Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Cross Asset Strategy

<ul>
<li>KRX is expected to announce the KOSDAQ150 rebalance in the next couple of weeks. </li>
<li>An alpha generating trading strategy would be to focus on companies with higher probability of getting deleted in the next round of KOSDAQ rebalance in December.  </li>
<li>These 15 companies are those among the bottom 30 market cap in KOSDAQ150 that are ranked number 16 to 30 in terms of combined market cap and trading value range. </li>
</ul>


KRX is expected to announce the KOSDAQ150 rebalance in the next couple of weeks. 
An alpha generating trading strategy would be to focus on companies with higher probability of getting deleted in the next round of KOSDAQ rebalance in December.  
These 15 companies are those among the bottom 30 market cap in KOSDAQ150 that are ranked number 16 to 30 in terms of combined market cap and trading value range. 


Alpha Generating Trading Strategy of KOSDAQ150 Deletions & Additions in June 2022

The Korea Exchange announced its KOSDAQ150 and KRX300 indices rebalances today. There were 17 new additions and 17 deletions for KOSDAQ150. Most of the stocks that were expected to be included in KOSDAQ 150 were officially included in the rebalance. However there were a few surprises. For example <a href="https://www.smartkarma.com/entities/nanos-co-ltd" target="_blank" data-smartkarma-citation="entities:16796:1" rel="noopener">Nanos Co Ltd (151910 KS),</a>which was one of the stocks that was expected to be included in KOSDAQ150, did not get included in this indext this time. On the other hand, the following stocks including <a href="https://www.smartkarma.com/entities/sang-a-frontec-co-ltd" target="_blank" data-smartkarma-citation="entities:20692:1" rel="noopener">Sang A Frontec (089980 KS)</a>, Novarex (194700 KS(, CIS (222080 KS), MedPacto (215980 KS), <a href="https://www.smartkarma.com/entities/koreacenter-com-co-ltd" target="_blank" data-smartkarma-citation="entities:28329:1" rel="noopener">Koreacenter.com Co Ltd (290510 KS)</a>, and Soulbrain (357780 KS) which were not on the top of the lists of getting selected into the KOSDAQ150 index by the locals, were formally selected be part of the new KOSDAQ150 inclusions.  The Korea Exchange also made changes to the KRX300 index. Although the KRX300 index is not currently as important as KOSPI200 and KOSDAQ150 indices, it is increasingly gaining in importance among the local institutional investors. The KRX300 had 33 new additions and 35 deletions.

The Korea Exchange announced its KOSDAQ150 and KRX300 indices rebalances today. There were 17 new additions and 17 deletions for KOSDAQ150. Most of the stocks that were expected to be included in KOSDAQ 150 were officially included in the rebalance. However there were a few surprises. For example Nanos Co Ltd (151910 KS),which was one of the stocks that was expected to be included in KOSDAQ150, did not get included in this indext this time. On the other hand, the following stocks including Sang A Frontec (089980 KS), Novarex (194700 KS(, CIS (222080 KS), MedPacto (215980 KS), Koreacenter.com Co Ltd (290510 KS), and Soulbrain (357780 KS) which were not on the top of the lists of getting selected into the KOSDAQ150 index by the locals, were formally selected be part of the new KOSDAQ150 inclusions.  The Korea Exchange also made changes to the KRX300 index. Although the KRX300 index is not currently as important as KOSPI200 and KOSDAQ150 indices, it is increasingly gaining in importance among the local institutional investors. The KRX300 had 33 new additions and 35 deletions. 

