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

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>There is an important upcoming change in regulation for land value disclosures in Korea. </li>
<li>Starting December year end companies' financials, the "officially assessed land values" (공시지가) will become mandatory in the financial footnotes.</li>
<li>I provide a list of 30 companies that could be key beneficiaries of the change in regulation for land value disclosures in Korea. </li>
</ul>


There is an important upcoming change in regulation for land value disclosures in Korea. 
Starting December year end companies' financials, the "officially assessed land values" (공시지가) will become mandatory in the financial footnotes.
I provide a list of 30 companies that could be key beneficiaries of the change in regulation for land value disclosures in Korea. 


Change in Disclosure of Land Value in Korea (Officially Assessed Land Value): Top 30 Beneficiaries

Cross Asset Strategy

<ul>
<li>Korea Exchange announced KOSPI 200 rebalance additions and deletions today. There were 14 new additions and deletions (7 each).</li>
<li>Some surprises in KOSPI 200 rebalance included addition of Seah Besteel and deletion of HDC Hyundai Development. </li>
<li>There were a lot more additions and deletions in KOSDAQ 150 (34 total additions and deletions). Among the KOSDAQ 150 additions included Neowiz, JNTC, Lunit, and Jeio.</li>
</ul>


Korea Exchange announced KOSPI 200 rebalance additions and deletions today. There were 14 new additions and deletions (7 each).
Some surprises in KOSPI 200 rebalance included addition of Seah Besteel and deletion of HDC Hyundai Development. 
There were a lot more additions and deletions in KOSDAQ 150 (34 total additions and deletions). Among the KOSDAQ 150 additions included Neowiz, JNTC, Lunit, and Jeio.


KOSPI 200 and KOSDAQ 150 Rebalance Additions and Deletions Announced (December 2023)

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 Feb 6th. The aggregated short interest was USD13.9bn.</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 KOREA AEROSPACE, Samsung Electronics, Hanwha Ocean, Hanmi Semi, Celltrion.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Feb 6th. The aggregated short interest was USD13.9bn.
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 KOREA AEROSPACE, Samsung Electronics, Hanwha Ocean, Hanmi Semi, Celltrion.


KRX Short Interest Weekly (Feb 6th): KOREA AEROSPACE, Samsung Electronics, Hanwha Ocean, Hanmi Semi

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Jan 9th. The aggregated short interest was USD11.7bn.</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 Hyundai Motor, KorZinc, Samsung Electronics, HyundaiAutoever, SAMSUNG C&amp;T.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jan 9th. The aggregated short interest was USD11.7bn.
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 Hyundai Motor, KorZinc, Samsung Electronics, HyundaiAutoever, SAMSUNG C&amp;T.


KRX Short Interest Weekly (Jan 9th): Hyundai Motor, KorZinc, Samsung Electronics, HyundaiAutoever

South Korea

SAMPYO Cement Co., Ltd. manufactures and distributes cement products. The Company produces slag cement, low heat cement, and other related products. SAMPYO Cement markets its products worldwide.

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SAMPYO Cement (038500 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

Change in Disclosure of Land Value in Korea (Officially Assessed Land Value): Top 30 Beneficiaries

I provide a list of 30 companies that could be key beneficiaries of the change in regulation for land value disclosures in Korea.

Douglas Kim

KOSPI 200 and KOSDAQ 150 Rebalance Additions and Deletions Announced (December 2023)

Korea Exchange announced KOSPI 200 rebalance additions and deletions today. There were 14 new additions and deletions (7 each). There were a lot...

Douglas Kim

KRX Short Interest Weekly (Feb 6th): KOREA AEROSPACE, Samsung Electronics, Hanwha Ocean, Hanmi Semi

We analyzed KRX short interest report for the past week and highlighted short interest changes in KOREA AEROSPACE, Samsung Electronics, Hanwha...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Jan 9th): Hyundai Motor, KorZinc, Samsung Electronics, HyundaiAutoever

We analyzed KRX short interest report for the past week and highlighted short interest changes in Hyundai Motor, KorZinc, Samsung Electronics,...

Ke Yan, CFA, FRM

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