In today’s briefing:
- Japan Weekly | Focus on China as Stocks Remain Volatile
- Ohayo Japan | Jobs Report Massively Overshot Expectations
- Japan Morning Connection: Expect Rebound After Strong US Job Data
Japan Weekly | Focus on China as Stocks Remain Volatile
- China announced significant economic measures to stimulate its markets and address ongoing challenges
- The S&P 500 started Q4 on a volatile note with concerns around the U.S. labor market, Middle East tensions, East Coast port strikes, and the approaching U.S. presidential election
- This week, the Nikkei experienced significant volatility, closing 1,193 points lower, marking its first weekly decline in four weeks
Ohayo Japan | Jobs Report Massively Overshot Expectations
- US stocks rallied Friday, with the S&P 500 gaining 0.9% to 5,751 and the Dow adding 300+ points to set a new record
- Japanese companies’ capital investments in China dropped 16% year-on-year in Q2 2023, falling below European investments for the second consecutive quarter
- Yaskawa Electric reported its first quarterly order growth in two years, with a 1% increase to ¥126.3 billion.
Japan Morning Connection: Expect Rebound After Strong US Job Data
- Japan to follow US higher on the much better-than-expected jobs report and the yen back to 148.9
- Exporters including the Autos with high US exposures as well as Inbound related laggards such as Isetan Mitsukoshi and Shiseido/Kose should see sentiment improve
- The strong US data should also help the JP Shippers rebound after dropping -8.2% on Fri on the end of the US port workers strike
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