What Worked Asia - 04 Mar 2016 - Most of the Region bounced on Value and Beta

What WorkedValue bounced in pretty much every region in Asia this week. In China, Beta and Value did well at the expense of Quality. Hydoo International was up 23% and Jiangnan was up 19%. In Hong Kong it was pretty much the same with PBR the strongest factor and Quality hurting. High ROE names that did not do well this week were KuangChi Science down 9% and Pacific Textiles down 6%. Beta was the strongest factor in Singapore, followed by PE. Super Group was up 18% and Sembcorp Industries was up 17%. In South Korea, Quality was hurt badly and as with the other regions Beta did well. Ottogi was down 10% and Hansae Yes24 was down 9%.

Malaysia was more about PE than Beta this week. AirAsia was up 22% and SapuraKencana was up 6%. India was the same as other regions with Beta and Value outperforming. Inox Wind was up 34% and DLF Limited was up 23%. Thailand was really the only region were Value and Beta were not a factor and Size dominated. Total Access Communication was up 17% and Bank of Ayudhya was up 10%.

Who Moved 208 names moved on volume this week. A good number of the names came in the Financial and Consumer Non-Durable Sectors. At the Country level, Thailand, Indonesia and India pick up a good portion of the volume spikes. On the positive side, AirAsia was up 22%, China Resource Beer was up 22% and DoubleDragon Properties was up 21%. On the negative side, Sihuan Pharma was down 54%, Philippine Long Distance was down 19% and Global Brands Group was down 11%.


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