What Worked Asia - 02 Dec 2016 - Slight Selloff in momentum names in HK / China

What Worked –Names up over the last year in Hong Kong and China were down this week. In China, Sunny Optical Technology was down 8% and Yanzhou Coal Mining was down 8%. In Hong Kong, Crown International was down 11% and China High Speed Transmission Equipment Group was down 12%. In Taiwan low PBR names and to a lesser degree low PE names did well with week. Low PBR names that outperformed were China Petrochemical Development up 9% and China Motor up 7%.

In Singapore there was a slight move into Size and high Beta names. Large-cap names that did well were Keppel Corp up 10% and Fortune Real Estate up 6%. In India, names down over the last month are up this week. JM Financial is up 10% and Eicher Motors is up 14%. In Malaysia names with positive EPS momentum did well this week and in the Philippines low PBR names and high Sales Growth names did well this week. In South Korea there was a slight move into value and positive revision names.

Who Moved – 212 names moved on volume this week. A good portion of the volume spikes came in the Finance Sector. At the country level, more than half of the spikes came in Hong Kong, China and Taiwan. On the positive side, Huarong International Financial Holdings is up 42%, Balkrishna Industries is up 35% and Adani Power Limited is up 20%. On the other side, Glorious Property Holding is down 33%, CT Environmental Group is down 23% and China Innovative Finance is down 23%.

Summary

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