Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Aug 8th. The aggregated short interest was USD10.0bn.</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 Silicon2, NAVER, LG Chem, KakaoBank, POSCO FUTURE M.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 8th. The aggregated short interest was USD10.0bn.
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 Silicon2, NAVER, LG Chem, KakaoBank, POSCO FUTURE M.


KRX Short Interest Weekly (Aug 8th): Silicon2, NAVER, LG Chem, KakaoBank, POSCO FUTURE M

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are 3 stocks in Korea that could be deleted from a global index in August and that will result in large selling from passive trackers.</li>
<li>Short interest has increased in all 3 stocks since the resumption of short selling. Cumulative excess volume is higher in all stocks over the last couple of months.</li>
<li>Given the increase in shorts and positioning, there could be short covering in two of the three stocks. The third could still drop over the next couple of weeks.</li>
</ul>


There are 3 stocks in Korea that could be deleted from a global index in August and that will result in large selling from passive trackers.
Short interest has increased in all 3 stocks since the resumption of short selling. Cumulative excess volume is higher in all stocks over the last couple of months.
Given the increase in shorts and positioning, there could be short covering in two of the three stocks. The third could still drop over the next couple of weeks.


Korea: 3 Potential Index Deletions in August; Positioning Watch

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Aug 1st. The aggregated short interest was USD9.7bn.</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 HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG H&amp;H, Hanwha Vision.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Aug 1st. The aggregated short interest was USD9.7bn.
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 HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG H&amp;H, Hanwha Vision.


KRX Short Interest Weekly (Aug 1st): HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG H&H

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Jul 25th. The aggregated short interest was USD9.7bn.</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 LG Chem, Shinhan Group, Hanwha Ocean, Samsung Electronics, SCD.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jul 25th. The aggregated short interest was USD9.7bn.
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 LG Chem, Shinhan Group, Hanwha Ocean, Samsung Electronics, SCD.


KRX Short Interest Weekly (Jul 25th): LG Chem, Shinhan Group, Hanwha Ocean, Samsung Electronics, SCD

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Jul 18th. The aggregated short interest was USD9.4bn.</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 Kakaopay, Korzinc, SK Hynix, Samsung Sds, Hanwha Aerospace, Woori Financial, Alteogen, Samsung H.I..</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jul 18th. The aggregated short interest was USD9.4bn.
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 Kakaopay, Korzinc, SK Hynix, Samsung Sds, Hanwha Aerospace, Woori Financial, Alteogen, Samsung H.I..


KRX Short Interest Weekly (Jul 18th): Kakaopay, Korzinc, SK Hynix, Samsung Sds, Hanwha Aerospace

South Korea

SKC Co., Ltd. manufactures a variety of films, including polyester films, silicon coated films, and inkjet films.  The Company also produces chemical products, such as propylene oxide, propylene glycol, and styrene monomer. In addition, SKC provides materials for photovoltaic.

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SKC Co Ltd (011790 KS)

KRX Short Interest Weekly (Aug 8th): Silicon2, NAVER, LG Chem, KakaoBank, POSCO FUTURE M

We analyzed KRX short interest report for the past week and highlighted short interest changes in Silicon2, NAVER, LG Chem, KakaoBank, POSCO FUTURE M.

Ke Yan, CFA, FRM

Korea: 3 Potential Index Deletions in August; Positioning Watch

There could be 3 deletions in Korea. Flow varies between US$84m-US$100m and impact between 4-8x ADV. Shorts have increased, as has positioning....

Brian Freitas

KRX Short Interest Weekly (Aug 1st): HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG H&H

We analyzed KRX short interest report for the past week and highlighted short interest changes in HANWHA SOLUTIONS, Hyundai Motor, Samsung SDI, LG...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Jul 25th): LG Chem, Shinhan Group, Hanwha Ocean, Samsung Electronics, SCD

We analyzed KRX short interest report for the past week and highlighted short interest changes in LG Chem, Shinhan Group, Hanwha Ocean, Samsung...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Jul 18th): Kakaopay, Korzinc, SK Hynix, Samsung Sds, Hanwha Aerospace

We analyzed KRX short interest report for the past week and highlighted short interest changes in Kakaopay, Korzinc, SK Hynix, Samsung Sds, Hanwha...

Ke Yan, CFA, FRM

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