In today’s briefing:
- [Quiddity Index] KOSPI 200 Leaderboard for Dec26 Rebal: 5 ADDs,6 DELs; Some Name Changes
- Sept 22 MTD Opposition Raises Oct 21 Survival Odds, Boosting Hynix ADR Expansion Incentive
- Bosung Power Technology – Fair Valuations Despite Higher Demand for HVDC Infrastructure In Korea
[Quiddity Index] KOSPI 200 Leaderboard for Dec26 Rebal: 5 ADDs,6 DELs; Some Name Changes
- KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).
- In this insight, we have presented our expectations for ADDs and DELs for the upcoming semiannual review in December 2026.
- 79% of the reference period for the December 2026 rebal is complete. We see up to 5 ADDs and 6 DELs.
Sept 22 MTD Opposition Raises Oct 21 Survival Odds, Boosting Hynix ADR Expansion Incentive
- Sept. 22 Opposition largely recycles the CAC, but its January 2026 customer vetting logic strengthens MTD survival odds, keeping Hynix as the key litigation focus.
- The January 2026 customer vetting point makes Hynix’s need to double down on its HBM transition narrative even more critical, potentially strengthening the case for ADR expansion.
- Regulatory approval remains key, but political and strategic incentives increasingly support ADR expansion, potentially making Hynix ADR arb a key trade setup from mid October.
Bosung Power Technology – Fair Valuations Despite Higher Demand for HVDC Infrastructure In Korea
- Bosung Power Technology is a Korean power-equipment manufacturer of transmission towers, steel structures for power plants and substations, gas-insulated switchgear, pole-mounted transformers and other electrical equipment.
- The company’s operations have remarkably improved in the past three years as it has been one of the beneficiaries of Korea’s aggressive investments in the high-voltage direct-current (HVDC) transmission infrastructure.
- The company’s sales and profits worsened in 1H 2026 after record breaking results in 2025. Bosung Powertech looks fairly valued now at P/E of 20x and P/B of 3.1x.
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