Daily brief
Morning report — Mon 26 Oct 2026 ~07:50 HKT / 08:50 KST (research/paper)
Research/paper only. No live orders or recommendations. KRX opens 09:00 KST (08:00 HKT); pack written pre-open. Age cut: news Fri 23 + weekend + Mon 26; DART ≥ Fri 23 Oct 15:40 KST. Do not treat Yahoo prev-close as a Monday gap — Fri official close is last cash.
today Mon pre-open after Fri bounce + weekend Hynix capital-return media. Fri cash: KOSPI 5,550.30 (+0.30%), Samsung ₩215,500 (+0.47%), SK hynix ₩1,277,000 (+4.42%) (vs Thu ₩1,223,000); Yonhap FX 15:30 1,324.6. HK Fri: HSI 23,093.37 (+0.69%), HSTECH 3,871.66 (+2.05%); Zhipu HK$499.00 (+8.29%), MiniMax HK$187.60 (+16.74%). SKHY Fri RTH $137.02; same-session prem ~+42.1%. Weekend X: Jukan $12B special dividend (=80% Kioxia stake-sale gains) — local KR media, not DART; Daishin 8-high HBM path; CXMT refused DDR5 dump. AJ TSLA Caution stack (Waymo / robotaxi burn / $1B media). DART KEEP×1 (Senko residual only).
watchlists US AJ: NEW rows 0. Standing Y: AVGO, MU, MRVL, NVDA (HC), XPEV, META, AMD. Wait ORCL; Caution TSLA, NIO (TSLA Caution reinforced — Waymo lead + robotaxi cash-burn + Elon $1B media/Starlink colour); Watch SPCX; Avoid EOSE, EOS; N PLTR, AAPL, RIVN, SNDK. Korea attractive: EMPTY (Finance MCP needsAuth). Hardcore unread. NVDA Fri $210.96. Outlook AJ trade-alerts app-teaser only (no hardcore).
asia news 8 items (a 3 / b 4 / c 1). MiniMax/Zhipu Fri rebound; KOSPI +0.30% / Samsung+Hynix Solidigm bounce; HSI+HSTECH; Solidigm dilemma colour; Caixin Fed-week / fiscal.
X Aft refresh ~2026-10-26 13:40 HKT: priority n_new=5 + HC×1 (SpaceX/neocloud cost-of-capital) + Home Following. Sentiment mixed / medium shifted: HBM4 pin soft Hynix/Micron; NVLink/AMD; AJ+HC SpaceX-neocloud; Home USD ease + TSLA robotaxi cluster vs Caution; China demo/auto soft. Home ok; hardcore readable.
DART 6 keeps after age cut (floor Fri 15:40 KST): EuBiologics 206650 UP 1-3% · Tomato System 393210 UP 3-8% · IPARK 294870 UP 1-3% · GI Tech 382480 UP 1-3% · SK Hynix 000660 MIXED 1-3% · Senko 347000 UP 1-3%. Last watch scan 2026-10-26 10:53 KST · tip 20261026000059. New keeps → DART bot. ping_needed=true.
funding BN vs HL (07:48 HKT): BTC +1.10 / ETH +5.88 / SOL -0.26; SKHY +23.15 bp, SKHYNIX/SKHX +21.57 bp. HL SKHY/SKHX mark−oracle (-38.6 / -50.7 bp). Next BN 08:00 HKT. Paper only.
HYROX Warsaw HYROX: OPEN since Wed 14 Oct (PL saleStatus=onSale; PRO MEN Friday active @ 600 PLN; last_pinged_id pl-page-onsale-2026-10-14). Outlook Mon morning: Meal Planner / Youngstars HK / Hanoi / HK Relay only — no new Warsaw OPEN/sold-out/wave. ping_needed=false.
Asia news tape
Monday age cut: Fri 23 + weekend + Mon 26 · n=8 (a 3 / b 4 / c 1) · refreshed 2026-10-26 07:50 HKT / 2026-10-26 08:50 KST. Rank a = China AI / HK; b = SK hynix/Samsung/KOSPI/HSI; c = other macro.
Session context: Mon 26 Oct pre-open (~07:50 HKT / 08:50 KST): KRX cash opens 09:00 KST. Fri 23 cash: KOSPI 5,550.30 (+0.30%), Samsung ₩215,500 (+0.47%), 000660 ₩1,277,000 (+4.42%); Yonhap FX 15:30 1,324.6. SKHY Fri RTH $137.02. HK Fri: HSI 23,093.37 (+0.69%); HSTECH 3,871.66 (+2.05%); Zhipu 499.00 (+8.29%); MiniMax 187.60 (+16.74%). Do not invent Mon gap from Yahoo prev-close.
rank aYahoo 0100.HK · Caixin (Thu tape) · HK wires · 2026-10-23 close
MiniMax-W 0100.HK +16.74% to HK$187.60 — rebound above IPO after Thu smash
Yahoo official Fri close: MiniMax-W (0100.HK) HK$187.60 (+16.74% vs Thu 160.70; range 155.20–191.70; vol ~24.4m). Caixin Thu wire had flagged MiniMax below IPO amid AI pricing competition / product gap; Fri bounce reclaims offer-area optics. HK AI tape firmed with HSTECH.
Implication: a-rank China AI / HK: violent Thu→Fri mean-revert on MiniMax after below-IPO print — constructive for HK China-AI optics into Mon, still idiosyncratic vs Seoul cash.
finance.yahoo.com/quote/0100.HK/
rank aYahoo 2513.HK · HK AI wires · 2026-10-23 close
Zhipu 2513.HK +8.29% to HK$499.00 — China AI names rebound with MiniMax
Yahoo official Fri close: Zhipu (02513) HK$499.00 (+8.29% vs Thu 460.80; range 444.60–501.00; vol ~15.3m). Same-session HK AI rebound as MiniMax +16.7% / HSTECH +2.05%.
