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 short interest of KRX stocks as of Aug 28th. The aggregated short interest was USD19.4bn.</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 KEPCO E&amp;C, Silicon2, HyundaiEng&amp;Const, Hyundai Motor, Doosan Enerbility.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 28th. The aggregated short interest was USD19.4bn.
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 KEPCO E&amp;C, Silicon2, HyundaiEng&amp;Const, Hyundai Motor, Doosan Enerbility.


KRX Short Interest Weekly (Aug 28th): KEPCO E&C, Silicon2, HyundaiEng&Const, Hyundai Motor

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li><em><strong>In this insight, I discuss about SK Innovation (096770 KS) and four other stocks in KOSPI that could experience additional selling with end of mandatory lock-up periods in September.</strong></em></li>
<li>The end of these lock-up periods could potentially result in additional selling by insiders which could negatively impact the share prices of these companies (on average) in the coming weeks.</li>
<li>SK Innovation recently announced its merger plans with SK IE Technology (361610 KS) which I viewed negatively due to negative impact on SK Innovation's financials. </li>
</ul>


In this insight, I discuss about SK Innovation (096770 KS) and four other stocks in KOSPI that could experience additional selling with end of mandatory lock-up periods in September.
The end of these lock-up periods could potentially result in additional selling by insiders which could negatively impact the share prices of these companies (on average) in the coming weeks.
SK Innovation recently announced its merger plans with SK IE Technology (361610 KS) which I viewed negatively due to negative impact on SK Innovation's financials. 


SK Innovation and Other Stocks in KOSPI With End of Mandatory Lock-Up Period In September

<ul>
<li>On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET).</li>
<li>I believe this will have a negative impact on SK Innovation and a neutral impact on SK IET.</li>
<li>The biggest concern is the fact that SK IET has been generating continued net losses in the past several years and this could negatively impact SK Innovations' financial structure. </li>
</ul>


On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET).
I believe this will have a negative impact on SK Innovation and a neutral impact on SK IET.
The biggest concern is the fact that SK IET has been generating continued net losses in the past several years and this could negatively impact SK Innovations' financial structure. 


SK Innovation Announces a Merger With SK IET (Before New Regulation Kicks In)

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). </li>
<li>We expect up to 5 ADDs/6 DELs in the KOSPI 200 index during the next semiannual review in December 2026. Roughly 61% of the reference period is now complete. </li>
<li>There is the potential for sector threshold borderline volatility to change both the number of name changes and the names themselves. </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 5 ADDs/6 DELs in the KOSPI 200 index during the next semiannual review in December 2026. Roughly 61% of the reference period is now complete. 
There is the potential for sector threshold borderline volatility to change both the number of name changes and the names themselves. 


[Quiddity Index] KOSPI 200 Leaderboard for Dec26 Rebal: 5 ADDs, 6 DELs

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

Oil & Natural Gas Corporation / Technical Analysis

<ul>
<li>MSCI EM (EEM-US) continues to show signs of bottoming as it has held above our $37-$37.50 line-in-the-sand. </li>
<li>Major 1+ year resistance on the EEM-US is at $42, and a breakout would mean the bottom is in (and would be a buy signal).</li>
<li>Favor EM over EAFE due to 2.5-year downtrend reversal in the EAFE vs. EM ratio. Top Overweights: Taiwan, India, Greece; Attractive EM Sectors: Energy, Technology, Consumer Discretionary, Financials</li>
</ul>


MSCI EM (EEM-US) continues to show signs of bottoming as it has held above our $37-$37.50 line-in-the-sand. 
Major 1+ year resistance on the EEM-US is at $42, and a breakout would mean the bottom is in (and would be a buy signal).
Favor EM over EAFE due to 2.5-year downtrend reversal in the EAFE vs. EM ratio. Top Overweights: Taiwan, India, Greece; Attractive EM Sectors: Energy, Technology, Consumer Discretionary, Financials


MSCI Emerging Market Index Testing 1+ Year Resistance; Favor EM over EAFE; Top EM Buys Highlighted

South Korea

SK IE Technology Co., Ltd operates as a material solution provider. The Company provides information material solutions, electronic materials solutions, and other products. SK IE Technology conducts businesses across worldwide.

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SK IE Technology (361610 KS)

KRX Short Interest Weekly (Aug 28th): KEPCO E&C, Silicon2, HyundaiEng&Const, Hyundai Motor

We analyzed KRX short interest report for the past week and highlighted short interest changes in KEPCO E&C, Silicon2, HyundaiEng&Const, Hyundai...

Ke Yan, CFA, FRM

SK Innovation and Other Stocks in KOSPI With End of Mandatory Lock-Up Period In September

In this insight, I discuss about SK Innovation (096770 KS) and four other stocks in KOSPI that could experience additional selling with end of...

Douglas Kim

SK Innovation Announces a Merger With SK IET (Before New Regulation Kicks In)

On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET). I believe this will have a negative impact...

Douglas Kim

[Quiddity Index] KOSPI 200 Leaderboard for Dec26 Rebal: 5 ADDs, 6 DELs

The period for the Dec26 KOSPI rebalance is 60% complete. We are at 5 ADDs / 6 DELETEs due to a spinoff occurring next week. A bit early to bet but...

Travis Lundy

MSCI Emerging Market Index Testing 1+ Year Resistance; Favor EM over EAFE; Top EM Buys Highlighted

MSCI EM Index $EEM Testing 1+ Year Resistance; Favor EM over EAFE $EFA. Top EM Country Overweights: Taiwan, India, Greece; Attractive EM Sectors:...

Vermilion Research

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