Derivatives and Quantitative Strategist

Gaudenz Schneider

Macroeconomics

<ul>
<li>
Australia: RBA rate decision on 1 April. Expect no change.
</li>
<li>
Japan: Nikkei 225 rebalancing effective 31 March at the close.</li>
<li>
US reciprocal tariffs will keep everyone on their toes on 2 April.</li>
</ul>



Australia: RBA rate decision on 1 April. Expect no change.


Japan: Nikkei 225 rebalancing effective 31 March at the close.

US reciprocal tariffs will keep everyone on their toes on 2 April.


Market Movers: Key Dates at a Glance (31 March- 6 April)

Equity Derivatives

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK Hynix (000660 KS)</a> gained 6.5% in September MTD, lifting the 2x Leveraged Index 12.3% and combined ETF AUM 14% to KRW 4.36tn.</li>
<li>The AUM rebound was driven primarily by performance: KODEX units rose just 1%, TIGER was broadly unchanged and the five smaller products recorded reductions.</li>
<li>Daily creations, redemptions and value traded remain subdued after collapsing at the end of July, coinciding with regulatory measures aimed at curbing retail activity in leveraged ETFs.</li>
</ul>



SK Hynix (000660 KS) gained 6.5% in September MTD, lifting the 2x Leveraged Index 12.3% and combined ETF AUM 14% to KRW 4.36tn.
The AUM rebound was driven primarily by performance: KODEX units rose just 1%, TIGER was broadly unchanged and the five smaller products recorded reductions.
Daily creations, redemptions and value traded remain subdued after collapsing at the end of July, coinciding with regulatory measures aimed at curbing retail activity in leveraged ETFs.


SK Hynix (000660 KS): 2x Leveraged ETFs Rebound, but Retail Activity Stays Subdued (9 Sep 2026)

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

<ul>
<li>WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.</li>
<li>We apply our quantitative models to each instrument's trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it.</li>
<li>
Most overbought: META, Bank of China, USO/Oil, China Construction Bank, Mitsubishi UFJ Financial. Most oversold: NeatEase Cloud Music, CATL, Samsung Electronics, Gold, Shin Etsu Chemical</li>
</ul>


WEEKLY tactical global macro recap/analysis for several markets and stocks we track, grouped by sector.
We apply our quantitative models to each instrument's trend, to determine which stocks/markets are just starting a trend, are in the middle of it, or are about to end it.

Most overbought: META, Bank of China, USO/Oil, China Construction Bank, Mitsubishi UFJ Financial. Most oversold: NeatEase Cloud Music, CATL, Samsung Electronics, Gold, Shin Etsu Chemical


WEEKLY Tactical Recap: Samsung Electronics, CATL, Tokyo Electron, Advantest Corp, Bank of China, BYD

Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

<ul>
<li>August’s sleepy performance gives way to a historically challenging September backdrop, although macro conditions may overwhelm the usual seasonal patterns.</li>
<li>CSI300 and Kospi offer sharply contrasting historical September vol premium patterns, making both assets particularly interesting this month.</li>
<li>Potential hedging opportunities emerge with historical September behaviour placing Kospi and HSI firmly among the markets worth watching.</li>
</ul>


August’s sleepy performance gives way to a historically challenging September backdrop, although macro conditions may overwhelm the usual seasonal patterns.
CSI300 and Kospi offer sharply contrasting historical September vol premium patterns, making both assets particularly interesting this month.
Potential hedging opportunities emerge with historical September behaviour placing Kospi and HSI firmly among the markets worth watching.


