In today’s briefing:
- Why Will KT’s Foreign Room Stay Above 15% Until MSCI Review Period?
- Gap Trades in Korean Prefs Vs Common Share Pairs in 2Q 2023
Why Will KT’s Foreign Room Stay Above 15% Until MSCI Review Period?
- There is only one factor that could have affected KT’s foreign flow in mid-February, and that is the repurchase of its shares.
- If KT continues its buyback at the current pace, which is highly likely, we can bet that the foreign room will not fall below 15% until MSCI’s review period.
- This implies an essential premise for us to set up a more aggressive preemptive position on KT.
Gap Trades in Korean Prefs Vs Common Share Pairs in 2Q 2023
- In this insight, we discuss numerous gap trades involving Korean preferred and common shares in 2Q 2023.
- The excessive gaps in the preferred and common shares of CJ Corp, Samsung Electronics, and LG Electronics could reverse in the next several months, in our view.
- We see some attractive longer-term opportunities for Amorepacific Corp, Doosan Fuelcell, LG Electronics, and Samsung SDI which have especially high discounts for the preferred shares versus their counterpart common shares.
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