Implication: a-rank with MiniMax: HK China-AI beta bounced Fri after Thu wash. Soft constructive into Mon HSTECH — not a Korea same-session print.
finance.yahoo.com/quote/2513.HK/
rank aCaixin Global · 2026-10-23
Caixin: China’s smartphones get pricier as AI strains chip supply
Caixin In Depth (23 Oct): smartphone ASPs rising as AI features strain chip supply — China device-side AI hardware cost colour into weekend.
Implication: a-rank China AI hardware: ASP/cost pressure narrative supportive of tight advanced-chip demand read; soft adjacency for memory/logic pricing into Mon.
www.caixinglobal.com/2026-10-23/in-depth-chinas-smartphones-get-pricier-
rank bYonhap EN · 2026-10-23 15:36 KST
KOSPI +0.30% to 5,550.30 — bargain hunt after Thu −3.52% smash
Yonhap EN Fri: KOSPI +16.53 / +0.30% to 5,550.30 after opening −2.36%; retail turned net buyers after early selling. US overnight mixed (Nasdaq −2.6%). Won 1,324.6 /USD at 15:30 (+0.4 vs prior close).
Implication: Core b-rank: partial Friday bounce, not full Thu recovery. Watch Mon open follow-through vs Jukan $12B special-div media colour. Paper only.
en.yna.co.kr/view/AEN20261023006400320
rank bYonhap EN · KOSPI 200 list · 2026-10-23 close
Samsung ₩215,500 (+0.47%) / SK hynix ₩1,277,000 (+4.42%) — Solidigm stop bounce
Yonhap/KOSPI200 Fri official: Samsung ₩215,500 (+0.47%); SK hynix ₩1,277,000 (+54,000 / +4.42%) vs Thu ₩1,223,000. Bounce after Fri pre-open Solidigm Pre-IPO stop DART; Korean wires cite overhang relief. Do NOT invent Mon gap from Yahoo prev-close.
Implication: Chip beta partial reverse of Thu smash. Hynix desk: Fri official ₩1,277,000 is last cash into Mon. Weekend Jukan $12B special-div = media only (not DART). Paper only.
en.yna.co.kr/view/AEN20261023007400320
rank bYahoo ^HSI · HK Standard / wires · 2026-10-23 close
HSI +0.69% to 23,093.37; HSTECH +2.05% to 3,871.66
Yahoo Fri: Hang Seng 23,093.37 (+0.69% / +158.67 vs Thu 22,934.68). HK wires: Hang Seng TECH +2.05% to 3,871.66 after Thu −5.03% smash. Turnover ~HK$250bn.
Implication: Seoul + HK both bounced Fri after Thu risk-off — Asia tone less smashed into Mon open. b-rank.
finance.yahoo.com/quote/%5EHSI/
rank bMoneyToday EN · 2026-10-25
Solidigm IPO halt — shareholder protection vs funding-capacity dilemma
MoneyToday EN (25 Oct): SK hynix Solidigm Pre-IPO/IPO review stop crystallises duplicate-listing politics vs US NAND funding-path loss; cites National Assembly audit pressure and regulator duplicate-listing history.
Implication: b-rank Hynix/NAND weekend colour on already-known Fri DART MIXED keep — reinforces overhang-kill vs growth-capital two-way. Not a fresh Mon DART stamp.
www.mt.co.kr/en/stock/2026/10/25/2026102514593855645
rank cCaixin Global · 2026-10-23 / 24
Caixin week-ahead: Fed decision week; China fiscal revenue slips
Caixin (23–24 Oct): Week Ahead Oct 26–Nov 1 flags Fed rate decision + German President China visit; separate piece notes China’s fiscal revenue slip as land-sale slump deepens.
Implication: c-rank macro calendar into Mon–Fri: Fed week + China fiscal soft colour — backdrop not a single-name cash print.
www.caixinglobal.com/2026-10-23/the-week-ahead-oct-26nov-1-german-presid
Gaps: Yonhap EN economy index/RSS 404 — used Yonhap EN article URLs (AEN202610230064/074) + MoneyToday EN + Caixin + Yahoo closes. HKET EN not fetched usable; SCMP large page / skip deep paywall pull. KED Global korean-market 404 this pass. Finance MCP needsAuth — Korea attractive EMPTY (no invented Markets promotion). @alojohhardcore unread (protected; no browser). Home/Following unavailable (no computerUse). Naver dealTrend/program/shorts JSON blocked — Hynix Fri flows from Korean wires (inst buy / foreign sell colour) not share-count sourced. HSTECH Yahoo chart endpoint 404 — close 3,871.66 from HK wires + Standard. BN next funding 08:00 HKT may print after ~07:48 snap.
X · priority
2026-10-26 13:40 HKT / 2026-10-26 14:40 KST · priority + Home + HC · NEW since Mon morn ~07:50 HKT: n_new=5 priority (X MCP) + HC×1 + Home×8. Morn NEW → PRIOR. Sentiment mixed / medium. Home ok (@levturtle). Hardcore readable.
down@alojoh · 2026-10-26 13:36 HKT · NEW
AJ: SpaceX is a neocloud — most revenue from selling compute; Elon talking his book / throwing dirt at competitors (quotes Elon AI-DC debt shut). 'Elon turned into Scamath.'
Implication: TSLA / SpaceX Caution colour — AI-neocloud book-talk + competitor dirt into Mon US hours. Standing Caution only; no Avoid on public X. Soft for SpaceX-adjacent narrative premium.
x.com/alojoh/status/2114591866557473027
mixed@zephyr_z9 · 2026-10-26 11:27 HKT · NEW
Zephyr: Nvidia also cut NVLink bandwidth per GPU 1.8→1.5 TB/s (3.6→3 TB/s bidi); AMD now higher HBM (23.3 TB/s) + higher scale-up (1.8 TB/s).
