Daily Brief Industrials: SK Square , Geekplus Technology, Evergreen Marine Corp, KULR Technology Group and more

• If the three non-IT names exit IT, passive flows hit hard: SK Square/LG Electronics ~0.4× DTV out, LG Corp ~0.8× DTV out, new IT entrants ~0.2–0.25× DTV in.
• If KRX surprises next Tuesday, kicking three names from IT, expect immediate tape reaction—market memory exists, but the scenario isn’t priced, unlike 2023 Kakaopay, so instant price impact is likely.
• If this happens, June 11 turns into a chunky basket-flow day: SK Square (~15% weight) out, next-tier caps see ~0.15–0.2× DTV inflow, except ultra-liquid names like Hanmi Semi.

• In this insight, we present the flows to buy and sell for each of the top 6 Hang Seng Index Family indices based on estimated tracking AUM.
• The indices: Hang Seng Index (HSI), HS Tech Index (HSTECH), HS China Enterprise Index (HSCEI), HS HK Biotech (HSHKBIO), HS Internet & Infotech (HSIII), and HS Healthcare Index (HSHCI).
• By Quiddity calculations based on the 21 November close, there is one-way flow across these six indices of HK$26.14bn (approximately), to trade on 5 December at the close.

• Our measure of container shipping price momentum remained weak in October
• Poor Q3 results and downbeat Q4/FY guidance from Maersk, Zim; and Suez re-opening?
• Conditions are poor and will likely remain that way for a while; AVOID the sector

• KULR Technology Group is transitioning from a service-oriented business to a product-driven company focused on thermal management and battery safety solutions, with a significant strategic pivot towards a Bitcoin-centric treasury model.
• The company has established strong relationships with high-profile clients like NASA and the Department of Defense, leveraging its proprietary carbon fiber thermal management technology for mission-critical applications.
• While revenue is growing, the company remains unprofitable with significant cash burn, and its recent foray into Bitcoin introduces a new layer of volatility and risk to its financial profile.

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