What Worked Asia - 11 Mar 2016 - Div Yield worked in China/HK and PBR was strong in Indonesia and Thailand

What WorkedHong Kong was all about Dividend Yield as the other Value factors cooled off after a strong performance last week. Texhong Textile Group was up 17% and COCSO Pacific was up 7%. Singapore on the other hand saw a huge selloff in high Dividend names and a move into low PBR and positive EPS revision names. Indo Food Agri Resource was up 12% and Accordia Golf was up 5%.

In China we saw a good selloff in short-term momentum names and a move into high Dividend yield names. BBMG Corp was down 7% an Hua Hong Semiconductor was down 6%. High Dividend names that did well were Lonking Holdings up 10% and Xinyi Solar Holdings up 10%. South Korea saw a move into PBR names and a move away from Quality and long-term momentum. Doosan heavy Industries was up 10% and Hankook Tire Worldwide was up 10%. There was also a good selloff in Value in Taiwan, particularly Dividend Yield. Chlitina Holdings was down 10% and Yungtay Engineering was down 7%. The Philippines was all about Beta this week. First Gen was up 10% and Megaworld was up 8%.

Who Moved Good volume week with 217 names moving on volume. A good number of the volume spikes came in Taiwan and South Korea. At the Sector level, Process Industries and Producer Manufacturing saw good volume. On the positive side, Honbridge Holdings was up 26%, HTC Corp was up 27% and Doosan Infracore was up 23%. On the other side, Bumi Armada was down 22%, Mindtree was down 15% and Boer Power Holdings was down 14%.


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