What Worked Asia - 03 Feb 2017 - Large cap names were hurt across the region this week

What Worked – With Chinese New Year this week, not a lot stood out in China / Hong Kong. In South Korea, there was a good sell-off in high Beta names and a slight move away low PE names. High Beta names that were hurt were Jeil Pharma is down 19% and AmorePacific Group is down 10%. Large-cap names took a big hit in Taiwan this week. Eclat Textile is down 11% and POYA International is down 6%.

To a lesser degree large-cap names also did not do well in Singapore. Frasers Centrepoint is down 4% and Ascott Residence Trust is down 4%. In India, low PBR and high Beta names did well this week. The low PBR name outperformance looks to be concentrated in the Financial sector. Vijaya Bank is up 31% and Bank of Maharashtra is up 16%. Large-cap names were also hurt in the Philippines this week. GT Capital Holdings is down 6% and Bloomberry Resorts is down 5%.

Who Moved – 78 names moved on volume this week. More than half of the volume spikes came in India this week. On the positive side, China Oriental Group is up 49%, Idea Cellular Limited is up 42% and C.banner International Holdings is up 21%. On the other side, Jeil Pharma is down 19%, Bharti Infratel is down 16% and Hyundai Wia Corp is down 11%.


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