Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

Event-Driven

<p>What's going on at Hyundai Mobis (and Glovis)?</p><p>Once again, the same old rumor emerged in the local market yesterday.</p><div class="content-highlight"><h2><strong>Chung Eui-sun will sell 10% of his Glovis stake in block deals. Then, he will use the proceeds to buy Mobis shares.</strong></h2></div><p><strong>Why do we keep hearing this rumor?</strong></p><p>For this, we need to know the Korea FTC's intra-group transaction restrictions.</p><p>If the owner family's shareholding in a chaebol affiliate exceeds the threshold, the affiliate will become subject to the intra-group transaction restrictions.</p><p>A company under the intra-group transaction restrictions isn't allowed to exceed intra-group deals for more than ₩20B (or 12% of total sales).</p><p><strong>Currently, Hyundai Glovis is the problem within the Hyundai Motor Group. The intra-group deals account for 69.8% (₩9.8T) of the total revenue last year (₩14.5T).</strong></p><p>The shareholding threshold is 30% for listed companies and 20% for unlisted companies.</p><p>Glovis has been able to escape the restrictions as the Chung family (Chung Mong-koo and Chung Eui-sun combined) have slightly less than 30%.</p><table class="table table-striped">
<colgroup>
<col width="100">
<col width="100">
<col width="100">
<col width="100">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Hyundai Glovis"}'>Hyundai Glovis</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Shares"}' data-sheets-numberformat='{"1":4,"2":"[$₩-412]#,##0"}'>Shares</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"%"}'>%</td>
<td style="text-align: right;" data-sheets-value='{"1":2,"2":"Value (₩B)"}'>Value (₩B)</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Chung Eui-sun"}'>Chung Eui-sun</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":8732290}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>8,732,290</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.2329}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>23.29%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1563.34125}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5">1,563.3</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Den Norske Amerikalinje AS"}'>Den Norske Amerikalinje AS</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":4125000}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>4,125,000</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.11}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>11.00%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":738.375}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5">738.4</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Chung Mong-koo"}'>Chung Mong-koo</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2517701}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>2,517,701</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0671}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>6.71%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":450.40875000000005}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5">450.4</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Hyundai Motor"}'>Hyundai Motor</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1830939}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>1,830,939</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0488}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>4.88%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":327.57}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5">327.6</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"HM CMK Foundation"}'>HM CMK Foundation</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":1671018}' data-sheets-numberformat='{"1":2,"2":"#,##0"}'>1,671,018</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.0446}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'>4.46%</td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":299.3775}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5">299.4</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"Chung Eui-sun+Chung Mong-koo"}'><strong>Chung Eui-sun+Chung Mong-koo</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":11249991}' data-sheets-numberformat='{"1":2,"2":"#,##0"}' data-sheets-formula="=R[-3]C[0]+R[-5]C[0]"><strong>11,249,991</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":0.2999}' data-sheets-numberformat='{"1":3,"2":"0.00%","3":1}'><strong>29.99%</strong></td>
<td style="text-align: right;" data-sheets-value='{"1":3,"3":2013.07875}' data-sheets-numberformat='{"1":2,"2":"#,##0.0"}' data-sheets-formula="=R[0]C[-1]*R10C5"><strong>2,013.1</strong></td>
</tr>
<tr><td colspan="4" rowspan="1" data-sheets-value='{"1":2,"2":"Source: FnGuide"}'>Source: FnGuide</td></tr>
</tbody>
</table><p>But starting next year, the threshold for listed companies will also become 20%.</p><p>This is exactly why we keep hearing this rumor because Chung Eui-sun has to reduce his stake by 10%p so that the family-owned combined stake falls below 20%.</p><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/199/625/original/image?1617927547" class="editor-image img-responsive" data-smartkarma-image-id="199625"></figure>

What's going on at Hyundai Mobis (and Glovis)?Once again, the same old rumor emerged in the local market yesterday.Chung Eui-sun will sell 10% of his Glovis stake in block deals. Then, he will use the proceeds to buy Mobis shares.Why do we keep hearing this rumor?For this, we need to know the Korea FTC's intra-group transaction restrictions.If the owner family's shareholding in a chaebol affiliate exceeds the threshold, the affiliate will become subject to the intra-group transaction restrictions.A company under the intra-group transaction restrictions isn't allowed to exceed intra-group deals for more than ₩20B (or 12% of total sales).Currently, Hyundai Glovis is the problem within the Hyundai Motor Group. The intra-group deals account for 69.8% (₩9.8T) of the total revenue last year (₩14.5T).The shareholding threshold is 30% for listed companies and 20% for unlisted companies.Glovis has been able to escape the restrictions as the Chung family (Chung Mong-koo and Chung Eui-sun combined) have slightly less than 30%.








