In today’s briefing:
- MSCI Korea May QCIR: Potential Changes, Impact, Positioning & Short Interest
- Quiddity Leaderboard for UK F100/250 June 2023: Mediclinic Replacement Candidates Have High Impact
- Screen Holdings (7735 JP): Positive Impression from Hikone Factory Tour
- Survival Technologies Pre-IPO – Growth Has Been Strong but Could Be Better
- CATERPILLAR INC. – Equity Research Flash Note
MSCI Korea May QCIR: Potential Changes, Impact, Positioning & Short Interest
- We currently forecast 2 potential inclusions and 3 potential deletions for the MSCI Korea Index at the May QCIR. That will change over the next few weeks till cutoff date.
- Passive trackers are estimated to buy between 0.6-3.3 days of ADV on the potential inclusions while selling between 6.9-14.2 days of ADV on the potential deletions.
- Short interest on the potential deletions has moved significantly higher in the last few weeks and there will be pre-positioning on the stocks.
Quiddity Leaderboard for UK F100/250 June 2023: Mediclinic Replacement Candidates Have High Impact
- In this insight, we take a look at the potential index changes for F100 and F250 in the run up to the June 2023 Rebalance.
- Based on latest prices, there are no changes expected for F100 while there could be up to four changes in F250 between now and the June 2023 Rebalance
- This includes the potential intra-review replacement of F250 member Mediclinic International (MDC LN) in the F250 index.
Screen Holdings (7735 JP): Positive Impression from Hikone Factory Tour
- A tour of the Hikone factory last week left us impressed with Screen’s efficiency and the timing of its capacity expansion.
- The company’s semiconductor production equipment sales are likely to decline this year, but outperform the industry as a whole due to low exposure to memory.
- Buy for longer-term recovery after the recent advance has been digested.
Survival Technologies Pre-IPO – Growth Has Been Strong but Could Be Better
- Survival Technologies (1279515D IN) is looking to raise around US$121m in its upcoming India IPO.
- Survival Technologies (ST) is a contract research and manufacturing services (CRAMS) focused speciality chemical manufacturer in India.
- ST has seen its profitability grow and margins expand during the track record period. However, the company seems to have had a number of run-ins with the authorities.
CATERPILLAR INC. – Equity Research Flash Note
- Caterpillar Inc. is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.
- The Company operates through its three primary segments: Construction Industries, Resource Industries and Energy & Transportation.
- It also provides fi- nancing and related services through its Financial Products segment.
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