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 Nov 21st. The aggregated holding was USD776.5bn.</li>
<li>We estimate that foreign flows to be outflows of USD3,001mln. We tabulate 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, Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES, KB Financial, Samsung Elec (PREF).</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Nov 21st. The aggregated holding was USD776.5bn.
We estimate that foreign flows to be outflows of USD3,001mln. We tabulate 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, Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES, KB Financial, Samsung Elec (PREF).


KRX Foreign Holding Weekly (Nov 21st): SK Hynix, Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (21 November to 5 December 2025).</li>
<li>Our top 10 picks in the past two weeks (7 to 21 November) were up on average 1.4% this period, outperforming KOSPI which was down 2.5% in the same period.</li>
<li>Our top 10 picks in the next two weeks include LG CNS, Hana Financial, Orion Corp, KT&amp;G, Naver, KEPCO E&amp;C, Hanmi Pharm, Amorepacific Corp, LG Chem (Pref), and SK Inc. </li>
</ul>


In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (21 November to 5 December 2025).
Our top 10 picks in the past two weeks (7 to 21 November) were up on average 1.4% this period, outperforming KOSPI which was down 2.5% in the same period.
Our top 10 picks in the next two weeks include LG CNS, Hana Financial, Orion Corp, KT&amp;G, Naver, KEPCO E&amp;C, Hanmi Pharm, Amorepacific Corp, LG Chem (Pref), and SK Inc. 


Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly 21 November to 5 December 2025)

Equity/Index & Cross Asset Volatility Specialist, Cameron Design

Jay Cameron

Equity/Index & Cross Asset Volatility Specialist

Cameron Design

We specialize in financial products and volatility. Our strategies balance speed, data, and risk control to capture opportunities across global markets. Our research leverages AI and data analytics to continuously refine our algorithms and adapt to evolving market dynamics.

Equity Derivatives

<ul>
<li>Kioxia set for inclusion in the Nikkei Semiconductor Index next week, alongside JX Advanced Metals, less than one day's average daily volume in passive inflow at the close.</li>
<li>Kioxia's Q2 2025 results show an accelerating QoQ recovery and solid Q3 2025 forecasts, driven by high demand from data center and smart device products, confirming effective business structure reform.</li>
<li>Stock is fairly valued after 2025 rally, potential weaknesses being value metrics such as P/E alongside execution of margin and product pipeline targets.</li>
</ul>


Kioxia set for inclusion in the Nikkei Semiconductor Index next week, alongside JX Advanced Metals, less than one day's average daily volume in passive inflow at the close.
Kioxia's Q2 2025 results show an accelerating QoQ recovery and solid Q3 2025 forecasts, driven by high demand from data center and smart device products, confirming effective business structure reform.
Stock is fairly valued after 2025 rally, potential weaknesses being value metrics such as P/E alongside execution of margin and product pipeline targets.


The Nikkei Semiconductor Index Rebalance, Kioxia, Nikkei Volatility Hedge

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

<ul>
<li>NVIDIA’s AI Factory Buildout Signals Multi-Year Demand for Taiwan’s Supply Chain</li>
<li>TSMC’s Growth Outlook De-Risked by NVIDIA's Smooth Transition to GB300</li>
<li>NVIDIA's Networking Segment Surge Expands System-Level Product Integration Opportunity for Taiwan Ecosystem</li>
</ul>


NVIDIA’s AI Factory Buildout Signals Multi-Year Demand for Taiwan’s Supply Chain
TSMC’s Growth Outlook De-Risked by NVIDIA's Smooth Transition to GB300
NVIDIA's Networking Segment Surge Expands System-Level Product Integration Opportunity for Taiwan Ecosystem


NVIDIA Results: Taiwan Take-Aways -- Demand Visibility Implies Strength for Key Suppliers

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Nov 14th. The aggregated short interest was USD11.9bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES, Alteogen, HanmiPharm, SK Hynix.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Nov 14th. The aggregated short interest was USD11.9bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES, Alteogen, HanmiPharm, SK Hynix.


KRX Short Interest Weekly (Nov 14th): Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES, Alteogen

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)

KRX Foreign Holding Weekly (Nov 21st): SK Hynix, Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Doosan Enerbility, HD HYUNDAI HEAVY...

Ke Yan, CFA, FRM

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly 21 November to 5 December 2025)

In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (21 November to 5 December...

Douglas Kim

The Nikkei Semiconductor Index Rebalance, Kioxia, Nikkei Volatility Hedge

Kioxia to be added to Nikkei Semiconductor Index after positive Q2 results and optimistic Q3 forecasts, but potential concerns over valuation and...

Jay Cameron

NVIDIA Results: Taiwan Take-Aways -- Demand Visibility Implies Strength for Key Suppliers

NVIDIA's expansion and smooth transition to new products signal long-term demand for Taiwan's supply chain and growth opportunities for TSMC.

Vincent Fernando, CFA

KRX Short Interest Weekly (Nov 14th): Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES, Alteogen

We analyzed KRX short interest report for the past week and highlighted short interest changes in Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

KRX Foreign Holding Weekly (Nov 21st): SK Hynix, Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Doosan Enerbility, HD HYUNDAI HEAVY...

Ke Yan, CFA, FRM

Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly 21 November to 5 December 2025)

In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (21 November to 5 December...

Douglas Kim

The Nikkei Semiconductor Index Rebalance, Kioxia, Nikkei Volatility Hedge

​Kioxia to be added to Nikkei Semiconductor Index after positive Q2 results and optimistic Q3 forecasts, but potential concerns over valuation and...

Jay Cameron

NVIDIA Results: Taiwan Take-Aways -- Demand Visibility Implies Strength for Key Suppliers

​NVIDIA's expansion and smooth transition to new products signal long-term demand for Taiwan's supply chain and growth opportunities for TSMC.

Vincent Fernando, CFA

KRX Short Interest Weekly (Nov 14th): Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES, Alteogen

We analyzed KRX short interest report for the past week and highlighted short interest changes in Doosan Enerbility, HD HYUNDAI HEAVY INDUSTRIES,...

Ke Yan, CFA, FRM

Kioxia to be added to Nikkei Semiconductor Index after positive Q2 results and optimistic Q3 forecasts, but potential concerns over valuation and...

NVIDIA's expansion and smooth transition to new products signal long-term demand for Taiwan's supply chain and growth opportunities for TSMC.