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 Jan 5th which has an aggregated short interest worth USD9.6bn.</li>
<li>We tabulate league table 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, Samsung Electron, Naver, Kia.</li>
</ul>


We analyzed the changes in short interest of KRX Stocks as of Jan 5th which has an aggregated short interest worth USD9.6bn.
We tabulate league table 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, Samsung Electron, Naver, Kia.


KRX Short Interest Weekly (Jan 5th): Sk Hynix, Samsung Electron, Naver, Kia

<ul>
<li>We analyzed the changes in short interest of KRX Stocks as of Dec 22nd which has an aggregated short interest worth USD9.9bn.</li>
<li>We tabulate league table 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 Hanwha Solutions, Samsung Electron, Hyundai Motor.</li>
</ul>


We analyzed the changes in short interest of KRX Stocks as of Dec 22nd which has an aggregated short interest worth USD9.9bn.
We tabulate league table 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 Hanwha Solutions, Samsung Electron, Hyundai Motor.


KRX Short Interest Weekly (Dec 22nd): Hanwha Solutions, Samsung Electron, Hyundai Motor

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>Due to the sharp appreciation of Hana Micron's share price this year, its valuation discount to companies such as HPSP has narrowed substantially. </li>
<li>Samsung Electronics is one of the major customers of Hana Micron. Samsung recently reported that it has successfully secured the right to supply advanced memory chips to NVIDIA.</li>
<li>We do not believe Hana Micron's valuations are attractive right now. Rather than chasing after its shares, we would rather wait for its shares to retreat (20-30%) a bit.</li>
</ul>


Due to the sharp appreciation of Hana Micron's share price this year, its valuation discount to companies such as HPSP has narrowed substantially. 
Samsung Electronics is one of the major customers of Hana Micron. Samsung recently reported that it has successfully secured the right to supply advanced memory chips to NVIDIA.
We do not believe Hana Micron's valuations are attractive right now. Rather than chasing after its shares, we would rather wait for its shares to retreat (20-30%) a bit.


Hana Micron: Semiconductor Chips Packaging Company With Solid Fundamentals and FOMO Trading

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>US graphics chip designer <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA Corp (NVDA US)</a> has, to date, sourced HBM3 chips exclusively from <a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a>.</li>
<li>Shares in <a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> promptly popped ~6% last Friday on news it had been added as a supplier to NVIDIA.</li>
<li>
<a href="https://www.smartkarma.com/entities/hana-micron-inc" target="_blank" data-smartkarma-citation="entities:1464:1" rel="noopener">Hana Micron Inc (067310 KS)</a>, which boasts Samsung as its largest customer, similarly jumped, and is up 45% in the past week. Too much too quickly?</li>
</ul>


US graphics chip designer NVIDIA Corp (NVDA US) has, to date, sourced HBM3 chips exclusively from SK Hynix (000660 KS).
Shares in Samsung Electronics (005930 KS) promptly popped ~6% last Friday on news it had been added as a supplier to NVIDIA.

Hana Micron Inc (067310 KS), which boasts Samsung as its largest customer, similarly jumped, and is up 45% in the past week. Too much too quickly?


Hana Micron's Boost From Samsung/Nvidia Agreement

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.

<ul>
<li>Two SOL sector ETFs are unique in that they only include companies positioned upstream. This results in a group of smaller-sized constituents, which can have a greater flow impact.</li>
<li>Once the universe is established, constituent selection and weight adjustment are determined exclusively using full/float market capitalization. As a result, flow trading can be highly predictable.</li>
<li>Although they have lower AUM, the five Semiconductor constituents could still face a significant flow impact during this one-day flow event due to their much lower DTV.</li>
</ul>


Two SOL sector ETFs are unique in that they only include companies positioned upstream. This results in a group of smaller-sized constituents, which can have a greater flow impact.
Once the universe is established, constituent selection and weight adjustment are determined exclusively using full/float market capitalization. As a result, flow trading can be highly predictable.
Although they have lower AUM, the five Semiconductor constituents could still face a significant flow impact during this one-day flow event due to their much lower DTV.


Preemptive Flow Trading Opportunities with the Fastest-Growing Sector ETFs in Korea

South Korea

Hana Micron Inc. designs, develops, manufactures, and sells semiconductor packages for memory and non-memory semiconductor products.  The Company also produces USB flash drive (UFD), a mobile storage devices which can substitute floppy disk drives.

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Hana Micron Inc (067310 KS)

KRX Short Interest Weekly (Jan 5th): Sk Hynix, Samsung Electron, Naver, Kia

We analyzed KRX short interest report for the past week and highlighted short interest changes in Sk Hynix, Samsung Electron, Naver, Kia.

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Dec 22nd): Hanwha Solutions, Samsung Electron, Hyundai Motor

We analyzed KRX short interest report for the past week and highlight short interest changes in Hanwha Solutions, Samsung Electron, Hyundai Motor.

Ke Yan, CFA, FRM

Hana Micron: Semiconductor Chips Packaging Company With Solid Fundamentals and FOMO Trading

We do not believe Hana Micron's valuations are attractive right now. Rather than chasing after its shares, we would rather wait for its shares to...

Douglas Kim

Hana Micron's Boost From Samsung/Nvidia Agreement

Hana appears expensive. On the surface. Yet forecast figures are impressive as Hana rides on Samsung's coatails. At a 6x and 4.7x FY24E and FY25E...

David Blennerhassett

Preemptive Flow Trading Opportunities with the Fastest-Growing Sector ETFs in Korea

This post presents preemptive flow trading opportunities with the currently fastest-growing sector ETFs in Korea, both of which got listed late...

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

KRX Short Interest Weekly (Jan 5th): Sk Hynix, Samsung Electron, Naver, Kia

We analyzed KRX short interest report for the past week and highlighted short interest changes in Sk Hynix, Samsung Electron, Naver, Kia.

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Dec 22nd): Hanwha Solutions, Samsung Electron, Hyundai Motor

We analyzed KRX short interest report for the past week and highlight short interest changes in Hanwha Solutions, Samsung Electron, Hyundai Motor.

Ke Yan, CFA, FRM

Hana Micron: Semiconductor Chips Packaging Company With Solid Fundamentals and FOMO Trading

We do not believe Hana Micron's valuations are attractive right now. Rather than chasing after its shares, we would rather wait for its shares to...

Douglas Kim

Hana Micron's Boost From Samsung/Nvidia Agreement

Hana appears expensive. On the surface. Yet forecast figures are impressive as Hana rides on Samsung's coatails. At a 6x and 4.7x FY24E and FY25E...

David Blennerhassett

Preemptive Flow Trading Opportunities with the Fastest-Growing Sector ETFs in Korea

This post presents preemptive flow trading opportunities with the currently fastest-growing sector ETFs in Korea, both of which got listed late...

Sanghyun Park

This post presents preemptive flow trading opportunities with the currently fastest-growing sector ETFs in Korea, both of which got listed late...