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 foreign holdings of KRX stocks as of Sep 4th. The aggregated holding was USD1,642.8bn.</li>
<li>We estimate that foreign flows to be outflows of USD2,855mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in SK Hynix, Woori Financial, Samsung Electronics, Samsung Elec (PREF), Samsung SDI.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Sep 4th. The aggregated holding was USD1,642.8bn.
We estimate that foreign flows to be outflows of USD2,855mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, Woori Financial, Samsung Electronics, Samsung Elec (PREF), Samsung SDI.


KRX Foreign Holding Weekly (Sep 4th): SK Hynix, Woori Financial, Samsung Electronics, Samsung SDI

Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Founder & Head of Research

Fortress Hill Advisors

Founded in Hong Kong in 2019, Fortress Hill Advisor seeks to provide premium economic and financial researches.

Premium Economic & Investment Research

Thematic (Sector/Industry)

<ul>
<li>Recent improvements in solar and battery technologies have been driven by advances in materials science, manufacturing techniques, and system efficiency.</li>
<li>Solid-State batteries replace the liquid electrolyte in traditional lithium-ion batteries with a solid electrolyte, energy density, and charging speeds. They are seen as a game-changer, especially for electric vehicles.</li>
<li>Both solar and battery technologies are becoming cheaper, making renewable energy more accessible and economically viable.</li>
</ul>


Recent improvements in solar and battery technologies have been driven by advances in materials science, manufacturing techniques, and system efficiency.
Solid-State batteries replace the liquid electrolyte in traditional lithium-ion batteries with a solid electrolyte, energy density, and charging speeds. They are seen as a game-changer, especially for electric vehicles.
Both solar and battery technologies are becoming cheaper, making renewable energy more accessible and economically viable.


Improvement in Solar and Battery Technology

<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 KEPCO, LG Display, SK Hynix, LG Energy Solution, SKSQUARE, POSCO INTERNATIONAL, Samsung Electronics, ECOPROBM.</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 KEPCO, LG Display, SK Hynix, LG Energy Solution, SKSQUARE, POSCO INTERNATIONAL, Samsung Electronics, ECOPROBM.


MS-South Korea Index Earning Revision (Aug): KEPCO, LG Display, SK Hynix, LG Energy Solution

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

<ul>
<li>One year after June 30, 2023, only 18% more of total battery capacities were added in US, below EU's 26% more added over the same period;</li>
<li>Chinese companies have largely shunned away from US investments, contributing only 8.7% of total. Most Chinese investments are in the mineral, instead of cell and package segments;</li>
<li>Envision/AESC alone contributed 2/3 of Chinese investments in US and is the only Chinese company investing in the cell segment.None invests in the package segment.</li>
</ul>


One year after June 30, 2023, only 18% more of total battery capacities were added in US, below EU's 26% more added over the same period;
Chinese companies have largely shunned away from US investments, contributing only 8.7% of total. Most Chinese investments are in the mineral, instead of cell and package segments;
Envision/AESC alone contributed 2/3 of Chinese investments in US and is the only Chinese company investing in the cell segment.None invests in the package segment.


US Battery and Solar Investments, One Year After, Part I

<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

LG Energy Solution produces and sells batteries. The Company manufactures and sells automobile batteries, small batteries, energy storage system batteries, and other products. LG Energy Solution markets its products worldwide.

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LG Energy Solution (373220 KS)

KRX Foreign Holding Weekly (Sep 4th): SK Hynix, Woori Financial, Samsung Electronics, Samsung SDI

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Woori Financial, Samsung Electronics,...

Ke Yan, CFA, FRM

Improvement in Solar and Battery Technology

Advances in materials science and manufacturing are driving improvements in solar and battery technologies, making renewable energy more...

Alex Ng

MS-South Korea Index Earning Revision (Aug): KEPCO, LG Display, SK Hynix, LG Energy Solution

We analyzed MS-South Korea's consensus for Aug 2026 and highlighted changes of EPS in KEPCO, LG Display, SK Hynix, LG Energy Solution, SKSQUARE,...

Ke Yan, CFA, FRM

US Battery and Solar Investments, One Year After, Part I

We view the US having a vigorous and healthy battery reshoring initiative. contributed by battery's relatively flat supply chain and the technology...

Blue Lotus Research Institute

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

KRX Foreign Holding Weekly (Sep 4th): SK Hynix, Woori Financial, Samsung Electronics, Samsung SDI

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Woori Financial, Samsung Electronics,...

Ke Yan, CFA, FRM

Improvement in Solar and Battery Technology

​Advances in materials science and manufacturing are driving improvements in solar and battery technologies, making renewable energy more...

Alex Ng

MS-South Korea Index Earning Revision (Aug): KEPCO, LG Display, SK Hynix, LG Energy Solution

We analyzed MS-South Korea's consensus for Aug 2026 and highlighted changes of EPS in KEPCO, LG Display, SK Hynix, LG Energy Solution, SKSQUARE,...

Ke Yan, CFA, FRM

US Battery and Solar Investments, One Year After, Part I

We view the US having a vigorous and healthy battery reshoring initiative. contributed by battery's relatively flat supply chain and the technology...

Blue Lotus Research Institute

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

Advances in materials science and manufacturing are driving improvements in solar and battery technologies, making renewable energy more...