In today’s briefing:
- KRX New Deal Index Rebalance Preview: Interesting Changes Emerging
- Hyundai Elevator Chairwoman Hyun Seeks Capital from H&Q Korea
KRX New Deal Index Rebalance Preview: Interesting Changes Emerging
- The review period for the September rebalance ends on 31 July, the changes will be announced towards end August and implemented at the close of trading on 7 September.
- There is one change currently for each of the Secondary Battery, Bio, Internet and Game indices. Plus there are a couple of changes for the BBIG indices.
- SK Biopharmaceuticals Co Ltd (326030 KS) has overtaken SK Bioscience (302440 KS) on average market cap and there will be large flows on both stocks at the rebalance.
Hyundai Elevator Chairwoman Hyun Seeks Capital from H&Q Korea
- It was reported in the local media that Hyundai Elevator Chairwoman Hyun Jeong-Eun is close to completing a deal with H&Q Korea in a deal worth nearly 300 billion won.
- The three major reasons driving higher share price of Hyundai Elevator in the last three months include share buyback/cancellation, potential M&A, and solid 1Q 2023 results.
- With noticeable downturn in the Korean construction sector, Hyundai Elevator could face worsening industry prospects for both residential and commercial elevators in the next 12-24 months in Korea.
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