In today’s briefing:
- Index Rebalance & ETF Flow Recap: KOSPI200, SET50, SMM SP, HSI, HSCI
- Dividend Record Date Changes Already in Progress in Korea: Trading Ramifications
Index Rebalance & ETF Flow Recap: KOSPI200, SET50, SMM SP, HSI, HSCI
- The changes to the Hang Seng family of indices and the SSE STAR50 (STAR50 INDEX) were announced post market close on Friday.
- Busy start to the coming week with the MSCI implementation at the close on 28 February and a few announcements to other indices later in the week.
- There were outflows from Tracker Fund of Hong Kong Ltd (2800 HK) during the week taking the YTD outflows to over US$1bn.
Dividend Record Date Changes Already in Progress in Korea: Trading Ramifications
- Notable names that have proposed amendments to their articles of association for changing the dividend record date at this year’s AGM include Hyundai Motor Group, POSCO Holdings, and Kakao Corp.
- There were skeptical views on how much response local big-name companies would show to Korea FSC’s plan. However, the response from large companies has been unexpectedly positive and aggressive.
- We should consider the possibility that the preferred stock premium of companies whose dividend visibility has improved through this may continue to improve compared to those that have not.
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