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

Event-Driven

Korea Stock Exchange KOSPI 200 / Event-Driven

Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

<ul>
<li>Korea banned all short selling in March 2020 and resumed short selling only on <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">KOSPI 200</a> and <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150</a> index constituents in May 2021.</li>
<li>News reports indicate that there could be another short sell ban as soon as the coming week. Indications are that the ban could last 6 months.</li>
<li>There are many implications of a total short sell ban including futures backwardation, market manipulation, and no emerging to developed market promotion.</li>
</ul>


Korea banned all short selling in March 2020 and resumed short selling only on KOSPI 200 and KOSDAQ 150 index constituents in May 2021.
News reports indicate that there could be another short sell ban as soon as the coming week. Indications are that the ban could last 6 months.
There are many implications of a total short sell ban including futures backwardation, market manipulation, and no emerging to developed market promotion.


Korea Short Sell Ban: Background, Manipulation, Holdings, Flows, Short Interest, Implications

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

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

Korea Stock Exchange KOSPI 200 / Equity Derivatives

<ul>
<li>After 2 consecutive weekly negative closes the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">KOSPI 200 INDEX</a> has probably reached a bottom last week, according to our model.</li>
<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> should list its ADRs on the Nasdaq on July 10, 2026, and the ripple effect of this event should lift the Kospi 200 Index.</li>
<li>
<a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> preliminary Q2 Earnings due on Monday should boost Samsung buyers and, in turn, this should also help the Kospi 200 Index rally.</li>
</ul>


After 2 consecutive weekly negative closes the KOSPI 200 INDEX has probably reached a bottom last week, according to our model.

SK Hynix (000660 KS) should list its ADRs on the Nasdaq on July 10, 2026, and the ripple effect of this event should lift the Kospi 200 Index.

Samsung Electronics (005930 KS) preliminary Q2 Earnings due on Monday should boost Samsung buyers and, in turn, this should also help the Kospi 200 Index rally.


KOSPI 200 Tactical Outlook Ahead of SK Hynix US ADR Listing/Samsung Earnings

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>Kospi turnover and derivatives activity remained exceptionally strong as the index pushed to new all-time highs during May.</li>
<li>Kospi breadth and concentration metrics remain concerning despite strong headline index performance and continued bullish sentiment.</li>
<li>Several longer-term volatility relationships appear stretched as implied vols continue to rise alongside aggressive upside participation.</li>
</ul>


Kospi turnover and derivatives activity remained exceptionally strong as the index pushed to new all-time highs during May.
Kospi breadth and concentration metrics remain concerning despite strong headline index performance and continued bullish sentiment.
Several longer-term volatility relationships appear stretched as implied vols continue to rise alongside aggressive upside participation.


Kospi Index Options Monthly June 2026: Record Highs, Rising Vols, and Increasing Concentration

<ul>
<li>Most markets delivered strong May returns with three reaching 52-week highs while implied volatility trends continued to diverge considerably.</li>
<li>Kospi remained the dominant volatility story with another extreme monthly move driving implied vols sharply higher relative to global peers.</li>
<li>Historical June trends across most markets show strength concentrated early in the month followed by weaker performance into month end.</li>
</ul>


Most markets delivered strong May returns with three reaching 52-week highs while implied volatility trends continued to diverge considerably.
Kospi remained the dominant volatility story with another extreme monthly move driving implied vols sharply higher relative to global peers.
Historical June trends across most markets show strength concentrated early in the month followed by weaker performance into month end.


Macro Monthly June 2026: Broad Market Strength Masks Sharp Volatility Divergence

Equity/Index & Cross Asset Volatility Specialist, Cameron Design

Jay Cameron

Equity/Index & Cross Asset Volatility Specialist

Cameron Design

We specialize in financial products and volatility. Our strategies balance speed, data, and risk control to capture opportunities across global markets. Our research leverages AI and data analytics to continuously refine our algorithms and adapt to evolving market dynamics.

<ul>
<li>The KOSPI 200's strong performance is highly concentrated in AI Memory Semiconductor stocks, suggesting the need for a protective measure against sector-specific volatility.</li>
<li>An impending labor strike at Samsung Electronics poses a short term risk complicating calculations regarding the current geopolitical environment.  The strike may reduce Korea’s GDP, which warrants downside portfolio protection.</li>
<li>Rising imported inflation due to the Iran oil crisis and local sector overexposure suggest current long positions could benefit from the volatility strategy.</li>
</ul>


The KOSPI 200's strong performance is highly concentrated in AI Memory Semiconductor stocks, suggesting the need for a protective measure against sector-specific volatility.
An impending labor strike at Samsung Electronics poses a short term risk complicating calculations regarding the current geopolitical environment.  The strike may reduce Korea’s GDP, which warrants downside portfolio protection.
Rising imported inflation due to the Iran oil crisis and local sector overexposure suggest current long positions could benefit from the volatility strategy.


KOSPI 200 Volatility Trade: Hedging AI Memory Concentration Risk Ahead of the Samsung Strike

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.

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Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

Korea Short Sell Ban: Background, Manipulation, Holdings, Flows, Short Interest, Implications

Media reports indicate that there could be a temporary short sell ban in Korea. This could lead to futures backwardation, market manipulation and a...

Brian Freitas

KOSPI 200 Tactical Outlook Ahead of SK Hynix US ADR Listing/Samsung Earnings

The KOSPI 200 Index likely hit bottom last week. SK Hynix listing ADRs on Nasdaq and Samsung's Q2 earnings could boost the rally from Monday,...

Nico Rosti

Kospi Index Options Monthly June 2026: Record Highs, Rising Vols, and Increasing Concentration

Strong upside momentum, rising implied vols and deteriorating breadth created a very different market backdrop beneath the Kospi’s headline strength.

John Ley

Macro Monthly June 2026: Broad Market Strength Masks Sharp Volatility Divergence

May’s strong market backdrop masked substantial differences in implied volatility behavior, with June seasonals suggesting a softer second half of...

John Ley

KOSPI 200 Volatility Trade: Hedging AI Memory Concentration Risk Ahead of the Samsung Strike

KOSPI 200: With impending labor strike at Samsung Electronics posing short term risk. Rising imported inflation and concentrated sector exposure...

Jay Cameron

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Korea Short Sell Ban: Background, Manipulation, Holdings, Flows, Short Interest, Implications

Media reports indicate that there could be a temporary short sell ban in Korea. This could lead to futures backwardation, market manipulation and a...

Brian Freitas

KOSPI 200 Tactical Outlook Ahead of SK Hynix US ADR Listing/Samsung Earnings

​The KOSPI 200 Index likely hit bottom last week. SK Hynix listing ADRs on Nasdaq and Samsung's Q2 earnings could boost the rally from Monday,...

Nico Rosti

Kospi Index Options Monthly June 2026: Record Highs, Rising Vols, and Increasing Concentration

Strong upside momentum, rising implied vols and deteriorating breadth created a very different market backdrop beneath the Kospi’s headline strength.

John Ley

Macro Monthly June 2026: Broad Market Strength Masks Sharp Volatility Divergence

May’s strong market backdrop masked substantial differences in implied volatility behavior, with June seasonals suggesting a softer second half of...

John Ley

KOSPI 200 Volatility Trade: Hedging AI Memory Concentration Risk Ahead of the Samsung Strike

KOSPI 200: With impending labor strike at Samsung Electronics posing short term risk. Rising imported inflation and concentrated sector exposure...

Jay Cameron

The KOSPI 200 Index likely hit bottom last week. SK Hynix listing ADRs on Nasdaq and Samsung's Q2 earnings could boost the rally from Monday,...