Implication: MIXED NVDA interconnect / AMD competitive colour — soft NVLink lead narrative; constructive AMD HBM+scale-up optics vs Rubin/HBM4 pin cut stack. Not Korea cash same-session.
x.com/zephyr_z9/status/2114559541946011868
mixed@BowTiedBull · 2026-10-26 11:25 HKT · NEW
BowTiedBull: Re AI-cloud die / unused compute — nobody asked what happens when chips improve processing speed (they do constantly); follow-on: re-run compute much cheaper once learned.
Implication: MIXED AI-infra efficiency vs demand colour — soft for pure GPU-rent scarcity narrative; constructive for inference-cost deflation / agent builders. Complements Elon AI-DC debt shut tape.
x.com/BowTiedBull/status/2114559107156046304
down@jukan05 · 2026-10-26 07:49 HKT · NEW
Jukan: NVIDIA officially lowered HBM4 pin speed 11.7→9.6 Gbps (corr from 9.3). Zephyr: 'Hynix and Micron fucked up.'
Implication: DOWN Hynix/Micron HBM4 / NVDA stack colour — pin-speed cut undercuts prior HBM scarcity/ASP bull into Mon KR. Soft 000660/005930 HBM narrative vs morning special-div media. Paper only.
x.com/jukan05/status/2114504702264267235
down@zephyr_z9 · 2026-10-26 07:51 HKT · NEW
Zephyr: LMAOOOOO — Hynix and Micron fucked up (reacting to NVIDIA HBM4 pin-speed cut).
Implication: DOWN Hynix/Micron supplier optics on HBM4 pin miss — reinforces Jukan pin-speed print. Soft KR memory into Mon session.
x.com/zephyr_z9/status/2114505034088276351
mixed@alojohhardcore · 2026-10-26 13:38 HKT · NEW · hardcore
HC: Fewer compute providers help Elon — neocloud competition is cost of capital; nobody gets equity cheaper than he does. Quotes public AJ SpaceX-neocloud + Musk AI-DC debt shut / SpaceX $40B GPU debt.
Implication: MIXED/UP SpaceX / Elon compute vs peers — HC reinforces public AJ neocloud book-talk with cost-of-capital edge. Soft for capital-starved pure neoclouds. Standing TSLA Caution unchanged on public; HC colour only. No portal.
x.com/alojohhardcore/status/2114592410739052741
mixed@FirstSquawk · 2026-10-26 ~13:20 HKT · NEW · home
Home: FirstSquawk — China auto market seen ~2% growth in 2027 after this year’s sales slump.
Implication: MIXED China auto / EV demand colour into 2027 — soft volume recovery narrative. Paper only.
x.com/FirstSquawk/status/2114587646228074612
up@SawyerMerritt · 2026-10-26 ~13:13 HKT · NEW · home
Home: SawyerMerritt — largest public Tesla Cybercab / Model Y robotaxi cluster yet; Texas robotaxi registrations nearing 1,000.
Implication: UP TSLA robotaxi deployment colour — counters AJ Waymo-lead Caution optics on fleet count. Standing Caution unchanged; Home colour only.
x.com/SawyerMerritt/status/2114586009706938716
up@Tslachan · 2026-10-26 ~13:28 HKT · NEW · home
Home: Tslachan — Korean Air finished Starlink gear on 15 aircraft ~40 days after launch.
Implication: UP Starlink / KR aviation connectivity colour — SoftBank/SpaceX adjacency optics, not Korea cash same-session.
x.com/Tslachan/status/2114589607312728291
down@zhongwen2005 · 2026-10-26 ~13:31 HKT · NEW · home
Home: zhongwen2005 — China population about to drop below 1.4bn; end of 40-year demographic dividend.
Implication: DOWN long-run China growth / consumption colour — demographic headwind theme. Soft HK/China consumer beta optics. Paper only.
x.com/zhongwen2005/status/2114590326379954617
mixed@teortaxesTex · 2026-10-26 ~13:31 HKT · NEW · home
Home: teortaxesTex — frontier scoreboard: Grok 4.7 roughly matching Kimi K3; Gemini 4 Argon #3 RSI; Kimi K3.1 vs Sol 6.1 robotics (Kimi far more expensive).
Implication: MIXED AI model competition colour — continues open/closed race + China OSS cost narrative. Soft single-name.
x.com/teortaxesTex/status/2114590610283712526
mixed@FT · 2026-10-26 ~13:24 HKT · NEW · home
Home: FT — Guernsey, Jersey and other havens taking revenue from the global minimum tax.
Implication: MIXED tax / haven revenue colour — not desk core; light macro only.
x.com/FT/status/2114588653062148218
mixed@wallstengine · 2026-10-26 ~13:35 HKT · NEW · home
Home: wallstengine — US calendar 26 Oct: Chicago Fed national activity, Dallas Fed manufacturing, 2y note auction; earnings VZ/MED/MMYT/Cadence.
Implication: MIXED US macro/earnings calendar colour into Mon US session. Paper only.
x.com/wallstengine
mixed@FirstSquawk · 2026-10-26 ~13:35 HKT · NEW · home
Home: FirstSquawk — Dollar easing toward 101.50 as safe-haven demand fades and Fed-pause odds rise.
Implication: MIXED/UP risk — softer USD / safer risk-on optics into Mon US. Soft for USD longs; mild constructive beta.
x.com/FirstSquawk
mixed@jukan05 · 2026-10-26 07:30 HKT · PRIOR
PRIOR (Mon morn): Jukan: Daishin: CSPs/AI labs shelved lower-stack HBM (4-high/6-high) for low-end inference; 8-high again the path.
Implication: MIXED/UP HBM stack mix — demand consolidating on 8-high vs prior low-stack inference ask. Soft for low-stack narrative; constructive for Hynix/Samsung HBM product mix into Mon open.
x.com/jukan05/status/2114499959563370930
up@jukan05 · 2026-10-26 06:48 HKT · PRIOR
PRIOR (Mon morn): Jukan: TW media: iPhone Duo sold out launch day; Apple asks suppliers +30% orders.
