In today’s briefing:
- Playing Korea’s Hot Secondary Battery Sector Rotation
- KEIWA (4251 JP): 1H FY12/25 flash update
Playing Korea’s Hot Secondary Battery Sector Rotation
- Battery-Sector rotation is heating up in Korea as active ETFs sharply boost LG Energy Solution and Samsung SDI, signaling renewed sector focus amid ESS growth and easing valuation pressures.
- Watch for supply-demand dislocations during battery-sector ETF rebalances; top-heavy names may see concentrated flows, amplifying trading intensity and driving larger-than-normal price swings.
- The 25% cap reversion could move LG Energy Solution down and SK Innovation up ~5pp, with flows hitting -0.2x/+0.6x DTV, potentially amplified by aggressive sector inflows.
KEIWA (4251 JP): 1H FY12/25 flash update
- Revenue increased by 2.8% YoY to JPY9.9bn, driven by higher sales of optical products for laptops and tablets.
- Operating profit rose 8.9% YoY to JPY2.2bn, aided by improved profitability and segment repositioning efforts.
- Recurring profit decreased 23.6% YoY to JPY2.0bn, while net income attributable to owners dropped 56.0% YoY to JPY694mn.
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