What Worked Asia - 11 Nov 2016 - Overall low PBR names did well and high ROE names were hurt this week

What Worked – In China there was a slight move away from Value and into high Beta and Momentum names. Jiangxi Copper Company was up 35% and Zoomlion Heavy Industry was up 18%. High Dividend names (particularly in the Finance Sector) were hurt this week as Hong Kong also saw a move into higher Beta names. Kerry Properties was down 11% and Cheung Kong Properties was down 10%. Beta and Value names did well in Singapore this week. Noble Group was up 15% and Yangzjiang Shipbuilding was up 8%.

Value also did well and Quality was hurt in India this week.  Indian Bank was up 23% and Vijaya Bank was up 24%. A lot of the low PE names in India that did well were concentrated in the Finance Sector. In Thailand there was a good selloff in Quality and High Dividend yield names and a slight move into large cap names. True Corp was up 9% and Energy Absolute Public was up 4%. In the Philippines, there was a good selloff in large cap and high Beta names. Globe Telecom was down 14% and GT Capital was down 9%.

Who Moved – 213 names moved on volume this week. Approx. 25% of the spikes came in the Finance Sector. On the positive side, Evergrande Health was up 37%, U City Public was up 33% and Jiangxi Copper Company was up 35%. On the other side, Coolpad Group was down 24%, Tung Thih Electronics was down 16% and Youngone was down 17%.


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