In today’s briefing:
- HSTECH Index Rebalance: Leapmotor (9863 HK) To Replace ASMPT (522 HK) As Trade Hits US$3.5bn
- Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly 21 November to 5 December 2025)
- Asia-Pac M&A Weekly Wrap: RPMGlobal, Insignia, Webjet, Mayne Pharma, Jinke Smart, Digital Holdings
- Financial Institutions Should Accelerate the Reduction of Their Policy Shareholdings
HSTECH Index Rebalance: Leapmotor (9863 HK) To Replace ASMPT (522 HK) As Trade Hits US$3.5bn
- As expected, Zhejiang Leapmotor Technologie (9863 HK) will replace ASM Pacific Technology (522 HK) in the Hang Seng TECH Index (HSTECH INDEX) at the December rebalance.
- Estimated one-way turnover is 4.7% and that results in a round-trip trade of HK$27.5bn (US$3.5bn). There is between 8.7-9.8 days of ADV to trade in the two stocks.
- Capping and float changes results in chunky flows to some other stocks and there could be big price moves over the next week.
Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly 21 November to 5 December 2025)
- In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (21 November to 5 December 2025).
- Our top 10 picks in the past two weeks (7 to 21 November) were up on average 1.4% this period, outperforming KOSPI which was down 2.5% in the same period.
- Our top 10 picks in the next two weeks include LG CNS, Hana Financial, Orion Corp, KT&G, Naver, KEPCO E&C, Hanmi Pharm, Amorepacific Corp, LG Chem (Pref), and SK Inc.
Asia-Pac M&A Weekly Wrap: RPMGlobal, Insignia, Webjet, Mayne Pharma, Jinke Smart, Digital Holdings
- I tally 34 – mostly firm, mostly Asia-Pac – arb transactions currently being discussed and analysed on Smartkarma. Those arbs metrics and upcoming events are detailed below.
- One new deal was discussed on Smartkarma this week: Genes Tech Group Holdings (8257 HK). Technically, the Offer for Jinke Smart Services (9666 HK) is new.
- Key updates/news also took place on: RPMGlobal (RUL AU), Insignia Financial (IFL AU), Webjet (WJL AU), Mayne Pharma (MYX AU), and Digital Holdings (2389 JP).
Financial Institutions Should Accelerate the Reduction of Their Policy Shareholdings
- During fiscal year 2024, which spans March 2024 to March 2025, the policy-held shares are estimated to have been reduced by approximately 20%.
- Financial institutions are accelerating their expansion into overseas markets, and as profits from Japanese operations stagnate, the rationale for maintaining cross-shareholdings with Japanese companies is diminishing.
- Some companies focused on the domestic market wish to continue holding cross-shareholdings due to business relationships. The gap between these companies and those expanding globally is expected to widen further.
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