Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>Korea Exchange plans to announce the first rebalance of the "Korea Value Up Index" next week on 27 May. The actual rebalance is expected to take place on 13 June.</li>
<li>Korea Exchange plans to reduce the constituents to 100 (from 105 currently) and change 30% of the included stocks in this index to better reflect the Value Up program incentives. </li>
<li>In this insight, we provide a list of 20 potential exclusion candidates and 20 inclusion candidates in the Value Up index rebalance. </li>
</ul>


Korea Exchange plans to announce the first rebalance of the "Korea Value Up Index" next week on 27 May. The actual rebalance is expected to take place on 13 June.
Korea Exchange plans to reduce the constituents to 100 (from 105 currently) and change 30% of the included stocks in this index to better reflect the Value Up program incentives. 
In this insight, we provide a list of 20 potential exclusion candidates and 20 inclusion candidates in the Value Up index rebalance. 


Korea Value Up Index Rebalance Announcement Next Week

Event-Driven

<ul>
<li>Dentium announced that it has decided to cancel all of its 2.44 million treasury shares (22% of its outstanding shares).</li>
<li>This is massive and should have a positive impact on Dentium's share price.</li>
<li>Although the company reported a disappointing results in 2Q 2025 and its exports to China are slowing down, the company still generates healthy operating margins (18.9% in 2Q 2025).</li>
</ul>


Dentium announced that it has decided to cancel all of its 2.44 million treasury shares (22% of its outstanding shares).
This is massive and should have a positive impact on Dentium's share price.
Although the company reported a disappointing results in 2Q 2025 and its exports to China are slowing down, the company still generates healthy operating margins (18.9% in 2Q 2025).


Dentium - Cancellation of 2.44 Million Treasury Shares (22% of Outstanding Shares)

<ul>
<li>Korea Exchange announced KOSPI 200 rebalance additions and deletions today. There were 14 new additions and deletions (7 each).</li>
<li>Some surprises in KOSPI 200 rebalance included addition of Seah Besteel and deletion of HDC Hyundai Development. </li>
<li>There were a lot more additions and deletions in KOSDAQ 150 (34 total additions and deletions). Among the KOSDAQ 150 additions included Neowiz, JNTC, Lunit, and Jeio.</li>
</ul>


Korea Exchange announced KOSPI 200 rebalance additions and deletions today. There were 14 new additions and deletions (7 each).
Some surprises in KOSPI 200 rebalance included addition of Seah Besteel and deletion of HDC Hyundai Development. 
There were a lot more additions and deletions in KOSDAQ 150 (34 total additions and deletions). Among the KOSDAQ 150 additions included Neowiz, JNTC, Lunit, and Jeio.


KOSPI 200 and KOSDAQ 150 Rebalance Additions and Deletions Announced (December 2023)

Index Rebalance

<ul>
<li>Korea Value-Up Index outperformed KOSPI, KOSPI200, and KOSDAQ in the past year, resulting in further interest in the index. </li>
<li>The announcement of the Korea Value-Up Index rebalance for this year to be announced in the last week of May and the rebalance date is expected around mid-June 2026.</li>
<li>In this insight, we provided a list of top 10 potential inclusions and top 10 exclusions in the Korea Value Up index rebalance in June 2026. </li>
</ul>


Korea Value-Up Index outperformed KOSPI, KOSPI200, and KOSDAQ in the past year, resulting in further interest in the index. 
The announcement of the Korea Value-Up Index rebalance for this year to be announced in the last week of May and the rebalance date is expected around mid-June 2026.
In this insight, we provided a list of top 10 potential inclusions and top 10 exclusions in the Korea Value Up index rebalance in June 2026. 


Korea Value-Up Index: Rebalancing in 2026 and Outperformance Vs KOSPI

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>The review period for the March rebalance of the KOSPI Size Indices commenced on 1 December and will end on 28 February. We're gone through 80% of the trading days.</li>
<li>We currently forecast 42 stocks migrating between the size segments. Among new listings, 1 stock could be added to LargeCap, 3 to MidCap, 1 to SmallCap.</li>
<li>The upward migrations have outperformed the downward migrations by a lot over the last few months. The recent market volatility has led to a narrowing of that gap.</li>
</ul>


The review period for the March rebalance of the KOSPI Size Indices commenced on 1 December and will end on 28 February. We're gone through 80% of the trading days.
We currently forecast 42 stocks migrating between the size segments. Among new listings, 1 stock could be added to LargeCap, 3 to MidCap, 1 to SmallCap.
The upward migrations have outperformed the downward migrations by a lot over the last few months. The recent market volatility has led to a narrowing of that gap.


KOSPI Size Indices: Market Volatility Narrows Spread (A Bit)

South Korea

Dentium Co., Ltd. manufactures dental instruments and materials.  The Company's products include dental implant kits and lab tool kits.

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Dentium (145720 KS)

Korea Value Up Index Rebalance Announcement Next Week

Korea Exchange plans to announce the first rebalance of the "Korea Value Up Index" next week on 27 May. The actual rebalance is expected to take...

Douglas Kim

Dentium - Cancellation of 2.44 Million Treasury Shares (22% of Outstanding Shares)

Dentium announced that it has decided to cancel all of its 2.44 million treasury shares (22% of its outstanding shares). This is massive and should...

Douglas Kim

KOSPI 200 and KOSDAQ 150 Rebalance Additions and Deletions Announced (December 2023)

Korea Exchange announced KOSPI 200 rebalance additions and deletions today. There were 14 new additions and deletions (7 each). There were a lot...

Douglas Kim

Korea Value-Up Index: Rebalancing in 2026 and Outperformance Vs KOSPI

Korea Value-Up Index outperformed KOSPI, KOSPI200, and KOSDAQ in the past year, resulting in further interest in the index.

Douglas Kim

KOSPI Size Indices: Market Volatility Narrows Spread (A Bit)

There could be 42 migrations across categories in March, plus new listings being added. The recent market volatility has narrowed the...

Brian Freitas

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