Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>Doosan Corp has completed the final stage negotiations to acquire SK Siltron and they are expected to sign the stock purchase agreement (SPA) as early as next week. </li>
<li>The sale of SK Siltron to Doosan Corp is likely to positively impact SK Inc (owns 51%). </li>
<li>This sale could also result in SK Chairman Chey Tae-Won receiving nearly 1.5 trillion won in cash for his sale of 29.4% stake which could be used for divorce settlement. </li>
</ul>


Doosan Corp has completed the final stage negotiations to acquire SK Siltron and they are expected to sign the stock purchase agreement (SPA) as early as next week. 
The sale of SK Siltron to Doosan Corp is likely to positively impact SK Inc (owns 51%). 
This sale could also result in SK Chairman Chey Tae-Won receiving nearly 1.5 trillion won in cash for his sale of 29.4% stake which could be used for divorce settlement. 


Doosan Corp to Acquire 100% Stake in SK Siltron - Positive Impact on SK Inc

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of May 15th. The aggregated short interest was USD18.3bn.</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 LG Electronics, LS ELECTRIC, SamsungElecMech, HANWHA SYSTEMS, Hyundai Motor.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of May 15th. The aggregated short interest was USD18.3bn.
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 LG Electronics, LS ELECTRIC, SamsungElecMech, HANWHA SYSTEMS, Hyundai Motor.


KRX Short Interest Weekly (May 15th): LG Electronics, LS ELECTRIC, SamsungElecMech, HANWHA SYSTEMS

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

MSCI Emerging Markets Index / Technical Analysis

Asia is leading EM higher.  In this week's Chart Book, we highlight the following themes and actionable charts: <ul><li>Overweight Asia. In today’s report we highlight a broad array of actionable names within the Asia region ... see pages 3-6</li><li>Indian banks are breaking out. India’s state banks broke out last week in response to the government’s announcement of a $32.5 billion recapitalization plan. Actionable ideas: Punjab National Bank (532461-IN), State Bank of India (500112-IN), ICICI Bank (532174-IN)... see page 2</li><li>Leading Sectors. EM sectors exhibiting attractive relative strength trends include: consumer discretionary, energy, financials, health care, materials, and tech. This (mostly) cyclical line-up supports a risk-on outlook. When defensive sectors exhibit improving relative strength, then we’ll turn cautious on EM’s advance.</li></ul>

Asia is leading EM higher.  In this week's Chart Book, we highlight the following themes and actionable charts: Overweight Asia. In today’s report we highlight a broad array of actionable names within the Asia region ... see pages 3-6Indian banks are breaking out. India’s state banks broke out last week in response to the government’s announcement of a $32.5 billion recapitalization plan. Actionable ideas: Punjab National Bank (532461-IN), State Bank of India (500112-IN), ICICI Bank (532174-IN)... see page 2Leading Sectors. EM sectors exhibiting attractive relative strength trends include: consumer discretionary, energy, financials, health care, materials, and tech. This (mostly) cyclical line-up supports a risk-on outlook. When defensive sectors exhibit improving relative strength, then we’ll turn cautious on EM’s advance.

EM Technicals: Overweight Asia; Indian Banks Are Breaking Out; Bottom-Up Ideas

<ul>
<li>We analysed the earning revision of component stocks of MS-South Korea in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on KEPCO, SKSQUARE, SK Innovation, Samsung SDI, KAL, Samsung Electronics, SK Hynix.</li>
</ul>


We analysed the earning revision of component stocks of MS-South Korea in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on KEPCO, SKSQUARE, SK Innovation, Samsung SDI, KAL, Samsung Electronics, SK Hynix.


