What Worked Asia - 18 Mar 2016 - Generally Value worked across the Region except for HK where pretty much nothing really stood out

What Worked – In China Value and Size were the strongest factors this week, while Quality names were hurt. Logan Property was up 15% and FIH Mobile was up 13%. In Hong Kong, pretty much nothing stood out and there was only a slight move into large-cap names. China Goldjoy was up 35% and Xinyi Glass was up 14%. Singapore was all about Beta and Momentum. High Beta names that were up were Yoma Strategic Holdings up 18% and Sinarmas Land 12%. India saw a clear move into Value and Beta and away from Quality. ICICI Bank was up 7% and NMDC Limited was up 5%.

South Korea also saw a move into Value and away from Quality. Daewoo International was up 13% and Samsung Card was up 10%. Dividend Yield and large cap dominated in Taiwan this week. Taiwan Paiho was up 8% and CTCI Corp was up 9%. In Thailand OP growth and EPS revision drove the market while large-cap names suffered. Thai Airways was up 16% and Vibhavadi Medical was up 9%. In Malaysia there was a clear move away from Quality and into Value names. Eco World Development was up 12% and Mah Sing Group was up 7%.

Who Moved – 198 names moved on volume this week. A good number of the volumes spikes came in Taiwan and Thailand. At the Sector Level, the Process Industries and Finance Sectors came in with a good number of volume spikes. On the positive side, Mason Financial Holdings was up 26% and Globe Telecom was up 24% and Sunny Optical was up 19%  this week. On the other side, G-Resources Group was down 23%, Pfizer India was down 15% and Kong Sun Holdings was down 11%.


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