Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<ul>
<li>Yoon Suk-Yeol was elected the new President of South Korea on 10 March.</li>
<li>As the next President of South Korea, Yoon will certainly try to increase much needed housing supply and this will certainly benefit the major construction companies in Korea.</li>
<li>Another major sector that will likely benefit as a result of Yoon becoming the President is the nuclear industry.</li>
</ul>


Yoon Suk-Yeol was elected the new President of South Korea on 10 March.
As the next President of South Korea, Yoon will certainly try to increase much needed housing supply and this will certainly benefit the major construction companies in Korea.
Another major sector that will likely benefit as a result of Yoon becoming the President is the nuclear industry.


Yoon Suk-Yeol Becomes the New President of South 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>Based on prices and turnover from 17 July, there could be 5 additions and 1 deletion for the index in July. Plus there will be capping and float changes.</li>
<li>Estimated one-way turnover is 7.9% resulting in a round-trip trade of US$840m. There are many stocks with multiple days of ADV to trade.</li>
<li>The index is currently trading 34% below its highs but near a zone from where it has bounced in the past.</li>
</ul>


Based on prices and turnover from 17 July, there could be 5 additions and 1 deletion for the index in July. Plus there will be capping and float changes.
Estimated one-way turnover is 7.9% resulting in a round-trip trade of US$840m. There are many stocks with multiple days of ADV to trade.
The index is currently trading 34% below its highs but near a zone from where it has bounced in the past.


Solactive Global Uranium & Nuclear Components Index Rebalance Preview: 5 Adds, 1 Delete Possible

Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) (2330 TT)

TSMC (Taiwan Semiconductor Manufacturing)

<ul>
<li>Since the last rebalancing on 19th May our Model Portfolio declined 0.7% while MXASJ appreciated 1.48%. Since inception, our portfolio has appreciated 41.6% and MXASJ has moved up 45.8%.</li>
<li>With renewed geopolitical uncertainty, we highlight long-term preferences on AI picks and shovels, Chinese exporters with overseas supply chains. The former now translates to increased focus on power, materials industrials.</li>
<li>With China's domestic consumption in doldrums, we exclude Alibaba and trim the weights of all consumer and consumer proxies. We include Geely, Weichai Power, Zhongji Innolight, Posco and CG Power. </li>
</ul>


Since the last rebalancing on 19th May our Model Portfolio declined 0.7% while MXASJ appreciated 1.48%. Since inception, our portfolio has appreciated 41.6% and MXASJ has moved up 45.8%.
With renewed geopolitical uncertainty, we highlight long-term preferences on AI picks and shovels, Chinese exporters with overseas supply chains. The former now translates to increased focus on power, materials industrials.
With China's domestic consumption in doldrums, we exclude Alibaba and trim the weights of all consumer and consumer proxies. We include Geely, Weichai Power, Zhongji Innolight, Posco and CG Power. 


Asian Equities: Model Portfolio - Leaning More Towards Power, Materials, Industrials

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Shanghai Shenzhen CSI 300 Index / Technical Analysis

Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX EQUITY)

Global equities (MSCI ACWI, ACWI ex-US, and EAFE) remain bullish with their uptrends intact, and the MSCI Emerging Markets index continues to hold above major support at $52 on the EEM-US. Additionally, Europe’s STOXX 50 and Hong Kong’s Hang Seng are on the cusp of short-term breakouts, while the major indexes in China (Shanghai Composite &amp; CSI 300) are currently breaking above short-term resistance... see chart below. Considering the absence of breakdowns and the fact that market dynamics remain largely positive, our overall constructive outlook remains appropriate.

Global equities (MSCI ACWI, ACWI ex-US, and EAFE) remain bullish with their uptrends intact, and the MSCI Emerging Markets index continues to hold above major support at $52 on the EEM-US. Additionally, Europe’s STOXX 50 and Hong Kong’s Hang Seng are on the cusp of short-term breakouts, while the major indexes in China (Shanghai Composite &amp; CSI 300) are currently breaking above short-term resistance... see chart below. Considering the absence of breakdowns and the fact that market dynamics remain largely positive, our overall constructive outlook remains appropriate.

