Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jun 27th. The aggregated holding was USD625.5bn.</li>
<li>We estimate that foreign flows to be inflows of USD100mln. We tabulates the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in SK Hynix, Kakaopay, Naver.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jun 27th. The aggregated holding was USD625.5bn.
We estimate that foreign flows to be inflows of USD100mln. We tabulates the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, Kakaopay, Naver.


KRX Foreign Holding Weekly (Jun 27th): SK Hynix, Kakaopay, Naver

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We discussed in last week's June 19 report how bullish price and RS trends on Israel's TA-125 was our tell that global equities were looking past Israel-Iran tensions.</li>
<li>Now completely in the rear-view mirror.  We also discussed how we were expecting short-term support on ACWI-US at $123-$123.50 (6.5-month base support), and ACWI-US bottomed at $123.20 on Monday.</li>
<li>As a result, we remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
</ul>


We discussed in last week's June 19 report how bullish price and RS trends on Israel's TA-125 was our tell that global equities were looking past Israel-Iran tensions.
Now completely in the rear-view mirror.  We also discussed how we were expecting short-term support on ACWI-US at $123-$123.50 (6.5-month base support), and ACWI-US bottomed at $123.20 on Monday.
As a result, we remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).


Downgrading Germany and Ireland; Global Technology Still Leading; Crucial Base Supports Holding

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Shinhan Financial / Equity Capital Markets

<ul>
<li>Affinity Equity Partners is looking to raise around US$425m via selling 1.9% of its stake in <a href="https://www.smartkarma.com/entities/shinhan-financial-group-ltd" target="_blank" data-smartkarma-citation="entities:6978:1" rel="noopener">Shinhan Financial (055550 KS).</a>
</li>
<li>Affinity had sold half of its stake earlier in 2024, when the company witnessed a number of selldowns in 1H24.</li>
<li>In this note, we will talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>


Affinity Equity Partners is looking to raise around US$425m via selling 1.9% of its stake in Shinhan Financial (055550 KS).

Affinity had sold half of its stake earlier in 2024, when the company witnessed a number of selldowns in 1H24.
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.


Shinhan Financial Group Placement - Clean-Up Trade but Stock Is at All Time-Highs

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>LG CNS has been one of the hottest stocks in the Korean stocks market in the past one month (up 87%), sharply outperforming KOSPI.</li>
<li><em><strong>The biggest driver of LG CNS's share price in the past month has been that this company has the potential to become a leading stablecoin platform in Korea.  </strong></em></li>
<li>Many investors believe that LG CNS has the expertise in blockchain/AI/cryptocurrency backend solutions to become one of the leading Won based stablecoin platforms in Korea.</li>
</ul>


LG CNS has been one of the hottest stocks in the Korean stocks market in the past one month (up 87%), sharply outperforming KOSPI.
The biggest driver of LG CNS's share price in the past month has been that this company has the potential to become a leading stablecoin platform in Korea.  
Many investors believe that LG CNS has the expertise in blockchain/AI/cryptocurrency backend solutions to become one of the leading Won based stablecoin platforms in Korea.


Why Is LG CNS One of the Hottest Stocks in Korea in the Past One Month? Answer: Stablecoin Platform

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jun 20th. The aggregated holding was USD604.3bn.</li>
<li>We estimate that foreign flows to be outflows of USD885mln. We tabulates the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in SK Hynix, Lg Cns, Doosan Enerbility, Hanwha Aerospace, Samsung Electronics.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jun 20th. The aggregated holding was USD604.3bn.
We estimate that foreign flows to be outflows of USD885mln. We tabulates the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, Lg Cns, Doosan Enerbility, Hanwha Aerospace, Samsung Electronics.


KRX Foreign Holding Weekly (Jun 20th): SK Hynix, Lg Cns, Doosan Enerbility, Hanwha Aerospace

South Korea

Naver Corp. provides Internet site with web portal services, such as search engine, online game and content development.  The Company also offers marketing service through text and banner advertisement.

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Naver Corp (035420 KS)

KRX Foreign Holding Weekly (Jun 27th): SK Hynix, Kakaopay, Naver

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Kakaopay, Naver.

Ke Yan, CFA, FRM

Downgrading Germany and Ireland; Global Technology Still Leading; Crucial Base Supports Holding

Downgrading Germany and Ireland; Global Technology Still Leading; Crucial Base Supports Holding on $ACWI ($123-123.50), $EEM ($46)

Vermilion Research

Shinhan Financial Group Placement - Clean-Up Trade but Stock Is at All Time-Highs

Affinity Equity Partners is looking to raise around US$425m via selling 1.9% of its stake in Shinhan Financial (055550 KS).

Sumeet Singh

Why Is LG CNS One of the Hottest Stocks in Korea in the Past One Month? Answer: Stablecoin Platform

The biggest driver of LG CNS's share price in the past month has been that this company has the potential to become a leading stablecoin platform...

Douglas Kim

KRX Foreign Holding Weekly (Jun 20th): SK Hynix, Lg Cns, Doosan Enerbility, Hanwha Aerospace

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Lg Cns, Doosan Enerbility, Hanwha...

Ke Yan, CFA, FRM

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52-week Range

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