In today’s briefing:
- KOSPI200 Dec24 Rebal: 4 ADDs, 5 DELs, Big ADV on Small Stocks
- Dividend Tax Cut Decision Scheduled for 25th, Next Monday: Watch Sammy Prefs
- FineToday (289A JP): Fine In May & June 2025 for Global Index Inclusion
- Adani Group’s Crucial Disclosure Lapses About Bribery & US Investigation
- EQD | NIFTY 50: State Of The Odds
KOSPI200 Dec24 Rebal: 4 ADDs, 5 DELs, Big ADV on Small Stocks
- The December 2024 index review results for the KOSPI Indices were announced after the close on Thursday 21st November 2024.
- There will be four ADDs and five DELs for KOSPI 200 during the December 2024 index rebal event.
- We predicted 8 out of 9 changes correctly. We missed one of the DELs and we expected a couple extra changes which did not materialize.
Dividend Tax Cut Decision Scheduled for 25th, Next Monday: Watch Sammy Prefs
- The opposition’s pushing a Commercial Act amendment, and to gain ruling party support, they might strategically ease up on the dividend tax issue—classic quid pro quo.
- The Samsung family’s collateral risk eased with a 10 trillion won buyback, but local markets are still cautious. Local traders now eye another 10 trillion won shareholder return.
- The timing of the special dividend and tax deadlines may cause mismatches, but we should watch for earlier price moves in Samsung Electronics preferred shares.
FineToday (289A JP): Fine In May & June 2025 for Global Index Inclusion
- FineToday Holdings Co Ltd (289A JP) is scheduled to be listed on 17 December 2024, at the prime market of TSE at an expected valuation of ~$1.5bn.
- Addition to the small-cap segment of both global indices is forecasted to take place at the May and June 2025 quarterly reviews.
- Full exercise of the greenshoe can increase free float from 35% to 45% hence the security’s passive fund demand upon inclusion.
Adani Group’s Crucial Disclosure Lapses About Bribery & US Investigation
- Adani Group’s handling of U.S. FCPA investigation disclosures highlights significant lapses in transparency, including delayed and contradictory statements.
- Inconsistent disclosures and wrong disclosure about US investigations raising red flags for regulatory compliance and governance.
- Search warrants for Sagar Adani, Nephew of Gautam Adani issued in Mar-23, which is not disclosed in fundraising documents as well as Annual Report.
EQD | NIFTY 50: State Of The Odds
- After a period of prolonged sell-off, the NIFTY Index last week found support around the 23263 level and bounced.
- Below we introduce a new “quantitative chart” tool called “QUANTCHARTS“: it displays in a compact format all the information you need to evaluate the probability of trend reversal.
- As you will see the NIFTY Index closed just below the 25% (Q1) probability target, so it has room to rise further in the coming weeks, the CC is supportive.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
