Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

I investigate special situations, pairs, and index rebalancing trades in Korea.

Korea / Special Sits, Pairs, Index Rebalancing

15 Adds & 15 Deletes in KOSDAQ 150 Rebalancing: Passive Impact & Trade Approaches

Short Position Approach on the Index Entrants on December 10 in Korea

KOSDAQ 150 Special Change: Momentum Trading on Caregen Right Before Inclusion

KOSPI 200 Rebalancing Update After the Review Period Ended

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

<p>The KOSDAQ 150 has no Fast Entry rule for IPO stocks.</p><p>However, it has the rule to include the stocks not meeting the minimum listing period of 6 months at a regular bi-annual rebalancing if the following condition is satisfied.</p><div class="content-highlight"><p><strong>A stock is in the top 50 ordinary stocks on KOSDAQ by full market capitalization.</strong></p></div><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/240/350/original/Screen+Shot+2021-11-08+at+4.43.27+AM.png?1636364839" class="editor-image img-responsive" data-smartkarma-image-id="240350"></figure></section><div class="content-caption">(Source: KOSDAQ 150 Methodology)</div><p>So what is the calculation period? It is simple. The KRX uses the average daily market capitalization for 15 trading days from the screening base date. The screening base date for this December regular rebalancing is October 31.</p><div class="content-highlight"><p><strong>So the 15 trading day review period is from October 8 to October 29.</strong></p></div><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/240/352/original/Screen+Shot+2021-11-08+at+4.43.54+AM.png?1636364975" class="editor-image img-responsive" data-smartkarma-image-id="240352"></figure></section><div class="content-caption">(Source: KOSDAQ 150 Methodology)</div>

The KOSDAQ 150 has no Fast Entry rule for IPO stocks.However, it has the rule to include the stocks not meeting the minimum listing period of 6 months at a regular bi-annual rebalancing if the following condition is satisfied.A stock is in the top 50 ordinary stocks on KOSDAQ by full market capitalization.(Source: KOSDAQ 150 Methodology)So what is the calculation period? It is simple. The KRX uses the average daily market capitalization for 15 trading days from the screening base date. The screening base date for this December regular rebalancing is October 31.So the 15 trading day review period is from October 8 to October 29.(Source: KOSDAQ 150 Methodology)

KOSDAQ 150 Exceptional Addition of Large-Scale Stocks: Ecopro HN & HK Inno.N