In today’s briefing:
- TIGER (FnGuide) Top 10 ETF Rebalancing: Noteworthy Changes Emerging
- WCP IPO Trading – Peer Correction Means Price Cut Still Wasn’t Enough
- Launch of KRX/S&P ESG High Dividends Index
TIGER (FnGuide) Top 10 ETF Rebalancing: Noteworthy Changes Emerging
- There was a substantial increase in the AUM even in the current market condition. More funds must have sought blue chip stocks as relatively safe assets in this volatile market.
- Celltrion and LG Energy Solution will likely replace KB Financial and Shinhan Financial. On the other hand, POSCO is out of the race even with a +5%p float rate change.
- LG Energy also has an up-weight event of the KOSPI 200. Since these passive flow events have an interval of only one day, we expect a fairly concentrated passive impact.
WCP IPO Trading – Peer Correction Means Price Cut Still Wasn’t Enough
- WCP raised around US$314m via selling a mix of primary and secondary shares in its Korean IPO.
- WCP designs, manufactures, and sells separators, which are one of the four core materials for secondary Lithium-ion batteries.
- In this note, we will talk about the demand for the deal and other trading dynamics.
Launch of KRX/S&P ESG High Dividends Index
- KRX plans to launch KRX/S&P ESG High Dividends Index on 4 October. This index will be composed of stocks in KOSPI 200 which have high dividend yields and ESG scores.
- We provided a list of 20 stocks in KOSPI with high dividend yields with at least 500 billion won in market cap and those that have higher ESG scores.
- Amid a major downturn in the global stock markets, there is a greater emphasis on the preservation of capital and increasing capital allocation to higher dividend yielding stocks.
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