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

Shenton Research

Shenton 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 analysed the earning revision of component stocks of MS-South Korea in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on KAL, SK Hynix, LG Display, SK Innovation, SKSQUARE, Shinhan Group, KB Financial, Samsung Electronics.</li>
</ul>


We analysed the earning revision of component stocks of MS-South Korea in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on KAL, SK Hynix, LG Display, SK Innovation, SKSQUARE, Shinhan Group, KB Financial, Samsung Electronics.


MS-South Korea Index Earning Revision (Jul): KAL, SK Hynix, LG Display, SK Innovation, SKSQUARE

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<ul>
<li>This past week, I had a discussion with Changhwan Lee, the founder and CEO of Align Partners which is currently an activist investor on S.M.Entertainment Co (041510 KS).</li>
<li>This insight provides the details of why Align Partners is going activist on SM Entertainment. </li>
<li>Through more successful proxy fights such as SM Entertainment, there could be greater value that could be unlocked from many listed companies in Korea with poor corporate governance. </li>
</ul>


This past week, I had a discussion with Changhwan Lee, the founder and CEO of Align Partners which is currently an activist investor on S.M.Entertainment Co (041510 KS).
This insight provides the details of why Align Partners is going activist on SM Entertainment. 
Through more successful proxy fights such as SM Entertainment, there could be greater value that could be unlocked from many listed companies in Korea with poor corporate governance. 


A Discussion with Align Partners' CEO on SM Entertainment

Head of ESG Intelligence, Who's Good

Soo Young Kim

Head of ESG Intelligence

ASIA’S FIRST AI-DRIVEN ESG INSIGHT PROVIDER

Who's Good

Using AI technologies and public data, Who’s Good provides objective and up-to-date corporate ESG insights on Asian companies.

WHY WHO'S GOOD

* Time-sensitive: Time is the essence in finance. Artificial Intelligence (AI) can process vast amount of information in a short span of time. Our powerful algorithm offers real-time in-depth corporate ESG analysis with out compromising its quality.
* Objective: We turned to public big data and news big data as source to base our analysis on and to preserve impartiality. We leverage 350 public big data sources and 93 news data sources in Korea to uncover insights.
* Insightful: Who’s Good ESG analysis coverage extends to all listed and non-listed companies in Korea. This allows us to provide a comprehensive insight into the Korean market.
* Global approach to ESG: Our ESG research framework is built on international standards and principles including UN Global Compact, ISO 26000, ICGN and CFA Guidelines on Corporate Governance to meet the global standards.

<ul>
<li>JYP Entertainment (035900), one of the major entertainment companies in Korea, just released its very first ESG report in the industry</li>
<li>As climate change issues grow among fandom, likely to see growing risk for environmental issues. For social issues, anti-competitive practices and consumer issues became material</li>
<li>'Business Ethics' issues at YG Entertainment (122870) has pulled down its stock price in 2019, causing its main artist to disband</li>
</ul>


JYP Entertainment (035900), one of the major entertainment companies in Korea, just released its very first ESG report in the industry
As climate change issues grow among fandom, likely to see growing risk for environmental issues. For social issues, anti-competitive practices and consumer issues became material
'Business Ethics' issues at YG Entertainment (122870) has pulled down its stock price in 2019, causing its main artist to disband


K-Pop Industry Finally Starts to Pay Attention to ESG

Cross Asset Strategy

<div class="content-highlight">In this insight, we discuss about the winners and losers among the top 100 stocks in KOSPI, especially in the most recent "KOSPI Box trading range" lasting from 8 January to 10 February 2021 (see chart below). Sometimes, finding out what stocks and sectors outperform in a box trading range could lead to some clues in helping to understand what stocks and sectors could outperform in the coming weeks. From 8 January to 10 February, KOSPI has been trading in a box range and its is down slightly (1.6%) in this period. </div>

In this insight, we discuss about the winners and losers among the top 100 stocks in KOSPI, especially in the most recent "KOSPI Box trading range" lasting from 8 January to 10 February 2021 (see chart below). Sometimes, finding out what stocks and sectors outperform in a box trading range could lead to some clues in helping to understand what stocks and sectors could outperform in the coming weeks. From 8 January to 10 February, KOSPI has been trading in a box range and its is down slightly (1.6%) in this period. 

