What Worked Asia - 25 Mar 2016 - Value was hurt as Investors moved into Quality

What Worked – In China there was a good selloff in names that were up over the last month. Zoomlion Heavy Industries was down 8% and Sunac China was down 7%. PBR was also hurt in China. Sino-Ocean Land was down 13%. In Hong Kong, ROE did well this week. CSPC Pharmaceutical Group was up 14% and Virscend Education was up 14%. In Hong Kong, there was also a selloff in names up over the last month. China Minsheng Financial was down 15%. In Singapore there was a selloff in high Beta and names up over the last month. Yoma Strategic Holdings was down 6% and Ezion Holdings was down 6%.

In South Korea PE and ROE names did well. Hansol Chemical was up 15% and Korea Petro Chemical was up 7%. 1-month momentum names were also hurt in South Korea. Komipharm International was down 12%. In India, Beta did well at the expense of quality. Just Dial was up 16% and Welspun India was up 15%.

Who Moved – 234 names moved on volume this week. A good number of the names that moved on volume were in Malaysia, Taiwan and India. At the Sector level, Process Industries and Finance made up a good portion of the volume spikes. On the positive side, Crown International was up 34%, Prince Housing & Development was up 23% and Taiwan High Speed Rail was up 26%. On the negative side, Boer Power Holdings was down 24%, China Lesso Group was down 18% and China Traditional Chinese Medicine was down 18%.


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