What Worked Asia - 13 May - Quality, particularly ROE, did well in most regions this week

What Worked  Hong Kong saw a slight selloff in high Beta names and a move into high ROE and positive EPS revision names. BEP International Holdings was down 11% and Yuexiu Property was down 11% this week. China was the same with a selloff in high Beta names, but in China there was a move into quality and also large cap. Large-cap names in China that did well were AAC Technology up 14% and Biostime International up 9%.

In South Korea there was a clear selloff in Value, Size and Beta and a move into Quality. Low PBR names that were hurt were Lotte Shopping down 10% and Doosan Infracore down 11%. In Singapore there was a slight selloff in high Beta names. Super Group was down 7% and Global Logistic Properties was down 5%.

Unlike most of the region, Quality took a good hit in Thailand this week. Pruksa Real Estate Public was down 6% and Unique Engineering & Construction was down 7%.

Who Moved – 98 names moved on volume this week in Asia ex. Looking at the Sector level a good number of those names were in the Process Industries and Financial Sectors. At the Country level a good portion of volume spikes were in India and Taiwan. On the positive side, Kyungnam Energy was up 70%, Monsanto India was up 37% and Taokaenoi Foods & Marketing was up 36%. On the other side, Beijing Enterprises Clean Energy was down 41%, Tung Thih Electronics was down 23% and Eclat Textiles was down 17%.

Summary

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