Hyundai Glovis
Shares
%
Value (₩B)


Chung Eui-sun
8,732,290
23.29%
1,563.3


Den Norske Amerikalinje AS
4,125,000
11.00%
738.4


Chung Mong-koo
2,517,701
6.71%
450.4


Hyundai Motor
1,830,939
4.88%
327.6


HM CMK Foundation
1,671,018
4.46%
299.4


Chung Eui-sun+Chung Mong-koo
11,249,991
29.99%
2,013.1

Source: FnGuide

But starting next year, the threshold for listed companies will also become 20%.This is exactly why we keep hearing this rumor because Chung Eui-sun has to reduce his stake by 10%p so that the family-owned combined stake falls below 20%.

Glovis Block Deals by Chung & Buy Mobis Shares: Unlikely to Happen

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Quantitative Analysis

<div><p>The Asia Short Interest weekly looks at moves in market wide short interest and highlights movements in stock specific short interest across Hong Kong, Japan, Korea and Taiwan using the last available data published by the relevant authorities.</p></div><div><p>Hong Kong saw shorts rise on <a href="https://www.smartkarma.com/entities/lenovo-group-ltd" target="_blank" data-smartkarma-citation="entities:13359:1" rel="noopener">Lenovo (992 HK)</a>, <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a>, <a href="https://www.smartkarma.com/entities/aia-group-ltd" target="_blank" data-smartkarma-citation="entities:14895:1" rel="noopener">AIA Group Ltd (1299 HK)</a> and <a href="https://www.smartkarma.com/entities/nongfu-spring" target="_blank" data-smartkarma-citation="entities:28955:1" rel="noopener">Nongfu Spring (9633 HK)</a> while there was short covering on <a href="https://www.smartkarma.com/entities/ping-an-insurance-grp-co-of-china-ltd" target="_blank" data-smartkarma-citation="entities:12880:1" rel="noopener">Ping An Insurance (H) (2318 HK)</a>, <a href="https://www.smartkarma.com/entities/alibaba-group" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group (9988 HK)</a>, <a href="https://www.smartkarma.com/entities/wuxi-apptec" target="_blank" data-smartkarma-citation="entities:23679:1" rel="noopener">Wuxi Biologics (2269 HK)</a>, <a href="https://www.smartkarma.com/entities/jinxin-fertility-group-ltd" target="_blank" data-smartkarma-citation="entities:28003:1" rel="noopener">Jinxin Fertility Co Ltd (1951 HK)</a> and <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com Inc. (9618 HK)</a>. Shorts increased on Real Estate, Communication Services and Information Technology, while decreasing on Consumer Discretionary, Health Care and Financials.</p></div><div><p>In Japan, stocks that saw the most shorts were <a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a>, <a href="https://www.smartkarma.com/entities/freee-kk" target="_blank" data-smartkarma-citation="entities:28424:1" rel="noopener">freee (4478 JP)</a>, <a href="https://www.smartkarma.com/entities/anritsu-corp" target="_blank" data-smartkarma-citation="entities:3700:1" rel="noopener">Anritsu Corp (6754 JP)</a> and <a href="https://www.smartkarma.com/entities/hino-motors-ltd" target="_blank" data-smartkarma-citation="entities:2144:1" rel="noopener">Hino Motors Ltd (7205 JP)</a> while shorts decreased on <a href="https://www.smartkarma.com/entities/itochu-corp" target="_blank" data-smartkarma-citation="entities:18448:1" rel="noopener">Itochu Corp (8001 JP)</a>, <a href="https://www.smartkarma.com/entities/canon-inc" target="_blank" data-smartkarma-citation="entities:1:1" rel="noopener">Canon Inc (7751 JP)</a>, <a href="https://www.smartkarma.com/entities/yaskawa-electric-corp" target="_blank" data-smartkarma-citation="entities:2458:1" rel="noopener">Yaskawa Electric (6506 JP)</a> and <a href="https://www.smartkarma.com/entities/taiyo-yuden-co-ltd" target="_blank" data-smartkarma-citation="entities:9924:1" rel="noopener">Taiyo Yuden (6976 JP)</a>. Sectorally, shorts increased marginally in Information Technology and Consumer Staples, while decreasing in Industrials and Communication Services.