Implication: UP Apple supply-chain / memory adjacency colour into Mon — constructive for KR/TW component names if order bump sticks. Paper only.
x.com/jukan05/status/2114489196501192739
up@jukan05 · 2026-10-26 06:21 HKT · PRIOR
PRIOR (Mon morn): Jukan: SK HYNIX PLANS $12B SPECIAL DIVIDEND = 80% of gains from Kioxia stake sale — local KR media.
Implication: UP 000660 capital-return colour into Mon open (media not DART). Complements Oct 28 IR / buyback-cancel narrative. Confirm via KIND/DART before sizing — not a filing stamp yet.
x.com/jukan05/status/2114482386914415096
mixed@jukan05 · 2026-10-25 22:17 HKT · PRIOR
PRIOR (Mon morn): Jukan: Cybersecurity stocks caught up with semis on YTD performance.
Implication: MIXED rotation colour — cyber catching AI/semis YTD after JP cyber surge + Quest hack week. Soft crowded AI beta optics.
x.com/jukan05/status/2114360604215673239
up@jukan05 · 2026-10-25 20:29 HKT · PRIOR
PRIOR (Mon morn): Jukan: Dylan Patel: Anthropic already building custom chip, aiming half the time OpenAI took.
Implication: UP custom-ASIC / foundry adjacency colour — more AI silicon buyers beyond NVDA stack. Not Korea cash same-session.
x.com/jukan05/status/2114333487201440066
up@jukan05 · 2026-10-25 13:42 HKT · PRIOR
PRIOR (Mon morn): Jukan: TW server maker asked CXMT for DDR5; CXMT declined to sell — rebuttal to rock-bottom dump narrative.
Implication: UP KR memory pricing/discipline colour vs CXMT dump fears — constructive for Samsung/Hynix ASP narrative into Mon.
x.com/jukan05/status/2114231027262759400
mixed@jukan05 · 2026-10-25 10:43 HKT · PRIOR
PRIOR (Mon morn): Jukan: KR retail net ~$300m into 14 single-stock leveraged products on Samsung + SK hynix Oct 1–.
Implication: MIXED KR retail leverage rebuild after Thu smash — fuel for bounce OR forced-unwind risk on another down day.
x.com/jukan05/status/2114186093784694964
up@jukan05 · 2026-10-25 09:20 HKT · PRIOR
PRIOR (Mon morn): Jukan: KR media: Exynos 2700 beat Qualcomm latest in Samsung internal tests.
Implication: UP Samsung mobile AP / Exynos colour — soft for QCOM adjacency; constructive 005930 narrative if confirmed.
x.com/jukan05/status/2114165051343180092
mixed@jukan05 · 2026-10-24 12:30 HKT · PRIOR
PRIOR (Mon morn): Jukan: zartbotF on DeepSeek open-sourcing ‘money-printing machine’ — 80% GM via org design.
Implication: MIXED China OSS model competitive colour — continues DeepSeek cost/margin narrative into HK AI names.
x.com/jukan05/status/2113850503256039664
up@jukan05 · 2026-10-24 07:07 HKT · PRIOR
PRIOR (Mon morn): Jukan: TW media: Intel/AMD/NVDA combined $5B advance payments to TW substrate makers (Intel $3B, AMD/NVDA $1B each).
Implication: UP substrate / ABF supply-chain colour — advance-pay lock-in vs capacity tightness. Complements SEMCO/Nittobo GF thread.
x.com/jukan05/status/2113769187114090509
down@zephyr_z9 · 2026-10-25 05:25 HKT · PRIOR
PRIOR (Mon morn): Zephyr: We are going to see a lot of consolidation next year. Most of them will not survive. (re neo-lab GPU-capacity resell model)
Implication: DOWN neo-lab / AI-infra funding colour — consolidation + survival filter into 2027. Soft for pure-play AI raise names.
x.com/zephyr_z9/status/2114106143341678710
mixed@zephyr_z9 · 2026-10-25 07:40 HKT · PRIOR
PRIOR (Mon morn): Zephyr: Moonshot will release Kimi K3.1 Cyber soon via Fireworks/Modal/Baseten.
Implication: MIXED China OSS / cyber-capability colour — continues K3.1 Pro narrative; soft closed-inference moat optics.
x.com/zephyr_z9/status/2114140095372779869
up@zephyr_z9 · 2026-10-24 08:06 HKT · PRIOR
PRIOR (Mon morn): Zephyr: Nvidia uses Ibiden more.
Implication: UP Ibiden / substrate adjacency colour under NVDA packaging. Not Korea cash.
x.com/zephyr_z9/status/2113784177338491147
down@alojoh · 2026-10-25 23:09 HKT · PRIOR
PRIOR (Mon morn): AJ: Why did Elon use that $1B to buy back TSLA? (quotes CNN/CBS parent stake colour)
Implication: TSLA Caution reinforced — capital-allocation / narrative-control colour. Standing Caution only.
x.com/alojoh/status/2114373747113349245
DART · material KR
Last-updated 2026-10-26 15:21 KST (Asia/Seoul) · KEEP×16: BNK Financial Group 138930 UP 1-3% · PC Direct 051380 UP 1-3% · IPARK Hyundai Development 294870 UP 1-3% · IPARK Hyundai Development 294870 UP 1-3% · HD Hyundai Marine Engine 071970 UP 1-3% · Metacare 118000 MIXED 1-3% · Deutsche Motors 067990 UP 3-8% · Deutsche Motors 067990 MIXED 1-3% · Jeju Bank 006220 UP 1-3% · Ilsung Construction 013360 UP 1-3% · EuBiologics 206650 UP 1-3% · Tomato System 393210 UP 3-8% · IPARK Hyundai Development 294870 UP 1-3% · GI Tech 382480 UP 1-3% · SK Hynix 000660 MIXED 1-3% · Senko 347000 UP 1-3%
up 1-3%BNK Financial Group 138930 · KOSPI · 2026-10-26 15:13 KST · p≈16%
New treasury buy trust ₩60.0bn / ~4.39m sh (~1.43% OS / ~1.65% mcap) · cancel within 1yr · KB Securities
Mon 26 Oct 15:13 KST: BNK boards a new ₩60.0bn treasury-buy trust (~4.39m sh / ~1.43% of OS / ~1.65% of ~₩3.63tn mcap) via KB Securities for 2 Nov 2026–29 Jan 2027, with cancel-within-1-year language under the Commercial Act — a real float-shrink bid, not hold-after/ESOP. UP: cash bid + mandatory cancel removes supply on a liquid bank holding. 1-3%: size is KT&G/Hana-small class on a ₩~tn financials name (refuse 3-8%). p≈16%: live already −13.39% on today’s Q3 crater with only ~15–20 min cash left — same-session leftover of the 1-3% UP band is thin overnight/into-close grind only, not a reverse of the earnings dump.
