What Worked Japan - 07 Apr 2017 - Beta hurt hard again after being destroyed two weeks ago

What Worked

High Beta names took another huge hit this week, almost as bad as two weeks ago. However, this week Value was hurt more than it was two weeks ago. High Beta names that were hurt were Toshiba (6502) down 10%, Mitsui Mining and Smelting (5706) down 7% and Taiyo Yuden down 7%. Low PBR names that went down this week were Tokai Rika (6995) down 7%, Dai-Ichi Life (8750) down 7% and Resona Holdings (8308) down 6%.

On the other side, Growth names did well this week and have continued to do well since the beginning of February. However this is the best week for growth names since the rally started. Seven & I Holdings (3382) is up 6%, Shimamura (8227) is up 5% and Ezaki Gilco (2206) is up 6%.

Who Moved

80 names moved on volume this week. This is compared to an average 22 names moving on volume weekly in March.  Volume spikes look to be spread relatively evenly across sectors. On the positive side, Sohgo Securities Services (2331) is up 11%, Nitori Holdings (9843) is up 7% and Shimamura (8227) is up 5%. On the other side, Kewpie Corp (2809) is down 9%, Hitachi Metals (5486) is down 6% and NSK (6471) is down 6%.


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