</p></div><div><p>In Korea, short increased on <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a>, <a href="https://www.smartkarma.com/entities/naver-corp" target="_blank" data-smartkarma-citation="entities:16029:1" rel="noopener">Naver Corp (035420 KS)</a>, <a href="https://www.smartkarma.com/entities/samsung-sdi-co-ltd" target="_blank" data-smartkarma-citation="entities:503:1" rel="noopener">Samsung SDI (006400 KS)</a> and <a href="https://www.smartkarma.com/entities/kia-motors-corp" target="_blank" data-smartkarma-citation="entities:156:1" rel="noopener">Kia Motors Corp (000270 KS)</a> while shorts decreased on <a href="https://www.smartkarma.com/entities/celltrion-inc" target="_blank" data-smartkarma-citation="entities:991:1" rel="noopener">Celltrion Inc (068270 KS)</a>, <a href="https://www.smartkarma.com/entities/gs-engineering-construct" target="_blank" data-smartkarma-citation="entities:15916:1" rel="noopener">GS Engineering &amp; Construction (006360 KS)</a> and <a href="https://www.smartkarma.com/entities/hana-financial-group" target="_blank" data-smartkarma-citation="entities:12843:1" rel="noopener">Hana Financial (086790 KS)</a>. </p></div><div><p>Stocks in Taiwan that saw the highest increase in shorts were <a href="https://www.smartkarma.com/entities/pegatron-corp" target="_blank" data-smartkarma-citation="entities:12852:1" rel="noopener">Pegatron Corp (4938 TT)</a>, <a href="https://www.smartkarma.com/entities/asmedia-technology-inc" target="_blank" data-smartkarma-citation="entities:15732:1" rel="noopener">Asmedia Technology (5269 TT)</a>, <a href="https://www.smartkarma.com/entities/taiwan-semiconductor-manufacturing-company" target="_blank" data-smartkarma-citation="entities:11230:1" rel="noopener">TSMC (2330 TT)</a> and <a href="https://www.smartkarma.com/entities/largan-precision-co-ltd" target="_blank" data-smartkarma-citation="entities:9126:1" rel="noopener">Largan Precision (3008 TT)</a> while shorts were covered on <a href="https://www.smartkarma.com/entities/united-microelectronics-corp" target="_blank" data-smartkarma-citation="entities:6450:1" rel="noopener">United Microelectronics Corp (2303 TT)</a>, <a href="https://www.smartkarma.com/entities/au-optronics-corp" target="_blank" data-smartkarma-citation="entities:6704:1" rel="noopener">Au Optronics (2409 TT)</a>, <a href="https://www.smartkarma.com/entities/alchip-technologies-ltd" target="_blank" data-smartkarma-citation="entities:20219:1" rel="noopener">Alchip Technologies (3661 TT)</a> and <a href="https://www.smartkarma.com/entities/flexium-interconnect-inc" target="_blank" data-smartkarma-citation="entities:15897:1" rel="noopener">Flexium Interconnect (6269 TT)</a>.</p></div>

The Asia Short Interest weekly looks at moves in market wide short interest and highlights movements in stock specific short interest across Hong Kong, Japan, Korea and Taiwan using the last available data published by the relevant authorities.Hong Kong saw shorts rise on Lenovo (992 HK), Tencent Holdings (700 HK), AIA Group Ltd (1299 HK) and Nongfu Spring (9633 HK) while there was short covering on Ping An Insurance (H) (2318 HK), Alibaba Group (9988 HK), Wuxi Biologics (2269 HK), Jinxin Fertility Co Ltd (1951 HK) and JD.com Inc. (9618 HK). Shorts increased on Real Estate, Communication Services and Information Technology, while decreasing on Consumer Discretionary, Health Care and Financials.In Japan, stocks that saw the most shorts were Toshiba Corp (6502 JP), freee (4478 JP), Anritsu Corp (6754 JP) and Hino Motors Ltd (7205 JP) while shorts decreased on Itochu Corp (8001 JP), Canon Inc (7751 JP), Yaskawa Electric (6506 JP) and Taiyo Yuden (6976 JP). Sectorally, shorts increased marginally in Information Technology and Consumer Staples, while decreasing in Industrials and Communication Services.In Korea, short increased on Samsung Electronics (005930 KS), Naver Corp (035420 KS), Samsung SDI (006400 KS) and Kia Motors Corp (000270 KS) while shorts decreased on Celltrion Inc (068270 KS), GS Engineering &amp; Construction (006360 KS) and Hana Financial (086790 KS). Stocks in Taiwan that saw the highest increase in shorts were Pegatron Corp (4938 TT), Asmedia Technology (5269 TT), TSMC (2330 TT) and Largan Precision (3008 TT) while shorts were covered on United Microelectronics Corp (2303 TT), Au Optronics (2409 TT), Alchip Technologies (3661 TT) and Flexium Interconnect (6269 TT).

