What Worked Asia - 10 Feb 2017 - Value (PBR) and Beta did well in Asia ex this week

What Worked –Value, particularly low PE, and Beta dominated in China this week.  Guangzhou Automobile is up 14% and Greenland Hong Kong Holding is up 13%. To a slight lesser degree PE and Beta also were strong in Hong Kong. NewOcean Energy Holding is up 43% and Country Garden Holdings is up 20%. In South Korea, PBR continued to dominated. PBR is clearly the strongest factor in South Korea over the last month. SK Networks is up 16% and LS Corp is up 13% this week.

Low PE names did well in Singapore. Oxley Holding is up 18% and Yangzjiang Shipbuilding is up 7%. Low Debt to Equity names did not do well this week in Singapore. Beta and low PBR names did very well in Malaysia. DRB-Hicom is up 6% and UEM Sunrise is up 6%. Large-cap names did well in Taiwan after a good selloff the previous week. In India nothing really stood out this week.

Who Moved – 305 names moving on volume this week. A good number of the volume spikes came in Taiwan and India. Almost half of the volume spikes came in the Finance and Electronic Technology sectors. On the positive side, PT Bank Rakyat Indonesia Agroniaga is up 55%, NewOcean Energy is up 43% and TPK Holding is up 38%. On the other side, Korea Zinc is down 15%, Korea Aerospace Industries is down 11% and SK Materials is down 9%.


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