What Worked – Nothing really stood out in China / Hong Kong. However there was a slight move into size in Hong Kong. Goldin Properties Holdings was up 20% and Wang On Properties was up 13%. Dividend Yield continues to drive the market in Singapore. High dividend yield names have done well in Singapore since the beginning of June. This week Sheng Siong Group was up 5% and Mapletree Industrial Trust was up 5%.
Korea was all about Value this week. Low PBR names that did well were Hyundai Heavy Industries up 17% and Hyundai Mipo Dockyard up 11% this week. In Taiwan there was a good rotation away from low PBR names and into positive EPS revision names. Walsin Technology is up 17% and Realtek Semiconductor is up 7%.
Who Moved – 204 names moved on volume this week. A good number of the volume spikes came in Taiwan and India. At the Sector level, the Finance and Process Industries Sectors had a number of volume spikes. On the positive side, Jindal Steel & Power was up 23%, Bank Pembangunan Daerah Jawa Barat dan Banten was up 23% and Bangkok Expressway and Metro Public was up 22%. On the other side, Dr. Reddy’s Laboratories was down 18%, Hansae Co was down 13% and Gudang Garam was down 11%.
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