Why magnitude: ~1.43% OS / ~1.65% mcap cancel-within-1yr trust on liquid bank holding → UP 1-3%; refuse 3-8% (KT&G/Hana-small). · Why probability: Live −13.39% after Q3 crater + stamp ~15:13 near cash close → ~16% thin leftover / overnight only; don’t treat as earnings reverse.
DART
up 1-3%PC Direct 051380 · KOSDAQ · 2026-10-26 14:42 KST · p≈22%
Open-market treasury buy ₩500.0m / 364,698 sh (~2.38% OS / ~2.35% mcap) · hold ≥6mo · employee reward + shareholder value
Mon 26 Oct 14:42 KST: PC Direct boards a soft open-market treasury buy of ₩500.0m / 364,698 shares (~2.38% of OS / ~2.35% of ~₩21.3bn mcap) for employee performance reward and shareholder-value stability, to run 27 Oct 2026–26 Jan 2027 via Shinhan on KOSDAQ, with a ≥6-month hold after the final buy and no cancel language. UP: cash bid into the float removes supply and signals board support on a thin KOSDAQ name. 1-3%: size clears the soft ~2% mcap floor but soft hold-after/ESOP form (not cancel-bound) refuses 3-8% (Mediance/Inhwa-small class). p≈22%: live only +1.09% so most of the 1-3% band is still unused same-session leftover; soft form keeps p modest.
Why magnitude: ~2.38% OS / ~2.35% mcap soft OM treasury with hold≥6mo + ESOP/shareholder-value purpose → UP 1-3%; refuse 3-8% (not cancel-bound). · Why probability: Live +1.09% near flat after stamp → ~22% unused leftover of the 1-3% UP band; soft form caps confidence.
DART
up 1-3%IPARK Hyundai Development 294870 · KOSPI · 2026-10-26 13:51 KST · p≈12%
2026 new-order outlook raised ₩6,533.1bn→₩10,094.9bn (+₩3,561.8bn) · sales guide ₩4,233.6bn unchanged
Mon 26 Oct 13:51 KST: IPARK lifts its 2026 consol new-order fair-disclosure outlook from ₩6,533.1bn to ₩10,094.9bn (+₩3,561.8bn / +54.5%) while leaving sales at ₩4,233.6bn — a large backlog-book raise, not a same-year revenue rewrite. UP: bigger order-book guidance adds multi-year construction colour on top of today’s Gunpo contractor and Sinwol preferred-negotiator stamps. 1-3%: liquid KOSPI builder; backlog/outlook ≠ near-term cash (progress-bill); refuse face/mcap trap on a ₩3.56tn raise vs ~₩1.48tn mcap (IPARK construction rule). p≈12%: live already +2.51% (session high ₩23,200) into the 1-3% band after Gunpo+Sinwol — thin same-session leftover; don’t-chase.
Why magnitude: ₩3.56tn new-order outlook raise on liquid builder is backlog colour not cash — UP 1-3% refuse face/mcap; sales guide unchanged. · Why probability: Live +2.51% already in-band after Gunpo+Sinwol same session → leftover ~12% thin grind only.
DART
up 1-3%IPARK Hyundai Development 294870 · KOSPI · 2026-10-26 13:37 KST · p≈18%
Sinwol 7-dong Zone 1 redevelopment preferred negotiator · ~₩937.5bn (~22.6% sales / ~63.8% mcap) · not yet contractor
Mon 26 Oct 13:37 KST: IPARK is named preferred negotiator on Sinwol 7-dong Zone 1 redevelopment with tender-notice works ~₩937.5bn (~22.6% of 2025 consol sales / ~63.8% of ~₩1.47tn mcap) — but the filing stresses this is not contractor status yet (post-auction negotiated path; union AGM still ahead; face can change). UP: large Seoul residential pipeline option adds backlog colour on top of this morning’s Gunpo contractor stamp. 1-3%: IPARK/construction rule — refuse face/mcap trap; preferred-only is softer than a signed contractor award and has zero advance / multi-year progress-bill. p≈18%: live already +1.59% (and morning Gunpo already moved the tape; session high ₩23,450) so most of the small band is chewed — thin same-session leftover only.
Why magnitude: Preferred-negotiator only on ~22.6% sales / ~63.8% mcap housing face with amount TBD + AGM still required → UP 1-3% refuse face/mcap; softer than this morning’s Gunpo contractor keep. · Why probability: Live +1.59% into the 1-3% band + Gunpo already in the tape this session → leftover ~18% thin grind only.
DART
up 1-3%HD Hyundai Marine Engine 071970 · KOSPI · 2026-10-26 12:00 KST · p≈28%
J Ocean ship-engine supply ₩30.201bn (~7.5% sales / ~2.5% mcap) · advance · through Jun 2028
Mon 26 Oct 12:00 KST: HD Hyundai Marine Engine books a named J Ocean ship-engine supply for ₩30.201bn (~7.5% of 2025 consol sales / ~2.5% of ~₩1.20tn mcap) through 10 Jun 2028, with advance (down/interim/residual on the engine schedule). UP: clean named non-affiliate marine-engine CP adds multi-year backlog — same class as this name’s 22 Oct Jiangsu keep. 1-3%: sales%≠band; ~2.5% mcap + ~20-month drip clears a small move but refuses 3-8%. p≈28%: live ~−2.35% so most of the 1-3% UP band is still unused same-session leftover.
