What Worked – In China, size and mean reversion mattered this week. Zall Development Group was up 13% and 3sBio was up 7%. Large Cap names have outperformed in China over the last month. To a lesser degree, Hong Kong was also all about Mkt-Cap size. L’Occitane International was up 18% and Vision Fam International was up 11%. South Korea saw a pretty good sell off in Quality and Growth names. CMG Pharma was down 11% and CJ HelloVision was down 9%.
High Beta names did well in Singapore this week. Yoma Strategic Holdings was up 7% and Sembcorp Marine was up 6% this week. Beta has done well in Singapore over the last 3 weeks. In India there was a clear rotation away from Quality and into low PBR names. AAG Energy was up 19% and Indian Bank was up 13%. PBR has not well in India since the middle of April this year.
Who Moved – 106 names moved on volume this week. This week a good number of the spikes came in India, Indonesia and the Philippines. At the Sector level, almost half of the spikes came in the Health Technology and Finance Sectors. On the positive side, Chiang Mai Ram Medical was up 36%, Hanall Biopharma was up 39% and Bloomberry Resorts was up 20%. On the other side, IGG was down 11% Shunfeng International Clean was down 12% and Asia Aviation Public was down 7%.
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