Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

Korea Investment Holdings Co, Ltd. / Event-Driven

Korea Investment Holdings Co, Ltd. (071050 KS)

<ul>
<li>Korea Investment Partners (KIP) has made a home run investment in Anthropic. Korea Investment Holdings Co, Ltd. (071050 KS) owns a 100% stake in Korea Investment Partners</li>
<li>Assuming a 50% share dilution from its original investment in August 2024 ($10 million), KIP's stake in Anthropic would reach $555 million (if Anthropic is valued at $2 trillion).</li>
<li>Korea Investment Holdings Co, Ltd. (071050 KS) has a market cap of 10.4 trillion won, so this would be 7.4% of its market cap. </li>
</ul>


Korea Investment Partners (KIP) has made a home run investment in Anthropic. Korea Investment Holdings Co, Ltd. (071050 KS) owns a 100% stake in Korea Investment Partners
Assuming a 50% share dilution from its original investment in August 2024 ($10 million), KIP's stake in Anthropic would reach $555 million (if Anthropic is valued at $2 trillion).
Korea Investment Holdings Co, Ltd. (071050 KS) has a market cap of 10.4 trillion won, so this would be 7.4% of its market cap. 


Korea Investment Partners - A Home Run Investment in Anthropic

Cross Asset Strategy

<ul>
<li>Now that Lee Jae-Myung has become new South Korean President, the uncertainty revolving who will lead South Korea in the next five years is now over.</li>
<li>In this insight, we discuss four investment themes (related to Lee Jae-Myung becoming the new South Korean President) that could outperform the market for the remainder of 2025.</li>
<li>The four investment themes include Korean Holdcos/Quasi Holdcos, Korean Cultural Contents, Securities, and SK Group Companies.</li>
</ul>


Now that Lee Jae-Myung has become new South Korean President, the uncertainty revolving who will lead South Korea in the next five years is now over.
In this insight, we discuss four investment themes (related to Lee Jae-Myung becoming the new South Korean President) that could outperform the market for the remainder of 2025.
The four investment themes include Korean Holdcos/Quasi Holdcos, Korean Cultural Contents, Securities, and SK Group Companies.


Lee Jae-Myung Becomes the New South Korean President - Four Investment Themes That Could Outperform

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

iShares MSCI ACWI ETF / Technical Analysis

<ul>
<li>With the MSCI ACWI (ACWI-US) approaching the top-end of our expected 2023 trading range at $93, we see limited upside from here, and we believe caution is warranted.</li>
<li>We want to remain overweight Europe and the UK, but we prefer to buy only on pullbacks.</li>
<li>The Hang Seng and MSCI China (MCHI-US) are both getting rejected at their important resistances discussed last week, and we would expect to see a basing process develop below resistance.</li>
</ul>


With the MSCI ACWI (ACWI-US) approaching the top-end of our expected 2023 trading range at $93, we see limited upside from here, and we believe caution is warranted.
We want to remain overweight Europe and the UK, but we prefer to buy only on pullbacks.
The Hang Seng and MSCI China (MCHI-US) are both getting rejected at their important resistances discussed last week, and we would expect to see a basing process develop below resistance.


Caution Warranted; ACWI-US At $93 Resistance; Buys in Communications, Staples, Materials, Financials

<ul>
<li>Daishin Securities announced that it will cancel 15.35 million treasury shares and pay its first tax-free dividend. This represents 18.4% and 16.8% of outstanding common and preferred shares, respectively. </li>
<li>The company will also pay tax-free dividends. This will be implemented over approximately four years, starting this year, with a limit of 400 billion won.</li>
<li><em><strong>This is the MOST SIGNIFICANT shareholder return program announced by Daishin Securities since its founding in 1962.</strong></em></li>
</ul>


Daishin Securities announced that it will cancel 15.35 million treasury shares and pay its first tax-free dividend. This represents 18.4% and 16.8% of outstanding common and preferred shares, respectively. 
The company will also pay tax-free dividends. This will be implemented over approximately four years, starting this year, with a limit of 400 billion won.
This is the MOST SIGNIFICANT shareholder return program announced by Daishin Securities since its founding in 1962.


Daishin Securities: The Most Significant Shareholder Return Program Announced Since Its Founding

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 SK Hynix, Samsung Electronics, KB Financial, Hana Financial, KIH, LG Chem, SK Innovation, LG Energy Solution.</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 SK Hynix, Samsung Electronics, KB Financial, Hana Financial, KIH, LG Chem, SK Innovation, LG Energy Solution.


MS-South Korea Index Earning Revision (Sep): SK Hynix, Samsung Electronics, KB Financial, KIH

South Korea

Korea Investment Holdings Co., Ltd. is a financial holding company. The Company operates and controls its financial subsidiaries such as Korea Investment & Securities, Korea Investment Partners, and Korea Investment Mutual Savings Bank.

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Korea Investment Holdings Co, Ltd. (071050 KS)

Korea Investment Partners - A Home Run Investment in Anthropic

Korea Investment Partners (KIP) has made a home run investment in Anthropic. Korea Investment Holdings Co, Ltd. (071050 KS) owns a 100% stake in...

Douglas Kim

Lee Jae-Myung Becomes the New South Korean President - Four Investment Themes That Could Outperform

In this insight, we discuss four investment themes (related to Lee Jae-Myung becoming the new South Korean President) that could outperform the...

Douglas Kim

Caution Warranted; ACWI-US At $93 Resistance; Buys in Communications, Staples, Materials, Financials

With the MSCI $ACWI approaching the top-end of our expected 2023 trading range at $93, we see limited upside from here and believe caution is...

Vermilion Research

Daishin Securities: The Most Significant Shareholder Return Program Announced Since Its Founding

Daishin Securities announced that it will cancel 15.35 million treasury shares. This represents 18.4% and 16.8% of outstanding common and preferred...

Douglas Kim

MS-South Korea Index Earning Revision (Sep): SK Hynix, Samsung Electronics, KB Financial, KIH

We analyzed MS-South Korea's consensus for Sep 2026 and highlighted changes of EPS in SK Hynix, Samsung Electronics, KB Financial, Hana Financial,...

Ke Yan, CFA, FRM

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