What Worked Asia - 28 Oct 2016 - This week was one of those weeks when nothing really stands out

What Worked – In China nothing really happened in Value, but there was a good selloff in Quality, particularly high ROIC names. High ROIC names that went down were Koradior Holdings down 15% and Great Wall Motors down 13%. In Hong Kong, Value did slightly better but the real outperformance came in names with positive EPS revisions. China South City Holdings is up 10% and China Overseas Grand Oceans is up 7%.

Singapore saw a move into Quality and away from large cap names. Delfi Limited is up 8% and Super Group is up 7%. In South Korea there was a slight selloff in high beta names, but nothing really stood out after the strong performance in Value last week. There was a huge selloff in high Beta names in the Philippines this week. GT Capital Holdings is down 8% and JG Summit Holdings is down 4%. Nothing stood out in India this week. Huge reversal in momentum names in Malaysia. YTL Corp is down 8% and UOA Development is down 6%.

Who Moved – 131 names moved on volume this week. A lot of the volume spikes came in Taiwan, South Korea and India. On the positive side, Bumi Resources is up 46%, Shun Cheong Holdings is up 32% and Golden Energy Mines is up 25%. On the other side, COSMAX is down 17%, Great Wall Motors is down 13% and Belle International Holdings is down 13%.


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