Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

It was reported today that John Lee, the CEO of Meritz Asset Management, will create a new Korea Corporate Governance Fund, partnering with Sustinvest. John Lee previously ran the Lazard Korea Corporate Governance Fund, which shut down in 2012. This new "engagement fund" will essentially be the Korea Corporate Governance Fund II. In running the Lazard Korea Corporate Governance Fund, John Lee previously partnered with Jang Ha-Sung, the current Chief of Staff for Policy in Korea. The timing is…

It was reported today that John Lee, the CEO of Meritz Asset Management, will create a new Korea Corporate Governance Fund, partnering with Sustinvest. John Lee previously ran the Lazard Korea Corporate Governance Fund, which shut down in 2012. This new "engagement fund" will essentially be the Korea Corporate Governance Fund II. In running the Lazard Korea Corporate Governance Fund, John Lee previously partnered with Jang Ha-Sung, the current Chief of Staff for Policy in Korea. The timing is…

John Lee (CEO of Meritz Asset Mgmt) Creates a New Korea Corporate Governance Fund

<ul>
<li>Among the sector ETFs in Korea, the best performing sectors in June included securities (up 11.2%), semiconductor (up 9.6%), and banks (up 9.3%). The worst performing sectors in June included consumer (down 6.7%) and construction (down 3.9%).</li>
<li>KOSPI was up 17.5% in 1H17, one of the best performing stock indices globally. The leading performance sectors in 1H17 included securities (up 44.9%), transportation (up 32.6%), and IT (up 34.4%). All the 16 sector ETFs were up in 1H17. The worst performing…</li>
</ul>


Among the sector ETFs in Korea, the best performing sectors in June included securities (up 11.2%), semiconductor (up 9.6%), and banks (up 9.3%). The worst performing sectors in June included consumer (down 6.7%) and construction (down 3.9%).
KOSPI was up 17.5% in 1H17, one of the best performing stock indices globally. The leading performance sectors in 1H17 included securities (up 44.9%), transportation (up 32.6%), and IT (up 34.4%). All the 16 sector ETFs were up in 1H17. The worst performing…


Korea Stock Market Monthly Recap #15 - (June 2017)

<ul>
<li>May was an excellent month for our model porfolio which rose 8.9% versus KOSPI which increased 6.4% during this period. With Moon Jae-In becoming the new President of South Korea, the Korean stock market showed strong outperformance with many investors believing that there could be improved political and economic environments in the new administration.</li>
<li>
PICK OF THE MONTH (JUNE) - Last month (May), the pick of the month was Hyundai Robotics which did quite well. This month (June), the PICK OF THE…</li>
</ul>


May was an excellent month for our model porfolio which rose 8.9% versus KOSPI which increased 6.4% during this period. With Moon Jae-In becoming the new President of South Korea, the Korean stock market showed strong outperformance with many investors believing that there could be improved political and economic environments in the new administration.

PICK OF THE MONTH (JUNE) - Last month (May), the pick of the month was Hyundai Robotics which did quite well. This month (June), the PICK OF THE…


Korea Stock Market Monthly Recap #14 - (May 2017)

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

Index Rebalance

<ul>
<li>The review period for the September rebalance of the KOSPI Size Indices commenced on 1 June and will end on 31 August.</li>
<li>Nearing the end of the review period, we forecast 49 migrating stocks. Among new listings, 1 stock could be added to LargeCap, 3 to MidCap and 1 to SmallCap.</li>
<li>There are a number of stocks that will have passive flow from global index trackers over the next few weeks, while some are potential changes to the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">KOSPI2</a> in December.</li>
</ul>


The review period for the September rebalance of the KOSPI Size Indices commenced on 1 June and will end on 31 August.
Nearing the end of the review period, we forecast 49 migrating stocks. Among new listings, 1 stock could be added to LargeCap, 3 to MidCap and 1 to SmallCap.
There are a number of stocks that will have passive flow from global index trackers over the next few weeks, while some are potential changes to the KOSPI2 in December.


KOSPI Size Indices: Passive Flows for Many Active Changes

<ul>
<li>The review period for the September rebalance of the KOSPI Size Indices commenced on 1 June and will end on 31 August.</li>
<li>Nearing halfway in the review period, we forecast 53 migrating stocks. Among new listings, 1 stock could be added to LargeCap, 3 to MidCap and 1 to SmallCap.</li>
<li>Two potential downward migrations could be deleted from a global index in August. The new listing that is a potential LargeCap add could be added to a globalindex in September.</li>
</ul>


The review period for the September rebalance of the KOSPI Size Indices commenced on 1 June and will end on 31 August.
Nearing halfway in the review period, we forecast 53 migrating stocks. Among new listings, 1 stock could be added to LargeCap, 3 to MidCap and 1 to SmallCap.
Two potential downward migrations could be deleted from a global index in August. The new listing that is a potential LargeCap add could be added to a globalindex in September.


KOSPI Size Indices: Overlaps Between Active & Passive Flows

South Korea

E1 Corp. imports and sells liquefied petroleum gas (LPG). The Company supplies its gas to the domestic market.

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E1 Corp (017940 KS)

John Lee (CEO of Meritz Asset Mgmt) Creates a New Korea Corporate Governance Fund

It was reported today that John Lee, the CEO of Meritz Asset Management, will create a new Korea Corporate Governance Fund, partnering with...

Douglas Kim

Korea Stock Market Monthly Recap #15 - (June 2017)

Among the sector ETFs in Korea, the best performing sectors in June included securities (up 11.2%), semiconductor (up 9.6%), and banks (up 9.3%)....

Douglas Kim

Korea Stock Market Monthly Recap #14 - (May 2017)

May was an excellent month for our model porfolio which rose 8.9% versus KOSPI which increased 6.4% during this period. With Moon Jae-In becoming...

Douglas Kim

KOSPI Size Indices: Passive Flows for Many Active Changes

There could be 49 migrations for the KOSPI Size Indices in Sep. Among new listings, there could be 1 LargeCap add and 3 MidCap adds. There are...

Brian Freitas

KOSPI Size Indices: Overlaps Between Active & Passive Flows

There could be 53 migrations for the KOSPI Size Indices in Sep. Among new listings, there could be 1 LargeCap add and 3 MidCap adds. There are 2...

Brian Freitas

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52-week Range

Market Cap (USDm)

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