What Worked Japan - 18 Nov 2016 - Value and high Beta names continued to do well this week

What Worked – Value and Beta continued to dominate this week. Low PE and PBR names continued to do well as Growth names continued to do poorly. The last time low PBR names really did not do well was in the end of September. High Growth names have only done well once since the beginning of October. Low PBR names that did well this week were Hokuhoku Financial (8377) up 15%, Unipres Corp (5949) up 12% and Taiyo Yuden (6976) up 13%.

High Beta names that outperformed this week were DMG MORI (6141) up 24%, Mazda Motors (7261) up 16% and Fuji Heavy Industries (7270) up 14%. Looking at momentum, names down over the last 12 months did well this week. NGK Insulators (5333) is up 12%, Unipres Corp is up 12% and Citizen Watch (7762) is up 12%. High Growth names that did not do well were Penta-Ocean Construction down 9%, Dentsu (4324) down 4% and Nippon Shinyaku (4516) down 3%.

Who Moved – Huge number of names moved on volume this week. 127 names out of 500 moved on volume and of those 106 names moved up on volume. On the positive side, DMG Mori (6141) is up 24%, Mazda Motors (7261) is up 16% and Hokuhoku Financial (8377) is up 15% on strong volume. On the other side, Rohto Pharmaceutical (4527) is down 13%, Penta-Ocean Construction (1893) is down 9% and Toyo Tire & Rubber is down 8%.

Summary

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