What Worked Asia - 15 Jul 2016 - Size and Value domintated in Asia this week

What Worked – In China it was all about Size this week and to a lesser degree Value. ANTA Sports Products (2020 HK) was up 17% and China Pacific Insurance (2601 HK) was up 13%. Large-cap names also did well in Hong Kong this week and growth names were hurt. Haier Electronics Group (1169 HK) was up 18% and Johnson Electric Holdings (207 HK) was up 12%. Singapore was all about Size and Beta this week. Beta has been one of the strongest factors in the last 6 months in Singapore. Silverlake Axis (SILV SP) was up 7% and Yoma Strategic Holdings (YOMA SP) was up 6%.

South Korea was all about Value, particularly FY1 PE. Kolon (002020 KS) was up 14% and Young Poong (000670 KS) was up 16%. In Taiwan it was also all about Size and to a lesser degree Value. Growth and Beta dominated in the Philippines and in Indonesia high Beta and high Dividend Yield names did well this week.  Vale Indonesia (INCO LJ) was up 29% and Semen Baturaja (SMBR LJ) was up 21%.

Who Moved –  Lot of names moved on volume this week. 211 to be specific. Thailand, Taiwan and India made up a good portion of the volume spikes. At the sector level, Finance and Non-Energy Minerals made up a good number of the volume spikes. On the positive side, Bank Maybak Indonesia (BNII IJ) was up 35%, Godfrey Phillips India (INCO IJ) was up 29% and Dongkuk Steel (001230 KS) was up 21%. On the other side, Yeong Guan Energy Technology was down 14%,TV18 Broadcast was down 11% and Highwealth Construction was down 10%.


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