Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

Japan continues to exert heavy influence on Thailand's economy. A weaker yen can benefit Thai exporters, especially in automobiles, due to the close integration between their supply chains. It benefits outbound tourism to Japan at the expense of inbound tourism to Thailand (hurting hotels and healthcare), but overall, the airport and airline stocks, who are agnostic to direction, will benefit.

Japan continues to exert heavy influence on Thailand's economy. A weaker yen can benefit Thai exporters, especially in automobiles, due to the close integration between their supply chains. It benefits outbound tourism to Japan at the expense of inbound tourism to Thailand (hurting hotels and healthcare), but overall, the airport and airline stocks, who are agnostic to direction, will benefit.

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Equity Bottom-Up

The announcement by the Japan Society of Medical Oncology (JSMO) urging patients to take caution over usage of immune checkpoint inhibitors, such as Opdivo, is entirely understandable in news that three of seven patients observed with interstitial lung disease following cancer treatment with Opdivo in combination therapy had died. However, it is unusual for the JSMO to act so quickly, and it is hard not to think that the government and costs are behind the announcement. In April, a cost estimate…

The announcement by the Japan Society of Medical Oncology (JSMO) urging patients to take caution over usage of immune checkpoint inhibitors, such as Opdivo, is entirely understandable in news that three of seven patients observed with interstitial lung disease following cancer treatment with Opdivo in combination therapy had died. However, it is unusual for the JSMO to act so quickly, and it is hard not to think that the government and costs are behind the announcement. In April, a cost estimate…

Ono & Opdivo: Is the Backlash Orchestrated?

On 8th July, the outstanding arbitrage position fell to 385 million shares, which is the lowest since February 2009, when the Lehman Crisis was reaching its nadir as far as the Japanese stock market is concerned. What appears to have happened is that the June roll-over was proceeding smoothly and a position of over 500 million shares had been built up in the September contract, three days before SQ, when ETF-related cash programs forced the futures into a discount and traders halted the…

On 8th July, the outstanding arbitrage position fell to 385 million shares, which is the lowest since February 2009, when the Lehman Crisis was reaching its nadir as far as the Japanese stock market is concerned. What appears to have happened is that the June roll-over was proceeding smoothly and a position of over 500 million shares had been built up in the September contract, three days before SQ, when ETF-related cash programs forced the futures into a discount and traders halted the…

Japan Outstanding Futures Arb Position Hits Post-Lehman Low

FX Strategist

Greg Gibbs

Fundamental analysis of topical themes in FX

Amplifying Global FX Capital

Amplifying Global FX Capital was founded in 2015 and is fully owned by Greg Gibbs. It is a registered company both in Australia and Colorado, USA and is a licensed in Australia to provide financial services.

We are producing a regular trading view orientated macroeconomic analysis of topical themes in global financial markets, with a particular focus on foreign exchange. We invite you to view an “executive summary” of these reports in “AmpGFX Reports” under our “Research” menu.

These reports are drawn from the analysis of Greg Gibbs and inform the capital management he undertakes on behalf of the company. The trading performance is posted periodically on our website. We aim to build our company into both a research and capital management business. We are currently in the planning phase for managing capital for wholesale customers.

Greg Gibbs has spent his working life of more than 26 years in financial markets, beginning in 1989 at the Reserve Bank of Australia, after completing a Bachelor of Economics Degree (Honours) at the Australian National University. He has been a CFA Charterholder since 2005. He has worked in Sydney, Singapore, New York and London for major global banks and presented on foreign exchange markets to major financial institutions and companies around the world, and maintained a high profile in the financial media.

Before Amplifying Global FX Capital, Greg was the Head of Asia Pacific Market Strategy at the Royal Bank of Scotland based Singapore. He now resides in Breckenridge Colorado.

FX & Rates

The rebound in USD/JPY this week could be a key development for global markets. It could signal a shift in sentiment that has driven global bond yields and break-even inflation expectations to record lows.   A confusing year for markets made worse by a rebound in JPYGlobal financial markets have been confusing this year, lacking clear themes and often seeming at odds with historical relationships.  There has been evidence of high risk aversion, such as a strong JPY, record lows in global bond…

The rebound in USD/JPY this week could be a key development for global markets. It could signal a shift in sentiment that has driven global bond yields and break-even inflation expectations to record lows.   A confusing year for markets made worse by a rebound in JPYGlobal financial markets have been confusing this year, lacking clear themes and often seeming at odds with historical relationships.  There has been evidence of high risk aversion, such as a strong JPY, record lows in global bond…

AmpGFX - JPY Reversal Key for Global Markets

Asia Economist and CEO, Centennial Asia Advisors

Manu Bhaskaran

Asia Economist and CEO

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

Macroeconomics

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We were wrong about BOJ policy action: The BOJ kept its monetary policy unchanged last week despite the desultory economy. Consequently, the Yen surged, which was the last thing that the economy needed.</li>
<li>
Economic data almost uniformly bad: Industrial production rose 0.1% y/y in Mar 16, after falling 1.2% in Feb 16, with the earthquakes that struck Kyushu likely to depress production in 2Q16. Retail sales fell 1.1% y/y in Mar 16, following a 0.4% y/y gain in Feb 16. And deflationary pressures…</li>
</ul>



We were wrong about BOJ policy action: The BOJ kept its monetary policy unchanged last week despite the desultory economy. Consequently, the Yen surged, which was the last thing that the economy needed.

Economic data almost uniformly bad: Industrial production rose 0.1% y/y in Mar 16, after falling 1.2% in Feb 16, with the earthquakes that struck Kyushu likely to depress production in 2Q16. Retail sales fell 1.1% y/y in Mar 16, following a 0.4% y/y gain in Feb 16. And deflationary pressures…


Japan

iShares JPX Nikkei 400 ETF is an Exchange Traded Fund incorporated in Japan. The objective of the ETF is to  provide investment resultes that corresponded to the performance of the index, JPX Nikkei Index 400.

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iShares JPX-Nikkei 400 ETF (1364 JP)

Abenomics the Sequel

Japan continues to exert heavy influence on Thailand's economy. A weaker yen can benefit Thai exporters, especially in automobiles, due to the...

Athaporn Arayasantiparb, CFA

Ono & Opdivo: Is the Backlash Orchestrated?

The announcement by the Japan Society of Medical Oncology (JSMO) urging patients to take caution over usage of immune checkpoint inhibitors, such...

Pelham Smithers Associates

Japan Outstanding Futures Arb Position Hits Post-Lehman Low

On 8th July, the outstanding arbitrage position fell to 385 million shares, which is the lowest since February 2009, when the Lehman Crisis was...

Pelham Smithers Associates

AmpGFX - JPY Reversal Key for Global Markets

The rebound in USD/JPY this week could be a key development for global markets. It could signal a shift in sentiment that has driven global bond...

Greg Gibbs

Japan: Huge Policy Dilemma Raises Risks

We were wrong about BOJ policy action: The BOJ kept its monetary policy unchanged last week despite the desultory economy. Consequently, the Yen...

Manu Bhaskaran

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