Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

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Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Equity Bottom-Up

Hyundai Engineering & Construction / Equity Bottom-Up

Hyundai Engineering & Construction (000720 KS)

<ul>
<li>The market seems to be focusing more on the cost risk increase than on Hyundai E&amp;C's sales growth following the top-line expansion of the urban renewal market.</li>
<li>Instead, the market is looking forward to the possibility that Hyundai E&amp;C's leap forward as a nuclear power solution provider will lead to a growth premium for the share price. </li>
<li>The trading point should be to target this risk when the price is peaking out from the nuclear power theme. Specifically, we need to consider a sector pair long/short setup.</li>
</ul>


The market seems to be focusing more on the cost risk increase than on Hyundai E&amp;C's sales growth following the top-line expansion of the urban renewal market.
Instead, the market is looking forward to the possibility that Hyundai E&amp;C's leap forward as a nuclear power solution provider will lead to a growth premium for the share price. 
The trading point should be to target this risk when the price is peaking out from the nuclear power theme. Specifically, we need to consider a sector pair long/short setup.


Daewoo Engineering & Construction (047040 KS)

GS Engineering & Construction (006360 KS)

Hyundai Engineering & Construction (000720 KS): Trading Points