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 Oct 10th. The aggregated short interest was USD11.4bn.</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 HYUNDAI ROTEM, Samsung Electronics, Hyundai Motor, SK Hynix, LG Chem.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Oct 10th. The aggregated short interest was USD11.4bn.
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 HYUNDAI ROTEM, Samsung Electronics, Hyundai Motor, SK Hynix, LG Chem.


KRX Short Interest Weekly (Oct 10th): HYUNDAI ROTEM, Samsung Electronics, Hyundai Motor, SK Hynix

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX). It's popular.</li>
<li>87% of the reference period for the December 2025 rebal is complete. We see up to 6 ADDs and 6 DELs. Obvious ADD vs Downweight trades have not worked recently.</li>
<li>Of the "1.5 pairs" I liked last time which worked fundamentally, both are down hard. Trades here are rotated. </li>
</ul>


KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX). It's popular.
87% of the reference period for the December 2025 rebal is complete. We see up to 6 ADDs and 6 DELs. Obvious ADD vs Downweight trades have not worked recently.
Of the "1.5 pairs" I liked last time which worked fundamentally, both are down hard. Trades here are rotated. 


[Quiddity Index] Oct25 KOSPI 200 Leaderboard for Dec25 Rebal: Still 6+6, New 1.5 Pairs to Trade

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>In this insight, we provide an early look at the potential additions and deletions to KOSPI200 rebalance in December 2025.</li>
<li>The seven potential additions are up on average 200% YTD. The eight potential deletion candidates are down on average 8.8% YTD. KOSPI is up 44.7% YTD.</li>
<li>The average market cap of the seven potential additions is 3.5 trillion won. The average market cap of the seven potential deletion candidates is 0.6 trillion won.</li>
</ul>


In this insight, we provide an early look at the potential additions and deletions to KOSPI200 rebalance in December 2025.
The seven potential additions are up on average 200% YTD. The eight potential deletion candidates are down on average 8.8% YTD. KOSPI is up 44.7% YTD.
The average market cap of the seven potential additions is 3.5 trillion won. The average market cap of the seven potential deletion candidates is 0.6 trillion won.


Potential Additions and Deletions to KOSPI200 in December 2025

<ul>
<li>KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX). It's popular.</li>
<li>Inside, we look at the names likely to become ADDs and DELs during the upcoming semiannual review in December 2025. We see up to 6 ADDs and 6 DELs.</li>
<li>There are 1.5 pairs I like here even though we have weeks left. One is "surer" than the other, but they both work fundamentally.</li>
</ul>


KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX). It's popular.
Inside, we look at the names likely to become ADDs and DELs during the upcoming semiannual review in December 2025. We see up to 6 ADDs and 6 DELs.
There are 1.5 pairs I like here even though we have weeks left. One is "surer" than the other, but they both work fundamentally.


[Quiddity Index Sep25] KOSPI 200 Leaderboard for Dec25 Rebal: 6 ADDs + 6 DELs, 1.5 Pairs to Trade

<ul>
<li>KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).</li>
<li>We expect up to 6 ADDs and 6 DELs for the December-2025 index rebal based on the latest available data. Same count as a month ago, but 5/12 name changes.</li>
<li>We have new charts available for all expected ADDs/DELs showing a variety of data we think worthwhile in terms of judging trade opportunity and risk. And two recommended trades.</li>
</ul>


KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).
We expect up to 6 ADDs and 6 DELs for the December-2025 index rebal based on the latest available data. Same count as a month ago, but 5/12 name changes.
We have new charts available for all expected ADDs/DELs showing a variety of data we think worthwhile in terms of judging trade opportunity and risk. And two recommended trades.


[Quiddity Index Aug25] KOSPI 200 Leaderboard for Dec25 Rebal: 6 ADDs, 6 DELs, Two Recommended Trades

South Korea

Sanil Electric Co., Ltd. operates electrical equipment manufacturing businesses. The Company produces oil-immersed transformers, cast resin transformers, dry-type transformers, reactors, and other products. Sanil Electric conducts businesses in South Korea.

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Sanil Electric (062040 KS)

KRX Short Interest Weekly (Oct 10th): HYUNDAI ROTEM, Samsung Electronics, Hyundai Motor, SK Hynix

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

Ke Yan, CFA, FRM

[Quiddity Index] Oct25 KOSPI 200 Leaderboard for Dec25 Rebal: Still 6+6, New 1.5 Pairs to Trade

The KOSPI Dec25 rebal is 87% of the way through its reference period. Things are solidifying. We still see 6 ADDs and 6 DELETEs. AI/chip/memory...

Travis Lundy

Potential Additions and Deletions to KOSPI200 in December 2025

In this insight, we provide an early look at the potential additions and deletions to KOSPI200 rebalance in December 2025. The seven potential...

Douglas Kim

[Quiddity Index Sep25] KOSPI 200 Leaderboard for Dec25 Rebal: 6 ADDs + 6 DELs, 1.5 Pairs to Trade

The December 2025 KOSPI Rebal has seen 75% of its observation period pass. One name is not on the reserve list but is a likely ADD anyway. I'd put...

Travis Lundy

[Quiddity Index Aug25] KOSPI 200 Leaderboard for Dec25 Rebal: 6 ADDs, 6 DELs, Two Recommended Trades

When we published this 17 days ago, we recommended two trades. LONG Hyundai Autoever (307950 KS) vs SHORT Samsung SDS (018260 KS) and SHORT HDC...

Travis Lundy

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