Macro Monthly September 2026: Volatility Setups Emerge After a Sleepy August

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sk-hynix-inc" target="_blank" data-smartkarma-citation="entities:16955:1" rel="noopener">SK hynix (000660 KS)</a> fell 3.8% in August MTD, while its 2x Leveraged Index declined 13.4% and combined KRX-listed ETF AUM fell 28% to KRW 3.8tn.</li>
<li>The seven KRX-listed 2x long ETFs recorded combined net outflows of KRW 763bn, with units outstanding declining in six products and redemptions amplifying negative performance.</li>
<li>Daily flows in the long and inverse ETFs were negatively correlated, causing associated hedge flows to reinforce rather than offset each other, although the larger long products dominate the effect.</li>
</ul>



SK hynix (000660 KS) fell 3.8% in August MTD, while its 2x Leveraged Index declined 13.4% and combined KRX-listed ETF AUM fell 28% to KRW 3.8tn.
The seven KRX-listed 2x long ETFs recorded combined net outflows of KRW 763bn, with units outstanding declining in six products and redemptions amplifying negative performance.
Daily flows in the long and inverse ETFs were negatively correlated, causing associated hedge flows to reinforce rather than offset each other, although the larger long products dominate the effect.


SK Hynix (000660 KS): 2x Leveraged ETF Redemptions Compound 13% August Index Loss

South Korea

The KOSPI 200 Index is a capitalization-weighted index of 200 Korean stocks which make up 93% of the total market value of the Korea Stock Exchange. The index was developed with a base value of 100 as of January 3, 1990.

Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

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

Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

Market Movers: Key Dates at a Glance (31 March- 6 April)

RBA expected to keep rates steady, Nikkei 225 rebalancing in Japan, India shifting its option expiration day, Exchange Holidays in India and...

Gaudenz Schneider

SK Hynix (000660 KS): 2x Leveraged ETFs Rebound, but Retail Activity Stays Subdued (9 Sep 2026)

Combined AUM in 2x leveraged ETFs linked to SK hynix (000660 KS) rebounded 14% in September MTD, driven mainly by performance, while flows and...

Gaudenz Schneider

WEEKLY Tactical Recap: Samsung Electronics, CATL, Tokyo Electron, Advantest Corp, Bank of China, BYD

Weekly Global Macro Tactical Recap: our models tracks trends across asset classes to highlight overbought/oversold market conditions across Asian...

Nico Rosti

Macro Monthly September 2026: Volatility Setups Emerge After a Sleepy August

August’s quiet returns lead into a challenging September setup, where CSI300 and Kospi diverge and HSI offers potential hedging opportunities.

John Ley

SK Hynix (000660 KS): 2x Leveraged ETF Redemptions Compound 13% August Index Loss

Daily flows in SK hynix (000660 KS) 2x long and inverse ETFs were negatively correlated, aligning associated hedge flows and reinforcing pressure...

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Market Movers: Key Dates at a Glance (31 March- 6 April)

​RBA expected to keep rates steady, Nikkei 225 rebalancing in Japan, India shifting its option expiration day, Exchange Holidays in India and...

Gaudenz Schneider

SK Hynix (000660 KS): 2x Leveraged ETFs Rebound, but Retail Activity Stays Subdued (9 Sep 2026)

Combined AUM in 2x leveraged ETFs linked to SK hynix (000660 KS) rebounded 14% in September MTD, driven mainly by performance, while flows and...

Gaudenz Schneider

WEEKLY Tactical Recap: Samsung Electronics, CATL, Tokyo Electron, Advantest Corp, Bank of China, BYD

Weekly Global Macro Tactical Recap: our models tracks trends across asset classes to highlight overbought/oversold market conditions across Asian...

Nico Rosti

Macro Monthly September 2026: Volatility Setups Emerge After a Sleepy August

August’s quiet returns lead into a challenging September setup, where CSI300 and Kospi diverge and HSI offers potential hedging opportunities.

John Ley

SK Hynix (000660 KS): 2x Leveraged ETF Redemptions Compound 13% August Index Loss

Daily flows in SK hynix (000660 KS) 2x long and inverse ETFs were negatively correlated, aligning associated hedge flows and reinforcing pressure...

Gaudenz Schneider

RBA expected to keep rates steady, Nikkei 225 rebalancing in Japan, India shifting its option expiration day, Exchange Holidays in India and...