Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<div><p>The Korea Exchange (KRX) will announce the results of the December 2021 review of the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index (KOSDQ150 INDEX)</a> in November. The constituent changes will be effective after the close of trading on 9 December.</p></div><div>
<p>With the review period complete, we see 15 potential inclusions and exclusions for the index at the December rebalance.</p>
<p>The potential inclusions are <a href="https://www.smartkarma.com/entities/bioneer-corp" target="_blank" data-smartkarma-citation="entities:11487:1" rel="noopener">Bioneer Corp (064550 KS)</a>, <a href="https://www.smartkarma.com/entities/bnc-korea-co-ltd" target="_blank" data-smartkarma-citation="entities:34785:1" rel="noopener">BNC Korea (256840 KS)</a>, <a href="https://www.smartkarma.com/entities/cellid-co-ltd" target="_blank" data-smartkarma-citation="entities:34892:1" rel="noopener">Cellid (299660 KS)</a>, <a href="https://www.smartkarma.com/entities/nanos-co-ltd" target="_blank" data-smartkarma-citation="entities:16796:1" rel="noopener">Nanos Co Ltd (151910 KS)</a>, <a href="https://www.smartkarma.com/entities/aptabio-therapeutics-inc" target="_blank" data-smartkarma-citation="entities:34894:1" rel="noopener">AptaBio Therapeutics (293780 KS)</a>, <a href="https://www.smartkarma.com/entities/access-bio-inc-kdr" target="_blank" data-smartkarma-citation="entities:5729:1" rel="noopener">Access Bio Inc (950130 KS)</a>, <a href="https://www.smartkarma.com/entities/wonik-qnc-corp" target="_blank" data-smartkarma-citation="entities:6828:1" rel="noopener">Wonik QnC Corp (074600 KS)</a>, <a href="https://www.smartkarma.com/entities/komico-ltd" target="_blank" data-smartkarma-citation="entities:24033:1" rel="noopener">KoMiCo Ltd. (183300 KS)</a>, <a href="https://www.smartkarma.com/entities/tk-chemical-corp" target="_blank" data-smartkarma-citation="entities:13428:1" rel="noopener">TK Chemical (104480 KS)</a>, <a href="https://www.smartkarma.com/entities/kona-i-co-ltd" target="_blank" data-smartkarma-citation="entities:19695:1" rel="noopener">Kona I Co Ltd (052400 KS)</a>, <a href="https://www.smartkarma.com/entities/coocon-corp" target="_blank" data-smartkarma-citation="entities:32234:1" rel="noopener">Coocon Corp (294570 KS)</a>, <a href="https://www.smartkarma.com/entities/interpark-holdings-corp" target="_blank" data-smartkarma-citation="entities:12073:1" rel="noopener">Interpark Holdings (035080 KS)</a>, <a href="https://www.smartkarma.com/entities/dk-d-i-co-ltd" target="_blank" data-smartkarma-citation="entities:9948:1" rel="noopener">Dk D&amp;I Co Ltd (033310 KS)</a>, <a href="https://www.smartkarma.com/entities/saraminhr-co-ltd" target="_blank" data-smartkarma-citation="entities:8494:1" rel="noopener">SaraminHR (143240 KS)</a> and <a href="https://www.smartkarma.com/entities/intellian-technologies-inc" target="_blank" data-smartkarma-citation="entities:34895:1" rel="noopener">Intellian Technologies (189300 KS)</a>.</p>
<p>The potential deletions are <a href="https://www.smartkarma.com/entities/lemon-co-ltd" target="_blank" data-smartkarma-citation="entities:28841:1" rel="noopener">Lemon Co Ltd (294140 KQ)</a>, <a href="https://www.smartkarma.com/entities/g-treebnt-co-ltd" target="_blank" data-smartkarma-citation="entities:1933:1" rel="noopener">G Treebnt (115450 KS)</a>, <a href="https://www.smartkarma.com/entities/spigen-korea-co-ltd" target="_blank" data-smartkarma-citation="entities:9852:1" rel="noopener">Spigen Korea (192440 KS)</a>, <a href="https://www.smartkarma.com/entities/wisol-co-ltd" target="_blank" data-smartkarma-citation="entities:14463:1" rel="noopener">Wisol Co Ltd (122990 KS)</a>, <a href="https://www.smartkarma.com/entities/dongkuk-structures-constru" target="_blank" data-smartkarma-citation="entities:20412:1" rel="noopener">Dongkuk Structures &amp; Constru (100130 KS)</a>, <a href="https://www.smartkarma.com/entities/ubiquoss-inc" target="_blank" data-smartkarma-citation="entities:14341:1" rel="noopener">Ubiquoss Holding (078070 KS)</a>, <a href="https://www.smartkarma.com/entities/icure-pharm-inc" target="_blank" data-smartkarma-citation="entities:27142:1" rel="noopener">Icure Pharm Inc (175250 KS)</a>, <a href="https://www.smartkarma.com/entities/winix-inc" target="_blank" data-smartkarma-citation="entities:19972:1" rel="noopener">Winix Inc (044340 KS)</a>, <a href="https://www.smartkarma.com/entities/telcon-inc" target="_blank" data-smartkarma-citation="entities:15231:1" rel="noopener">Telcon Inc (200230 KS)</a>, <a href="https://www.smartkarma.com/entities/danawa-co-ltd" target="_blank" data-smartkarma-citation="entities:7191:1" rel="noopener">Danawa Co Ltd (119860 KS)</a>, <a href="https://www.smartkarma.com/entities/advanced-process-systems-corporation" target="_blank" data-smartkarma-citation="entities:24087:1" rel="noopener">Advanced Process Systems (265520 KS)</a>, <a href="https://www.smartkarma.com/entities/toptec-co-ltd" target="_blank" data-smartkarma-citation="entities:7332:1" rel="noopener">Toptec Co Ltd (108230 KS)</a>, <a href="https://www.smartkarma.com/entities/optoelectronics-solutions-co" target="_blank" data-smartkarma-citation="entities:2098:1" rel="noopener">Optoelectronics Solutions Co (138080 KS)</a>, <a href="https://www.smartkarma.com/entities/daea-ti-co-ltd" target="_blank" data-smartkarma-citation="entities:1473:1" rel="noopener">Daea Ti Co Ltd (045390 KS)</a> and <a href="https://www.smartkarma.com/entities/unison-co-ltd-south-korea" target="_blank" data-smartkarma-citation="entities:18617:1" rel="noopener">Unison Co Ltd (018000 KS)</a>.</p>
<p><a href="https://www.smartkarma.com/entities/huons-co-ltd" target="_blank" data-smartkarma-citation="entities:16275:1" rel="noopener">Huons Co Ltd (084110 KS)</a> is a very close add and the corresponding deletion is <a href="https://www.smartkarma.com/entities/koentec-co-ltd" target="_blank" data-smartkarma-citation="entities:4049:1" rel="noopener">Koentec Co Ltd (029960 KS)</a>.</p>
<p>One-way turnover is estimated at 6.95% and the impact on the expected deletions is a lot higher than the impact on the expected inclusions.</p>
<p>The potential inclusions outperformed the potential deletions in August before returns flatlined in September and then dropped in October. There could be outperformance from now to the announcement of the changes.</p>
</div>