MS-South Korea Index Earning Revision (Apr): KEPCO, SKSQUARE, SK Innovation, Samsung SDI, KAL

Thematic (Sector/Industry)

<ul>
<li>August was a good month for our model stock portfolio, which was up 1.0% versus KOSPI which was down 1.6% during the same period. At end of July, we raised the cash portion to 30% of the portfolio, up from 20%. Starting September 2017, we raise the cash portion to 40% of the total portfolio, continuing to become more defensive in our model portfolio.  </li>
<li>Among the sector ETFs in Korea, the best performing sectors in August included Energy &amp; Chemicals (up 5.5%) and Healthcare (up 3.5%). The worst…</li>
</ul>


August was a good month for our model stock portfolio, which was up 1.0% versus KOSPI which was down 1.6% during the same period. At end of July, we raised the cash portion to 30% of the portfolio, up from 20%. Starting September 2017, we raise the cash portion to 40% of the total portfolio, continuing to become more defensive in our model portfolio.  
Among the sector ETFs in Korea, the best performing sectors in August included Energy &amp; Chemicals (up 5.5%) and Healthcare (up 3.5%). The worst…


Korea Stock Market Monthly Recap #17 - (August 2017)

South Korea

LG Corp. is a holding company, which operates subsidiaries including LG Electronics, LG Household & Health Care, LG Chem Ltd., and Dacom Corp. The Company's main business areas are electronics, chemicals, and household products manufacturing and telecommunications services.

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LG Corp (003550 KS)

Doosan Corp to Acquire 100% Stake in SK Siltron - Positive Impact on SK Inc

Doosan Corp set to acquire SK Siltron, potentially benefiting SK Inc and providing Chairman Chey Tae-Won with significant cash for divorce...

Douglas Kim

KRX Short Interest Weekly (May 15th): LG Electronics, LS ELECTRIC, SamsungElecMech, HANWHA SYSTEMS

We analyzed KRX short interest report for the past week and highlighted short interest changes in LG Electronics, LS ELECTRIC, SamsungElecMech,...

Ke Yan, CFA, FRM

EM Technicals: Overweight Asia; Indian Banks Are Breaking Out; Bottom-Up Ideas

Asia is leading EM higher. In this week's Chart Book, we highlight the following themes and actionable charts: Overweight Asia. In today’s...

Vermilion Research

MS-South Korea Index Earning Revision (Apr): KEPCO, SKSQUARE, SK Innovation, Samsung SDI, KAL

We analyzed MS-South Korea's consensus for Apr 2026 and highlighted changes of EPS in KEPCO, SKSQUARE, SK Innovation, Samsung SDI, KAL, Samsung...

Ke Yan, CFA, FRM

Korea Stock Market Monthly Recap #17 - (August 2017)

August was a good month for our model stock portfolio, which was up 1.0% versus KOSPI which was down 1.6% during the same period. At end of July,...

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Doosan Corp to Acquire 100% Stake in SK Siltron - Positive Impact on SK Inc

​Doosan Corp set to acquire SK Siltron, potentially benefiting SK Inc and providing Chairman Chey Tae-Won with significant cash for divorce...

Douglas Kim

KRX Short Interest Weekly (May 15th): LG Electronics, LS ELECTRIC, SamsungElecMech, HANWHA SYSTEMS

We analyzed KRX short interest report for the past week and highlighted short interest changes in LG Electronics, LS ELECTRIC, SamsungElecMech,...

Ke Yan, CFA, FRM

EM Technicals: Overweight Asia; Indian Banks Are Breaking Out; Bottom-Up Ideas

Asia is leading EM higher. In this week's Chart Book, we highlight the following themes and actionable charts: Overweight Asia. In today’s...

Vermilion Research

MS-South Korea Index Earning Revision (Apr): KEPCO, SKSQUARE, SK Innovation, Samsung SDI, KAL

We analyzed MS-South Korea's consensus for Apr 2026 and highlighted changes of EPS in KEPCO, SKSQUARE, SK Innovation, Samsung SDI, KAL, Samsung...

Ke Yan, CFA, FRM

Korea Stock Market Monthly Recap #17 - (August 2017)

August was a good month for our model stock portfolio, which was up 1.0% versus KOSPI which was down 1.6% during the same period. At end of July,...

Douglas Kim

Doosan Corp set to acquire SK Siltron, potentially benefiting SK Inc and providing Chairman Chey Tae-Won with significant cash for divorce...