In today’s briefing:
- Event Trading on KOSPI Transfer Listings: Notable Post-Listing Price Patterns
- An Early Look at the Potential KOSPI200 Rebalance Candidates in June 2024
Event Trading on KOSPI Transfer Listings: Notable Post-Listing Price Patterns
- In the past year, four KOSPI transfer listings showed similar patterns, with pre-listing price increases and substantial corrections in the first five trading days post-listing.
- ChatGPTAmid a sideways market and a 54.2% YoY growth in the local ETF market last year, the impact of passive flow imbalances may have been more significant than before.
- A key factor is the short-selling ban. Posco DX’s SSFs showed significant backwardation pre-KOSPI listing, concentrating proactive short positions, requiring caution in adjusting pre-listing short position costs.
An Early Look at the Potential KOSPI200 Rebalance Candidates in June 2024
- We discuss the potential KOSPI200 rebalance candidates in June 2024. In the past several years, there have been a lot of alpha generating stocks arising from the KOSPI200 rebalances.
- The following companies are likely candidates which could be included in KOSPI200 rebalance in June 2024, including Posco DX, Doosan Robotics, Hyosung Heavy Industries Corp, and DS Dansuk.
- For the potential exclusion candidates, we included 10 stocks that are in the bottom 5% market caps in KOSPI200.
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