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>The market is watching closely for when Hyundai Motor might sell its 5% stake in Korea Zinc, with the lockup ending on October 7th.</li>
<li>Hyundai might mediate to end the lawsuit and lift the injunction, potentially agreeing to sell the stake to a third party or on the market.</li>
<li>The uncertainty around Hyundai’s Korea Zinc stake sale makes trading challenging, but its actions in Q4 could significantly affect Korea Zinc’s stock price and create trading opportunities.</li>
</ul>


The market is watching closely for when Hyundai Motor might sell its 5% stake in Korea Zinc, with the lockup ending on October 7th.
Hyundai might mediate to end the lawsuit and lift the injunction, potentially agreeing to sell the stake to a third party or on the market.
The uncertainty around Hyundai’s Korea Zinc stake sale makes trading challenging, but its actions in Q4 could significantly affect Korea Zinc’s stock price and create trading opportunities.


Trading Situation for Hyundai Motor's 5% Stake in Korea Zinc, Set to Be Unlocked in October

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Equity Bottom-Up

<ul>
<li>On 7 August, Korea Zinc (010130 KS) announced several impressive capital return plan that should help to increase shareholder value.</li>
<li>The separation of Korea Zinc between the Choi and Jang families has been in progress in the past several years. The exact timing of when this occurs remains uncertain. </li>
<li>Our NAV Analysis of Young Poong is NAV per share of 470,065 won, representing a 52% upside from current levels. </li>
</ul>


On 7 August, Korea Zinc (010130 KS) announced several impressive capital return plan that should help to increase shareholder value.
The separation of Korea Zinc between the Choi and Jang families has been in progress in the past several years. The exact timing of when this occurs remains uncertain. 
Our NAV Analysis of Young Poong is NAV per share of 470,065 won, representing a 52% upside from current levels. 


Korea Zinc: Impressive Capital Return Plans and a Big Price Gap Between Korea Zinc and Young Poong

<ul>
<li>We discuss the potential additions and deletions to KOSPI 200 in December 2024 amid big declines in share prices of many stocks in KOSPI in the past week.</li>
<li>The eight potential additions are up on average 8.5% from end of 2023. The eight potential deletion candidates are down on average 39.1% YTD.</li>
<li>The average market cap of the seven potential additions is 1.9 trillion won. The average market cap of the seven potential deletion candidates is 0.6 trillion won.</li>
</ul>


We discuss the potential additions and deletions to KOSPI 200 in December 2024 amid big declines in share prices of many stocks in KOSPI in the past week.
The eight potential additions are up on average 8.5% from end of 2023. The eight potential deletion candidates are down on average 39.1% YTD.
The average market cap of the seven potential additions is 1.9 trillion won. The average market cap of the seven potential deletion candidates is 0.6 trillion won.


Potential Additions and Deletions to KOSPI 200 in December 2024 Amid Market Downturn

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).</li>
<li>In this insight, we take a look at the names leading the race to become ADDs and DELs during the upcoming semiannual review in December 2024.</li>
<li>We expect up to five ADDs and six DELs in the KOSPI 200 index during the December 2024 index rebal event based on the latest available data.</li>
</ul>


KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).
In this insight, we take a look at the names leading the race to become ADDs and DELs during the upcoming semiannual review in December 2024.
We expect up to five ADDs and six DELs in the KOSPI 200 index during the December 2024 index rebal event based on the latest available data.


Quiddity Leaderboard KOSPI 200 Dec 24: Up to 5 ADDs & 6 DELs Possible

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

<ul>
<li>Around a third of the way though the review period, there could be 4 changes for the <a href="https://www.smartkarma.com/entities/korea-stock-exchange-kospi-200" target="_blank" data-smartkarma-citation="entities:26021:1" rel="noopener">Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX)</a> at the December rebalance.</li>
<li>The impact on the potential inclusions ranges from 0.6-21 days of ADV while the impact on the potential deletions varies from 2.5-16 days of ADV.</li>
<li>The potential adds have outperformed the potential deletions over the last few months and there could be more to go with short selling banned.</li>
</ul>


Around a third of the way though the review period, there could be 4 changes for the Korea Stock Exchange KOSPI 200 (KOSPI2 INDEX) at the December rebalance.
The impact on the potential inclusions ranges from 0.6-21 days of ADV while the impact on the potential deletions varies from 2.5-16 days of ADV.
The potential adds have outperformed the potential deletions over the last few months and there could be more to go with short selling banned.


KOSPI200 Index Rebalance Preview: 4 Changes Likely in December

South Korea

Young Poong Corporation produces and markets non-ferrous metals, such as zinc ingots, sulfate, and cadmium.  The Company also generates income from leasing buildings.

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

Young Poong (000670 KS)

Trading Situation for Hyundai Motor's 5% Stake in Korea Zinc, Set to Be Unlocked in October

This post explores the Korea Zinc proxy battle and examines how Hyundai Motor's 5% stake, set to be released in October, factors into the mix.

Sanghyun Park

Korea Zinc: Impressive Capital Return Plans and a Big Price Gap Between Korea Zinc and Young Poong

Korea Zinc announces capital return plan to increase shareholder value, while separation between Choi and Jang families continues with uncertain...

Douglas Kim

Potential Additions and Deletions to KOSPI 200 in December 2024 Amid Market Downturn

We discuss the potential additions and deletions to KOSPI 200 in December 2024 amid big declines in share prices of many stocks in KOSPI in the...

Douglas Kim

Quiddity Leaderboard KOSPI 200 Dec 24: Up to 5 ADDs & 6 DELs Possible

We see 5 ADDs and 6 DELETEs in the KOSPI 200 Index Rebal in December 2024 but as always this early, there are lots of caveats. We think the Hanwha...

Travis Lundy

KOSPI200 Index Rebalance Preview: 4 Changes Likely in December

There could be 4 changes for the KOSPI200 in December. The impact on the potential inclusions ranges from 0.6-21 days of ADV while the impact on...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Trading Situation for Hyundai Motor's 5% Stake in Korea Zinc, Set to Be Unlocked in October

This post explores the Korea Zinc proxy battle and examines how Hyundai Motor's 5% stake, set to be released in October, factors into the mix.

Sanghyun Park

Korea Zinc: Impressive Capital Return Plans and a Big Price Gap Between Korea Zinc and Young Poong

​Korea Zinc announces capital return plan to increase shareholder value, while separation between Choi and Jang families continues with uncertain...

Douglas Kim

Potential Additions and Deletions to KOSPI 200 in December 2024 Amid Market Downturn

We discuss the potential additions and deletions to KOSPI 200 in December 2024 amid big declines in share prices of many stocks in KOSPI in the...

Douglas Kim

Quiddity Leaderboard KOSPI 200 Dec 24: Up to 5 ADDs & 6 DELs Possible

We see 5 ADDs and 6 DELETEs in the KOSPI 200 Index Rebal in December 2024 but as always this early, there are lots of caveats. We think the Hanwha...

Travis Lundy

KOSPI200 Index Rebalance Preview: 4 Changes Likely in December

There could be 4 changes for the KOSPI200 in December. The impact on the potential inclusions ranges from 0.6-21 days of ADV while the impact on...

Brian Freitas

Korea Zinc announces capital return plan to increase shareholder value, while separation between Choi and Jang families continues with uncertain...