Chinese Indexes Headed Higher; Actionable Themes: Transportation, Materials, and Services

This morning on May 2nd, it was widely reported in the media that dictator <a href="https://news.joins.com/article/23767647" target="_blank" rel="noopener">Kim Jong-Un</a> showed up at a fertilizer factory in North Korea on May 1st. This was the first time in 20 days that he has shown up publicly. There has been a huge amount of global media attention on his health conditions, especially after he failed to show up at Kim Il-Sung's birthday ceremony on April 15th. So far, the North Korean government has not stated why Kim Jong-Un disappeared for nearly three weeks. <div class="content-highlight">What we still do not know: Despite this announcement, the North Korean government has yet to provide actual videos of Kim Jong-Un walking around alive. Although the photos provide some confirmation that Kim Jong-Un is alive until there are actual videos of him walking on his own, theexact health conditions of Kim Jong-Un remain unclear. </div>

This morning on May 2nd, it was widely reported in the media that dictator Kim Jong-Un showed up at a fertilizer factory in North Korea on May 1st. This was the first time in 20 days that he has shown up publicly. There has been a huge amount of global media attention on his health conditions, especially after he failed to show up at Kim Il-Sung's birthday ceremony on April 15th. So far, the North Korean government has not stated why Kim Jong-Un disappeared for nearly three weeks. What we still do not know: Despite this announcement, the North Korean government has yet to provide actual videos of Kim Jong-Un walking around alive. Although the photos provide some confirmation that Kim Jong-Un is alive until there are actual videos of him walking on his own, theexact health conditions of Kim Jong-Un remain unclear. 

Kim Jong Un Shows Up At a Fertilizer Factory - Now You See Me?

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
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Hyundai Engineering & Construction (000720 KS)

Yoon Suk-Yeol Becomes the New President of South Korea

Yoon Suk-Yeol was elected the new President of South Korea on 10 March. Can he become the first ever hero President in South Korea, in the likes of...

Douglas Kim

Solactive Global Uranium & Nuclear Components Index Rebalance Preview: 5 Adds, 1 Delete Possible

There could be 5 adds and 1 delete for the index in July. Estimated one-way turnover is 7.9% resulting in a round-trip trade of US$840m. The index...

Brian Freitas

Asian Equities: Model Portfolio - Leaning More Towards Power, Materials, Industrials

Our Model Portfolio underperformed MXASJ since last rebalancing. We add power, industrials & basic material as AI proxies & Chinese exporters with...

Manishi Raychaudhuri

Chinese Indexes Headed Higher; Actionable Themes: Transportation, Materials, and Services

The evidence continues to suggest that value remains leadership and we recommend adding exposure to cyclical value on this minor pullback in the...

Vermilion Research

Kim Jong Un Shows Up At a Fertilizer Factory - Now You See Me?

This morning on May 2nd, it was widely reported in the media that dictator Kim Jong-Un showed up at a fertilizer factory in North Korea on May 1st....

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Yoon Suk-Yeol Becomes the New President of South Korea

Yoon Suk-Yeol was elected the new President of South Korea on 10 March. Can he become the first ever hero President in South Korea, in the likes of...

Douglas Kim

Solactive Global Uranium & Nuclear Components Index Rebalance Preview: 5 Adds, 1 Delete Possible

There could be 5 adds and 1 delete for the index in July. Estimated one-way turnover is 7.9% resulting in a round-trip trade of US$840m. The index...

Brian Freitas

Asian Equities: Model Portfolio - Leaning More Towards Power, Materials, Industrials

​Our Model Portfolio underperformed MXASJ since last rebalancing. We add power, industrials & basic material as AI proxies & Chinese exporters with...

Manishi Raychaudhuri

Chinese Indexes Headed Higher; Actionable Themes: Transportation, Materials, and Services

The evidence continues to suggest that value remains leadership and we recommend adding exposure to cyclical value on this minor pullback in the...

Vermilion Research

Kim Jong Un Shows Up At a Fertilizer Factory - Now You See Me?

This morning on May 2nd, it was widely reported in the media that dictator Kim Jong-Un showed up at a fertilizer factory in North Korea on May 1st....

Douglas Kim

Our Model Portfolio underperformed MXASJ since last rebalancing. We add power, industrials & basic material as AI proxies & Chinese exporters with...