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 18th. The aggregated short interest was USD18.1bn.</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 SK Hynix, DB HiTek, SIMMTECH, JEL, Samsung Elec (PREF).</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Sep 18th. The aggregated short interest was USD18.1bn.
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 SK Hynix, DB HiTek, SIMMTECH, JEL, Samsung Elec (PREF).


KRX Short Interest Weekly (Sep 18th): SK Hynix, DB HiTek, SIMMTECH, JEL, Samsung Elec (PREF)

<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

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>There is 1 add/delete for the MarketVector Global Uranium and Nuclear Energy Index, and no constituent changes for the MVIS Global Uranium &amp; Nuclear Energy Infrastructure Index in September.</li>
<li>
<a href="https://www.smartkarma.com/entities/boss-energy" target="_blank" data-smartkarma-citation="entities:4823:1" rel="noopener">Boss Energy (BOE AU)</a> is an add, <a href="https://www.smartkarma.com/entities/encore-energy-corp" target="_blank" data-smartkarma-citation="entities:39218:1" rel="noopener">Encore Energy (EU US)</a> is a delete, and there is a listing switch for <a href="https://www.smartkarma.com/entities/isoenergy-ltd" target="_blank" data-smartkarma-citation="entities:43145:1" rel="noopener">IsoEnergy (ISO CN)</a>. </li>
<li>The round-trip trade across both indices is US$824m with capping changes resulting in much bigger flow for the MVIS Global Uranium &amp; Nuclear Energy Index.</li>
</ul>


There is 1 add/delete for the MarketVector Global Uranium and Nuclear Energy Index, and no constituent changes for the MVIS Global Uranium &amp; Nuclear Energy Infrastructure Index in September.

Boss Energy (BOE AU) is an add, Encore Energy (EU US) is a delete, and there is a listing switch for IsoEnergy (ISO CN). 
The round-trip trade across both indices is US$824m with capping changes resulting in much bigger flow for the MVIS Global Uranium &amp; Nuclear Energy Index.


MV Global Uranium & Nuclear Energy/Infra Index Rebalance: Changes Lead to US$824m Trade

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>In 2025, the NPS could purchase significant amounts of Korean stocks (at least 25 trillion won) which could act as support in the domestic stock market. </li>
<li>At the end of September 2024, NPS's domestic stock portfolio was 12.7% of its total assets, a 2.2% lower than NPS's domestic stocks target at the end of 2025 (14.9%).</li>
<li>The top five net purchases by the NPS and local pension funds of Korean stocks in the past one month include Samsung Electronics, Kakao, SK Innovation, Hyundai Motor, and SEMCO.</li>
</ul>


In 2025, the NPS could purchase significant amounts of Korean stocks (at least 25 trillion won) which could act as support in the domestic stock market. 
At the end of September 2024, NPS's domestic stock portfolio was 12.7% of its total assets, a 2.2% lower than NPS's domestic stocks target at the end of 2025 (14.9%).
The top five net purchases by the NPS and local pension funds of Korean stocks in the past one month include Samsung Electronics, Kakao, SK Innovation, Hyundai Motor, and SEMCO.


NPS: Portfolio Rebalance Could Lead to Buying At Least 25 Trillion Won in Korean Stocks in 2025

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Aug 28th. The aggregated short interest was USD19.4bn.</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 KEPCO E&amp;C, Silicon2, HyundaiEng&amp;Const, Hyundai Motor, Doosan Enerbility.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 28th. The aggregated short interest was USD19.4bn.
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 KEPCO E&amp;C, Silicon2, HyundaiEng&amp;Const, Hyundai Motor, Doosan Enerbility.


KRX Short Interest Weekly (Aug 28th): KEPCO E&C, Silicon2, HyundaiEng&Const, Hyundai Motor

South Korea

KEPCO Engineering & Construction Company, Inc. designs nuclear and conventionally-fueled electricity generating plants.  The Company also provides power plant engineering services and consulting services to power industry.

Kepco Engineering & Construction (052690 KS)

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Kepco Engineering & Construction (052690 KS)

KRX Short Interest Weekly (Sep 18th): SK Hynix, DB HiTek, SIMMTECH, JEL, Samsung Elec (PREF)

We analyzed KRX short interest report for the past week and highlighted short interest changes in SK Hynix, DB HiTek, SIMMTECH, JEL, Samsung Elec...

Ke Yan, CFA, FRM

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

MV Global Uranium & Nuclear Energy/Infra Index Rebalance: Changes Lead to US$824m Trade

Boss Energy replaces Encore Energy in the NLR ETF. The round-trip trade across NLR and NUCL is US$824m. IsoEnergy's inclusion in the indices shifts...

Brian Freitas

NPS: Portfolio Rebalance Could Lead to Buying At Least 25 Trillion Won in Korean Stocks in 2025

In 2025, the NPS could purchase significant amounts of Korean stocks (at least 25 trillion won) which could act as support in the domestic stock...

Douglas Kim

KRX Short Interest Weekly (Aug 28th): KEPCO E&C, Silicon2, HyundaiEng&Const, Hyundai Motor

We analyzed KRX short interest report for the past week and highlighted short interest changes in KEPCO E&C, Silicon2, HyundaiEng&Const, Hyundai...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)