Asia Short Interest: Lenovo, AIA, Nongfu, Wuxi Bio, Toshiba, Freee, Canon, Samsung, Celltrion, TSMC

Global Emerging Market Equities, Propitious Research

Wium Malan, CFA

Global Emerging Market Equities

Thematic (Sector/Industry)

<p>This insight provides a summary of the key news developments impacting the largest countries and constituents of the Global Emerging Markets equity indices. </p><p><strong><em>Companies mentioned this week:</em></strong></p><p><a href="https://www.smartkarma.com/entities/mediatek-inc" target="_blank" data-smartkarma-citation="entities:772:1" rel="noopener">Mediatek Inc (2454 TT)</a>, <a href="https://www.smartkarma.com/entities/hyundai-motor-co" target="_blank" data-smartkarma-citation="entities:155:1" rel="noopener">Hyundai Motor Co (005380 KS)</a>, <a href="https://www.smartkarma.com/entities/kia-motors-corp" target="_blank" data-smartkarma-citation="entities:156:1" rel="noopener">Kia Motors Corp (000270 KS)</a>, <a href="https://www.smartkarma.com/entities/bytedance-technology" target="_blank" data-smartkarma-citation="entities:27936:1" rel="noopener">ByteDance (1460967D CH)</a>, <a href="https://www.smartkarma.com/entities/mtn-group-ltd" target="_blank" data-smartkarma-citation="entities:24897:1" rel="noopener">MTN Group Ltd (MTN SJ)</a>, <a href="https://www.smartkarma.com/entities/reliance-industries-ltd" target="_blank" data-smartkarma-citation="entities:198:1" rel="noopener">Reliance Industries (RIL IN)</a>, <a href="https://www.smartkarma.com/entities/vale-sa-7721577f-6c6a-4536-a829-92551c2bcd7f" target="_blank" data-smartkarma-citation="entities:27725:1" rel="noopener">Vale SA (VALE3 BZ)</a>, <a href="https://www.smartkarma.com/entities/petroleo-brasileiro-sa-1cc9bae4-1206-4157-b187-d2f98d7b3b2b" target="_blank" data-smartkarma-citation="entities:27684:1" rel="noopener">Petroleo Brasileiro SA (PETR4 BZ)</a> </p>

This insight provides a summary of the key news developments impacting the largest countries and constituents of the Global Emerging Markets equity indices. Companies mentioned this week:Mediatek Inc (2454 TT), Hyundai Motor Co (005380 KS), Kia Motors Corp (000270 KS), ByteDance (1460967D CH), MTN Group Ltd (MTN SJ), Reliance Industries (RIL IN), Vale SA (VALE3 BZ), Petroleo Brasileiro SA (PETR4 BZ) 

