What Worked Asia - 16 Dec 2016 - Size and Beta were hurt across the region

What Worked – China saw a good sell off in Size and high Beta names and a slight move into Quality. China Modern Dairy and China Vanke are both down 10% this week. In Hong Kong there was also a slight selloff in high Beta names. China Innovative Finance is down 14% and Geely Automobile Holdings is down 12%. India also saw a slight selloff in Size and Beta names. Edelweiss Financial Services is down 12% and Indiabulls Housing Finance is down 9%.

As with Japan, South Korea had a good selloff in Value and Large-cap names. Low PBR names that were hurt this week in South Korea were POSCO down 5% and Young Poong Corp down 4%. In Taiwan, low PBR names did well and large-cap names were hurt. Waisin Lihwa Corp was down 4% and Evergreen Marine was down 3%. Value did very well this week in Indonesia, particularly low PE names. Bank Tabungan Pensiunan Nasional is up 6% and Indo Tambangraya Megah is up 6%.

Who Moved 128 names moved on volume this week. A good number of the names were in Taiwan, Hong Kong and China. At the sector level, volume dominated in the Financial Sector. On the positive side, CIMB Thai Bank was up 64%, Great New Wave Coming was up 44% and Da Ming International Holdings was up 26%. All on strong volume. On the other side, Golden Energy & Resources was down 36%, Kong Sun Holdings was down 21% and Sheng Siong Group was down 8%.

Summary

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