In today’s briefing:
- Ohayo Japan | Tech Rebounds but Markets in Correction; The New Lexus Concept Car
- Japan Weekly | Fujitsu, Nidec, Ibiden
- China Weekly Economic Wrap 10-29-2023
Ohayo Japan | Tech Rebounds but Markets in Correction; The New Lexus Concept Car
- Overseas: SPX -0.5%, Nasdaq; +0.5%; Energy stocks weaker on poor results; US inflation still too high
- Today: NKY Futs -1.3% v cash. JPY149.7; Weak results from Omron, Seiko, Sumi Chem
- JapanX: Lexus’s LF-ZC concept car offers a 1,000 km range with advanced batteries, AI integration, and a commitment to luxury, signaling Toyota’s EV ambitions
Japan Weekly | Fujitsu, Nidec, Ibiden
- Market Watch: Japanese equities flat over the week. Core inflation exceeds inflation; pressure on BoJ to normalize policy
- Major Movers: Fujitsu stock soared by 12% this week; earnings in line; margin improvement in core Japan service solutions business.
- Activist Watch: Murakami & co has added another 1-pt to their holding in Ryosan (10.4%)
China Weekly Economic Wrap 10-29-2023
- China Huijin’s purchase of China ETF, signaling further support to the stock market
- China, in a rare move in the middle of the year, planned to increase its fiscal deficit to 3.8% and issue RMB1Trn to support local governments
- China’s move is expected to support growth in 4Q and 1H24 without further burdening the local government financing.
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