What Worked Japan - 28 Apr 2016 - Nothing until this afternoon and then everything went to...well you know

What Worked – The only thing that mattered this week was Thursday afternoon. Yes, I will admit that we do a preliminary write-up before the close and then adjust the number as they change. Well things changed significantly today. Using preliminary number my subject line was “What Worked – Nothing.” Because up until this afternoon nothing stood out. However with the BOJ Announcement and Yen’s significant drop, things stood out.

This afternoon saw a huge sell off in high Beta, Value and 1-week momentum names. As a result, high beta names that were down were JFE down 16% on the week, 7% of that on the afternoon open, Jafco down 16%, 8% of that this afternoon.  Value names that were hurt were Hino Motors down 16%, 6% of that happened this afternoon. Mitsui OSK was down 16% this week, 7% of that on the afternoon open this afternoon.

Who Moved – There were 15 names that moved on volume this week. On the positive side, Japan Steel Works was up 10%, Coca-cola East was up 9% and Kokuyo was up 7%. On the other side, Hokuhoku Financial down 13%, Mitsubishi Motors was down 11% and CyberAgent was down 9%. All on strong volume.


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