In today’s briefing:
- Delisting of 5 Korean Preferred Stocks on 17 July
- Quiddity Leaderboard for Hang Seng Index Sep 23: Beigene Vs Peers An Interesting Trade
- Hyundai G.F. Holdings’ Stock Swap with Hyundai Green Food & Hyundai Dept Store
- EQD | KOSPI 200 Index WEEKLY: Time to Go LONG?
Delisting of 5 Korean Preferred Stocks on 17 July
- The Korea Exchange officially announced today that the following five preferred stocks will be delisted on 17 July.
- These five stocks including Samsung Heavy Industries Pref, SK Networks Pref, DB Hitek Pref, Hyundai BNG Steel Pref, and Heungkuk Fire & Marine Insurance Pref 2B fell sharply today.
- Despite the warning by the Korea Exchange since end of May, it was not until today that these five stocks dropped sharply. On average, these five stocks fell 44% today.
Quiddity Leaderboard for Hang Seng Index Sep 23: Beigene Vs Peers An Interesting Trade
- In this insight, we take a look at some of the names with high likelihood of being involved in index changes for the Hang Seng Index in September 2023.
- The index changes for the September 2023 rebalance could be announced in mid-August and implemented in early-September.
- Although the index methodology is highly subjective and predicting index changes is extremely tricky, the HSI is an important index in the region and here are our thoughts for September.
Hyundai G.F. Holdings’ Stock Swap with Hyundai Green Food & Hyundai Dept Store
- Hyundai G.F. Holdings will conduct a tender offer to Hyundai Green Food and Hyundai Dept Store shareholders. The tendering period is August 11-September 1.
- The target volume is 10,125,700 (Hyundai Green Food) and 4,669,556 (Hyundai Dept Store), corresponding to 29.89% and 19.95% of the outstanding shares, respectively.
- We should approach this event trading with caution, taking into account the risk of an unhedged setup while monitoring the potential widening of the spread opening during the tendering period.
EQD | KOSPI 200 Index WEEKLY: Time to Go LONG?
- The Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY) has been (mildly) falling for 4 weeks, it may be now ready to resume its multi-month uptrend.
- Friday July 7th would be a good time to enter this LONG trade at support prices between 337 and 333 (ideal range; it’s riskier below 333).
- Hedge your bets in case the market keeps falling more next week and the following (it shouldn’t… but it can).
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