What Worked Japan - 29 Jul 2016 - Value and Beta bounced back this week

What Worked – After a super huge week two weeks ago and then a reversal last week, Value did well again, particularly PE. Low PE names that did well were Zeon Corp (4205) up 16%, Alps Electric (6770) up 15% and NTN Corp (6472) up 10%.  High Beta names acted the same. Two weeks ago high Beta names were super strong, there was a slight selloff last week and then they did well again this week. Tokai Rika (6995) is up 21%, Zeon Corp (4205) is up 16% and SUMCO (3436) is up 13%.

On the other side, there was a slight selloff in size this week. COLOPL (3668) was down 21%, KOMERI (8218) was down 12% and Capom (9697) was down 12%. There was also a selloff in names that were up over the last 12 months. M3 (2413) is down 12% and ONO Pharma is down 8%.

Who Moved – 27 names moved on volume this week. On the positive side, Shin-Etsu Chemical was up 13%, Nidec (6594) is up 10% and Advantest (6857) is up 11%. On the other side, Nintendo (7974) is down 25%, KOMERI (8218) is down 12% and Canon Marketing Japan (8060) is down 10%. All on strong volume. 

Summary

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