The Korea Exchange (KRX) will announce the results of the December 2021 review of the KOSDAQ 150 Index (KOSDQ150 INDEX) in November. The constituent changes will be effective after the close of trading on 9 December.
With the review period complete, we see 15 potential inclusions and exclusions for the index at the December rebalance.
The potential inclusions are Bioneer Corp (064550 KS), BNC Korea (256840 KS), Cellid (299660 KS), Nanos Co Ltd (151910 KS), AptaBio Therapeutics (293780 KS), Access Bio Inc (950130 KS), Wonik QnC Corp (074600 KS), KoMiCo Ltd. (183300 KS), TK Chemical (104480 KS), Kona I Co Ltd (052400 KS), Coocon Corp (294570 KS), Interpark Holdings (035080 KS), Dk D&amp;I Co Ltd (033310 KS), SaraminHR (143240 KS) and Intellian Technologies (189300 KS).
The potential deletions are Lemon Co Ltd (294140 KQ), G Treebnt (115450 KS), Spigen Korea (192440 KS), Wisol Co Ltd (122990 KS), Dongkuk Structures &amp; Constru (100130 KS), Ubiquoss Holding (078070 KS), Icure Pharm Inc (175250 KS), Winix Inc (044340 KS), Telcon Inc (200230 KS), Danawa Co Ltd (119860 KS), Advanced Process Systems (265520 KS), Toptec Co Ltd (108230 KS), Optoelectronics Solutions Co (138080 KS), Daea Ti Co Ltd (045390 KS) and Unison Co Ltd (018000 KS).
Huons Co Ltd (084110 KS) is a very close add and the corresponding deletion is Koentec Co Ltd (029960 KS).
One-way turnover is estimated at 6.95% and the impact on the expected deletions is a lot higher than the impact on the expected inclusions.
The potential inclusions outperformed the potential deletions in August before returns flatlined in September and then dropped in October. There could be outperformance from now to the announcement of the changes.


KOSDAQ150 Index Rebalance Preview: 15 Potential Changes and Large Turnover

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<p>During July–September <a href="https://www.smartkarma.com/entities/bnc-korea-co-ltd" target="_blank" data-smartkarma-citation="entities:34785:1" rel="noopener">BNC Korea (256840 KS) </a>shares jumped more than 8x to a touch a peak of approximately KRW 70,000 on a published media report that states its partner in Taiwan received emergency approval for a COVID-19 oral drug. With competitor Merck (MRK) reporting positive clinical trial results and seeking emergency use approval for its oral antiviral medicine for COVID-19, BNC Korea shares have been declining and corrected nearly 60% from its peak.</p>

During July–September BNC Korea (256840 KS) shares jumped more than 8x to a touch a peak of approximately KRW 70,000 on a published media report that states its partner in Taiwan received emergency approval for a COVID-19 oral drug. With competitor Merck (MRK) reporting positive clinical trial results and seeking emergency use approval for its oral antiviral medicine for COVID-19, BNC Korea shares have been declining and corrected nearly 60% from its peak.

BNC Korea (256840 KS): Oral COVID-19 Treatment No More Remains a Catalyst

South Korea

BNC Korea Co, Ltd operates as a biological development company. The Company develops, manufactures and sells hyaluronic acid filler and other products. BNC Korea markets its products throughout Korea.

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BNC Korea (256840 KS)

KOSDAQ150 Index Rebalance Preview: 15 Potential Changes and Large Turnover

At the end of the review period, we see 15 potential changes for the KOSDAQ150 index. Most of the changes are high probability. The adds could...

Brian Freitas

BNC Korea (256840 KS): Oral COVID-19 Treatment No More Remains a Catalyst

In-licensed oral COVID-19 treatment no longer remains a catalyst after competitor's encouraging clinical trial results. Other oral treatments are...

Tina Banerjee

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