Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Equity Derivatives

Korea Stock Exchange KOSPI 200 / Equity Derivatives

<ul>
<li>
<a href="https://www.smartkarma.com/profiles/sanghyun-park" target="_blank" data-smartkarma-citation="accounts:354" rel="noopener">Sanghyun Park</a> recently posted a comprehensive insight regarding South Korea's move toward forcing firms to cancel treasury shares. I invite you to read it if you haven't yet.</li>
<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</a> index passive flows will probably be deeply impacted by this legal reform, we could see this happening soon, before the December KOSPI 200 reshuffle.</li>
<li>Since funds moves could start any time, here is a quantitative-model-based analysis of the most probable trends, with a short-term focus (next 3-4 weeks).</li>
</ul>



Sanghyun Park recently posted a comprehensive insight regarding South Korea's move toward forcing firms to cancel treasury shares. I invite you to read it if you haven't yet.
The KOSPI 200 index passive flows will probably be deeply impacted by this legal reform, we could see this happening soon, before the December KOSPI 200 reshuffle.
Since funds moves could start any time, here is a quantitative-model-based analysis of the most probable trends, with a short-term focus (next 3-4 weeks).


KOSPI 200 Tactical Outlook As Treasury Share Cancellations Impact Passive Flows

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>In this insight, we discuss the increasing popularity of EB issues with treasury shares as the base assets in Korea. There were seven EB issue announcements in Korea in June.</li>
<li>Going forward, more Korean companies are likely to issue EBs in the next several months, prior to the actual official changes in regulations of treasury shares in Korea.</li>
<li>These companies that issue EBs using treasury shares as underlying assets are prime targets of short selling/underperformance.</li>
</ul>


In this insight, we discuss the increasing popularity of EB issues with treasury shares as the base assets in Korea. There were seven EB issue announcements in Korea in June.
Going forward, more Korean companies are likely to issue EBs in the next several months, prior to the actual official changes in regulations of treasury shares in Korea.
These companies that issue EBs using treasury shares as underlying assets are prime targets of short selling/underperformance.


7 EB Issues in Korea in June 2025 - More Coming Until Govt Revises Treasury Shares Regulations

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 Jun 20th. The aggregated short interest was USD8.2bn.</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, Skc, Hanwha Solutions, Kepco E&amp;C, Samsung Fire &amp; Marine Insurance, Meritz Financi, Alteogen, Daewoo Shipbuilding, Korzinc.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Jun 20th. The aggregated short interest was USD8.2bn.
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, Skc, Hanwha Solutions, Kepco E&amp;C, Samsung Fire &amp; Marine Insurance, Meritz Financi, Alteogen, Daewoo Shipbuilding, Korzinc.


KRX Short Interest Weekly (Jun 20th): SK Hynix, Skc, Hanwha Solutions, Kepco E&C

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Mar 28th which has an aggregated short of USD 3.6bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT.</li>
<li>We highlight short interest changes in Samsung Electronics, Shinhan Group, KB Financial, Samsung Biologics.</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Mar 28th which has an aggregated short of USD 3.6bn.
We tabulate league table for top short by value and short as multiple of ADT.
We highlight short interest changes in Samsung Electronics, Shinhan Group, KB Financial, Samsung Biologics.


KRX Short Interest Weekly (Mar 28th): Samsung Electronics, Shinhan Group, KB Financial

<ul>
<li>We analyzed the changes in short interest of KRX stocks as of Mar 14th which has an aggregated short interest worth USD3.6bn.</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 highlight short interest changes in Skc (011790 KS), Korea Aerospace (047810 KS).</li>
</ul>


We analyzed the changes in short interest of KRX stocks as of Mar 14th which has an aggregated short interest worth USD3.6bn.
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 highlight short interest changes in Skc (011790 KS), Korea Aerospace (047810 KS).


KRX Short Interest Weekly (Mar 14th): Skc, Korea Aerospace

South Korea

Taekwang Industrial Co., Ltd. manufactures synthetic yarns, petrochemical products, and textiles.  The Company's products include acrylic yarns, nylons, spandex, carbon fibers, spun yarns, polyester materials, and blankets.  Taekwang also produces electric equipment, such as audio equipment, and cordless telephones.  In addition, The Company operates real estate business.

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52-week Range	0.00 - 0.00
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Taekwang Industrial (003240 KS)

7 EB Issues in Korea in June 2025 - More Coming Until Govt Revises Treasury Shares Regulations

EB issues with treasury shares as the base assets in Korea have been becoming more popular in Korea in recent weeks. These companies that issue EBs...

Douglas Kim

KRX Short Interest Weekly (Jun 20th): SK Hynix, Skc, Hanwha Solutions, Kepco E&C

We analyzed KRX short interest report for the past week and highlighted short interest changes in SK Hynix (000660 KS), Skc (011790 KS), Hanwha...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Mar 28th): Samsung Electronics, Shinhan Group, KB Financial

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, Shinhan Group, KB Financial,...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Mar 14th): Skc, Korea Aerospace

We analyzed KRX short interest report for the past week and highlighted short interest changes in Skc (011790 KS), Korea Aerospace (047810 KS).

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

KOSPI 200 Tactical Outlook As Treasury Share Cancellations Impact Passive Flows

​South Korea's move to cancel treasury shares may impact KOSPI 200 index passive flows, with potential changes before the December reshuffle....

Nico Rosti

7 EB Issues in Korea in June 2025 - More Coming Until Govt Revises Treasury Shares Regulations

EB issues with treasury shares as the base assets in Korea have been becoming more popular in Korea in recent weeks. These companies that issue EBs...

Douglas Kim

KRX Short Interest Weekly (Jun 20th): SK Hynix, Skc, Hanwha Solutions, Kepco E&C

We analyzed KRX short interest report for the past week and highlighted short interest changes in SK Hynix (000660 KS), Skc (011790 KS), Hanwha...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Mar 28th): Samsung Electronics, Shinhan Group, KB Financial

We analyzed KRX short interest report for the past week and highlighted short interest changes in Samsung Electronics, Shinhan Group, KB Financial,...

Ke Yan, CFA, FRM

KRX Short Interest Weekly (Mar 14th): Skc, Korea Aerospace

We analyzed KRX short interest report for the past week and highlighted short interest changes in Skc (011790 KS), Korea Aerospace (047810 KS).

Ke Yan, CFA, FRM

South Korea's move to cancel treasury shares may impact KOSPI 200 index passive flows, with potential changes before the December reshuffle....