External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Thematic (Sector/Industry)

<ul><li>We anticipate only a modest recovery for the construction sector in 2026.</li><li>Within the sector, we expect share performances to diverge depending on momentum in non-housing segments (such as overseas nuclear power projects) and overall earnings trajectories.</li><li>The construction sector’s P/B discount vs. the KOSPI has widened to 58%. We see room for the valuation gap to narrow.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We anticipate only a modest recovery for the construction sector in 2026.Within the sector, we expect share performances to diverge depending on momentum in non-housing segments (such as overseas nuclear power projects) and overall earnings trajectories.The construction sector’s P/B discount vs. the KOSPI has widened to 58%. We see room for the valuation gap to narrow.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

[2026 Outlook] Construction/Building MaterialsA time for selective positioning

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 analyzed the changes in short interest of KRX stocks as of Sep 11th. The aggregated short interest was USD18.8bn.</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 DB HiTek, SK Hynix, WONIK IPS, KEPCO E&amp;C, Hanmi Semi.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Sep 11th. The aggregated short interest was USD18.8bn.
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 DB HiTek, SK Hynix, WONIK IPS, KEPCO E&amp;C, Hanmi Semi.


KRX Short Interest Weekly (Sep 11th): DB HiTek, SK Hynix, WONIK IPS, KEPCO E&C, Hanmi Semi

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>KOSPI and KOSDAQ are up 10.2% and 14%, respectively YTD, outperforming S&amp;P 500 is up 2.2% in the same period.  so far. </li>
<li>One of the big drivers of higher share prices of Korean stock market this year has been the strong net buying by the NPS.</li>
<li>Some of the major stocks that have been net purchased by the NPS so far this year include Samsung Electronics, SK Hynix, LG Energy Solution, Hyundai E&amp;C, and Samsung Biologics.</li>
</ul>


KOSPI and KOSDAQ are up 10.2% and 14%, respectively YTD, outperforming S&amp;P 500 is up 2.2% in the same period.  so far. 
One of the big drivers of higher share prices of Korean stock market this year has been the strong net buying by the NPS.
Some of the major stocks that have been net purchased by the NPS so far this year include Samsung Electronics, SK Hynix, LG Energy Solution, Hyundai E&amp;C, and Samsung Biologics.


What Is NPS Buying and Selling in the Korean Stock Market in 2025 So Far?

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Sep 11th. The aggregated holding was USD1,714.2bn.</li>
<li>We estimate that foreign flows to be inflows of USD1,692mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO Technics.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 11th. The aggregated holding was USD1,714.2bn.
We estimate that foreign flows to be inflows of USD1,692mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO Technics.


KRX Foreign Holding Weekly (Sep 11th): SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO Technics

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Sep 4th. The aggregated holding was USD1,642.8bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,855mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in SK Hynix, Woori Financial, Samsung Electronics, Samsung Elec (PREF), Samsung SDI.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 4th. The aggregated holding was USD1,642.8bn.
We estimate that foreign flows to be outflows of USD2,855mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, Woori Financial, Samsung Electronics, Samsung Elec (PREF), Samsung SDI.


KRX Foreign Holding Weekly (Sep 4th): SK Hynix, Woori Financial, Samsung Electronics, Samsung SDI

South Korea

Hyundai Engineering & Construction Co., Ltd., a general construction company, provides civil engineering, architectural, industrial, and electrical engineering services.  The Company constructs roadways, dams, bridges, ports, industrial plants, apartment complexes, and cultural facilities.

Hyundai Engineering & Construction (000720 KS)

Price Gauge
52-week Range	0.00 - 0.00
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Dividend (Yield)	0.00

Hyundai Engineering & Construction (000720 KS)

[2026 Outlook] Construction/Building MaterialsA time for selective positioning

Within the sector, we expect share performances to diverge depending on momentum in non-housing segments (such as overseas nuclear power projects)...

Mirae Asset Securities

KRX Short Interest Weekly (Sep 11th): DB HiTek, SK Hynix, WONIK IPS, KEPCO E&C, Hanmi Semi

We analyzed KRX short interest report for the past week and highlighted short interest changes in DB HiTek, SK Hynix, WONIK IPS, KEPCO E&C, Hanmi...

Ke Yan, CFA, FRM

What Is NPS Buying and Selling in the Korean Stock Market in 2025 So Far?

One of the big drivers of higher share prices of Korean stock market this year has been the strong net buying by the NPS. Pension funds in Korea...

Douglas Kim

KRX Foreign Holding Weekly (Sep 11th): SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO Technics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, SKSQUARE, Samsung Elec (PREF), KAL, EO...

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Sep 4th): SK Hynix, Woori Financial, Samsung Electronics, Samsung SDI

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Woori Financial, Samsung Electronics,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)