What Worked – It is very rare, but really nothing stood out across the region. In Hong Kong/China, PBR worked a little but was not really that strong. In Hong Kong, China Agri-Industries was up 8% and United Energy was up 8%. In Singapore, the only factor that really worked this week was Beta. China Everbright Water was up 8% and Yoma Strategic Holding was up 5%. In South Korea there was a slight bias to Value, but again it was not that strong. Daewoo Engineering & Construction was up 11% and Woori Bank was up 9%.
In India, Value actually did well relative to the other regions. Vedanta Limited was up 13% and Housing Development & Infrastructure was up 8%. Indonesia saw the strongest moves in Asia this week. Both Value and Beta did well in Indonesia this week. Bank Permata was up 31% and Aneka Tambang was up 10%. In Malaysia there was an slight sell off in large-cap names. Bumi Armada was up 10% and Fraser & Neave Holding was up 5%.
Who Moved – 137 names moved on Volume this week. Most of the Volume Spikes came in HK/China and were pretty well distributed across the different sectors. On the positive side, Bank Permata was up 31%, Intime Retail was up 19% and Hitachi Home & Life was up 18%. On the other side, Hanjin Shipping was down 24%, Biostime International was down 13% and ENN Energy Holdings was down 12%.
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