What Worked Japan - 17 Jun 2016 - No factor bias, just pretty much everyone went down this week

What Worked – With TOPIX down more than 6% and only 6 names in TOPIX 500 up this week I would have thought there would be more movement in the factors. There wasn’t. This week we saw a slight move out of Beta, but nothing like you would expect with a 6% decline.  MonotaRO was down 19%, COLOPL was down 15% and NIPPON PAINT HOLDINGS was down 14%.

On the other side, there was a slight move into Quality names. Tsuruha Holdings was up 7%, OMROM was up 4% and Unicharm was up 1%. These are 3 of the only 6 names that were up this week in TOPIX 500. All other factors were insignificant. This week’s drop was clearly an across the board decline.

Who Moved – 22 names moved on volume this week. On the positive side, there was only one name that was up on volume this week. OMROM was up 4%. Aside from the names above, ACOM was down 12%, Yokohama Rubber was down 12% and Sega Sammy was down 11%.


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