What Worked Asia - 21 Oct 2016 - Value did well and Quality suffered in most Asian Markets

What Worked – In China, Large cap and Value names did well this week. Red Star Macalline Group is up 15% and Sihuan Pharmaceutical is up 12%. Nothing stood out in Hong Kong this week. In India, Value outperformed at the expense of Quality. Low PE names in India that did well were DCM Shriram up 22% and ICICI Bank up 14%.

In South Korea, Large cap and Value did well this week and Quality suffered. Low PE names that did well were BNK Financial up 9% and Woori Bank up 9%. Quality names that were down were Medy-Tox down 10% and Dongwon F & B down 10%. Taiwan also saw a move into Value and from Quality. Green Seal Holdings is up 17% and TSRC is up 12%.

In the Philippines high Dividend Yield names did poorly, coming in with a negative 44% IC. However, this week that just means that high dividend names did not go up as much as low dividend names in the Philippines

Who Moved – 144 names moved on volume this week. At the country level a good number of the names came in Taiwan and India. At the Sector level, the Finance and Process Industries sectors pick up a disproportional number of volume spikes. On the positive side, Barito Pacific is up 30%, Esso Thailand Public is up 27% and Superblock Public is up 22%. All on strong volume. On the other side, Philippine Trust is down 31%, Kajaria Ceramics is down 14% and Apexindo Pratama Duta is down 12%.


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