Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Quantitative Analysis

<ul>
<li>In this insight, we provide the data analysis regarding most shorted stocks and short selling ratios for stocks in KOSPI. </li>
<li>Among these 20 most shorted stocks in KOSPI, the % changes in the short amount on a one week and one month basis were -0.2% and 6.4%, respectively.</li>
<li>Among these 20 most shorted stocks in KOSPI, three stocks with the biggest decline in shorts on a one month basis included Krafton, Kumho Petro Chemical, and Samsung Heavy Industries. </li>
</ul>


In this insight, we provide the data analysis regarding most shorted stocks and short selling ratios for stocks in KOSPI. 
Among these 20 most shorted stocks in KOSPI, the % changes in the short amount on a one week and one month basis were -0.2% and 6.4%, respectively.
Among these 20 most shorted stocks in KOSPI, three stocks with the biggest decline in shorts on a one month basis included Krafton, Kumho Petro Chemical, and Samsung Heavy Industries. 


Korea Short Selling Data Analysis: Celltrion, Amorepacific, Hotel Shilla, & Hanssem

Event-Driven

<ul>
<li>After the market close on 8 March, Kumho Petro Chemical (011780 KS) announced major share buyback, dividends, and investment plans.</li>
<li>Kumho Petrochem's share price has nearly halved since its 52 week highs in May 2021. </li>
<li>The company's efforts to buyback shares and cancel them (about 3% of outstanding shares) as well as higher dividends are likely to reverse this share price decline.</li>
</ul>


After the market close on 8 March, Kumho Petro Chemical (011780 KS) announced major share buyback, dividends, and investment plans.
Kumho Petrochem's share price has nearly halved since its 52 week highs in May 2021. 
The company's efforts to buyback shares and cancel them (about 3% of outstanding shares) as well as higher dividends are likely to reverse this share price decline.


Kumho Petrochem: Share Buyback, Cancellations, & Higher Dividends

<ul>
<li>Kumho Petro Chem's price rose by 9.3% to 164,000 won on 9 February due to a renewed potential M&amp;A fight between Park Chul-Wan (nephew) and his uncle Park Chan-Koo (uncle).</li>
<li>It was announced that Park Chul Wan had sent a shareholder proposal ahead of next month's AGM, recommending candidates to replace outside directors.</li>
<li>The sharp decline in share price of the company in the past 8 months is likely to encourage some minority shareholders to demand more changes in the company.</li>
</ul>


Kumho Petro Chem's price rose by 9.3% to 164,000 won on 9 February due to a renewed potential M&amp;A fight between Park Chul-Wan (nephew) and his uncle Park Chan-Koo (uncle).
It was announced that Park Chul Wan had sent a shareholder proposal ahead of next month's AGM, recommending candidates to replace outside directors.
The sharp decline in share price of the company in the past 8 months is likely to encourage some minority shareholders to demand more changes in the company.


Kumho Petrochemical: Restart of the M&A Fight Between Uncle and Nephew

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

<ul>
<li>It has been an interesting year and short interest has varied a lot across countries, sectors and stocks. We look at changes in Hong Kong, Japan, Korea and Taiwan.</li>
<li>Shorts have soared in Korea following the resumption of short selling, while short interest has increased in the other countries too.</li>
<li>Ping An Insurance and BYD had the biggest short covering, while China Merchants Bank saw the largest increase in shorts over the year.</li>
</ul>


It has been an interesting year and short interest has varied a lot across countries, sectors and stocks. We look at changes in Hong Kong, Japan, Korea and Taiwan.
Shorts have soared in Korea following the resumption of short selling, while short interest has increased in the other countries too.
Ping An Insurance and BYD had the biggest short covering, while China Merchants Bank saw the largest increase in shorts over the year.


Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

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

<ul>
<li>Another thing to consider in strategic trades aimed at the buying trend for yearend dividend hunting is the ₩1B majority shareholder transfer tax-triggered selling trend.</li>
<li>But the degree of direct conflict between the buying force targeting dividends and this factor at the point close to the ex-dividend date should not be as large as expected.</li>
<li>Considering a gradual preemptive sale of yearend tax evasion until the ex-dividend, we should consider shortening the trading time frame of the yearend dividend play close to the ex-dividend.</li>
</ul>


Another thing to consider in strategic trades aimed at the buying trend for yearend dividend hunting is the ₩1B majority shareholder transfer tax-triggered selling trend.
But the degree of direct conflict between the buying force targeting dividends and this factor at the point close to the ex-dividend date should not be as large as expected.
Considering a gradual preemptive sale of yearend tax evasion until the ex-dividend, we should consider shortening the trading time frame of the yearend dividend play close to the ex-dividend.


Yearend Dividend-Hunt Buying Vs. Majority Shareholder Transfer Tax-Triggered Selling

South Korea

Kumho Petrochemical Co., Ltd. manufactures synthetic rubbers, synthetic resins, and rubber chemicals.  The Company's products include styrene butadiene, acrylonitrile butadiene, polystyrene, expandable polystyrene, and antioxidant.  Kumho Petrochemical provides construction, transportation, and financial services through its subsidiaries.

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Kumho Petro Chemical (011780 KS)

Korea Short Selling Data Analysis: Celltrion, Amorepacific, Hotel Shilla, & Hanssem

Among these 20 most shorted stocks in KOSPI, the % changes in the short amount on a one week and one month basis were -0.2% and 6.4%, respectively.

Douglas Kim

Kumho Petrochemical: Restart of the M&A Fight Between Uncle and Nephew

The fight for Kumho Petrochemical between Park Chan-Koo (uncle) and Park Chul-Wan (nephew) is likely to become heated once again this year.

Douglas Kim

Asia: The Year in Shorts

There have been large increases and decreases in short interest on stocks across HK, Japan, Korea and Taiwan over the year. We look at the biggest...

Brian Freitas

Yearend Dividend-Hunt Buying Vs. Majority Shareholder Transfer Tax-Triggered Selling

This post looks at the yearend dividend-hunt buying versus the ₩1B majority shareholder transfer tax-triggered selling trend.

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Korea Short Selling Data Analysis: Celltrion, Amorepacific, Hotel Shilla, & Hanssem

Among these 20 most shorted stocks in KOSPI, the % changes in the short amount on a one week and one month basis were -0.2% and 6.4%, respectively.

Douglas Kim

Kumho Petrochem: Share Buyback, Cancellations, & Higher Dividends

Kumho Petrochem's efforts to buyback shares and cancel them (about 3% of outstanding shares) as well as higher dividends are likely to reverse its...

Douglas Kim

Kumho Petrochemical: Restart of the M&A Fight Between Uncle and Nephew

The fight for Kumho Petrochemical between Park Chan-Koo (uncle) and Park Chul-Wan (nephew) is likely to become heated once again this year.

Douglas Kim

Asia: The Year in Shorts

There have been large increases and decreases in short interest on stocks across HK, Japan, Korea and Taiwan over the year. We look at the biggest...

Brian Freitas

Yearend Dividend-Hunt Buying Vs. Majority Shareholder Transfer Tax-Triggered Selling

This post looks at the yearend dividend-hunt buying versus the ₩1B majority shareholder transfer tax-triggered selling trend.

Sanghyun Park