In today’s briefing:
- Japan Weekly | Topix +25% for the Year
- China Precious Metals Buck Weakening Materials Trend
Japan Weekly | Topix +25% for the Year
- Market Performance: Topix achieved a third consecutive weekly gain, rising by +1.3% to close at 2,366. Defensive sectors, particularly healthcare, telecoms, and utilities, outperformed
- Stock Highlights: Nihon Kohden emerged as the top performer with a +19% gain, fuelled by ValueAct Capital Management’s significant shareholding. Conversely, shippers experienced declines.
- Annual Overview: Topix stood out as one of the best-performing global markets for the year, boasting a remarkable +25% gain. Corporate governance reforms, coupled with yen weakness, were pivotal.
China Precious Metals Buck Weakening Materials Trend
- Rotation in to China Precious Metals stocks pushes ownership to record levels, bucking the trend of overall Materials sector decline.
- Zijin Mining Group soars to new ownership highs, attracting funds such as RWC, Mirae and TT International over the course of 2023.
- Second tier stocks showing signs of life, though remain lightly held among investors.
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