Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Index Rebalance

<ul>
<li>Jusung and Hanmi Semiconductor remain mcap Top 4, but weak momentum Z scores keep both low probability inclusion candidates for Monday’s 0167A0 rebalance.</li>
<li>Samsung and Hynix stay Top 2; Samsung E-M, Square, Isu and Daeduck hold Top 4. TES stays, with Simmtech, Fadu and Hana Micron likely replacing PSK, VM and Wonik IPS.</li>
<li>Simmtech is the strongest inclusion candidate, with ~KRW 200bn passive inflow, over 4% of float and ~1x recent DTV, making it a key name to watch Monday.</li>
</ul>


Jusung and Hanmi Semiconductor remain mcap Top 4, but weak momentum Z scores keep both low probability inclusion candidates for Monday’s 0167A0 rebalance.
Samsung and Hynix stay Top 2; Samsung E-M, Square, Isu and Daeduck hold Top 4. TES stays, with Simmtech, Fadu and Hana Micron likely replacing PSK, VM and Wonik IPS.
Simmtech is the strongest inclusion candidate, with ~KRW 200bn passive inflow, over 4% of float and ~1x recent DTV, making it a key name to watch Monday.


Regarding Next Monday’s SOL AI Semis TOP 2 Plus Rebalance

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our global intermediate-term outlook remains bullish on MSCI ACWI (in place since our 5/14/25 Compass). We also remain near-term bullish on MSCI ACWI since our 4/23/26 Int’l Compass.</li>
<li>Value areas of the market are underperforming while Technology and A.I. areas are starting to dominate again.</li>
<li>On ACWI-US, we want to see $156.50 support hold on any pullback (the breakout level) in order to remain near-term bullish, while major support is at $151.50.</li>
</ul>


Our global intermediate-term outlook remains bullish on MSCI ACWI (in place since our 5/14/25 Compass). We also remain near-term bullish on MSCI ACWI since our 4/23/26 Int’l Compass.
Value areas of the market are underperforming while Technology and A.I. areas are starting to dominate again.
On ACWI-US, we want to see $156.50 support hold on any pullback (the breakout level) in order to remain near-term bullish, while major support is at $151.50.


Concerns Mounting as MSCI ACWI Tests Base Support. Buys in Tech, Services, Financials, Healthcare

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
  <li>SIMMTECH is a specialized manufacturer of high-density interconnect (HDI) printed circuit boards (PCBs) and semiconductor package substrates, with a primary focus on the memory and mobile sectors.</li>
  <li>The company is strategically positioned to capitalize on long-term growth trends in artificial intelligence (AI), data centers, and the transition to next-generation memory standards like DDR5, which require more advanced and higher-value substrates.</li>
  <li>After a period of financial losses driven by the semiconductor industry downturn, the company has returned to profitability in early 2026, signaling a potential recovery driven by an improved product mix and rising demand for its high-value products.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  SIMMTECH is a specialized manufacturer of high-density interconnect (HDI) printed circuit boards (PCBs) and semiconductor package substrates, with a primary focus on the memory and mobile sectors.
  The company is strategically positioned to capitalize on long-term growth trends in artificial intelligence (AI), data centers, and the transition to next-generation memory standards like DDR5, which require more advanced and higher-value substrates.
  After a period of financial losses driven by the semiconductor industry downturn, the company has returned to profitability in early 2026, signaling a potential recovery driven by an improved product mix and rising demand for its high-value products.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: SIMMTECH Co Ltd (222800 KS) - Aug 2026

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>Korea Exchange plans to announce the first rebalance of the "Korea Value Up Index" next week on 27 May. The actual rebalance is expected to take place on 13 June.</li>
<li>Korea Exchange plans to reduce the constituents to 100 (from 105 currently) and change 30% of the included stocks in this index to better reflect the Value Up program incentives. </li>
<li>In this insight, we provide a list of 20 potential exclusion candidates and 20 inclusion candidates in the Value Up index rebalance. </li>
</ul>


Korea Exchange plans to announce the first rebalance of the "Korea Value Up Index" next week on 27 May. The actual rebalance is expected to take place on 13 June.
Korea Exchange plans to reduce the constituents to 100 (from 105 currently) and change 30% of the included stocks in this index to better reflect the Value Up program incentives. 
In this insight, we provide a list of 20 potential exclusion candidates and 20 inclusion candidates in the Value Up index rebalance. 


Korea Value Up Index Rebalance Announcement Next Week

<ul>
<li>I spoke directly with the KRX official overseeing KOSDAQ 150, who confirmed that Fadu’s June exclusion was due to ongoing litigation, putting December inclusion in question.</li>
<li>He also confirmed the six-month normal trading record is irrelevant; Fadu’s inclusion hinges on the court case, with a ruling unlikely before early next year, effectively ruling out December entry.</li>
<li>Simmtech could enter TIGER Semis Top 10 if FnGuide reclassifies it as Semiconductors in November’s MKF500 rebalance, potentially triggering front running and passive flow positioning.</li>
</ul>


I spoke directly with the KRX official overseeing KOSDAQ 150, who confirmed that Fadu’s June exclusion was due to ongoing litigation, putting December inclusion in question.
He also confirmed the six-month normal trading record is irrelevant; Fadu’s inclusion hinges on the court case, with a ruling unlikely before early next year, effectively ruling out December entry.
Simmtech could enter TIGER Semis Top 10 if FnGuide reclassifies it as Semiconductors in November’s MKF500 rebalance, potentially triggering front running and passive flow positioning.


What I've Found on Fadu and Simmtech: Key Near Term Passive Flow Plays

South Korea

Simmtech Co., Ltd. manufactures Printed Circuit Board (PCB) modules.  The Company's Memory Module PCBs are used to expand the semiconductor memory and the Mobile Phone Boards are used in communication devices such as mobile phones and navigation devices.

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SIMMTECH Co Ltd (222800 KS)

Regarding Next Monday’s SOL AI Semis TOP 2 Plus Rebalance

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Concerns Mounting as MSCI ACWI Tests Base Support. Buys in Tech, Services, Financials, Healthcare

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Primer: SIMMTECH Co Ltd (222800 KS) - Aug 2026

SIMMTECH is a specialized manufacturer of high-density interconnect (HDI) printed circuit boards (PCBs) and semiconductor package substrates,...

αSK Primers

Korea Value Up Index Rebalance Announcement Next Week

Korea Exchange plans to announce the first rebalance of the "Korea Value Up Index" next week on 27 May. The actual rebalance is expected to take...

Douglas Kim

What I've Found on Fadu and Simmtech: Key Near Term Passive Flow Plays

This post shares my latest findings on Fadu and Simmtech, two names drawing the most attention from a near term local passive flow perspective.

Sanghyun Park

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