Why magnitude: ~7.5% sales / ~2.5% mcap named ship-engine PO with advance + ~20mo drip → 1-3%; sales%≠band, refuse 3-8%. · Why probability: Live ~−2.35% near soft shortly after stamp → ~28% unused same-session leftover of the 1-3% UP band.
DART
mixed 1-3%Metacare 118000 · KOSPI · 2026-10-26 11:58 KST · p≈12%
Q3 consol prelim OP ₩1.144bn (+861% YoY / +44% QoQ) · sales ₩19.45bn (+81% YoY) · 9M NI −34% YoY
Mon 26 Oct 11:58 KST: Metacare prints consol Q3 prelim with OP ₩1.144bn up 861% YoY and 44% QoQ on sales ₩19.45bn (+81% YoY / +122% QoQ), but 9M controlling NI is still −45% YoY and the separate parent is a −₩65m NI loss — a two-way earnings tape on a ~₩27bn micro-cap. MIXED: strong Q3 operating recovery vs soft 9M controlling NI and a still-lossy parent. 1-3%: micro-cap can gap, but the YoY/QoQ OP beat fights the soft 9M NI and separate loss — refuse clean UP / mid-band. p≈12%: tape spiked to ₩1,600 then live ~−7.9%, so both sides of a small band are already spent — don’t-chase; leftover is fade/overnight residual only.
Why magnitude: Q3 OP +861% YoY/+44% QoQ vs 9M controlling NI −45% YoY + separate NI loss on ~₩27bn KOSPI micro-cap → MIXED 1-3%; refuse clean UP / 3-8%. · Why probability: Spiked to ₩1,600 then live ~−7.9% → both sides of the 1-3% band spent; leftover ~12% fade/overnight only; don’t-chase.
DART
up 3-8%Deutsche Motors 067990 · KOSDAQ · 2026-10-26 11:26 KST · p≈30%
Already-held treasury cancel 1,030,223 sh (~3.53% OS) · book ₩4.917bn · due 6 Nov
Mon 26 Oct 11:26 KST: Deutsche Motors will retire its entire 1.03m-share treasury block (~3.53% of OS / book ₩4.917bn ≈4.5% of ~₩109bn mcap) on/around 6 Nov — permanent float shrink with no fresh cash bid. UP: already-held cancel removes overhang and mechanically lifts EPS/book per share for remaining holders (Shinsegae I&C / Handsome-class mid-cap cancel). 3-8%: ~3.5% OS on a ~₩0.11tn KOSDAQ auto dealer clears mid-band; refuse 8%+ because there is no open-market cash bid and size is not teens-of-OS. p≈30%: live ~−2.34% (paired soft QoQ earnings stamp one minute earlier) so the cancel is not yet chased — most of the 3-8% UP band is still unused same-session leftover.
Why magnitude: Already-held treasury cancel ~3.53% OS / ~4.5% mcap book on ~₩0.11tn KOSDAQ → 3-8%; refuse 8%+ (no new cash bid). · Why probability: Live ~−2.34% with cancel unchased after paired soft earnings → ~30% unused leftover of the 3-8% UP band.
DART
mixed 1-3%Deutsche Motors 067990 · KOSDAQ · 2026-10-26 11:25 KST · p≈20%
Q3 consol prelim OP ₩11.766bn (+85.9% YoY / −8.8% QoQ) · sales ₩690.7bn (+2.3% YoY)
Mon 26 Oct 11:25 KST: Deutsche Motors Q3 consol prelim shows OP ₩11.766bn up 85.9% YoY but down 8.8% QoQ on sales ₩690.7bn (+2.3% YoY / −2.9% QoQ), while NI/controlling NI collapse ~88–89% QoQ from a soft pretax print — a two-way earnings tape, not a clean beat. MIXED: strong YoY operating recovery vs clear sequential OP/NI fade (LS Eco-class sequential miss dominates the near-term read). 1-3%: mid-cap auto dealer; YoY OP surprise is real but QoQ miss + liquid-enough KOSDAQ refuse a mid-band. p≈20%: live already ~−2.34% minutes after stamp, so much of the soft side of the 1-3% MIXED band is already in the tape — leftover is modest same-session / next-open residual only.
Why magnitude: YoY OP +86% vs QoQ OP −9%/NI collapse on ~₩0.11tn KOSDAQ dealer → MIXED 1-3%; refuse clean UP / 3-8%. · Why probability: Live ~−2.34% already prints much of the soft side → ~20% leftover of the 1-3% MIXED band.
DART
up 1-3%Jeju Bank 006220 · KOSPI · 2026-10-26 11:17 KST · p≈32%
Q3 consol prelim OP ₩6.373bn (+30.6% YoY / +27.5% QoQ) · sales ₩104.7bn (+10.1% YoY)
Mon 26 Oct 11:17 KST: Jeju Bank prints consol Q3 prelim with OP ₩6.373bn up 30.6% YoY and 27.5% QoQ on sales ₩104.7bn (+10.1% YoY / flat QoQ), and 9M OP already +48% YoY — a clean sequential and YoY operating beat, not a one-off NI story. UP: operating leverage on a regional bank mid-cap (~₩312bn) with both YoY and QoQ OP expanding. 1-3%: liquid-ish KOSPI bank; earnings surprise is real but banks rarely clear a mid-band on one print — refuse 3-8%. p≈32%: live ~-0.72% near unchanged minutes after stamp, so most of the 1-3% band is still unused same-session leftover.
Why magnitude: Clean Q3 OP +31% YoY / +28% QoQ on a ~₩0.31tn KOSPI regional bank → 1-3%; refuse 3-8% on bank liquidity/compression. · Why probability: Live ~-0.72% near flat shortly after stamp → ~32% unused same-session leftover of the 1-3% band.
