What Worked Asia - 21 Apr 2017 - Value was hurt in China/Hong Kong but Div Yield names did very well in Singapore

What Worked

Good sell off in low PBR names in China and a strong move into high ROIC names. High ROIC names that did well were AAC Technologies Holdings up 11% and Sunny Optical up 9%. In Hong Kong, there was the same selloff in Value names but there was not a rotation into Quality names. Low PBR names that did poorly this week were Hengdeli Holdings is down 18% and Mason Financial Holdings is down 3%.

In Singapore, high dividend yield names did very well this week. TalkMed Group is up 9% and Asian Pay Television Trust is up 8%. Value and high Beta names were hurt this week in South Korea. High PE names that were down were Interflex down 9% and Leeno Industrial down 4%. High Beta names did incredibly well in Malaysia this week. Malaysia Building Society is up 14% and AirAsia is up 6%.

Who Moved

Only 85 names moved on volume this week. A good portion came in South Korea. At the sector level, the spikes look to well distributed. On the positive side, DoubleUGames is up 39, Indiabulls Real Estate is up 35% and CUB Elecparts is up 27%. On the other side, Japfa Ltd is down 21%, Vivant Corp is down 9% and TMB Bank Public is down 9%.


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