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 foreign holdings of KRX stocks as of Jul 17th. The aggregated holding was USD1,555.1bn.</li>
<li>We estimate that foreign flows to be inflows of USD23,200mln. 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, SKSQUARE, Samsung Elec (PREF), LG Innotek.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jul 17th. The aggregated holding was USD1,555.1bn.
We estimate that foreign flows to be inflows of USD23,200mln. 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, SKSQUARE, Samsung Elec (PREF), LG Innotek.


KRX Foreign Holding Weekly (Jul 17th): SK Hynix, Samsung Electronics, SKSQUARE, Samsung Elec (PREF)

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Apr 3rd. The aggregated holding was USD1,098.3bn.</li>
<li>We estimate that foreign flows to be outflows of USD7,419mln. 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, SK Hynix, HD HYUNDAI HEAVY INDUSTRIES, Hyundai Motor, KB Financial.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Apr 3rd. The aggregated holding was USD1,098.3bn.
We estimate that foreign flows to be outflows of USD7,419mln. 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, SK Hynix, HD HYUNDAI HEAVY INDUSTRIES, Hyundai Motor, KB Financial.


KRX Foreign Holding Weekly (Apr 3rd): Samsung Electronics, SK Hynix, HD HYUNDAI HEAVY INDUSTRIES

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.

Event-Driven

<ul>
<li>Next rebalance is Dec 12; Simmtech (222800 KS) looks set to replace Philoptics, with a KRW 0.8T market cap gap making it a high-conviction front-runner.</li>
<li>Dongjin Semicam and Daeduck clear market cap but face keyword-score risk; PSK Holdings vs S&amp;S Tech is tight — final screening will decide, so front-running carries caution.</li>
<li>December rebalance AUM doubled; Simmtech and Philoptics could see ~1x DTV passive flows, likely triggering an even stronger passive price impact than last cycle.</li>
</ul>


Next rebalance is Dec 12; Simmtech (222800 KS) looks set to replace Philoptics, with a KRW 0.8T market cap gap making it a high-conviction front-runner.
Dongjin Semicam and Daeduck clear market cap but face keyword-score risk; PSK Holdings vs S&amp;S Tech is tight — final screening will decide, so front-running carries caution.
December rebalance AUM doubled; Simmtech and Philoptics could see ~1x DTV passive flows, likely triggering an even stronger passive price impact than last cycle.


Hunting Trades in Korea Semis Materials & Equip ETF Ahead of the Dec Rebalance

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Aug 29th. The aggregated short interest was USD10.4bn.</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 LIG Nex1, Alteogen, SamsungF&amp;MIns, SK Hynix, SKC.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 29th. The aggregated short interest was USD10.4bn.
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 LIG Nex1, Alteogen, SamsungF&amp;MIns, SK Hynix, SKC.


KRX Short Interest Weekly (Aug 29th): LIG Nex1, Alteogen, Samsung F&M Ins, SK Hynix, SKC

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Mar 14th which has an aggregated short interest worth USD3.6bn.</li>
<li>We tabulate league table 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 Skc (011790 KS), Korea Aerospace (047810 KS).</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Mar 14th which has an aggregated short interest worth USD3.6bn.
We tabulate league table 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 Skc (011790 KS), Korea Aerospace (047810 KS).


KRX Short Interest Weekly (Mar 14th): Skc, Korea Aerospace

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)

KRX Foreign Holding Weekly (Jul 17th): SK Hynix, Samsung Electronics, SKSQUARE, Samsung Elec (PREF)

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

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Apr 3rd): Samsung Electronics, SK Hynix, HD HYUNDAI HEAVY INDUSTRIES

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

Ke Yan, CFA, FRM

Hunting Trades in Korea Semis Materials & Equip ETF Ahead of the Dec Rebalance

This post explores potential trade flow and positioning in the Korea Semis Materials & Equipment ETF ahead of the December rebalance.

Sanghyun Park

KRX Short Interest Weekly (Aug 29th): LIG Nex1, Alteogen, Samsung F&M Ins, SK Hynix, SKC

We analyzed KRX short interest report for the past week and highlighted short interest changes in LIG Nex1, Alteogen, SamsungF&MIns, SK Hynix, SKC.

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Mar 14th): Skc, Korea Aerospace

We analyzed KRX short interest report for the past week and highlighted short interest changes in Skc (011790 KS), Korea Aerospace (047810 KS).

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)