Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<ul>
<li>Korea's majority party plans to amend the Capital Markets Act to base listed companies' merger ratios on intrinsic rather than market value, dubbed the "Doosan Bobcat Prevention Law."</li>
<li>Other conglomerates, like Hanwha and Hyundai Motor Group, may execute mergers just before this amendment.</li>
<li>We should expect shareholder-favorable merger ratios. So, we should position in such companies before announcements, ideally just before the new amendment's enforcement.</li>
</ul>


Korea's majority party plans to amend the Capital Markets Act to base listed companies' merger ratios on intrinsic rather than market value, dubbed the "Doosan Bobcat Prevention Law."
Other conglomerates, like Hanwha and Hyundai Motor Group, may execute mergers just before this amendment.
We should expect shareholder-favorable merger ratios. So, we should position in such companies before announcements, ideally just before the new amendment's enforcement.


Trading Opportunities Arising from the Enactment of The "Doosan Bobcat Prevention Law"

<ul>
<li>Finding a trading entry point during a stock dividend event is tough, but locally, stock prices often rise post-ex-rights date and stabilize after listing, over 70% of the time.</li>
<li>There’s speculation that local flow trading, mainly driven by local prop traders, might target this pattern in Glovis’s stock dividend as well.</li>
<li>While I wouldn’t recommend banking on this probabilistic trading setup, it's important to be aware that this could significantly impact stock movements from the ex-rights date to the listing date.</li>
</ul>


Finding a trading entry point during a stock dividend event is tough, but locally, stock prices often rise post-ex-rights date and stabilize after listing, over 70% of the time.
There’s speculation that local flow trading, mainly driven by local prop traders, might target this pattern in Glovis’s stock dividend as well.
While I wouldn’t recommend banking on this probabilistic trading setup, it's important to be aware that this could significantly impact stock movements from the ex-rights date to the listing date.


Potential Recurrence of Local Flow Trade Patterns in Hyundai Glovis's Stock Dividend Event

External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

External broker reports(aggregated public sources)

Founded in 1962, Daishin Securities is a leading financial services provider in Korea. Daishin securities does its best to provide high quality financial service and to satisfy the various needs of investors. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul>
<li>The CEO Investor Day scheduled to be held this Friday (June 28).</li>
<li>Long-term strategies for existing/new businesses, financial goals, shareholder return policy likely to be announced.</li>
<li>2H24 earnings to meet expectations. Earnings should steadily improve through 2H24 and FY2025.</li>
</ul>
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.


The CEO Investor Day scheduled to be held this Friday (June 28).
Long-term strategies for existing/new businesses, financial goals, shareholder return policy likely to be announced.
2H24 earnings to meet expectations. Earnings should steadily improve through 2H24 and FY2025.

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.

Hyundai Glovis: Anticipating CEO Investor Day

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>We are starting a new series of insights called "Top 10 Korean Stock Picks Bi-Weekly."
</li>
<li>The main purpose of these insights is to pick top 10 stocks in Korea that could outperform KOSPI in the following two week period.</li>
<li>The top 10 stock picks include Kia Corp, Kangwon Land, OCI Holdings, HD Hyundai, Doosan Bobcat, BNK Financial, Hyundai Mobis, HMM, Hyundai Glovis, and Korean Reinsurance.</li>
</ul>


We are starting a new series of insights called "Top 10 Korean Stock Picks Bi-Weekly."

The main purpose of these insights is to pick top 10 stocks in Korea that could outperform KOSPI in the following two week period.
The top 10 stock picks include Kia Corp, Kangwon Land, OCI Holdings, HD Hyundai, Doosan Bobcat, BNK Financial, Hyundai Mobis, HMM, Hyundai Glovis, and Korean Reinsurance.


Top 10 Korean Stock Picks Bi-Weekly (Starting 20 January 2025)

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jan 3rd which has an aggregated holding worth USD457.4bn.</li>
<li>We estimate that foreign flows to be outflows of USD259mln. 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 Samsung Electronics (005930 KS) .</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jan 3rd which has an aggregated holding worth USD457.4bn.
We estimate that foreign flows to be outflows of USD259mln. 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 Samsung Electronics (005930 KS) .


KRX Foreign Holding Weekly (Jan 3rd): Samsung Electronics

South Korea

Hyundai Glovis Co., Ltd. provides domestic and international logistic services. The Company's services include domestic transportation, storage, packaging, vehicle logistic, and logistic consulting.  GLOVIS also runs automobile auction market for used vehicle.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Hyundai Glovis (086280 KS)

Trading Opportunities Arising from the Enactment of The "Doosan Bobcat Prevention Law"

This post explores trading opportunities expected from the upcoming "Doosan Bobcat Prevention Law," as labeled by the local market.

Sanghyun Park

Potential Recurrence of Local Flow Trade Patterns in Hyundai Glovis's Stock Dividend Event

This post analyzes the potential recurrence of local flow trade patterns, mainly driven by local proprietary traders, in Hyundai Glovis's 100%...

Sanghyun Park

Hyundai Glovis: Anticipating CEO Investor Day

The CEO Investor Day scheduled to be held this Friday (June 28). Long-term strategies for existing/new businesses, financial goals, shareholder...

Daishin Securities

Top 10 Korean Stock Picks Bi-Weekly (Starting 20 January 2025)

We are starting a new series of insights called "Top 10 Korean Stock Picks Bi-Weekly." Main purpose of them is to pick top 10 stocks in Korea that...

Douglas Kim

KRX Foreign Holding Weekly (Jan 3rd): Samsung Electronics

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics (005930 KS).

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)