Winners & Losers in the KOSPI Box Trading Range & Return of Money Velocity Post End of Lock Down?

The Korea Exchange announced its KOSDAQ150 and KRX300 indices rebalances today. There were 17 new additions and 17 deletions for KOSDAQ150. Most of the stocks that were expected to be included in KOSDAQ 150 were officially included in the rebalance. However there were a few surprises. For example <a href="https://www.smartkarma.com/entities/nanos-co-ltd" target="_blank" data-smartkarma-citation="entities:16796:1" rel="noopener">Nanos Co Ltd (151910 KS),</a>which was one of the stocks that was expected to be included in KOSDAQ150, did not get included in this indext this time. On the other hand, the following stocks including <a href="https://www.smartkarma.com/entities/sang-a-frontec-co-ltd" target="_blank" data-smartkarma-citation="entities:20692:1" rel="noopener">Sang A Frontec (089980 KS)</a>, Novarex (194700 KS(, CIS (222080 KS), MedPacto (215980 KS), <a href="https://www.smartkarma.com/entities/koreacenter-com-co-ltd" target="_blank" data-smartkarma-citation="entities:28329:1" rel="noopener">Koreacenter.com Co Ltd (290510 KS)</a>, and Soulbrain (357780 KS) which were not on the top of the lists of getting selected into the KOSDAQ150 index by the locals, were formally selected be part of the new KOSDAQ150 inclusions.  The Korea Exchange also made changes to the KRX300 index. Although the KRX300 index is not currently as important as KOSPI200 and KOSDAQ150 indices, it is increasingly gaining in importance among the local institutional investors. The KRX300 had 33 new additions and 35 deletions.

The Korea Exchange announced its KOSDAQ150 and KRX300 indices rebalances today. There were 17 new additions and 17 deletions for KOSDAQ150. Most of the stocks that were expected to be included in KOSDAQ 150 were officially included in the rebalance. However there were a few surprises. For example Nanos Co Ltd (151910 KS),which was one of the stocks that was expected to be included in KOSDAQ150, did not get included in this indext this time. On the other hand, the following stocks including Sang A Frontec (089980 KS), Novarex (194700 KS(, CIS (222080 KS), MedPacto (215980 KS), Koreacenter.com Co Ltd (290510 KS), and Soulbrain (357780 KS) which were not on the top of the lists of getting selected into the KOSDAQ150 index by the locals, were formally selected be part of the new KOSDAQ150 inclusions.  The Korea Exchange also made changes to the KRX300 index. Although the KRX300 index is not currently as important as KOSPI200 and KOSDAQ150 indices, it is increasingly gaining in importance among the local institutional investors. The KRX300 had 33 new additions and 35 deletions. 

KOSDAQ150 and KRX300 Indices Rebalances (Overlapping Additions & Deletions)

South Korea

HYBE Co., Ltd. operates as an entertainment company. The Company provides music production, album distribution, entertainers management, publicity, planning, training, and other services. HYBE also makes television shows.

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HYBE (352820 KS)

MS-South Korea Index Earning Revision (Jul): KAL, SK Hynix, LG Display, SK Innovation, SKSQUARE

We analyzed MS-South Korea's consensus for Jul 2026 and highlighted changes of EPS in KAL, SK Hynix, LG Display, SK Innovation, SKSQUARE, Shinhan...

Ke Yan, CFA, FRM

A Discussion with Align Partners' CEO on SM Entertainment

This past week, I had a discussion with Changhwan Lee, the founder and CEO of Align Partners which is currently an activist investor on...

Douglas Kim

K-Pop Industry Finally Starts to Pay Attention to ESG

This insight explains how K-pop industry behaves from the ESG perspective and defines the types of ESG issues in the industry, based on news text...

Soo Young Kim

Winners & Losers in the KOSPI Box Trading Range & Return of Money Velocity Post End of Lock Down?

In this insight, we discuss about the winners and losers among the top 100 stocks in KOSPI, especially in the most recent "KOSPI Box trading range"...

Douglas Kim

KOSDAQ150 and KRX300 Indices Rebalances (Overlapping Additions & Deletions)

We highlight the KOSDAQ150 and KRX300 indices rebalances. There are some interesting new names, especially among those that are over lapping in...

Douglas Kim

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