DART
up 1-3%Ilsung Construction 013360 · KOSPI · 2026-10-26 11:14 KST · p≈12%
Hwarang housing small rebuild Guro ₩54.678bn (~12.1% sales / ~77% mcap) · zero advance · 27mo progress-bill
Mon 26 Oct 11:14 KST: Ilsung wins the Hwarang Guro small rebuild as contractor at ₩54.678bn ex-VAT (~12.1% of 2025 consol sales / ~77% of ~₩71.4bn mcap) with zero advance and a ~27-month progress-bill clock from groundbreaking. UP: new named Seoul housing award adds backlog on a thin builder — not an affiliate echo. 1-3%: sales%≠band and face/mcap trap — construction + zero advance + multi-year drip (IPARK/Seohan class) refuses 3-8%/8%+ despite huge face/mcap. p≈12%: live already ~+2.48% has largely printed the 1-3% band — don’t-chase; leftover is fade/overnight residual only.
Why magnitude: ~12% sales / ~77% mcap rebuild award but zero advance + 27mo progress-bill → 1-3%; refuse face/mcap 8%+. · Why probability: Live ~+2.48% already at/through the 1-3% band → ~12% don’t-chase leftover only.
DART
up 1-3%EuBiologics 206650 · KOSDAQ · 2026-10-26 10:42 KST · p≈22%
UNICEF Mozambique Euvichol-S oral cholera vaccine ₩10.461bn (~7.0% sales / ~3.9% mcap) · zero advance · pay ≤30d
Mon 26 Oct 10:42 KST: EuBiologics books a UNICEF Mozambique purchase order for oral cholera vaccine Euvichol-S at ₩10.461bn ex-VAT (~7.0% of 2025 separate sales / ~3.9% of ~₩268bn mcap) through 31 Jan 2027, with no advance but cash due within 30 days after documents — and the filing flags same-type UNICEF work in the last 3 years. UP: named global-agency offtake on a short (~3-month) delivery clock with near-term receivable, not an affiliate restatement. 1-3%: sales%≠band; ~3.9% mcap clears a small move but refuses 3-8% on size and zero advance. p≈22%: live still ~+0.6% near unchanged ~10 min after stamp, so most of the 1-3% band is unused same-session leftover.
Why magnitude: ~7.0% sales / ~3.9% mcap short-cycle UNICEF PO with zero advance → 1-3%; sales%≠band, refuse 3-8%. · Why probability: Live ~+0.6% near flat shortly after stamp → ~22% unused same-session leftover of the 1-3% band.
DART
up 3-8%Tomato System 393210 · KOSDAQ · 2026-10-26 10:28 KST · p≈10%
DGIST next-gen integrated IT system ₩7.273bn (~27.7% sales / ~11.6% mcap) · 29.5% advance · through Oct 2028
Mon 26 Oct 10:28 KST: Tomato System wins a DGIST next-gen integrated IT-system build for ₩7.273bn ex-VAT (~27.7% of 2025 consol sales / ~11.6% of ~₩63bn mcap) through Oct 2028, with 29.5% cash after the kickoff report (~₩2.15bn / ~3.4% of mcap near-term). UP: named public-sector systems job with real advance on a thin KOSDAQ name — not affiliate noise. 3-8%: ~11.6% mcap + ~30% advance clears mid-band; refuse 8%+ on 2-year drip after the first tranche. p≈10%: live already +8.6% ~20 min after stamp — first clip spent the band; leftover is fade/overnight residual only (don’t-chase).
Why magnitude: ~27.7% sales / ~11.6% mcap named DGIST build with 29.5% advance → 3-8%; refuse 8%+ on multi-year drip after first tranche. · Why probability: Live already +8.6% ~20 min after stamp → band largely printed; leftover ~10% fade/overnight only; don’t-chase.
DART
up 1-3%IPARK Hyundai Development 294870 · KOSPI · 2026-10-26 10:27 KST · p≈16%
Gunpo Geumjeong Station Area Zone 1 redevelopment contractor · planned ₩448.2bn (~10.8% sales / ~30.6% mcap) · amount TBD at main contract
Mon 26 Oct 10:27 KST: IPARK is selected contractor for Gunpo Geumjeong Station Area Zone 1 redevelopment with planned works ₩448.2bn (~10.8% of 2025 consol sales / ~30.6% of ~₩1.47tn mcap) — amount still to be fixed at the main contract, and a 2026-10-14 voluntary filing already telegraphed the process. UP: named large residential redevelopment book adds backlog. 1-3%: IPARK/construction rule — refuse face/mcap trap on progress-bill multi-year housing with no signed lump sum yet; confirmation of an Oct 14 path, not a fresh cash print. p≈16%: live already +1.4% so most of the small band is in; leftover is thin same-session grind / overnight confirmation only.
Why magnitude: Planned ~30.6% mcap / 10.8% sales housing redevelopment with amount TBD + multi-year progress-bill → UP 1-3% only (refuse face/mcap); Oct 14 prior = confirmation stamp. · Why probability: Live already +1.4% into the 1-3% band + known Oct 14 path → leftover ~16% thin grind/overnight only.
DART
up 1-3%GI Tech 382480 · KOSDAQ · 2026-10-26 10:12 KST · p≈18%
KCC Glass glass-inspector supply ₩3.157bn (~8.7% sales / ~5.6% mcap) · 30% advance through May 2027
Mon 26 Oct 10:12 KST: GI Tech books a named KCC Glass original-plate glass inspector new/retrofit supply for ₩3.157bn ex-VAT (~8.7% of 2025 consol sales / ~5.6% of ~₩57bn mcap) through 31 May 2027, with 30% cash after contract (then 60%/10% on install/commissioning). UP: clean named non-affiliate industrial CP with real near-term cash on a thin KOSDAQ name — not affiliate restatement. 1-3%: sales%≠price band; ~5.6% mcap equipment job with partial advance clears 1-3% but refuses 3-8%. p≈18%: live already −4.3% (opposite of the call) so same-session leftover is thin; treat as overnight residual, don’t-chase the stamp into a selling tape.
