In today’s briefing:
- Ohayo Japan | Stocks Fall on Mid-East Tension
- Japan Morning Connection: NEC Overlooked as a Defence Play
- Hardman & Co Monthly: October 2024
Ohayo Japan | Stocks Fall on Mid-East Tension
- US stocks ended sharply lower on Tuesday amid heightened geopolitical tensions as Iran launched over 100 ballistic missiles at Israel
- Nike shares fell 2% after hours despite Q1 earnings beating expectations at $0.70 per share vs. $0.52 estimated.
- Mizuho is negotiating to acquire a stake in Rakuten Group’s credit card unit, aiming to expand its fintech services
Japan Morning Connection: NEC Overlooked as a Defence Play
- Profit taking hit tech/semi’s as tensions rapidly escalate in the Middle East, causing defense and oil related names to move higher
- NEC remains overlooked as a defence play in Japan despite the MoD’s growing for budget for electronic warfare and satellite defence capabilities
- Renewables in the US are leading the way YTD, although Japan is far behind the curve despite PM Ishiba being a pro wind/solar and hawkish towards nuclear.
Hardman & Co Monthly: October 2024
- Budgets are always important for investors.
- The imminent Budget, at the end of October, will be doubly so, because it is the first from the new Labour government, and it has already signalled the need to fill an alleged £22bn black hole, while ruling out changes to more than half the tax base.
- That implies a lot of the pain will be felt by investors.
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