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

KOSDAQ 150 Rebalancing Results: Changes, Passive Flow, & Trade Approach

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

KOSDAQ 150 Rebalancing Screening & Passive Impacts: 10 Likely Changes

KOSDAQ150 Index Rebalance Preview: 15 Potential Changes; Big Impact on Deletions

KOSPI 200 Index Review: Likely Changes Incl. Spinoff & Fast Entry & Stock in Early Trading

KOSPI200 Index Rebalance Preview: Review Period Almost Complete; Short Selling Commences in a Week

Clepsydra Capital

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

Event-Driven

<p>This time, KOSDAQ 150 rebalancing is expected to have a big change.</p><hr><div class="content-highlight"><h2>Additions: 16 candidates</h2></div><p>As of yesterday, we have 16 strong candidates to join KOSDAQ 150 newly. Vaxcell Bio and Nanos are the biggest ones, market cap-wise. Icure Pharm and Sungwoo Hitech will be the smallest-cap new members.</p><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/203/143/original/Additions+with+market+cap+%28%E2%82%A9B%29.png?1619574736" class="editor-image img-responsive" data-smartkarma-image-id="203143"></figure></section><p>Vaxcell Bio and Binex are expected to enjoy the largest passive inflow at an estimated ₩45.5B and an estimated ₩38.1B, respectively.</p><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/203/144/original/Additions+with+estimated+passive+inflow+%28%E2%82%A9B%29.png?1619574882" class="editor-image img-responsive" data-smartkarma-image-id="203144"></figure><p>But Gemvax and Fine Semitech should deserve special attention as they will likely see the highest inflow to average daily trading value at 3.47x and 3.06x, respectively.</p></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/203/146/original/Additions+with+estimated+passive+inflow_ADTV+%28x%29.png?1619575145" class="editor-image img-responsive" data-smartkarma-image-id="203146"></figure><hr>
<div class="content-highlight"><h2>Deletions: 17 candidates</h2></div>
<p>A total of 17 names are expected to leave KOSDAQ 150 this June. The biggest ones are KH Vatec and eBEST Investment. The smallest ones are HL Science and Easy Holdings.</p>
<section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/203/151/original/Deletions+with+market+cap+%28%E2%82%A9B%29.png?1619575718" class="editor-image img-responsive" data-smartkarma-image-id="203151"></figure></section><p>Again, KH Vatec will suffer the largest passive outflow at an estimated ₩16.9B, closely followed by Advanced Process (₩14.9B) and Daea TI (₩14.6B).</p>
<section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/203/155/original/Deletions+with+estimated+passive+outflow+%28%E2%82%A9B%29.png?1619576142" class="editor-image img-responsive" data-smartkarma-image-id="203155"></figure><p>However, Ubiquoss Holdings and Korea Ratings will likely suffer the harshest impact as their estimated passive outflow to ADTV stands at the highest, 10.44x and 9.07x, respectively.</p></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/203/156/original/Deletions+with+estimated+passive+outflow_ADTV+%28x%29.png?1619576149" class="editor-image img-responsive" data-smartkarma-image-id="203156"></figure></section></section>

This time, KOSDAQ 150 rebalancing is expected to have a big change.Additions: 16 candidatesAs of yesterday, we have 16 strong candidates to join KOSDAQ 150 newly. Vaxcell Bio and Nanos are the biggest ones, market cap-wise. Icure Pharm and Sungwoo Hitech will be the smallest-cap new members.Vaxcell Bio and Binex are expected to enjoy the largest passive inflow at an estimated ₩45.5B and an estimated ₩38.1B, respectively.But Gemvax and Fine Semitech should deserve special attention as they will likely see the highest inflow to average daily trading value at 3.47x and 3.06x, respectively.
Deletions: 17 candidates
A total of 17 names are expected to leave KOSDAQ 150 this June. The biggest ones are KH Vatec and eBEST Investment. The smallest ones are HL Science and Easy Holdings.
Again, KH Vatec will suffer the largest passive outflow at an estimated ₩16.9B, closely followed by Advanced Process (₩14.9B) and Daea TI (₩14.6B).
However, Ubiquoss Holdings and Korea Ratings will likely suffer the harshest impact as their estimated passive outflow to ADTV stands at the highest, 10.44x and 9.07x, respectively.

KOSDAQ 150 Preview: 16 Additions & 17 Deletions - Passive Inflow/ADTV & Loan Balance/Float

Nanos Co Ltd

KOSDAQ 150 Preview: 16 Additions & 17 Deletions - Passive Inflow/ADTV & Loan Balance/Float