What Worked – As it was Chinese New Year this week, the numbers are really pretty much all over the place. Hong Kong only had 2 trading days and that was dominated by a sell-off in Value and High Beta names. Evergrande Health Industry was down 23% and EO Technics was down 20%. Large-cap names did slightly outperform in Hong Kong. India was open for most of the week, but the results were the same. Clear rotation away from Value / Beta and into Quality. Procter & Gamble Hygiene was up 6% and Apollo Tyrese was up 9%. South Korea only had 2 trading days this week. But high dividend yield and large-cap names dominated. High Div yield names that did well were Daewoo International was up 10% and KIA Motors was up 4%. Singapore was open for 3 days but really nothing stood out other than a selloff in high Beta names. Golden Agri-Resource was down 7% and Noble Group was also down 9%.
Who Moved – 73 names spiked on volume this week with the majority of volume spikes coming in India. This is no surprise as most of the other regions did not have a full week due to the New Year. On the positive side, Philex Mining was up 26%, Petron Corp was up 14% and Big C Supercenter was up 9%. On the negative side, Punjab National Bank was down 21%, Indo Count Industries was down 23% and Tata Motors was down 13%.
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