Deputy Chief Economist

Sharmila Whelan

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Macroeconomics

<p>Exports and investment spending remain the main drivers of the economic upswing underway in Japan. They are the bright spots. In the third quarter in volume terms exports rose by a solid 1.5% QoQ. Meanwhile private non­-residential investment spending rose for the fourth straight quarter by 0.2% QoQ or 3% YoY. Overall investment spending, gross fixed capital formation, contracted by 0.5% in the quarter on the back of falling public investment (a positive in our book) and private residential…</p>

Exports and investment spending remain the main drivers of the economic upswing underway in Japan. They are the bright spots. In the third quarter in volume terms exports rose by a solid 1.5% QoQ. Meanwhile private non­-residential investment spending rose for the fourth straight quarter by 0.2% QoQ or 3% YoY. Overall investment spending, gross fixed capital formation, contracted by 0.5% in the quarter on the back of falling public investment (a positive in our book) and private residential…

Japan – Improving Fortunes