Japan Stock Market Strategy
Ahead of the March earnings quarter, and after the pleasing December quarter earnings – which he notes have been entirely overlooked by the market – Pelham Smithers discusses whether the market has had its sell-off, noting the high levels of foreign selling in Q1 calendar 2018 and how it was met by QE support.Pelham examines reasons behind foreign investors’ stance in Calendar Q1 and comments on a sea-change in the BoJ’s thinking on QE. Considering the yen, the trade picture and the imbalances in Japan’s economy, and with a focus on labour cost issues and inflation, Pelham discusses what current earnings forecasts are pricing in, and identifies and explains areas of the market where he sees investment opportunities. He considers what this means for stock selection, and provides a PSA Focus List, along with short write-ups on six names we find most promising at this juncture.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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