In today’s briefing:
- Japan Weekly | Fast Retailing, Disco, Nidec
- Philippine Gaming: Erroneous Reports of China Blackball Threats Don’t Upset Bull Outlook for Sector
Japan Weekly | Fast Retailing, Disco, Nidec
- The Nikkei 225 closed the week +0.2% higher after sharp gains on Friday
- The Japanese yen dropped to a 32-year low on Thursday, trading at around 147.65 against the dollar, hitting its weakest point since August 1990
- Higher rates and weakening economic growth are proving a stern headwind for tech stocks; Yaskawa cut full year OP guidance
Philippine Gaming: Erroneous Reports of China Blackball Threats Don’t Upset Bull Outlook for Sector
- Unsubstantiated reports of Beijing tourism blackball threat to Philippines ignite Manila POGO crackdown. 175 sites closedd, 50,000 Chinese to be deported. Sector shrugs it off.
- Outlook for Manila casinos remains highly bullish, as key headwind issues are resolved.
- Speeding growth of GGR rebound, resolution of ownership legal mess at Okada and recovering GGR at Solaire (Bloomberry Resorts) support higher guidance for sector ahead.
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