Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<ul>
<li>We discuss two positive factors pushing greater demand for Korean preference stocks (value &amp; new government) offset by one major negative factor (market liquidity) this year. </li>
<li>The 28 common shares are on average down 17% YTD versus their preference counterparts which are down on average 17.3% YTD.</li>
<li>The sharp increases in common vs preference shares on Amorepacific Corp, Hotel Shilla, and LG H&amp;H last month may be a bit excessive and the gaps are likely to narrow.  </li>
</ul>


We discuss two positive factors pushing greater demand for Korean preference stocks (value &amp; new government) offset by one major negative factor (market liquidity) this year. 
The 28 common shares are on average down 17% YTD versus their preference counterparts which are down on average 17.3% YTD.
The sharp increases in common vs preference shares on Amorepacific Corp, Hotel Shilla, and LG H&amp;H last month may be a bit excessive and the gaps are likely to narrow.  


Korean Prefs Vs Common: Closing the Gaps on Select Stocks

Thematic (Sector/Industry)

<ul>
<li>In this insight, we discuss the recent COVID-19 stats including cases, deaths, and recovery/death rates.</li>
<li>In addition, we analyze the easing of travel restrictions among major Asian countries including Australia, India, Japan, Singapore, Thailand, and South Korea. </li>
<li>More countries are treating COVID-19 not as a pandemic but as a serious flu. </li>
</ul>


In this insight, we discuss the recent COVID-19 stats including cases, deaths, and recovery/death rates.
In addition, we analyze the easing of travel restrictions among major Asian countries including Australia, India, Japan, Singapore, Thailand, and South Korea. 
More countries are treating COVID-19 not as a pandemic but as a serious flu. 


A Review of COVID-19 Cases & The Easing of Travel Restrictions in Major Asian Countries

South Korea recorded the highest daily cases (1,378) of COVID-19 on 9 July in the past 18 months. Despite enormous efforts to control COVID-19 through massive mask wearing, social distancing measures, and use of smartphone based tracing system, they have not prevented <a href="https://www.theguardian.com/world/2021/jul/10/seoul-heads-for-lockdown-as-infections-spiral-in-south-korea" target="_blank" rel="noopener">COVID-19</a> cases reaching new highs in South Korea. The chief culprit has been the Delta variant.

South Korea recorded the highest daily cases (1,378) of COVID-19 on 9 July in the past 18 months. Despite enormous efforts to control COVID-19 through massive mask wearing, social distancing measures, and use of smartphone based tracing system, they have not prevented COVID-19 cases reaching new highs in South Korea. The chief culprit has been the Delta variant. 

Highest Daily Cases of COVID-19 in Korea Driven by the Delta Variant - Impact on the Stock Market

<div class="content-highlight"><a href="https://www.news1.kr/articles/?4201835" target="_blank" rel="noopener">Korea Financial Services Commission (FSC)</a> announced after the market close today that there will be a PARTIAL end of the ban on short selling of stocks starting on May 3rd. This will not be applied on the entire market. Rather, this partial end of the ban on short selling of stocks will only apply for KOSPI 200 and KOSDAQ 150 included stocks (350 stocks in total) and will not apply for the remaining 2,037 stocks in the Korean stock market.</div>

Korea Financial Services Commission (FSC) announced after the market close today that there will be a PARTIAL end of the ban on short selling of stocks starting on May 3rd. This will not be applied on the entire market. Rather, this partial end of the ban on short selling of stocks will only apply for KOSPI 200 and KOSDAQ 150 included stocks (350 stocks in total) and will not apply for the remaining 2,037 stocks in the Korean stock market.

PARTIAL END of Ban on Short Selling of Stocks in Korea

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Less than a year since the news hit that the Chinese outbreak spread to the world, <a href="https://www.smartkarma.com/entities/pfizer-inc" target="_blank" data-smartkarma-citation="entities:1131:1" rel="noopener">Pfizer Inc (PFE US)</a> has announced its vaccine with more than 90% effective in preventing Covid-19 among those without evidence of prior infection. Similar to <a href="https://www.smartkarma.com/insights/china-outbreak-theme-winners-and-losers" target="_blank" data-smartkarma-citation="insights:35971" rel="noopener">China Outbreak Theme: Winners and Losers</a> , this insight will discuss the potential winners and losers from the announcement of the vaccine. Travel-related names such as airlines, airport operators, tour operators, the duty-free operators are the clear beneficiaries of this news while auto dealership will also benefit from the potential lower unemployment later on. Instant noodle makers, pc makers that benefit from the work-from-home rush, as well as glove makers will no longer enjoy the same growth rate in 1H, and in the case of the glove makers, both ASP and volumes may see a decline.

Less than a year since the news hit that the Chinese outbreak spread to the world, Pfizer Inc (PFE US) has announced its vaccine with more than 90% effective in preventing Covid-19 among those without evidence of prior infection. Similar to China Outbreak Theme: Winners and Losers , this insight will discuss the potential winners and losers from the announcement of the vaccine. Travel-related names such as airlines, airport operators, tour operators, the duty-free operators are the clear beneficiaries of this news while auto dealership will also benefit from the potential lower unemployment later on. Instant noodle makers, pc makers that benefit from the work-from-home rush, as well as glove makers will no longer enjoy the same growth rate in 1H, and in the case of the glove makers, both ASP and volumes may see a decline. 

South Korea

Hotel Shilla Co.,Ltd operates and manages hotels in Seoul and Jeju. The Company also operates duty free shops, bakeries, restaurants, and catering and laundry service businesses.

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Hotel Shilla (008770 KS)

Korean Prefs Vs Common: Closing the Gaps on Select Stocks

We discuss two positive factors pushing greater demand for Korean preference stocks (value & new government) offset by one major negative factor...

Douglas Kim

A Review of COVID-19 Cases & The Easing of Travel Restrictions in Major Asian Countries

We discuss the recent COVID-19 stats including cases, deaths, and recovery/death rates in major Asian countries. More countries are treating COVID...

Douglas Kim

Highest Daily Cases of COVID-19 in Korea Driven by the Delta Variant - Impact on the Stock Market

South Korea recorded the highest daily cases (1,378) of COVID-19 on 9 July in the past 18 months. The chief culprit has been the Delta variant.

Douglas Kim

PARTIAL END of Ban on Short Selling of Stocks in Korea

Korea Financial Services Commission (FSC) announced after the market close today that there will be a PARTIAL end of the ban on short selling of...

Douglas Kim

Pfizer Vaccine: Winners and Losers

Similar to China Outbreak Theme: Winners and Losers , this insight will discuss the potential winners and losers from the announcement of the vaccine.

Henry Soediarko

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