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 analysed the earning revision of component stocks of MS-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 Samsung Electronics, Samsung Elec (PREF), SKSQUARE, Hyundai Motor, S-Oil, KEPCO, SK Hynix.</li>
</ul>


We analysed the earning revision of component stocks of MS-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 Samsung Electronics, Samsung Elec (PREF), SKSQUARE, Hyundai Motor, S-Oil, KEPCO, SK Hynix.


MS-South Korea Index Earning Revision (Jan): Samsung Electronics, Samsung Elec (PREF), SKSQUARE

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jan 30th. The aggregated holding was USD1,137.3bn.</li>
<li>We estimate that foreign flows to be inflows of USD505mln. 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 Hyundai Motor, Samsung Electronics, SK Hynix, NAVER, Samsung SDI.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jan 30th. The aggregated holding was USD1,137.3bn.
We estimate that foreign flows to be inflows of USD505mln. 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 Hyundai Motor, Samsung Electronics, SK Hynix, NAVER, Samsung SDI.


KRX Foreign Holding Weekly (Jan 30th): Hyundai Motor, Samsung Electronics, SK Hynix, NAVER

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jan 23rd. The aggregated holding was USD1,058.6bn.</li>
<li>We estimate that foreign flows to be outflows of USD312mln. 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 Hyundai Motor, Samsung Electronics, Mobis, Samsung SDI, Hyundai Glovis.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jan 23rd. The aggregated holding was USD1,058.6bn.
We estimate that foreign flows to be outflows of USD312mln. 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 Hyundai Motor, Samsung Electronics, Mobis, Samsung SDI, Hyundai Glovis.


KRX Foreign Holding Weekly (Jan 23rd): Hyundai Motor, Samsung Electronics, Mobis, Samsung SDI

<ul>
<li>We analyzed the changes in foreign holdings of KRX stocks as of Jan 16th. The aggregated holding was USD1,025.2bn.</li>
<li>We estimate that foreign flows to be outflows of USD1,519mln. 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, Hyundai Motor, Hanwha Ocean, kakaopay.</li>
</ul>


We analyzed the changes in foreign holdings of KRX stocks as of Jan 16th. The aggregated holding was USD1,025.2bn.
We estimate that foreign flows to be outflows of USD1,519mln. 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, Hyundai Motor, Hanwha Ocean, kakaopay.


KRX Foreign Holding Weekly (Jan 16th): Samsung Electronics, SK Hynix, Hyundai Motor, Hanwha Ocean

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>Hanwha Corp announced that it will create two separate holding companies for the Hanwha Group - Hanwha Corp and Hanwha Machinery &amp; Service Holdings.  </li>
<li>Hanwha Corp will also cancel 4.45 million treasury shares (5.9% of outstanding shares) to improve shareholder value.</li>
<li>We have raised our NAV valuation of Hanwha Corp. Our upgraded NAV analysis of Hanwha Corp is target price of 204,800 won per share (up 63% from current price).</li>
</ul>


Hanwha Corp announced that it will create two separate holding companies for the Hanwha Group - Hanwha Corp and Hanwha Machinery &amp; Service Holdings.  
Hanwha Corp will also cancel 4.45 million treasury shares (5.9% of outstanding shares) to improve shareholder value.
We have raised our NAV valuation of Hanwha Corp. Our upgraded NAV analysis of Hanwha Corp is target price of 204,800 won per share (up 63% from current price).


Hanwha Corp: Creation of Two Separate Holding Companies & Cancellation of 5.9% of Outstanding Shares

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.

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SK Square (402340 KS)

MS-South Korea Index Earning Revision (Jan): Samsung Electronics, Samsung Elec (PREF), SKSQUARE

We analyzed MS-Korea's consensus for Jan 2026 and highlighted changes of EPS in Samsung Electronics, Samsung Elec (PREF), SKSQUARE, Hyundai Motor,...

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Jan 30th): Hyundai Motor, Samsung Electronics, SK Hynix, NAVER

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

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Jan 23rd): Hyundai Motor, Samsung Electronics, Mobis, Samsung SDI

We analyzed KRX foreign holding data for the past week and highlighted foreign holding changes in Hyundai Motor, Samsung Electronics, Mobis,...

Ke Yan, CFA, FRM

KRX Foreign Holding Weekly (Jan 16th): Samsung Electronics, SK Hynix, Hyundai Motor, Hanwha Ocean

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

Ke Yan, CFA, FRM

Hanwha Corp: Creation of Two Separate Holding Companies & Cancellation of 5.9% of Outstanding Shares

We have raised our NAV valuation of Hanwha Corp. Our upgraded NAV analysis of Hanwha Corp is target price of 204,800 won per share (up 63% from...

Douglas Kim

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52-week Range

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P/E

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