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

Index Rebalance

<ul>
<li>With 70% of the review period complete, there could be 14 constituent changes for the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index (KOSDQ150 INDEX)</a> in June.</li>
<li>There has been huge interest in the KOSDAQ market lately and that has led to big ETF creations in the last few months. That leads to increased flow and impact.</li>
<li>The forecast adds have MASSIVELY outperformed the forecast deletes over the last few months and in the last week. While the flow/impact are huge, watch out for short-term reversal.</li>
</ul>


With 70% of the review period complete, there could be 14 constituent changes for the KOSDAQ 150 Index (KOSDQ150 INDEX) in June.
There has been huge interest in the KOSDAQ market lately and that has led to big ETF creations in the last few months. That leads to increased flow and impact.
The forecast adds have MASSIVELY outperformed the forecast deletes over the last few months and in the last week. While the flow/impact are huge, watch out for short-term reversal.


KOSDAQ150 Index Rebalance Preview: Soaring AUM and Increased Flow/Impact

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 short interest of KRX stocks as of Aug 7th. The aggregated short interest was USD17.3bn.</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 Samsung Elec (PREF), OCI, Samsung Electronics, Alteogen, POSCO FUTURE M.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 7th. The aggregated short interest was USD17.3bn.
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 Samsung Elec (PREF), OCI, Samsung Electronics, Alteogen, POSCO FUTURE M.


KRX Short Interest Weekly (Aug 7th): Samsung Elec (PREF), OCI, Samsung Electronics, Alteogen

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>This insight provides an update on the KOSDAQ 150 rebalance candidates in June 2026.</li>
<li>I provide 8 potential addition candidates to KOSDAQ 150 rebalance including Orum Therapeutics (475830 KS), Hyundai Movex (319400 KS), and Rokit Healthcare (376900 KS). </li>
<li>These 8 stocks are up on average 130.3% in the past six months, significantly outperforming KOSDAQ which is up 31.5% in the same period.</li>
</ul>


This insight provides an update on the KOSDAQ 150 rebalance candidates in June 2026.
I provide 8 potential addition candidates to KOSDAQ 150 rebalance including Orum Therapeutics (475830 KS), Hyundai Movex (319400 KS), and Rokit Healthcare (376900 KS). 
These 8 stocks are up on average 130.3% in the past six months, significantly outperforming KOSDAQ which is up 31.5% in the same period.


An Update on the KOSDAQ 150 Rebalance Candidates in June 2026

<ul>
<li>There will be 16 changes for the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index (KOSDQ150 INDEX)</a> at the next rebalance to be implemented at the close on 11 December.</li>
<li>Making use of their discretionary powers, the index committee has not added <a href="https://www.smartkarma.com/entities/wonik-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:6485:1" rel="noopener">Wonik Holdings Co., Ltd (030530 KS)</a>, <a href="https://www.smartkarma.com/entities/samhyun-co-ltd" target="_blank" data-smartkarma-citation="entities:40872:1" rel="noopener">Samhyun (437730 KS)</a> and <a href="https://www.smartkarma.com/entities/fadu-inc" target="_blank" data-smartkarma-citation="entities:39896:1" rel="noopener">Fadu (440110 KS)</a> to the index.</li>
<li>The adds have outperformed the deletes and the <a href="https://www.smartkarma.com/entities/kosdaq-150-index" target="_blank" data-smartkarma-citation="entities:31077:1" rel="noopener">KOSDAQ 150 Index</a> over the last 6 months and there has been a short-term move higher too. Watch out for short covering.</li>
</ul>


There will be 16 changes for the KOSDAQ 150 Index (KOSDQ150 INDEX) at the next rebalance to be implemented at the close on 11 December.
Making use of their discretionary powers, the index committee has not added Wonik Holdings Co., Ltd (030530 KS), Samhyun (437730 KS) and Fadu (440110 KS) to the index.
The adds have outperformed the deletes and the KOSDAQ 150 Index over the last 6 months and there has been a short-term move higher too. Watch out for short covering.


