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

Shenton Research

Shenton 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 foreign holdings of KRX stocks as of Sep 4th. The aggregated holding was USD1,642.8bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,855mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in SK Hynix, Woori Financial, Samsung Electronics, Samsung Elec (PREF), Samsung SDI.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 4th. The aggregated holding was USD1,642.8bn.
We estimate that foreign flows to be outflows of USD2,855mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, Woori Financial, Samsung Electronics, Samsung Elec (PREF), Samsung SDI.


KRX Foreign Holding Weekly (Sep 4th): SK Hynix, Woori Financial, Samsung Electronics, Samsung SDI

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Aug 28th. The aggregated short interest was USD19.4bn.</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 KEPCO E&amp;C, Silicon2, HyundaiEng&amp;Const, Hyundai Motor, Doosan Enerbility.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 28th. The aggregated short interest was USD19.4bn.
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 KEPCO E&amp;C, Silicon2, HyundaiEng&amp;Const, Hyundai Motor, Doosan Enerbility.


KRX Short Interest Weekly (Aug 28th): KEPCO E&C, Silicon2, HyundaiEng&Const, Hyundai Motor

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Aug 14th. The aggregated short interest was USD18.7bn.</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 SK Hynix, HANWHA SOLUTIONS, Samsung F&amp;M Insurance, Hanwha Ocean, Samsung Elec (PREF).</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 14th. The aggregated short interest was USD18.7bn.
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 SK Hynix, HANWHA SOLUTIONS, Samsung F&amp;M Insurance, Hanwha Ocean, Samsung Elec (PREF).


KRX Short Interest Weekly (Aug 14th): SK Hynix, HANWHA SOLUTIONS, Samsung F&M Insurance

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

<ul>
<li>There has been a sharp increase in unsold housing units in Korea. There were 68k unsold housing units in Korea at the end of 2022, up 278% YoY</li>
<li>Unsold housing units is likely to get worse in Korea in the coming months driven by higher housing units supply, stubbornly high interest rates, and increasing probability of global recession. </li>
<li>We believe there is a sound trading opportunity of shorting a basket of large construction stocks including Hyundai E&amp;C, GS E&amp;C, and Daewoo E&amp;C over the next 6-12 months.</li>
</ul>


There has been a sharp increase in unsold housing units in Korea. There were 68k unsold housing units in Korea at the end of 2022, up 278% YoY
Unsold housing units is likely to get worse in Korea in the coming months driven by higher housing units supply, stubbornly high interest rates, and increasing probability of global recession. 
We believe there is a sound trading opportunity of shorting a basket of large construction stocks including Hyundai E&amp;C, GS E&amp;C, and Daewoo E&amp;C over the next 6-12 months.


A Sharp Increase in Unsold Housing Units in Korea: A Trading Opportunity

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jul 24th. The aggregated holding was USD1,525.1bn.</li>
<li>We estimate that foreign flows to be inflows of USD3,927mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Samsung Electronics, SK Hynix, SKSQUARE, SamsungElecMech, SKTelecom.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jul 24th. The aggregated holding was USD1,525.1bn.
We estimate that foreign flows to be inflows of USD3,927mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Samsung Electronics, SK Hynix, SKSQUARE, SamsungElecMech, SKTelecom.


KRX Foreign Holding Weekly (Jul 24th): Samsung Electronics, SK Hynix, SKSQUARE, SamsungElecMech

South Korea

Doosan Enerbility Co., Ltd. manufactures and distributes construction machines. The Company produces gas turbines, engines, turbine generators, boilers, power plant equipment, and other related products. Doosan Enerbility also offers energy solutions for thermal power, nuclear power, and renewable energy.

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Doosan Enerbility (034020 KS)

KRX Foreign Holding Weekly (Sep 4th): SK Hynix, Woori Financial, Samsung Electronics, Samsung SDI

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Woori Financial, Samsung Electronics,...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Aug 28th): KEPCO E&C, Silicon2, HyundaiEng&Const, Hyundai Motor

We analyzed KRX short interest report for the past week and highlighted short interest changes in KEPCO E&C, Silicon2, HyundaiEng&Const, Hyundai...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Aug 14th): SK Hynix, HANWHA SOLUTIONS, Samsung F&M Insurance

We analyzed KRX short interest report for the past week and highlighted short interest changes in SK Hynix, HANWHA SOLUTIONS, Samsung F&M...

Ke Yan, CFA, FRM

A Sharp Increase in Unsold Housing Units in Korea: A Trading Opportunity

We believe there is a sound trading opportunity of shorting a basket of large construction stocks including Hyundai E&C, GS E&C, and Daewoo E&C...

Douglas Kim

KRX Foreign Holding Weekly (Jul 24th): Samsung Electronics, SK Hynix, SKSQUARE, SamsungElecMech

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics, SK Hynix, SKSQUARE,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)