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 foreign holdings of KRX stocks as of Aug 28th. The aggregated holding was USD1,632.1bn.</li>
<li>We estimate that foreign flows to be outflows of USD5,652mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in SK Hynix, Samsung Electronics, Alteogen, Samsung Elec (PREF), Hyundai Motor.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Aug 28th. The aggregated holding was USD1,632.1bn.
We estimate that foreign flows to be outflows of USD5,652mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in SK Hynix, Samsung Electronics, Alteogen, Samsung Elec (PREF), Hyundai Motor.


KRX Foreign Holding Weekly (Aug 28th): SK Hynix, Samsung Electronics, Alteogen, Samsung Elec (PREF)

Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Cross Asset Strategy

<ul>
<li>China is injecting liquidity into the markets, but ironically, with investors sick and tired of negative returns, much of this liquidity is finding its way everywhere except China.</li>
<li>The downturn in commercial real estate is becoming a global phenomenon. A growing number of companies is grappling with bad real estate loans, leading to a sharp increase in provisions.</li>
<li>The most recent Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) reveals yet another trend that the recession is already behind us.</li>
</ul>


China is injecting liquidity into the markets, but ironically, with investors sick and tired of negative returns, much of this liquidity is finding its way everywhere except China.
The downturn in commercial real estate is becoming a global phenomenon. A growing number of companies is grappling with bad real estate loans, leading to a sharp increase in provisions.
The most recent Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) reveals yet another trend that the recession is already behind us.


The Weekly Market Monitor – How China Is Pushing Stocks Higher Except at Home

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/k-bank-co-ltd" target="_blank" data-smartkarma-citation="entities:36073:1" rel="noopener">K Bank (279570 KS)</a> raised around US$340m in its South Korean IPO in March 2026. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>K Bank is one of three Internet-only banks in Korea. It provides a full range of commercial banking products and services.</li>
<li>In this note, we will talk about the lockup dynamics and possible placement.</li>
</ul>



K Bank (279570 KS) raised around US$340m in its South Korean IPO in March 2026. The lockup on its pre-IPO investors is set to expire soon.
K Bank is one of three Internet-only banks in Korea. It provides a full range of commercial banking products and services.
In this note, we will talk about the lockup dynamics and possible placement.


Aequitas Kbank Lockup Expiry - Most Investors Will Be Out of Lockup, as 23% of Stock Is Released

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<ul>
<li>FSC Chairman Kim Joo-hyun mentioned that too many companies in Korea are trading below book value and the FSC plans to implement changes to improve upon this issue. </li>
<li>According to Korea Exchange, 1,111 companies out of total listed in KOSPI and KOSDAQ in Korea (2,538) are trading at below 1x book value (PBR) (liquidation value). </li>
<li>According to the Capital Group, about 39% of companies in the TOPIX trade below book value, compared to just 5% for companies in the S&amp;P 500 Index. </li>
</ul>


FSC Chairman Kim Joo-hyun mentioned that too many companies in Korea are trading below book value and the FSC plans to implement changes to improve upon this issue. 
According to Korea Exchange, 1,111 companies out of total listed in KOSPI and KOSDAQ in Korea (2,538) are trading at below 1x book value (PBR) (liquidation value). 
According to the Capital Group, about 39% of companies in the TOPIX trade below book value, compared to just 5% for companies in the S&amp;P 500 Index. 


44% of Korean Stocks Are Trading Below Book Value - FSC Wants to Improve This (Following Japan)

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Aug 21st. The aggregated holding was USD1,681.4bn.</li>
<li>We estimate that foreign flows to be inflows of USD1,538mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Samsung Electronics, SamsungElecMech, SK Hynix, SKSQUARE, SKTelecom.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Aug 21st. The aggregated holding was USD1,681.4bn.
We estimate that foreign flows to be inflows of USD1,538mln. We tabulate the league table for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Samsung Electronics, SamsungElecMech, SK Hynix, SKSQUARE, SKTelecom.


KRX Foreign Holding Weekly (Aug 21st): Samsung Electronics, SamsungElecMech, SK Hynix, SKSQUARE

South Korea

Shinhan Financial Group Co., Ltd., a holding company, provides a full range of consumer and commercial banking-related financial services.  The company's main businesses include banking, securities brokerage, trust banking, and assets management to individuals, businesses, and other financial institutions.

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Shinhan Financial Group Adr (SHG US)

KRX Foreign Holding Weekly (Aug 28th): SK Hynix, Samsung Electronics, Alteogen, Samsung Elec (PREF)

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in SK Hynix, Samsung Electronics, Alteogen, Samsung...

Ke Yan, CFA, FRM

The Weekly Market Monitor – How China Is Pushing Stocks Higher Except at Home

Is this the start of another Chinese liquidity boom? Meanwhile, commercial real estate loan provisions are spreading across the globe, which is why...

Jeroen Blokland

Aequitas Kbank Lockup Expiry - Most Investors Will Be Out of Lockup, as 23% of Stock Is Released

K Bank (279570 KS) raised around US$340m in its South Korean IPO in March 2026. The lockup on its pre-IPO investors is set to expire soon.

Sumeet Singh

44% of Korean Stocks Are Trading Below Book Value - FSC Wants to Improve This (Following Japan)

A 44% of Korean stocks are trading below book value. FSC wants to improve this, following Japan's "name and shame" policy.

Douglas Kim

KRX Foreign Holding Weekly (Aug 21st): Samsung Electronics, SamsungElecMech, SK Hynix, SKSQUARE

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Samsung Electronics, SamsungElecMech, SK Hynix,...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

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