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 Jun 12th. The aggregated holding was USD1,796.8bn.</li>
<li>We estimate that foreign flows to be outflows of USD7,074mln. 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, SKSQUARE, Samsung Elec (PREF), Hyundai Motor.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jun 12th. The aggregated holding was USD1,796.8bn.
We estimate that foreign flows to be outflows of USD7,074mln. 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, SKSQUARE, Samsung Elec (PREF), Hyundai Motor.


KRX Foreign Holding Weekly (Jun 12th): Samsung Electronics, SK Hynix, SKSQUARE, Samsung Elec (PREF)

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jun 5th. The aggregated holding was USD1,580.4bn.</li>
<li>We estimate that foreign flows to be outflows of USD9,883mln. 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, LG Electronics, NAVER, Samsung Elec (PREF).</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jun 5th. The aggregated holding was USD1,580.4bn.
We estimate that foreign flows to be outflows of USD9,883mln. 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, LG Electronics, NAVER, Samsung Elec (PREF).


KRX Foreign Holding Weekly (Jun 5th): Samsung Electronics, SK Hynix, LG Electronics, 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>Hynix futures open interest trends lower since June 2 with LPs still rolling exposure into next month, while aggressive daily rolls are pressuring Hynix spot and deepening front month backwardation.</li>
<li>Desks are focused on non rolled size into next Thursday expiry, with potential forced unwind from long cash short futures setups driving spot selling and higher volatility risk.</li>
<li>Hynix setup is spot negative into expiry in both roll and non roll cases, a key factor for structuring trades into next Thursday outright or relative value versus Square.</li>
</ul>


Hynix futures open interest trends lower since June 2 with LPs still rolling exposure into next month, while aggressive daily rolls are pressuring Hynix spot and deepening front month backwardation.
Desks are focused on non rolled size into next Thursday expiry, with potential forced unwind from long cash short futures setups driving spot selling and higher volatility risk.
Hynix setup is spot negative into expiry in both roll and non roll cases, a key factor for structuring trades into next Thursday outright or relative value versus Square.


Hynix Expiry Setup Spot Negative Both Roll and Non Roll, Key for Trades Vs Square

<ul>
<li>We analysed the earning revision of component stocks of MS-South Korea in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on ECOPRO, HD HYUNDAI, SK, SKSQUARE, SK Innovation, SK Hynix, Samsung Electronics.</li>
</ul>


We analysed the earning revision of component stocks of MS-South Korea in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on ECOPRO, HD HYUNDAI, SK, SKSQUARE, SK Innovation, SK Hynix, Samsung Electronics.


MS-South Korea Index Earning Revision (May): ECOPRO, HD HYUNDAI, SK, SKSQUARE, SK Innovation

Index Rebalance

<ul>
<li>FnGuide MKF500 rebal: Fadu finally added, SK Square and ISU Petasys surprisingly reclassified into semis, driving notable passive flow impact into the KRW 15tn semis ETF complex.</li>
<li>TIGER Semis Top 10 is pure free float MCAP screen, all three already Top 10, so inclusion basically locked if rankings hold.</li>
<li>Other five depend on keyword scoring so lower visibility, but still high inclusion odds; expect stacked FnGuide passive flows from June 12 through July and October driving heavy positioning.</li>
</ul>


FnGuide MKF500 rebal: Fadu finally added, SK Square and ISU Petasys surprisingly reclassified into semis, driving notable passive flow impact into the KRW 15tn semis ETF complex.
TIGER Semis Top 10 is pure free float MCAP screen, all three already Top 10, so inclusion basically locked if rankings hold.
Other five depend on keyword scoring so lower visibility, but still high inclusion odds; expect stacked FnGuide passive flows from June 12 through July and October driving heavy positioning.


FnGuide MKF500 Rebal: Fadu Finally Added, Key Surprises Are SK Square & ISU Petasys Now Semis

South Korea

SK Square Co., Ltd. operates as an investment company. The Company invests in semiconductors, information and communications technologies, and other industries. SK Square conducts businesses in South Korea.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

SK Square (402340 KS)

KRX Foreign Holding Weekly (Jun 12th): Samsung Electronics, SK Hynix, SKSQUARE, Samsung Elec (PREF)

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

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Jun 5th): Samsung Electronics, SK Hynix, LG Electronics, NAVER

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

Ke Yan, CFA, FRM

Hynix Expiry Setup Spot Negative Both Roll and Non Roll, Key for Trades Vs Square

Hynix setup is spot negative into expiry in both roll and non roll cases, a key factor for structuring trades into next Thursday outright or...

Sanghyun Park

MS-South Korea Index Earning Revision (May): ECOPRO, HD HYUNDAI, SK, SKSQUARE, SK Innovation

We analyzed MS-South Korea's consensus for May 2026 and highlighted changes of EPS in ECOPRO, HD HYUNDAI, SK, SKSQUARE, SK Innovation, SK Hynix,...

Ke Yan, CFA, FRM

FnGuide MKF500 Rebal: Fadu Finally Added, Key Surprises Are SK Square & ISU Petasys Now Semis

FnGuide MKF500 June rebalancing results are out: Fadu finally included, but key surprises are SK Square and ISU Petasys being reclassified into...

Sanghyun Park

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)