What Worked Japan - 19 Feb 2016 - Value / Beta bounced hard on very strong volume

What WorkedHuge bounce in Value and high Beta names. With TOPIX bouncing 8% this week, Value (particularly PE), Beta and names with a high percent of Foreign investors really did well this week. High Beta and names with a high % of Foreign Investor have not done this well in the last 2 years. The last time PE did this well was last October. Value names that did well this week were Tokyo Tatemono up 26%, Nabtesco Corp was up 21% and Capcom was up 22%. High Beta names  that did well were Sumitomo Rubber Industries up 29%, Sumco up 27% and IHI Corp up 24%. Names with a high percent of Foreign Investors that outperformed were Softbank was up 22%, Capcom was up 22% and ASATSU-DK was up 22%. There was a slight sell off in Retail names as they have done well pretty much every week since the beginning of the year.

Who MovedA very good sign was that this week’s move was on very strong volume. 210 names moved on volume this week. 189 names moved up on strong volume and only 21 names moved down on volume this week. Looking at the names that moved down, Yamazaki Bread was down 12%, Trend Micro was down 9% and Hokuetsu Kishu was down 7%. On the positive side, aside from ASATSU-DK all the above names moved on volume. Other names that moved up on strong volume were DMG MORI was up 19%, Itochu was up 17% and Pola Orbis up 18%.

Summary

Japan Factor Performance

PDF Report available here: Download


Log in to comment