Samchully and Daesung Holdings’ KOSPI 200 inclusion is NONE.
- However, the issue of deteriorating the market representation of the K200 index, which is caused by the top stocks outside the index, is gaining attention in the local financial space.
- So, we should prepare for the possibility that KRX will revise the methodology. In this case, an intense preemptive flow for the top names outside the KOSPI 200 can appear.
💡 Before it’s here, it’s on Smartkarma
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