Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>FnGuide Inc (064850 KS) sales and profits soared in 2Q 2026. </li>
<li>It had sales of 14.9 billion won (up 96.3% YoY and 5.8% higher than consensus) and operating profit of 7.9 billion won (up 281.6% YoY and 13.9% higher than consensus).</li>
<li>As initial trading surges for single-stock 2x leveraged ETFs stabilize, dropping demand may soon rejuvenate investor interest in diversified ETF products linked to FnGuide's equity indices. </li>
</ul>


FnGuide Inc (064850 KS) sales and profits soared in 2Q 2026. 
It had sales of 14.9 billion won (up 96.3% YoY and 5.8% higher than consensus) and operating profit of 7.9 billion won (up 281.6% YoY and 13.9% higher than consensus).
As initial trading surges for single-stock 2x leveraged ETFs stabilize, dropping demand may soon rejuvenate investor interest in diversified ETF products linked to FnGuide's equity indices. 


FnGuide: Soaring Growth in Sales and Profits in 2Q 2026

Index Rebalance

<ul>
<li>FnGuide announced that Mirae Asset TIGER Semiconductor TOP 10 ETF, which operates based on its FnGuide's own index, surpassed 3 trillion won in net assets.</li>
<li>In this insight, we discuss the impact of this change on FnGuide Semiconductor Top10 Index Rebalance in April 2026. </li>
<li>ISC Co Ltd (095340 KS) is a potential inclusion candidate (borderline) in the FnGuide Semiconductor Top10 Index Rebalance in April 2026.</li>
</ul>


FnGuide announced that Mirae Asset TIGER Semiconductor TOP 10 ETF, which operates based on its FnGuide's own index, surpassed 3 trillion won in net assets.
In this insight, we discuss the impact of this change on FnGuide Semiconductor Top10 Index Rebalance in April 2026. 
ISC Co Ltd (095340 KS) is a potential inclusion candidate (borderline) in the FnGuide Semiconductor Top10 Index Rebalance in April 2026.


TIGER Semiconductor TOP 10 ETF > 3 Trillion Won in AUM: Impact on FnGuide Index's Next Rebalance

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>KRX provides broad official market data, but no consensus estimates. FnGuide aggregates broker reports, standardizes them, and delivers actionable consensus numbers for practical trading use.</li>
<li>FnGuide’s consensus data is solid and well-structured for screening, though coverage is limited to ~300–400 stocks, which still aligns with the practical trading universe.</li>
<li>FnGuide’s paid services require Korean residency or a corporate workaround, making access tough for overseas traders; realistically, we can rely on their free sites for financials, consensus, and basic screening.</li>
</ul>


KRX provides broad official market data, but no consensus estimates. FnGuide aggregates broker reports, standardizes them, and delivers actionable consensus numbers for practical trading use.
FnGuide’s consensus data is solid and well-structured for screening, though coverage is limited to ~300–400 stocks, which still aligns with the practical trading universe.
FnGuide’s paid services require Korean residency or a corporate workaround, making access tough for overseas traders; realistically, we can rely on their free sites for financials, consensus, and basic screening.


Tips for Using FnGuide to Run Top-Down Screens in Korea’s Policy-Driven Market

<ul>
<li>Korea’s ETF market just hit KRW 200T AUM — doubling in under 2 years. ETFs now make up ~10% of KOSPI’s cap and over half its daily trading volume.</li>
<li>FnGuide dominates Korea’s sector theme ETF space, capturing ~KRW 9T of the KRW 14T market — far ahead of KRX — with momentum accelerating in early 2025.</li>
<li>FnGuide’s rebalancing process is drawing more trader interest lately, with rising inquiries suggesting faster market learning — prompting earlier pre-positioning in sector ETF flow trades.</li>
</ul>


Korea’s ETF market just hit KRW 200T AUM — doubling in under 2 years. ETFs now make up ~10% of KOSPI’s cap and over half its daily trading volume.
FnGuide dominates Korea’s sector theme ETF space, capturing ~KRW 9T of the KRW 14T market — far ahead of KRX — with momentum accelerating in early 2025.
FnGuide’s rebalancing process is drawing more trader interest lately, with rising inquiries suggesting faster market learning — prompting earlier pre-positioning in sector ETF flow trades.


FnGuide Sector ETF Boom: Sniffing Out Uncrowded Flow Trades

<ul>
<li>The index focuses on qualitative factors like capital efficiency and shareholder returns, but efforts to impose sector balance may have overextended its market benchmark role.</li>
<li>Some companies not fitting the 'value-up' narrative got included, while market favorites were sidelined by sector rankings, which is puzzling given the index's original goal.</li>
<li>Still, with rebalancing cut down to once a year, we should expect the flow impact on the index names to hit harder than initially thought compared to their sector peers.</li>
</ul>


The index focuses on qualitative factors like capital efficiency and shareholder returns, but efforts to impose sector balance may have overextended its market benchmark role.
Some companies not fitting the 'value-up' narrative got included, while market favorites were sidelined by sector rankings, which is puzzling given the index's original goal.
Still, with rebalancing cut down to once a year, we should expect the flow impact on the index names to hit harder than initially thought compared to their sector peers.


All the Scoop on the Korea Value-Up Index

South Korea

FnGuide Inc., offers financial market data and solution for user.  The Company provides fixed income, equity, index, economic, and customized financial. Fnguide offers financial solution such as valuation model, risk management system, and asset management system for financial companies.  FnGuide also publishes quarterly company analysis for listed companies in Korea.

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FnGuide Inc (064850 KS)

FnGuide: Soaring Growth in Sales and Profits in 2Q 2026

As initial trading surges for single-stock 2x leveraged ETFs stabilize, dropping demand may soon rejuvenate investor interest in diversified ETF...

Douglas Kim

TIGER Semiconductor TOP 10 ETF > 3 Trillion Won in AUM: Impact on FnGuide Index's Next Rebalance

ISC Co Ltd (095340 KS) is a potential inclusion candidate (borderline) in the FnGuide Semiconductor Top10 Index Rebalance in April 2026.

Douglas Kim

Tips for Using FnGuide to Run Top-Down Screens in Korea’s Policy-Driven Market

This post dives into FnGuide’s data platform, highlighting how overseas traders like us can use it for top-down screening as Korea’s market is set...

Sanghyun Park

FnGuide Sector ETF Boom: Sniffing Out Uncrowded Flow Trades

This post looks at the sharp pickup in FnGuide-linked sector ETFs through the lens of uncrowded flow trades — where early movers may be sneaking in...

Sanghyun Park

All the Scoop on the Korea Value-Up Index

This post breaks down everything we need to know about the Korea Value-up Index that KRX just unveiled today, especially focusing on those...

Sanghyun Park

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