What Worked Asia - 03 Mar 2017 - Large cap names were hurt in China / India, Value did well in South Korea

What Worked

Pretty good selloff in large-cap names in China this week. China Hongqiao Group is down 11% and China Eastern Airlines is down 7%. In Hong Kong while none of the other factors stood out, high ROIC names did well this week. Luen Wong Group is up 34% and Wang On Properties is up 19%. Value and high Beta names did well in South Korea. Low PBR names that did well this week were Hyundai Mipo Dockyard up 11% and Hyundai Heavy Industries up 8%.

In Singapore there was a slight selloff in high Beta names and a move into high ROE names. Yangzijiang Shipbuilding is up 18% and Jardine Cycle & Carriage is up 9%. High Dividend names did well in the Philippines this week. Belle Corp is up 4% and Semirara Mining % Power is up 4%. Nothing really stood out in India. In Malaysia there was a slight move into large-cap and growth names. My E.G. Services is up 8% and Press Metal is up 9%.

Who Moved

188 names moved on volume this week. A good portion of the volume spikes came in the Process Industries and Financial Sector. At the country level, half of the volume spikes came in China/HK and India. On the positive side, Gallant Venture is up 41%, Sri Rejeki Isman is up 33% and China Zhengtong Auto Service is up 30%. On the other side, Season Pacific Holdings is down 19%, Bharat Petroleum Corp is down 13% and Hindustan Petroleum is down 10%. All moved on volume.

Summary

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