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>
<a href="https://www.smartkarma.com/profiles/sanghyun-park" target="_blank" data-smartkarma-citation="accounts:354" rel="noopener">Sanghyun Park</a> has reported in detail about what seems to be going on behind closed doors at Samsung in regard to the foundry spin-off: read his insight - highly recommended.</li>
<li>We maintain our BUY recommendation for <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> and although we have not yet seen a strong rally, we see the stock slowly drifting upward from its bottom.</li>
<li>Our short-term tactical perspective covering the next 2–3 weeks is presented in this insight.</li>
</ul>



Sanghyun Park has reported in detail about what seems to be going on behind closed doors at Samsung in regard to the foundry spin-off: read his insight - highly recommended.
We maintain our BUY recommendation for Samsung Electronics (005930 KS) and although we have not yet seen a strong rally, we see the stock slowly drifting upward from its bottom.
Our short-term tactical perspective covering the next 2–3 weeks is presented in this insight.


Samsung Electronics (005930 KS) Outlook as Foundry Spin-Off Gains Momentum

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

<ul>
<li>Insiders say Google’s fast-growing phone biz now overlaps Samsung’s, sparking serious rivalry fears. This “Google shock” has become a major topic among Samsung’s top execs lately.</li>
<li>Sammy’s crisis plan involves carving out System LSI from foundry, with a likely spin-off of the foundry biz as a separate entity—insiders say that’s the favored move now.</li>
<li>Samsung’s restructuring sparks a tug-of-war between shareholder value erosion and foundry re-rating. A spin-off looks likely, with recent stock moves showing investor optimism.</li>
</ul>


Insiders say Google’s fast-growing phone biz now overlaps Samsung’s, sparking serious rivalry fears. This “Google shock” has become a major topic among Samsung’s top execs lately.
Sammy’s crisis plan involves carving out System LSI from foundry, with a likely spin-off of the foundry biz as a separate entity—insiders say that’s the favored move now.
Samsung’s restructuring sparks a tug-of-war between shareholder value erosion and foundry re-rating. A spin-off looks likely, with recent stock moves showing investor optimism.


Fresh Intel on Samsung’s Foundry Spin-Off Plan

<ul>
<li>Local chatter’s building that Samsung Electronics and Kakao might drop value-up disclosures by end-June to mid-July, as both cozy up to the new administration and move into its inner circle.</li>
<li>Jay Lee’s surprise solo meeting with President Lee marked a turning point, signaling Samsung’s intent to step out of SK’s shadow and take the lead under the new regime.</li>
<li>Value-Up details aren’t final, but Samsung’s likely to reaffirm &gt;35% payout, while Kakao’s set to focus on ROE improvement and multiple expansion.</li>
</ul>


Local chatter’s building that Samsung Electronics and Kakao might drop value-up disclosures by end-June to mid-July, as both cozy up to the new administration and move into its inner circle.
Jay Lee’s surprise solo meeting with President Lee marked a turning point, signaling Samsung’s intent to step out of SK’s shadow and take the lead under the new regime.
Value-Up details aren’t final, but Samsung’s likely to reaffirm &gt;35% payout, while Kakao’s set to focus on ROE improvement and multiple expansion.


Near-Term Value-Up Plays in the Pipeline: Samsung Electronics & Kakao

External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul><li>3Q25 OP set to beat consensus; quarterly OP to be in the W10tn range again</li><li>Another potential beneficiary of improving downstream demand</li><li>Still cheap given its chip business value picking up; TP and Buy rating unchanged</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

3Q25 OP set to beat consensus; quarterly OP to be in the W10tn range againAnother potential beneficiary of improving downstream demandStill cheap given its chip business value picking up; TP and Buy rating unchangedContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samsung Electronics (005930 KS) - Leader’s Turn to Rally

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

GigaDevice Semiconductor  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/gigadevice-semiconductor-inc" target="_blank" data-smartkarma-citation="entities:27253:1" rel="noopener">GigaDevice Semiconductor (603986 CH)</a> (GD), an IC design house, aims to raise around US$1bn in its H-share listing.</li>
<li>GD is a leading specialty memory chip and MCU company in mainland China.</li>
<li>We have looked at the company’s past performance in our previous note. In this note, we talk about the recent updates and likely A/H premium.</li>
</ul>



GigaDevice Semiconductor (603986 CH) (GD), an IC design house, aims to raise around US$1bn in its H-share listing.
GD is a leading specialty memory chip and MCU company in mainland China.
We have looked at the company’s past performance in our previous note. In this note, we talk about the recent updates and likely A/H premium.


GigaDevice A/H Listing - PHIP Updates and Thoughts on A/H Premium

South Korea

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

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Samsung Electronics (SMSN LI)

Samsung Electronics (005930 KS) Outlook as Foundry Spin-Off Gains Momentum

We maintain a BUY on Samsung Electronics as the foundry spin-off gains traction. The stock is drifting higher from recent lows. Tactical view...

Nico Rosti

Fresh Intel on Samsung’s Foundry Spin-Off Plan

This post shares the latest intel on Sammy’s foundry spin-off. Local chatter is picking up around a carve-out that could spark notable price movement.

Sanghyun Park

Near-Term Value-Up Plays in the Pipeline: Samsung Electronics & Kakao

This post covers near-term value-up plays in the pipeline — and the market’s buzzing about two heavyweights: Samsung Electronics and Kakao.

Sanghyun Park

Samsung Electronics (005930 KS) - Leader’s Turn to Rally

3Q25 OP set to beat consensus; quarterly OP to be in the W10tn range again. Another potential beneficiary of improving downstream demand

Daishin Securities

GigaDevice A/H Listing - PHIP Updates and Thoughts on A/H Premium

GigaDevice Semiconductor (603986 CH) (GD), an IC design house, aims to raise around US$1bn in its H-share listing. In this note, we talk about the...

Sumeet Singh

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