What Worked Asia - 14 Oct 2016 - Sell off in Beta in HK/China with move into Value in Singapore/South Korea

What Worked – Good sell off in high Beta names and names that were up over the last 3 months in China. Leyou Technologies Holdings is down 5% and China Jicheng Holdings is down 8%. Hong Kong also saw the same sell off in 3-month momentum but low PE names were also hurt this week in Hong Kong. Lee & Man Paper were down 9% and Skyworth Digital Holdings were down 8%.

In South Korea, value, particularly PBR,  did well this week. Hanwha Chemical is up 10% and E-Mart is up 8%. In Singapore, there was a selloff in high Beta names and a move into high Dividend Yield names. Noble Group is down 4% and Silverlake Axis is down 4%. Beta and low PBR names were hurt India. Bank of Baroda was down 6% and DLF Limited was down 4%. Size and Value outperformed in Taiwan this week. USI Corp was up 5% and China Motors was up 1%. Value, particularly high Div Yield names, did well in the Philippines this week. Premium Leisure was up 2% and Globe Telecom was up 1%.

Who Moved – 115 names moved on volume this week in Asia and almost a third of those names came in Thailand. No one specific Sector stood out. On the positive side, Chaoyue Group is up 28%, Nan Hai Corp is up 27% and Huchems Fine Chemical is up 20%. On the other side, Jammu & Kashmir is down 20%, Intermedia Capital is down 17% and Regina Miracle international is down 11%.


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