What Worked Asia - 18 Nov 2016 - Each Market kind of moved in its own direction this week

What Worked – In China names up over the last month went down this week. Jiangxi Copper Company is down 9% and Yangtze Optical Fibre and Cable is down 10%. Nothing really stood out in Hong Kong. In South Korea, Value, particularly PBR, did well this week. Low PBR names that were up were Mirae Asset Life Insurance up 15% and Hanjin Kal up 15%.

In India, high dividend yield names did well however there was a good selloff in high Beta names.  High Beta names that were hurt in India were Godfrey Phillips down 21% and JM Financial Limited down 18%. In the Philippines there was a move into large-cap names this week. DMCI Holding was up 11% and Semirara Mining & Power was up 8%. In Singapore, large-cap names and name with positive EPS revisions did well this week. SATS is up 4% and Genting Singapore is up 6%. In Indonesia there was a huge sell off in high Beta names.

Who Moved – 284 names moved on volume this week. A good portion of the volume spikes came in Taiwan, South Korea and Singapore. At the sector level, Finance and Producer Manufacturing sectors picked up a good number of the volume spikes. On the positive side, HengTen Networks Group is up 31%, China International Marine is up 24% and GlobalWafers Co is up 22%. On the other side, Daewoo Engineering & Construction is down 21%, PT Indo Tambangraya Megah is down 18% and PC Jeweller is down 17%.

Summary

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