What Worked Japan - 02 Dec 2016 - Value and High Beta names continue to do well since the beginning of October

What Worked  Value names did really well this week and have actually done well since the end of September. This week low PBR names dominated with an almost 50% IC.  A good portion of the low PBR names that did well were in the Bank Sector. Low PBR names that did well were Nomura Holdings (8604) up 12%, Iyo (8385) up 10% and Idemitsu Kosan (5019) up 9%.

Low PE names also did well this week. Low PE names that moved were TADANO (6395) up 10%, Resona Holdings (8308) up 10% and Concordia Financial Group (7186) up 9%. Quality names however continue to underperform. High ROIC names have not done well since the beginning of October. High ROIC names that were down were MonotaRo (3064) down 9%, M3 (2413) down 9% and Hitachi High-Technology (8036) down 8%. As with Value, high Beta names did well this week and have done well since the beginning of October. Panasonic (6752) is up 9% and Mitsubishi UFJ Financial (8306) is up 10%.

Who Moved – 67 names moved on volume this week. A pretty good number for Japan. Only 14 of those names were down this week. On the positive side, Sumitomo Bakelite (4203) was up 11%, Iyo Bank (8385) was up 10% and Sumitomo Mitsui Construction (1821) was up 8%. On the other side, Santen Pharmaceutical (4536) was down 9%, Terumo Corp (4543) was down 4% and Misumi Group (9962) was down 5%.

Summary

PDF Report available here: Download


Log in to comment