KOSDAQ150 and KRX300 Indices Rebalances (Overlapping Additions & Deletions)

Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Thematic (Sector/Industry)

Netmarble Games is said to have joined the bid for "Playtika". This deal is believed to go as high as USD4bil. Netmarble already submitted a LOI. Playtika is expected to select the preferred bidder within this month.Playtika is a SNS based gambling game company that currently offers a variety of casino-related mobile games. It is headquartered in Israel and was acquired by Caesars Entertainment Corp. at USD100mil in 2011.Surely, Playtika is one of the hottest game companies in the world with…

Netmarble Games is said to have joined the bid for "Playtika". This deal is believed to go as high as USD4bil. Netmarble already submitted a LOI. Playtika is expected to select the preferred bidder within this month.Playtika is a SNS based gambling game company that currently offers a variety of casino-related mobile games. It is headquartered in Israel and was acquired by Caesars Entertainment Corp. at USD100mil in 2011.Surely, Playtika is one of the hottest game companies in the world with…

Playtika Deal for Netmarble: Timely Move for IPO

Hon Hai finally acquired Sharp. Interestingly, some local industrial sources are saying that the real reason behind this acquisition is to obtain OLED technology from Sharp for Hon Hai to enter the global “OLED” display market.In fact, Reuters reported yesterday that Hon Hai aims to gain access to promising technology for high-end OLED screens likely to be used in future devices from Apple Inc, the electronics assembler's biggest customer. (News source: <a href="http://www.reuters.com/article/us-sharp-hon-hai-oled-idUSKCN0WX1KN" target="_blank">Foxconn's $3.5 billion bet to keep up with</a>…

Hon Hai finally acquired Sharp. Interestingly, some local industrial sources are saying that the real reason behind this acquisition is to obtain OLED technology from Sharp for Hon Hai to enter the global “OLED” display market.In fact, Reuters reported yesterday that Hon Hai aims to gain access to promising technology for high-end OLED screens likely to be used in future devices from Apple Inc, the electronics assembler's biggest customer. (News source: Foxconn's $3.5 billion bet to keep up with…

Hon Hai's Sharp Acquisition Triggering OLED Panel Competition - Why Buy Duk San Neolux Now?

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

DZT Research

DZT 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 short interest of KRX stocks as of May 9th which has an aggregated short interest worth USD6.4bn.</li>
<li>We tabulate league table 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 SK Hynix, Kakao, Samsung Electronics, Hybe, Hanwha Ind Sol, Lig Nex1.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of May 9th which has an aggregated short interest worth USD6.4bn.
We tabulate league table 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 SK Hynix, Kakao, Samsung Electronics, Hybe, Hanwha Ind Sol, Lig Nex1.


KRX Short Interest Weekly (May 9th): SK Hynix, Kakao, Samsung Electronics, Hybe, Hanwha Ind Sol

South Korea

Rsupport Co., Ltd. develops remote support and remote access software. The Company provides web-icon connection methods which allow homes and businesses to remotely access computers. Rsupport offers its products and services around the world.

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Rsupport Co Ltd (131370 KS)

Alpha Generating Trading Strategy of KOSDAQ150 Deletions & Additions in June 2022

An alpha generating trading strategy would be to focus on companies with higher probability of getting deleted in the next round of KOSDAQ...

Douglas Kim

KOSDAQ150 and KRX300 Indices Rebalances (Overlapping Additions & Deletions)

We highlight the KOSDAQ150 and KRX300 indices rebalances. There are some interesting new names, especially among those that are over lapping in...

Douglas Kim

Playtika Deal for Netmarble: Timely Move for IPO

Netmarble Games is said to have joined the bid for "Playtika". This deal is believed to go as high as USD4bil. Netmarble already submitted a LOI....

Sanghyun Park

Hon Hai's Sharp Acquisition Triggering OLED Panel Competition - Why Buy Duk San Neolux Now?

Hon Hai finally acquired Sharp. Interestingly, some local industrial sources are saying that the real reason behind this acquisition is to obtain...

Sanghyun Park

KRX Short Interest Weekly (May 9th): SK Hynix, Kakao, Samsung Electronics, Hybe, Hanwha Ind Sol

We analyzed KRX short interest report for the past week and highlighted short interest changes in SK Hynix, Kakao, Samsung Electronics, Hybe,...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

P/E

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