Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
  <li>
<a href="https://smartkarma.com/entities/gigavis-co-ltd">GigaVis</a> is a key player in the semiconductor inspection and repair equipment market, specializing in Automated Optical Inspection (AOI) and Automated Optical Repair (AOR) for high-performance IC substrates.</li>
  <li>The company is poised to benefit from strong secular tailwinds in the semiconductor industry, including the increasing complexity of chip packaging, miniaturization, and the growth of AI, 5G, and automotive electronics.</li>
  <li>While the company demonstrates strong technological capabilities and a solid market position, its financial performance is subject to the cyclicality of the semiconductor industry and high customer concentration, which represent key risks for investors.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
GigaVis is a key player in the semiconductor inspection and repair equipment market, specializing in Automated Optical Inspection (AOI) and Automated Optical Repair (AOR) for high-performance IC substrates.
  The company is poised to benefit from strong secular tailwinds in the semiconductor industry, including the increasing complexity of chip packaging, miniaturization, and the growth of AI, 5G, and automotive electronics.
  While the company demonstrates strong technological capabilities and a solid market position, its financial performance is subject to the cyclicality of the semiconductor industry and high customer concentration, which represent key risks for investors.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>In this analysis, we provide a back testing analysis of the end of mandatory lock-up periods monthly data in Korea in the past six months.</li>
<li>All in all, this end of mandatory lock-up period monthly data continues to provide some alpha generating results.</li>
<li>In the past six months, they have tended to work better in periods when KOSPI declines rather than in periods when KOSPI rises. </li>
</ul>


In this analysis, we provide a back testing analysis of the end of mandatory lock-up periods monthly data in Korea in the past six months.
All in all, this end of mandatory lock-up period monthly data continues to provide some alpha generating results.
In the past six months, they have tended to work better in periods when KOSPI declines rather than in periods when KOSPI rises. 


Back Testing the End of Mandatory Lock-Up Periods Monthly Data in Korea

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>There will be 16 changes for 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> at the next rebalance to be implemented at the close on 11 December.</li>
<li>Making use of their discretionary powers, the index committee has not added <a href="https://www.smartkarma.com/entities/wonik-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:6485:1" rel="noopener">Wonik Holdings Co., Ltd (030530 KS)</a>, <a href="https://www.smartkarma.com/entities/samhyun-co-ltd" target="_blank" data-smartkarma-citation="entities:40872:1" rel="noopener">Samhyun (437730 KS)</a> and <a href="https://www.smartkarma.com/entities/fadu-inc" target="_blank" data-smartkarma-citation="entities:39896:1" rel="noopener">Fadu (440110 KS)</a> to the index.</li>
<li>The adds have outperformed the deletes and the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index</a> over the last 6 months and there has been a short-term move higher too. Watch out for short covering.</li>
</ul>


There will be 16 changes for the KOSDAQ 150 Index (KOSDQ150 INDEX) at the next rebalance to be implemented at the close on 11 December.
Making use of their discretionary powers, the index committee has not added Wonik Holdings Co., Ltd (030530 KS), Samhyun (437730 KS) and Fadu (440110 KS) to the index.
The adds have outperformed the deletes and the KOSDAQ 150 Index over the last 6 months and there has been a short-term move higher too. Watch out for short covering.


KOSDAQ150 Index Rebalance: 16 Changes a Side; Fadu a Casualty Yet Again

<ul>
<li>With the review period for the December rebalance complete, we highlight 17 potential changes for 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>. </li>
<li>The estimated impact on the potential inclusions ranges from 0.1-3.2 days of ADV while the impact on the potential deletions varies from 0.7-11.2 days of ADV.</li>
<li>The forecast adds have outperformed the forecast deletes over the last 6 months with a big move higher in the last couple of months. Trim positions into strength.</li>
</ul>


With the review period for the December rebalance complete, we highlight 17 potential changes for the KOSDAQ 150 Index (KOSDQ150 INDEX). 
The estimated impact on the potential inclusions ranges from 0.1-3.2 days of ADV while the impact on the potential deletions varies from 0.7-11.2 days of ADV.
The forecast adds have outperformed the forecast deletes over the last 6 months with a big move higher in the last couple of months. Trim positions into strength.


KOSDAQ150 Index Rebalance Preview: Large Number of Changes Likely in December; Huge Outperformance

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

DZT Research

DZT 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 short interest of KRX stocks as of Jun 6th. The aggregated short interest was USD0.8bn.</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 Lg Energy Solution, Celltrion, Ecoprobm Co.Ltd, Hanmi Semicon, Hlb.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jun 6th. The aggregated short interest was USD0.8bn.
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 Lg Energy Solution, Celltrion, Ecoprobm Co.Ltd, Hanmi Semicon, Hlb.


KRX Short Interest Weekly (Jun 6th): Lg Energy Solution, Celltrion, Ecoprobm, Hanmi Semicon

South Korea

GigaVis Co., Ltd. manufactures and distributes industrial machinery and electronic parts. The Company produces semiconductor automated optical inspection and repair equipment, giga vision inspection and factory automation machines, and other related products. GigaVis markets its products worldwide.

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GigaVis (420770 KS)

Primer: GigaVis (420770 KS) - Aug 2026

GigaVis is a key player in the semiconductor inspection and repair equipment market, specializing in Automated Optical Inspection (AOI) and...

αSK Primers

Back Testing the End of Mandatory Lock-Up Periods Monthly Data in Korea

In this analysis, we provide a back testing analysis of the end of mandatory lock-up periods monthly data in Korea in the past six months....

Douglas Kim

KOSDAQ150 Index Rebalance: 16 Changes a Side; Fadu a Casualty Yet Again

There are 16 changes a side for the KOSDAQ150 in Dec. The index committee has decided not to add Fadu for yet another review. Short interest is...

Brian Freitas

KOSDAQ150 Index Rebalance Preview: Large Number of Changes Likely in December; Huge Outperformance

There could be 17 changes for the KOSDAQ150 Index in Dec. Use of discretion could lead to fewer changes. The forecast adds have hugely outperformed...

Brian Freitas

KRX Short Interest Weekly (Jun 6th): Lg Energy Solution, Celltrion, Ecoprobm, Hanmi Semicon

We analyzed KRX short interest report for the past week and highlighted short interest changes in Lg Energy Solution, Celltrion, Ecoprobm Co.Ltd,...

Ke Yan, CFA, FRM

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52-week Range

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