Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>Our WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.</li>
<li>We apply our quantitative models to each instrument's trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it.</li>
<li>
Most overbought: Samsung Electronics, SK Hynix, Gold and Oil. Most oversold: NetEase Cloud M,Nikkei 225,Hitachi, Broadcom</li>
</ul>


Our WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.
We apply our quantitative models to each instrument's trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it.

Most overbought: Samsung Electronics, SK Hynix, Gold and Oil. Most oversold: NetEase Cloud M,Nikkei 225,Hitachi, Broadcom


WEEKLY Tactical Recap: Samsung Electronics, SK Hynix, Nikkei 225, CATL, Tokyo Electron, Gold, Oil

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a> is looking to raise around US$30bn via a new share issue to back ADRs listed on the NASDAQ.</li>
<li>The ADR to local share ratio is 10:1 and the ADRs are expected to start trading in the second half of July.</li>
<li>There will be passive buying from multiple index trackers and that will mop up a significant amount of the new share offering.</li>
</ul>



SK Hynix (000660 KS) is looking to raise around US$30bn via a new share issue to back ADRs listed on the NASDAQ.
The ADR to local share ratio is 10:1 and the ADRs are expected to start trading in the second half of July.
There will be passive buying from multiple index trackers and that will mop up a significant amount of the new share offering.


SK Hynix (000660 KS; SKHY US) ADR Issue: Large Index Flows & Potential Timing

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a> (SKH), a leading global memory producer, aims to raise over US$10bn via an ADR listing.</li>
<li>SKH has confidentially filed for an ADR issuance which could see it potentially launch a raising in July 2026, as per media reports.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



SK Hynix (000660 KS) (SKH), a leading global memory producer, aims to raise over US$10bn via an ADR listing.
SKH has confidentially filed for an ADR issuance which could see it potentially launch a raising in July 2026, as per media reports.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequitas: SK Hynix ADR Listing - Part 1 - Early Look at the US$10-15bn Offering

Derivatives and Quantitative Strategist

Gaudenz Schneider

<ul>
<li>
Context: Korea’s new 2x single-stock ETFs on Samsung Electronics and SK hynix attracted strong early inflows, but performance since launch has been disappointing.</li>
<li>
Mechanics: Daily leveraged ETFs rebalance exposure each day, creating a pro-cyclical pattern: they buy after gains and sell after losses to maintain the 2x target.</li>
<li>
Implication: The structure can enhance returns in trending markets, but choppy conditions can rapidly erode value — making these products best suited to short-term tactical momentum exposure.</li>
</ul>



Context: Korea’s new 2x single-stock ETFs on Samsung Electronics and SK hynix attracted strong early inflows, but performance since launch has been disappointing.

Mechanics: Daily leveraged ETFs rebalance exposure each day, creating a pro-cyclical pattern: they buy after gains and sell after losses to maintain the 2x target.

Implication: The structure can enhance returns in trending markets, but choppy conditions can rapidly erode value — making these products best suited to short-term tactical momentum exposure.


Samsung Elec (005930 KS) & SK Hynix (000660 KS): New 2x Leveraged ETFs Face First Reality Check

<ul>
<li>August MTD marks the first monthly outflow since launch: <a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK hynix (000660 KS)</a> 2x leveraged ETFs combined AUM fell 20% to KRW 4.2tn amid KRW 777bn in net outflows.</li>
<li>The 2x Leveraged Index fell 4.7% despite the underlying stock remaining broadly flat, reflecting performance drag in a sideways market.</li>
<li>The 2x inverse ETF lost 12.8% despite a broadly flat underlying stock, highlighting the risks of holding daily-reset products beyond very short trading periods.</li>
</ul>


August MTD marks the first monthly outflow since launch: SK hynix (000660 KS) 2x leveraged ETFs combined AUM fell 20% to KRW 4.2tn amid KRW 777bn in net outflows.
The 2x Leveraged Index fell 4.7% despite the underlying stock remaining broadly flat, reflecting performance drag in a sideways market.
The 2x inverse ETF lost 12.8% despite a broadly flat underlying stock, highlighting the risks of holding daily-reset products beyond very short trading periods.


SK Hynix (000660 KS): 2x Leveraged ETFs Record First Monthly Net Outflow

South Korea

SK Hynix Inc. provides products and services for the electronic components industry. The Company manufactures semiconductors, such as dynamic random access memory (DRAM), NAND flash memory, and static random access memory (SRAM) chips.

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SK Hynix (000660 KS)

WEEKLY Tactical Recap: Samsung Electronics, SK Hynix, Nikkei 225, CATL, Tokyo Electron, Gold, Oil

Weekly Global Macro Tactical Recap: our models tracks trends across asset classes to highlight overbought/oversold market conditions across Asian...

Nico Rosti