Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>There was one ADD and one DEL for the MV US Semiconductor 25 index and the MV US Semiconductor 10% capped ESG-screened index.</li>
<li>We expect MVSemi25 to trade US$4.45bn and MVSemi10% to trade US$900mm one-way for September 2026. Some small flows offset. The event is on the 18th at the close (Friday).</li>
<li>SK Hynix (SKHY US) is expected to see US$4.3bn to buy.</li>
</ul>


There was one ADD and one DEL for the MV US Semiconductor 25 index and the MV US Semiconductor 10% capped ESG-screened index.
We expect MVSemi25 to trade US$4.45bn and MVSemi10% to trade US$900mm one-way for September 2026. Some small flows offset. The event is on the 18th at the close (Friday).
SK Hynix (SKHY US) is expected to see US$4.3bn to buy.


[Quiddity Index] MV Semiconductor Indices Sep26 Rebal Results: One ADD/DEL; US$5bn+ to Trade One-Way

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hong-kong-hang-seng-index" target="_blank" data-smartkarma-citation="entities:22899" rel="noopener">Hang Seng Index (HSI INDEX)</a>, <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906" rel="noopener">Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX EQUITY)</a> and <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909" rel="noopener">Nikkei 225 (NKY INDEX)</a> all have elevated implied vols vs their peers and vs historical observations for October.</li>
<li>
<a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617" rel="noopener">NIFTY Index (NIFTY INDEX)</a> , <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> and <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901" rel="noopener">S&amp;P/ASX 200 (AS51 INDEX)</a>  implied vols are on the low end of what is typically realized in October.</li>
<li>Most markets see price weakness in the 3rd week of the month with realized volatility underperforming over the back half of the month.</li>
</ul>



Hang Seng Index (HSI INDEX), Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX EQUITY) and Nikkei 225 (NKY INDEX) all have elevated implied vols vs their peers and vs historical observations for October.

NIFTY Index (NIFTY INDEX) , S&amp;P 500 INDEX (SPX INDEX) and S&amp;P/ASX 200 (AS51 INDEX)  implied vols are on the low end of what is typically realized in October.
Most markets see price weakness in the 3rd week of the month with realized volatility underperforming over the back half of the month.


EQD | Asia Monthly Vol Roadmap: Elevated IV's in CSI300 and Hang Seng Present Tactical Opportunity

Equity Long-Short

Mo Aziz

Equity Bottom-Up

<ul>
<li>SK Hynix fell 31% from our initiation despite a record 76% Q2 operating margin. Six structural, Korea-specific forces drove the selloff; none touch the investment thesis.</li>
<li>Every pillar confirmed: Q2 OPM 76% (fifth consecutive record), ~10 LTAs signed, Nvidia US$500bn LOI secured, and CEO Kwak commits US$64bn to new capacity — calling shortage "through 2030."</li>
<li>BULLISH maintained; TP revised to ₩2,700,000 on 10× FY2027E EPS ₩270,000. The multiple cut — from 13× — reflects AI sustainability fears and Korea's volatility premium, not earnings deterioration.</li>
</ul>


SK Hynix fell 31% from our initiation despite a record 76% Q2 operating margin. Six structural, Korea-specific forces drove the selloff; none touch the investment thesis.
Every pillar confirmed: Q2 OPM 76% (fifth consecutive record), ~10 LTAs signed, Nvidia US$500bn LOI secured, and CEO Kwak commits US$64bn to new capacity — calling shortage "through 2030."
BULLISH maintained; TP revised to ₩2,700,000 on 10× FY2027E EPS ₩270,000. The multiple cut — from 13× — reflects AI sustainability fears and Korea's volatility premium, not earnings deterioration.


SK HYNIX (000660 KS / SKHY US): TP Revised to ₩2,700,000 | BULLISH Maintained | Thesis Intact

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

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

<ul>
<li>Profit targets presented in our previous/latest <a href="https://www.smartkarma.com/insights/sk-hynix-000660-ks-uptrend-resuming-tactical-entry-long-term" target="_blank" rel="noopener">insight</a> on <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> were updated last Friday and are presented here, they override any previous profit target presented.</li>
<li>The stock started a strong rally this week, it may continue for 3 weeks, including this week.</li>
<li>The rally could reach 2,000,000 on the third week, but there is a barrier after 2,100,000 so we do not expect this rally to go higher. </li>
</ul>


Profit targets presented in our previous/latest insight on SK Hynix (000660 KS) were updated last Friday and are presented here, they override any previous profit target presented.
The stock started a strong rally this week, it may continue for 3 weeks, including this week.
The rally could reach 2,000,000 on the third week, but there is a barrier after 2,100,000 so we do not expect this rally to go higher. 


SK Hynix (000660 KS) Profit Targets - Tactical UPDATE

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>SK Hynix announced a major treasury shares repurchase and cancellation of about 40 trillion won ($29 billion), representing about 3.3% of outstanding shares. </li>
<li>SK Hynix plans to return more than 50% of the cumulative free cash flow (FCF) generated during 2025-2027E to shareholders.</li>
<li>In terms of trading implications in the next several weeks, this could positively boost SK Hynix's share price back to about 2,200,000 won level (about 40-50% upside).</li>
</ul>


SK Hynix announced a major treasury shares repurchase and cancellation of about 40 trillion won ($29 billion), representing about 3.3% of outstanding shares. 
SK Hynix plans to return more than 50% of the cumulative free cash flow (FCF) generated during 2025-2027E to shareholders.
In terms of trading implications in the next several weeks, this could positively boost SK Hynix's share price back to about 2,200,000 won level (about 40-50% upside).


SK Hynix's 40 Trillion Won Share Buyback and Cancellation - Trading Implications

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)

[Quiddity Index] MV Semiconductor Indices Sep26 Rebal Results: One ADD/DEL; US$5bn+ to Trade One-Way

The MV Global US Semi and US Semi 10% Capped Indices announced rebals on Friday. The rebal is 18 Sep. $5+bn one-way to trade across these two...

Travis Lundy

EQD | Asia Monthly Vol Roadmap: Elevated IV's in CSI300 and Hang Seng Present Tactical Opportunity

Implied volatility levels across key Asian indices present several tactical opportunities this month for outright or pairs trades...

John Ley