Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7 stocks.</li>
<li>We provide seven major reasons why Koreans' investments in the US stocks (especially MAG7) have been surging in the past several years. </li>
<li>When will they sell? We provide some clues on this.</li>
</ul>


In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7 stocks.
We provide seven major reasons why Koreans' investments in the US stocks (especially MAG7) have been surging in the past several years. 
When will they sell? We provide some clues on this.


7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

Weekly podcast series by SemiWiki.com, SemiWiki.com

SemiWiki.com

Weekly podcast series by SemiWiki.com

Semiconductor Insiders: A weekly podcast series by SemiWiki.com, the open forum for semiconductor professionals.

Thematic (Sector/Industry)

<ul><li>The adoption of post-quantum cryptography (PQC) standards in the semiconductor industry has been positive but cautious, with factors such as regional differences and supply chain challenges slowing down the process.</li><li>The industry is aligning around a proposed 2035 migration timeline for PQC, with vendors in different verticals positioning themselves differently based on their planning cycles and customer demand.</li><li>Early movers in the semiconductor space are making progress in adopting PQC in their next-generation chips, setting the benchmark for the rest of the ecosystem to follow suit.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

The adoption of post-quantum cryptography (PQC) standards in the semiconductor industry has been positive but cautious, with factors such as regional differences and supply chain challenges slowing down the process.The industry is aligning around a proposed 2035 migration timeline for PQC, with vendors in different verticals positioning themselves differently based on their planning cycles and customer demand.Early movers in the semiconductor space are making progress in adopting PQC in their next-generation chips, setting the benchmark for the rest of the ecosystem to follow suit.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Podcast EP304: PQC Standards One Year On: The Semiconductor Industry’s Next Move

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/sicc-co-ltd" target="_blank" data-smartkarma-citation="entities:36273:1" rel="noopener">SICC (688234 CH)</a>, a manufacturer of high-quality SiC substrates, aims to raise up to US$250m in its H-share listing.</li>
<li>In terms of market share, as per Frost &amp; Sullivan, based on 2024 sales, its market share was at 16.7%.</li>
<li>In this note, we look at the PHIP updates and talk about the likely A/H premium.</li>
</ul>



SICC (688234 CH), a manufacturer of high-quality SiC substrates, aims to raise up to US$250m in its H-share listing.
In terms of market share, as per Frost &amp; Sullivan, based on 2024 sales, its market share was at 16.7%.
In this note, we look at the PHIP updates and talk about the likely A/H premium.


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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ntt-dc-reit" target="_blank" data-smartkarma-citation="entities:45414:1" rel="noopener">NTT DC REIT (NTTDCR SP)</a>, a data center REIT, raised around US$772m in its Singapore IPO.</li>
<li>The IPO portfolio comprises six mainly freehold data centres in the U.S., Austria and Singapore with an aggregate appraised valuation of US$1.6bn</li>
<li>We have looked at the past performance in our earlier notes. In this note, we will talk about the trading dynamics.</li>
</ul>



NTT DC REIT (NTTDCR SP), a data center REIT, raised around US$772m in its Singapore IPO.
The IPO portfolio comprises six mainly freehold data centres in the U.S., Austria and Singapore with an aggregate appraised valuation of US$1.6bn
We have looked at the past performance in our earlier notes. In this note, we will talk about the trading dynamics.


NTT DC REIT IPO Trading - Decent Demand, High Yield and Discount Should Help

Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

<ul>
<li>For <a href="https://www.smartkarma.com/entities/mediatek-inc" target="_blank" data-smartkarma-citation="entities:772:1" rel="noopener">Mediatek Inc (2454 TT)'s</a> 3Q25 outlook, its revenue is expected to decline by approximately 0–6% quarter-over-quarter, reflecting a relative low seasonal factors and order adjustments.  </li>
<li>Regarding Mediatek Inc (2454 TT)'s partnership with Alphabet (GOOGL US), the TPU v7e is expected to begin tape-out in September 2025.  </li>
<li>Based on current project developments using TSMC’s 2nm process, MediaTek is highly likely to co-develop the next-generation MTIA v4 ASIC with <a href="https://www.smartkarma.com/entities/meta-platforms-inc-class-a-facebook" target="_blank" data-smartkarma-citation="entities:665:1" rel="noopener">Meta (META US)</a>.</li>
</ul>


For Mediatek Inc (2454 TT)'s 3Q25 outlook, its revenue is expected to decline by approximately 0–6% quarter-over-quarter, reflecting a relative low seasonal factors and order adjustments.  
Regarding Mediatek Inc (2454 TT)'s partnership with Alphabet (GOOGL US), the TPU v7e is expected to begin tape-out in September 2025.  
Based on current project developments using TSMC’s 2nm process, MediaTek is highly likely to co-develop the next-generation MTIA v4 ASIC with Meta (META US).


MediaTek (2454.TT): 3Q25 Outlook Is Expected to Decline by Approximately 0–6%.

United States

Alphabet Inc. operates as a holding company. The Company, through its subsidiaries, provides web-based search, advertisements, maps, software applications, mobile operating systems, consumer content, enterprise solutions, commerce, and hardware products.

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Alphabet (GOOGL US)

7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7...

Douglas Kim

Podcast EP304: PQC Standards One Year On: The Semiconductor Industry’s Next Move

Investors joined a semiconductor business spun out of Oxford University, working with founder Ali and a consultant to navigate challenges in...

SemiWiki.com

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

SICC (688234 CH), a manufacturer of high-quality SiC substrates, aims to raise up to US$250m in its H-share listing. In this note, we talk about...

Sumeet Singh

NTT DC REIT IPO Trading - Decent Demand, High Yield and Discount Should Help

NTT DC REIT (NTTDCR SP), a data center REIT, raised around US$772m in its Singapore IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

MediaTek (2454.TT): 3Q25 Outlook Is Expected to Decline by Approximately 0–6%.

Mediatek Inc's 3Q25 revenue expected to decline, partnership with Alphabet for TPU v7e tape-out, potential co-development with Meta for next-gen...

Patrick Liao

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7...

Douglas Kim

Podcast EP304: PQC Standards One Year On: The Semiconductor Industry’s Next Move

Investors joined a semiconductor business spun out of Oxford University, working with founder Ali and a consultant to navigate challenges in...

SemiWiki.com

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

SICC (688234 CH), a manufacturer of high-quality SiC substrates, aims to raise up to US$250m in its H-share listing. In this note, we talk about...

Sumeet Singh

NTT DC REIT IPO Trading - Decent Demand, High Yield and Discount Should Help

NTT DC REIT (NTTDCR SP), a data center REIT, raised around US$772m in its Singapore IPO. In this note, we talk about the trading dynamics.

Sumeet Singh

MediaTek (2454.TT): 3Q25 Outlook Is Expected to Decline by Approximately 0–6%.

​Mediatek Inc's 3Q25 revenue expected to decline, partnership with Alphabet for TPU v7e tape-out, potential co-development with Meta for next-gen...

Patrick Liao

Mediatek Inc's 3Q25 revenue expected to decline, partnership with Alphabet for TPU v7e tape-out, potential co-development with Meta for next-gen...