In today’s briefing:
- Ohayo Japan | The Bulls Are Back; Toyota Navigating the EV Transition
- Interpretation of China’s Central Financial Work Conference – the Big Changes and the Outlook
Ohayo Japan | The Bulls Are Back; Toyota Navigating the EV Transition
- Overseas: SPX +0.9% , Nasdaq +1.2%; US stocks up on lull in job market. Volatility recedes.
- Today: NKY Futs +1.2% v cash. JPY 149.4/$; Japan approves Stimulus package to fight inflation; Honda China sales strong in Oct
- JapanX: Toyota’s record profits, driven by a diversified drivetrain approach, will fund its shift to EVs
Interpretation of China’s Central Financial Work Conference – the Big Changes and the Outlook
- China holds tone-setting national financial work conference.It’s rare for the country’s top leaders to directly express a high level of dissatisfaction with the financial work of the past few years.
- China emphasizes the “political stance” of financial practitioners, who (regardless of the industry/sector they belong to) would have to face “significant changes”, which are prompting investors to think ahead.
- The era of finance as a profiteering has passed.It’s increasingly difficult to have excess returns under the banner of serving real economy, but some industries are still prioritized, indicating opportunities.
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