rket capitalization of the Korea Composite Stock Price Index (KOSPI) and 47% of its revenues. Samsung Electronics alone represents a 21% share of the KOSPI market capitalization and 21% share of employees which is emblematic of the chaebols’ influence in Korean society. During Park Geun-Hye’s 2012 presi

omething that we will look to keep for now given downside risks in Europe over the first half of next year. One trade we are taking off today is our Kospi forward vol position. We had held that as a hedge against a China hard landing. Our derivative strategists no longer like it and we have no opted for

ti-corruption agency is investigating their chairman. Shanghai saw a late day rally after struggling most of the day on IPO resumption concerns. The Kospi managed to close above 2000 as foreign and pension money helped lend support and Taiwan closed higher, driven by Largan (+6.5%) and Asustek(+4.5%).

to 7.6% from 7.7% which also dampened sentiment. South Korea outperformed as it spiked in the final minutes on a foreign MOC program which took the Kospi into positive territory. Phanna names are in focus in India after Sun Pharmaceutical (+1.1% currently) announced an all-stock deal to buy out Ranbax

led to hold the 99 level in the AM session but regained it for the PM, further boosting exporters. Retail was also supportive with Mothers +11%. The Kospi, on the other hand, underperformed as it was weighed from rotation out of South Korea (especially autos) and into Japan. Outside of Japan, the RBA u

ect (the exception was November 2008, when global equity markets went haywire). North Korean provocations and impact on South Korean equity market, Kospi Index, 100 = day before event 115 110 105 100 95 90 85 80 0 1 2 3 Source: Doorrberg. 4 5 6 7 8 9 10 11 12 13 14 Date Event A B

.2% q/q vs est +0.5%. AUD testing parity after the RBA cut its 2013 inflation forecast and reiterated forecast for below trend growth this year. The Kospi lagged the region -1.75% and gave back yesterday's surprise rate cut gains as exporters slumped on the won strength and Samsung closed -2.57%. Euro

hed markets lower triggered by a sharp 10% fall in the Mothers index. Exporters continued to outperform domestic names on back of the JPY move. The Kospi managed only a modest gain as volumes remained low and local institutions remained sidelined ahead of tomorrow's options expiry and BOK rate decisio

23 Sep 2011 10:24:32 +0000 Good Morning ... European Markets off 50-150 bps (Greece -3.4%) ... Nikkei closed for holiday (China -0.40%, HSI -1.36%, Kospi -5.7%) EUR 1.3476 (+0.09%) JPY 76.24 (+0.01%) Copper -4.6% Silver -7.6% 10yr 1.74% 30yr 2.81% Futures: Dow -20, Nasdaq -1, III -2 DXY 78.35 (