In today’s briefing:
- Good Morning Japan |Shock and Awe – BOJ Sends Ripple Though Markets in Kuroda’s Parting Shot
- Macau 2.0: What Investors Need to Know About the New State of Play
Good Morning Japan |Shock and Awe – BOJ Sends Ripple Though Markets in Kuroda’s Parting Shot
- OVERSEAS: SPX +0.1%, eakes out gains; BOJ takes the spotlight as Kuroda delivers “SHOCK AND AWE” (or just bad communication); TSLA at 2 year low-we are focused on deliveries
- JAPAN: NKY Futs vs Cash -0.9% – mainly due to yen strengthening; BOJ’s change reverberates across markets; Positive 3Q Takashimaya preview positive read for Inbound; Courts support Nuke restarts
- DAILY NUGGETS: The BOJ has started on the path towards policy normalisation, SIX MONTHS EARLY. No issues with the move – the shift was poorly communicated, or rather, NOT COMMUNICATED.
Macau 2.0: What Investors Need to Know About the New State of Play
- The new concession laws go into effect January 1st. They are far less punitive than feared but still continue to bear uncertainties for the six licensed peers in the sector.
- All will respond positively to the early phase of post pandemic GGR recovery. All are attractively priced now. A portfolio position is warranted as prices remain near 5 yr lows.
- The central question: Will the US$12 already pledged by the six concessionaires as the price of renewal elevate Macau to a world class tourist destination?
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
