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 Dec 8th which has an aggregated short interest worth USD10.8bn.</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 have highlighted KRX short interest weekly changes in Naver.</li>
</ul>


We analyzed the changes in short interest of KRX Stocks as of Dec 8th which has an aggregated short interest worth USD10.8bn.
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 have highlighted KRX short interest weekly changes in Naver.


KRX Short Interest Weekly (Dec 8th): Naver

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>The fast entry screening spans from November 17th to December 7th. Given its current market cap, we should anticipate the potential success of fast entry.</li>
<li>The implementation date will coincide with the effective day of the December rebalancing, which is December 15th. There are precedents of successfully achieving fast entry with such a tight schedule.</li>
<li>The setup will be challenging due to the short selling ban. Nevertheless, with an existing position, there may be value in a market timing approach.</li>
</ul>


The fast entry screening spans from November 17th to December 7th. Given its current market cap, we should anticipate the potential success of fast entry.
The implementation date will coincide with the effective day of the December rebalancing, which is December 15th. There are precedents of successfully achieving fast entry with such a tight schedule.
The setup will be challenging due to the short selling ban. Nevertheless, with an existing position, there may be value in a market timing approach.


Ecopro Materials KOSPI 200 Fast Entry Assessment: With K Car as the Outgoing Constituent

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

<ul>
<li>On 13 September, SK Innovation announced that the subscription rate for the rights offering allocated to ESOA and existing shareholders was 87.66%.</li>
<li>The rights offering price is 139,600 won, which is 12.7% lower than current price of 159,900 won. </li>
<li>There is likely to be a strong demand for the subscription of rights offering forfeited shares for the general investors scheduled to take place on 14 to 15 September.</li>
</ul>


On 13 September, SK Innovation announced that the subscription rate for the rights offering allocated to ESOA and existing shareholders was 87.66%.
The rights offering price is 139,600 won, which is 12.7% lower than current price of 159,900 won. 
There is likely to be a strong demand for the subscription of rights offering forfeited shares for the general investors scheduled to take place on 14 to 15 September.


SK Innovation: Update on Its Rights Offering Subscription Allocation

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

Korea Stock Exchange KOSPI 200 / Equity Derivatives

Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX EQUITY)

<ul>
<li>The <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">KOSPI 200 INDEX</a> WEEKLY did rise last week and is approaching OVERBOUGHT territory based on the current short-term trend pattern (Q3 resistance is at 346).</li>
<li>The current pattern is bearish, but if the market gains momentum and rallies for 2 more weeks, <strong>it could reach 357 during the 3rd week up</strong> (<strong>not earlier</strong>).</li>
<li>The alternative scenario, a better fit for this bearish pattern, is that the index starts to pull back this week, or remains weak this week and falls the next.</li>
</ul>


The KOSPI 200 INDEX WEEKLY did rise last week and is approaching OVERBOUGHT territory based on the current short-term trend pattern (Q3 resistance is at 346).
The current pattern is bearish, but if the market gains momentum and rallies for 2 more weeks, it could reach 357 during the 3rd week up (not earlier).
The alternative scenario, a better fit for this bearish pattern, is that the index starts to pull back this week, or remains weak this week and falls the next.


EQD | KOSPI 200 Index WEEKLY OVERBOUGHT (Or Break-Out Rally?)

<ul>
<li>KB Asset Management has announced the release of an inverse ETF, containing the top 10 core stocks in the secondary battery sector.</li>
<li>Given the substantial fluctuations in SSF trading volume in Korea, the flow increase of this ETF might temporarily lead to an unusually high level of backwardation.</li>
<li>Also, we may observe a phenomenon known as 'wag-the-dog' as the flow of this inverse ETF could act as a triggering factor for a temporary spark.</li>
</ul>


KB Asset Management has announced the release of an inverse ETF, containing the top 10 core stocks in the secondary battery sector.
Given the substantial fluctuations in SSF trading volume in Korea, the flow increase of this ETF might temporarily lead to an unusually high level of backwardation.
Also, we may observe a phenomenon known as 'wag-the-dog' as the flow of this inverse ETF could act as a triggering factor for a temporary spark.


Korea's First Sector Inverse ETF: Discussing Flow Trading Impacts

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.

Price Gauge
52-week Range	0.00 - 0.00
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SK IE Technology (361610 KS)

KRX Short Interest Weekly (Dec 8th): Naver

We analyzed the KRX short interest report for the past week and we highlighted weekly KRX short interest changes in Naver.

Ke Yan, CFA, FRM

Ecopro Materials KOSPI 200 Fast Entry Assessment: With K Car as the Outgoing Constituent

Despite controversies, KRX will fast-track Ecopro Materials into KOSPI 200 during the December 15th regular rebalancing, removing K Car. An...

Sanghyun Park

SK Innovation: Update on Its Rights Offering Subscription Allocation

SK Innovation is in the spotlight as one of the key companies that could benefit in Korea from higher refining margins in the coming months as it...

Douglas Kim

EQD | KOSPI 200 Index WEEKLY OVERBOUGHT (Or Break-Out Rally?)

The KOSPI 200 Index is approaching Q3/overbought territory, this pattern is bearish, but if the index keeps rallying for 2 more weeks, it could...

Nico Rosti

Korea's First Sector Inverse ETF: Discussing Flow Trading Impacts

This post touches on the release of Korea's first sector inverse ETF containing the top 10 core secondary battery stocks and the resulting flow...

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

KRX Short Interest Weekly (Dec 8th): Naver

We analyzed the KRX short interest report for the past week and we highlighted weekly KRX short interest changes in Naver.

Ke Yan, CFA, FRM

Ecopro Materials KOSPI 200 Fast Entry Assessment: With K Car as the Outgoing Constituent

Despite controversies, KRX will fast-track Ecopro Materials into KOSPI 200 during the December 15th regular rebalancing, removing K Car. An...

Sanghyun Park

SK Innovation: Update on Its Rights Offering Subscription Allocation

SK Innovation is in the spotlight as one of the key companies that could benefit in Korea from higher refining margins in the coming months as it...

Douglas Kim

EQD | KOSPI 200 Index WEEKLY OVERBOUGHT (Or Break-Out Rally?)

​The KOSPI 200 Index is approaching Q3/overbought territory, this pattern is bearish, but if the index keeps rallying for 2 more weeks, it could...

Nico Rosti

Korea's First Sector Inverse ETF: Discussing Flow Trading Impacts

This post touches on the release of Korea's first sector inverse ETF containing the top 10 core secondary battery stocks and the resulting flow...

Sanghyun Park

The KOSPI 200 Index is approaching Q3/overbought territory, this pattern is bearish, but if the index keeps rallying for 2 more weeks, it could...