In today’s briefing:
- Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (12 to 26 September 2025)
- BRMS (IDX: BRMS) – Transitioning to a Mid-Tier Gold Producer
- Long CAR Group (CAR AU) Vs. Short Seek (SEK AU): Statistical Arbitrage Play with ~7% Target Return
- Overview #34 – China Rocks On: Bull Market Rules
- New Oriental Education Power Shift: How Will Non-Academic Tutoring Redefine Growth?
- China Healthcare Weekly (Sep.14) – Trump to Put Restrictions on Chinese Drugs, Sihuan Is Undervalued
- Kotak Mahindra Bank (KMB IN) Vs. Bajaj Finserv (BJFIN IN): Stat-Arb Pair Trade in Indian Financials
Top 10 Korean Stock Picks and Key Catalysts Bi-Weekly (12 to 26 September 2025)
- In this insight, we provide the top 10 stock picks and key catalysts in the Korean stock market for the next two weeks (12 to 26 September 2025).
- Our top 10 picks were up on average 7.4% from 29 August to 12 September, outperforming KOSPI which was up 6.6% in the same period.
- Top 10 picks in this bi-weekly include KCC Corp, Nongshim Holdings, KT&G, Paradise, Samsung Life Insurance, Hana Financial, SK Inc, CJ Corp, Lg Chem, and Lotte Tour Development.
BRMS (IDX: BRMS) – Transitioning to a Mid-Tier Gold Producer
- Business Performance – BRMS has delivered explosive revenue and earnings growth, with Citra Palu now producing ~100k oz gold annually at strong margins.
- Plans – The company is expanding with a third plant at Citra Palu in 2025 and developing the Gorontalo copper-gold project for 2027.
- Growth & Valuation – With ~8 Moz in reserves and NAV leverage, BRMS is positioned to double revenues post-2027, though current valuations already embed high expectations.
Long CAR Group (CAR AU) Vs. Short Seek (SEK AU): Statistical Arbitrage Play with ~7% Target Return
- Context: The CAR Group (CAR AU) vs. Seek (SEK AU) price-ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.
- Highlights: Going long CAR Group and short Seek targets a 7% return.
- Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.
Overview #34 – China Rocks On: Bull Market Rules
- A review of recent events/data impacting our investment themes and outlook
- Change of mindset needed for HK/China as the bull markets broadens out
- Signs of excess are rife in many global markets, but no top yet signalled.
New Oriental Education Power Shift: How Will Non-Academic Tutoring Redefine Growth?
- New Oriental Education & Technology Group Ltd reported a strong performance in the fourth quarter of its fiscal year 2025, highlighting both positive advancements and some challenges that may impact their future outlook.
- The company announced an 18.7% year-over-year revenue increase, excluding contributions from its East Buy segment, primarily driven by the expansion of new business ventures.
- These ventures include overseas test preparation, which grew by 15%, and adult and university student services, expanding by 17%.
China Healthcare Weekly (Sep.14) – Trump to Put Restrictions on Chinese Drugs, Sihuan Is Undervalued
- The Trump administration is considering putting “severe restrictions” on the drugs from China, which would negative for China biotech that mainly relies on licensing-out model. We share our views below.
- The key to assessing the future profitability of innovative drugs in China lies in their ability to control costs, not just in the growth of product sales.
- Sihuan achieved a turnaround and is undervalued. Just “medical aesthetics + cash” worth RMB15.3 billion valuation. The innovative drug business will provide decent upside potential, but with some concerns behind.
Kotak Mahindra Bank (KMB IN) Vs. Bajaj Finserv (BJFIN IN): Stat-Arb Pair Trade in Indian Financials
- Context: The Kotak Mahindra Bank (KMB IN) vs. Bajaj Finserv (BJFIN IN) price-ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.
- Highlights: Going long Kotak Mahindra Bank and short Bajaj Finserv targets a 6% return.
- Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.
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