Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>There are some major surprises (both inclusions and exclusions) in the Korea Value Up index. </li>
<li>In particular, the telecom sector (SK Telecom and KT) and large cap holding companies (Samsung C&amp;T and LG Corp) are surprising exclusions in the index.</li>
<li>There are many surprising inclusions in the Korea Value Up Index. We provide 30 companies are surprising inclusions in the Korea Value Up Index (19 KOSDAQ and 11 KOSPI listed).</li>
</ul>


There are some major surprises (both inclusions and exclusions) in the Korea Value Up index. 
In particular, the telecom sector (SK Telecom and KT) and large cap holding companies (Samsung C&amp;T and LG Corp) are surprising exclusions in the index.
There are many surprising inclusions in the Korea Value Up Index. We provide 30 companies are surprising inclusions in the Korea Value Up Index (19 KOSDAQ and 11 KOSPI listed).


Korea Value Up Index - Surprising Inclusions and Exclusions

Index Rebalance

<ul>
<li>FnGuide announced that Mirae Asset TIGER Semiconductor TOP 10 ETF, which operates based on its FnGuide's own index, surpassed 3 trillion won in net assets.</li>
<li>In this insight, we discuss the impact of this change on FnGuide Semiconductor Top10 Index Rebalance in April 2026. </li>
<li>ISC Co Ltd (095340 KS) is a potential inclusion candidate (borderline) in the FnGuide Semiconductor Top10 Index Rebalance in April 2026.</li>
</ul>


FnGuide announced that Mirae Asset TIGER Semiconductor TOP 10 ETF, which operates based on its FnGuide's own index, surpassed 3 trillion won in net assets.
In this insight, we discuss the impact of this change on FnGuide Semiconductor Top10 Index Rebalance in April 2026. 
ISC Co Ltd (095340 KS) is a potential inclusion candidate (borderline) in the FnGuide Semiconductor Top10 Index Rebalance in April 2026.


TIGER Semiconductor TOP 10 ETF > 3 Trillion Won in AUM: Impact on FnGuide Index's Next Rebalance

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 Jul 17th. The aggregated short interest was USD15.1bn.</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 TES, ISUPETASYS, PSK, Samsung Electronics, Samsung F&amp;M Insurance.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jul 17th. The aggregated short interest was USD15.1bn.
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 TES, ISUPETASYS, PSK, Samsung Electronics, Samsung F&amp;M Insurance.


KRX Short Interest Weekly (Jul 17th): TES, ISUPETASYS, PSK, Samsung Electronics

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.

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Jul 3rd. The aggregated short interest was USD17.0bn.</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 SK Hynix, SKSQUARE, LS ELECTRIC, DB HiTek, JEL.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jul 3rd. The aggregated short interest was USD17.0bn.
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 SK Hynix, SKSQUARE, LS ELECTRIC, DB HiTek, JEL.


KRX Short Interest Weekly (Jul 3rd): SK Hynix, SKSQUARE, LS ELECTRIC, DB HiTek, JEL

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.

<ul>
<li>TIGER signaled via local channels yesterday they’ll stick to methodology and proceed with the April 10 rebalance, effectively locking in the adds/drops.</li>
<li>March screening: 44 MKF500 semi names ranked by avg daily mcap for top 10. ISC in / Dongjin out is locked; no red flags for ISC.</li>
<li>Passive flow estimates: ETF &gt;KRW 8tn AUM. ISC/Dongjin show super chunky flows; Hynix 25% cap reset drives smaller-cap inflows. These under-owned names may see sharp moves.</li>
</ul>


TIGER signaled via local channels yesterday they’ll stick to methodology and proceed with the April 10 rebalance, effectively locking in the adds/drops.
March screening: 44 MKF500 semi names ranked by avg daily mcap for top 10. ISC in / Dongjin out is locked; no red flags for ISC.
Passive flow estimates: ETF &gt;KRW 8tn AUM. ISC/Dongjin show super chunky flows; Hynix 25% cap reset drives smaller-cap inflows. These under-owned names may see sharp moves.


TIGER Confirmed It Will Run the April 10 FnGuide Top 10 Semis Rebalance Strictly by the Book

South Korea

Soulbrain Co., Ltd. manufactures and distributes chemicals. The Company produces functional organic materials, fine chemical materials, chemical deposition materials, etchant materials, and other related products. Soulbrain also produces secondary battery materials, semiconductor materials, and display products.

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Soulbrain (357780 KS)

Korea Value Up Index - Surprising Inclusions and Exclusions

There are many surprising inclusions and exclusions in the Korea Value Up Index. We provide 30 companies that are surprising inclusions and 10...

Douglas Kim

TIGER Semiconductor TOP 10 ETF > 3 Trillion Won in AUM: Impact on FnGuide Index's Next Rebalance

ISC Co Ltd (095340 KS) is a potential inclusion candidate (borderline) in the FnGuide Semiconductor Top10 Index Rebalance in April 2026.

Douglas Kim

KRX Short Interest Weekly (Jul 17th): TES, ISUPETASYS, PSK, Samsung Electronics

We analyzed KRX short interest report for the past week and highlighted short interest changes in TES, ISUPETASYS, PSK, Samsung Electronics,...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Jul 3rd): SK Hynix, SKSQUARE, LS ELECTRIC, DB HiTek, JEL

We analyzed KRX short interest report for the past week and highlighted short interest changes in SK Hynix, SKSQUARE, LS ELECTRIC, DB HiTek, JEL.

Ke Yan, CFA, FRM

TIGER Confirmed It Will Run the April 10 FnGuide Top 10 Semis Rebalance Strictly by the Book

TIGER has confirmed that it will carry out the April 10 FnGuide Top 10 Semis rebalance strictly according to the standard methodology.

Sanghyun Park

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