Why magnitude: ~8.7% sales / ~5.6% mcap named PO with 30% advance → 1-3%; sales%≠band, refuse 3-8%. · Why probability: Live already −4.3% opposite the UP call → leftover ~18% overnight residual only; don’t-chase mid-session.
DART
mixed 1-3%SK Hynix 000660 · KOSPI · 2026-10-26 09:59 KST · p≈30%
Clarifies Dong-A ₩16tn Kioxia special-dividend rumor as unconfirmed · board return plan due at Q3 IR 28 Oct
Mon 26 Oct 09:59 KST: SK Hynix answers Dong-A’s “₩16tn special dividend from Japan Kioxia stake gains” story with an unconfirmed clarification — return options are under review, nothing locked, and any extra shareholder-return plan goes to the board then lands at the Tue 28 Oct Q3 IR. MIXED: kills the specific ₩16tn special-div certainty that weekend media had been trading, while still confirming a board-backed return announcement is coming in ~2 sessions — classic mega-cap two-way (rumor overhang kill vs constructive return path), same framing as the Fri Solidigm Pre-IPO stop. 1-3%: ~₩942tn mega-cap band compression; clarification is not a sized buyback/div print. p≈30%: live already ~+1% mid-session so same-session leftover is modest; primary unused clock is into Tue 28 Oct IR/re-disclosure (pre-event leftover, not a chase of today’s blip).
Why magnitude: Mega-cap (~₩942tn) clarification without a locked ₩ amount → call-rules 1-3% band compression; never 8%+ off a rumor answer. · Why probability: Live already ~+1% mid-session; same-session leftover modest (~30%). Cleaner unused clock is Tue 28 Oct Q3 IR / re-disclosure date.
DART
up 1-3%Senko 347000 · KOSDAQ · 2026-10-23 17:15 KST · p≈28%
Busan Technopark digital-twin platform supply ₩4.591bn (~12.5% sales) through Jun 2028 · zero advance
Fri 23 Oct 17:15 KST after-close: Senko books a named Busan Technopark digital-twin industrial-control platform supply for ₩4.591bn ex-VAT (~12.5% of 2025 consol sales / ~7% of ~₩64bn mcap) through 30 Jun 2028, with zero advance and annual sequential drawdowns (~₩2.2bn / ₩3.0bn / ₩1.17bn VAT-incl project tranches; Senko 79.3% consortium share with sub UNE already in the disclosed amount). UP: clean named public-sector CP adds real multi-year backlog on a thin KOSDAQ name — not affiliate restatement. 1-3%: sales%≠price band; zero near-term cash + ~20-month drip refuse the face/mcap trap (Inticube/Seohan-class haircut; refuse 3-8%). p≈28%: after-close Fri stamp into Mon morning pack is next-session residual awareness, not live edge (19 Oct Mon-pack rule).
Why magnitude: Named PO ~12.5% sales/~7% mcap but zero advance + multi-year annual drip → call-rules 1-3%; refuse 3-8% face/mcap trap. · Why probability: Fri 17:15 after-close → Mon morning pack = residual awareness only (~28%); not intraday live edge.
DART
BN vs HL (Korea pair)
Live marks pulled 07:48 HKT Mon (BN via www.binance.com/fapi/v1 — fapi.binance.com geo-blocked; HL api.hyperliquid.xyz/info metaAndAssetCtxs default + dex=xyz; fundingHistory 24h). Research series, paper only.
| Pair | BN−HL (bp) | BN lastFR | HL funding/hr | HL 24h sum | mark vs index/oracle bp (BN / HL) |
|---|
| BTCUSDT / BTC | +1.10 | 1.8920e-05 | 2.3784e-06 | +2.455e-04 | -6.19 / -4.75 |
| ETHUSDT / ETH | +5.88 | 7.7890e-05 | 3.0279e-06 | +2.887e-04 | -7.76 / -6.03 |
| SOLUSDT / SOL | -0.26 | 9.0200e-05 | 4.6980e-06 | +2.350e-04 | -6.22 / -5.19 |
| SKHYUSDT / xyz:SKHY | +23.15 | 0.0000e+00 | 1.0450e-04 | +4.037e-04 | -40.02 / -38.55 |
| SKHYNIXUSDT / xyz:SKHX | +21.57 | 4.9600e-06 | 1.5025e-04 | +3.700e-04 | -55.35 / -50.69 |
Marks: BN SKHY 139.85 / HL 139.53; BN SKHYNIX 963.78 / HL SKHX 961.71. SKHY/SKHX BN−HL spreads +23.2 / +21.6 bp. Last BN prints: SKHYUSDT Sun 16:00 +0.00e+00 · Mon 00:00 +2.40e-04; SKHYNIXUSDT Mon 00:00 +0.00e+00 · Mon 04:00 +0.00e+00. HL 24h: xyz:SKHY +4.04e-04, xyz:SKHX +3.70e-04. HL SKHY mark -38.6 bp / SKHX -50.7 bp vs oracle.
Next funding: Binance next print 08:00 HKT (00 UTC) relative to this 07:48 snap; Hyperliquid hourly. No HL SKHYNIX — hedge is xyz:SKHX. Usable spreads: SKHY / SKHYNIX mark gaps (majors tight).
Estimated carry (per 8h at live rates; BN 4h×2 for SKHYNIX; HL×8): BTC ≈ 0.00 bp |diff| · ETH ≈ 0.54 bp |diff| · SOL ≈ 0.53 bp |diff| · SKHY ≈ 8.36 bp |diff| · SKHYNIX ≈ 11.92 bp |diff|. Snapshot only — fees/inventory/liquidation can erase it. Paper only; no live orders.