KOSDAQ150 Index Rebalance: 16 Changes a Side; Fadu a Casualty Yet Again

Event-Driven

<ul>
<li>We discuss the end of the mandatory lock-up periods for 52 stocks in Korea in December 2024, among which two are in KOSPI and 50 are in KOSDAQ.</li>
<li>Hese 52 stocks on average could be subject to further selling pressures in December and could underperform relative to the market.</li>
<li>The top three market cap stocks including those of which at least 1% of outstanding shares could be sold in December are Jeju Air, LS Materials, and Toolgen.</li>
</ul>


We discuss the end of the mandatory lock-up periods for 52 stocks in Korea in December 2024, among which two are in KOSPI and 50 are in KOSDAQ.
Hese 52 stocks on average could be subject to further selling pressures in December and could underperform relative to the market.
The top three market cap stocks including those of which at least 1% of outstanding shares could be sold in December are Jeju Air, LS Materials, and Toolgen.


End of Mandatory Lock-Up Periods for 52 Companies in Korea in December 2024

South Korea

Saltlux.Inc operates system software businesses. The Company develops big data processing systems, big data computing systems, and other artificial intelligence systems. Saltlux conducts business in Korea.

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Saltlux (304100 KS)

KOSDAQ150 Index Rebalance Preview: Soaring AUM and Increased Flow/Impact

There could be 14 constituent changes for the KOSDAQ150 in June. AUM linked to the index has soared over the last couple of months. The forecast...

Brian Freitas

KRX Short Interest Weekly (Aug 7th): Samsung Elec (PREF), OCI, Samsung Electronics, Alteogen

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Elec (PREF), OCI, Samsung Electronics,...

Ke Yan, CFA, FRM

An Update on the KOSDAQ 150 Rebalance Candidates in June 2026

Update on KOSDAQ 150 rebalance candidates in June 2026, with 8 potential addition candidates showing significant outperformance.

Douglas Kim

KOSDAQ150 Index Rebalance: 16 Changes a Side; Fadu a Casualty Yet Again

There are 16 changes a side for the KOSDAQ150 in Dec. The index committee has decided not to add Fadu for yet another review. Short interest is...

Brian Freitas

End of Mandatory Lock-Up Periods for 52 Companies in Korea in December 2024

We discuss the end of the mandatory lock-up periods for 52 stocks in Korea in December 2024, among which two are in KOSPI and 50 are in KOSDAQ.

Douglas Kim

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

KOSDAQ150 Index Rebalance Preview: Soaring AUM and Increased Flow/Impact

There could be 14 constituent changes for the KOSDAQ150 in June. AUM linked to the index has soared over the last couple of months. The forecast...

Brian Freitas

KRX Short Interest Weekly (Aug 7th): Samsung Elec (PREF), OCI, Samsung Electronics, Alteogen

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Elec (PREF), OCI, Samsung Electronics,...

Ke Yan, CFA, FRM

An Update on the KOSDAQ 150 Rebalance Candidates in June 2026

​Update on KOSDAQ 150 rebalance candidates in June 2026, with 8 potential addition candidates showing significant outperformance.

Douglas Kim

KOSDAQ150 Index Rebalance: 16 Changes a Side; Fadu a Casualty Yet Again

There are 16 changes a side for the KOSDAQ150 in Dec. The index committee has decided not to add Fadu for yet another review. Short interest is...

Brian Freitas

End of Mandatory Lock-Up Periods for 52 Companies in Korea in December 2024

We discuss the end of the mandatory lock-up periods for 52 stocks in Korea in December 2024, among which two are in KOSPI and 50 are in KOSDAQ.

Douglas Kim

Update on KOSDAQ 150 rebalance candidates in June 2026, with 8 potential addition candidates showing significant outperformance.