Global Emerging Markets Weekly: 5 February 2021

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<div class="content-highlight">
<p>On 5 February, a <a href="https://www.bloomberg.com/news/articles/2021-02-05/apple-talks-with-hyundai-kia-on-electric-car-paused-recently" target="_blank" rel="noopener">Bloomberg article</a> mentioned that the recent talks between <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple Inc (AAPL US)</a> and<a href="https://www.smartkarma.com/entities/kia-motors-corp" target="_blank" data-smartkarma-citation="entities:156:1" rel="noopener"> Kia Motors Corp (000270 KS)/</a><a href="https://www.smartkarma.com/entities/hyundai-motor-co" target="_blank" data-smartkarma-citation="entities:155:1" rel="noopener">Hyundai Motor Co (005380 KS)</a> have been put on hold. It appears that Apple has been in discussions with numerous other auto makers including the Japanese auto companies. </p>
<p>It is clear that Apple has been upset with the Hyundai Motor Group with the secret discussions between the two parties getting openly revealed in the major media outlets. In recent days, it has been<a href="https://appleinsider.com/articles/21/02/05/apple-reportedly-in-talks-with-multiple-japanese-automakers-over-apple-car" target="_blank" rel="noopener"> reported</a> that in addition to the Hyundai Motor Group, Apple is in discussions with <strong>at least six Japanese automakers </strong>including <a href="https://www.smartkarma.com/entities/nissan-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:72:1" rel="noopener">Nissan Motor (7201 JP)</a> and <a href="https://www.smartkarma.com/entities/mitsubishi-motors-corp" target="_blank" data-smartkarma-citation="entities:794:1" rel="noopener">Mitsubishi Motors (7211 JP)</a> for potential partnership to develop and produce electric vehicles. </p>
</div>


On 5 February, a Bloomberg article mentioned that the recent talks between Apple Inc (AAPL US) and Kia Motors Corp (000270 KS)/Hyundai Motor Co (005380 KS) have been put on hold. It appears that Apple has been in discussions with numerous other auto makers including the Japanese auto companies. 
It is clear that Apple has been upset with the Hyundai Motor Group with the secret discussions between the two parties getting openly revealed in the major media outlets. In recent days, it has been reported that in addition to the Hyundai Motor Group, Apple is in discussions with at least six Japanese automakers including Nissan Motor (7201 JP) and Mitsubishi Motors (7211 JP) for potential partnership to develop and produce electric vehicles. 


Apple - Dumping Hyundai Motor Group in Favor of Japanese Auto Companies to Develop EVs?

<div class="content-highlight"><p><a href="https://www.smartkarma.com/entities/kia-motors-corp" target="_blank" data-smartkarma-citation="entities:156:1" rel="noopener">Kia Motors Corp (000270 KS)</a> shares increased 9.7% on 3 February to 97,700 won. Kia Motor's stock price has risen 57% YTD. Kia Motors' market share has climbed to 39.6 trillion won ($35.6 billion).<strong> It has been reported in the local media that <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple Inc (AAPL US)</a> plans to invest 4 trillion won ($3.6 billion) as a part of a collaboration with Kia Motors on making electric vehicles. </strong></p></div>

Kia Motors Corp (000270 KS) shares increased 9.7% on 3 February to 97,700 won. Kia Motor's stock price has risen 57% YTD. Kia Motors' market share has climbed to 39.6 trillion won ($35.6 billion). It has been reported in the local media that Apple Inc (AAPL US) plans to invest 4 trillion won ($3.6 billion) as a part of a collaboration with Kia Motors on making electric vehicles. 

Apple to Invest $3.6 Billion in Kia Motors: HMC Group Has Come a Long Way from the Sir Charles Ads

South Korea

Kia Corporation manufactures, sells, and exports passenger cars, mini-buses, trucks and commercial vehicles. The Company also manufactures auto-parts and tools using hybrid electric and fuel cell technology. Kia markets its products worldwide.

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Kia Corp (000270 KS)

Glovis Block Deals by Chung & Buy Mobis Shares: Unlikely to Happen

This post examines the Glovis block deals rumor by the Chung family and explains why it is unlikely to happen given the HMG restructuring dynamics.

Sanghyun Park

Asia Short Interest: Lenovo, AIA, Nongfu, Wuxi Bio, Toshiba, Freee, Canon, Samsung, Celltrion, TSMC

The Insight looks at large short interest movements across HK, Japan, Korea and Taiwan stocks and highlights large increases/decreases in shorts to...

Brian Freitas

Global Emerging Markets Weekly: 5 February 2021

This insight provides a summary of the key news developments impacting the largest countries and constituents of the Global Emerging Markets equity...

Wium Malan, CFA

Apple - Dumping Hyundai Motor Group in Favor of Japanese Auto Companies to Develop EVs?

On 5 February, a Bloomberg article mentioned that the recent talks between Apple Inc (AAPL US) and Hyundai Motor Group have been put on hold. Apple...

Douglas Kim

Apple to Invest $3.6 Billion in Kia Motors: HMC Group Has Come a Long Way from the Sir Charles Ads

It has been reported in the local media that Apple Inc (AAPL US) plans to invest 4 trillion won ($3.6 billion) as a part of a collaboration with...

Douglas Kim

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