Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7 stocks.</li>
<li>We provide seven major reasons why Koreans' investments in the US stocks (especially MAG7) have been surging in the past several years. </li>
<li>When will they sell? We provide some clues on this.</li>
</ul>


In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7 stocks.
We provide seven major reasons why Koreans' investments in the US stocks (especially MAG7) have been surging in the past several years. 
When will they sell? We provide some clues on this.


7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

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.

Equity Capital Markets

<ul>
<li>Nscale, an AI infrastructure and GPU cloud provider, has filed its registration statement with the SEC for a NYSE listing. GS, JPM and MS are the lead bookrunners.</li>
<li>We look at the company's core products: Nscale Infrastructure and Nscale Cloud.</li>
<li>We then look at the company's financial profile, loss-making status, pre-IPO valuation and investor backing.</li>
</ul>


Nscale, an AI infrastructure and GPU cloud provider, has filed its registration statement with the SEC for a NYSE listing. GS, JPM and MS are the lead bookrunners.
We look at the company's core products: Nscale Infrastructure and Nscale Cloud.
We then look at the company's financial profile, loss-making status, pre-IPO valuation and investor backing.


Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>The dispute between <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> management and the labor union has been resolved; thus, production halt risks have been avoided at a critical time.</li>
<li>Paying 50% of the bonus pool in treasury shares allows SK Hynix to retain billions in cash compared to paying 100% in cash. </li>
<li>The investment thesis remains intact with major hyperscalers locked into multi-year contracts with Sk Hynix while PER remains at 6x. </li>
</ul>


The dispute between SK Hynix (000660 KS) management and the labor union has been resolved; thus, production halt risks have been avoided at a critical time.
Paying 50% of the bonus pool in treasury shares allows SK Hynix to retain billions in cash compared to paying 100% in cash. 
The investment thesis remains intact with major hyperscalers locked into multi-year contracts with Sk Hynix while PER remains at 6x. 


SK Hynix (000660): Dispute Resolved, Cash Intact.

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Thematic (Sector/Industry)

<ul>
<li>Engineering work continues on the 14A, but further capacity expansion is on hold until a major external customer commits.</li>
<li>CEO Lip-Bu Tan is prioritising balance sheet strength and shareholder returns after years of aggressive capex.</li>
<li>Intel would only expand PPE upon firm commitments, ensuring any new foundry capacity is tied to revenue certainty.</li>
</ul>


Engineering work continues on the 14A, but further capacity expansion is on hold until a major external customer commits.
CEO Lip-Bu Tan is prioritising balance sheet strength and shareholder returns after years of aggressive capex.
Intel would only expand PPE upon firm commitments, ensuring any new foundry capacity is tied to revenue certainty.


Is 14A on the Chopping Block, or Is Intel Raising the Stakes for a Whale

Podcast On the Business of Semiconductors, The Circuit

The Circuit

Podcast On the Business of Semiconductors

A Podcast On the Business of Semiconductors. With Jay Goldberg and Ben Bajarin

<ul><li>Nvidia surpassed expectations in China despite challenges, indicating growth in other areas of their business</li><li>Shift from training to inference era highlighted, with focus on customers buying Nvidia systems for inference</li><li>Competition in the inference market could pose challenges for Nvidia, especially as costs grow and alternatives emerge like Google's tpu</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Nvidia surpassed expectations in China despite challenges, indicating growth in other areas of their businessShift from training to inference era highlighted, with focus on customers buying Nvidia systems for inferenceCompetition in the inference market could pose challenges for Nvidia, especially as costs grow and alternatives emerge like Google's tpuThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Episode 120: NVIDIA Earnings, The Future of AI inference, China AI and more

United States

Microsoft Corporation operates as a software company. The Company offers applications, extra cloud storage, and advanced security solutions. Microsoft serves customers worldwide.

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Microsoft Corp (MSFT US)

7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7...

Douglas Kim

Nscale Pre-IPO: Tearsheet

Nscale has filed its S-1 for a NYSE listing. In this tearsheet, we look at the company's business and operating profile, its industry backdrop, its...

Ke Yan, CFA, FRM

SK Hynix (000660): Dispute Resolved, Cash Intact.

The management resolved the dispute and managed to negotiate to pay 50% of the bonus in stock, thus saving some cash for capex. SK Hynix is still...

Henry Soediarko

Is 14A on the Chopping Block, or Is Intel Raising the Stakes for a Whale

Intel is focusing on financial stability and shareholder returns, delaying capacity expansion until it secures commitments from major customers.

Mint Finance

Episode 120: NVIDIA Earnings, The Future of AI inference, China AI and more

Overall, Nvidia is experiencing strong performance in the AI market, particularly in the area of inference, but faces competition and challenges in...

The Circuit

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7 Main Reasons Driving Surging Ownership into MAG7 Stocks by Korean Investors: When Will They Sell?

In this insight, we discuss the sharp capital flight out of Korea into major stocks in the US in the past several years, especially into the MAG7...

Douglas Kim

Nscale Pre-IPO: Tearsheet

Nscale has filed its S-1 for a NYSE listing. In this tearsheet, we look at the company's business and operating profile, its industry backdrop, its...

Ke Yan, CFA, FRM

SK Hynix (000660): Dispute Resolved, Cash Intact.

The management resolved the dispute and managed to negotiate to pay 50% of the bonus in stock, thus saving some cash for capex. SK Hynix is still...

Henry Soediarko

Is 14A on the Chopping Block, or Is Intel Raising the Stakes for a Whale

​Intel is focusing on financial stability and shareholder returns, delaying capacity expansion until it secures commitments from major customers.

Mint Finance

Episode 120: NVIDIA Earnings, The Future of AI inference, China AI and more

Overall, Nvidia is experiencing strong performance in the AI market, particularly in the area of inference, but faces competition and challenges in...

The Circuit

Intel is focusing on financial stability and shareholder returns, delaying capacity expansion until it secures commitments from major customers.