In today’s briefing:
- KOSPI200 June ’24 Rebalance: Index Changes Released, 6 Additions & 6 Deletions
- Unexpected Inclusion of Cosmo AM&T in KOSPI 200 Sparks Notable One-Day Flow Via KOSPI 200 IT
KOSPI200 June ’24 Rebalance: Index Changes Released, 6 Additions & 6 Deletions
- The KRX have announced the index changes for the KOSPI200 June review.
- The index will be rebalanced in the closing auction on Thursday the 13th of June.
- There will be 6 additions to the index and 6 deletions.
Unexpected Inclusion of Cosmo AM&T in KOSPI 200 Sparks Notable One-Day Flow Via KOSPI 200 IT
- Unexpectedly, KRX included Cosmo AM&T (005070 KS) despite not meeting the market cap cutoff and excluded DB Hitek (000990 KS) and Lotte Energy Materials (020150 KS).
- Cosmo AM&T’s unexpected inclusion triggers a significant one-day passive flow event through the KOSPI 200 IT, the sector index with the largest AUM.
- Sector index rebalancing, a single-day event managed by one ETF operator, more significantly correlates flow direction with price impact. We should consider a long-short setup for these on June 13th.
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