Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Tech is off the menu for most as CoreWeave shakes AI sentiment further.</li>
<li>Japanese autos largely priced in the tariff news yesterday, although big dividends up for grabs may see renewed interest.</li>
<li>Japan set for another day of duck-and-cover with the rotation back towards domestic defensive set to continue.</li>
</ul>


Tech is off the menu for most as CoreWeave shakes AI sentiment further.
Japanese autos largely priced in the tariff news yesterday, although big dividends up for grabs may see renewed interest.
Japan set for another day of duck-and-cover with the rotation back towards domestic defensive set to continue.


Japan Morning Connection: US Auto Tariffs Shaking Markets but Ex-Date May Lure Buyers Back in Japan

<ul>
<li>Expect a strong follow through from Japan's SPE despite a rare outperformance last week</li>
<li>Laggards such as TEL, Screen and Micronics may be targets.  </li>
<li>Many mainstay EU defence names surged to new highs; expect heavies and JSW upside</li>
</ul>


Expect a strong follow through from Japan's SPE despite a rare outperformance last week
Laggards such as TEL, Screen and Micronics may be targets.  
Many mainstay EU defence names surged to new highs; expect heavies and JSW upside


Japan Morning Connection: Solid Tech Rebound Ahead of the NVDA Developers Conference This Week

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>A review of recent events/data impacting our investment themes or outlook</li>
<li>More evidence emerging of a regime change in global markets</li>
<li>What is different this time around from previous bear markets</li>
</ul>


A review of recent events/data impacting our investment themes or outlook
More evidence emerging of a regime change in global markets
What is different this time around from previous bear markets


Overview #19 – Don’t Buy the D@nm Dip!

Japan Specialist

Mark Chadwick

<ul>
<li>
Economic Uncertainty &amp; BOJ Policy Shift: Japan's GDP growth slowed, consumer spending weakened, and the BOJ signaled tighter monetary policy, pushing bond yields to multi-year highs.</li>
<li>
Global Trade &amp; Market Volatility: U.S. recession fears, yen appreciation, and renewed trade tensions, including Trump's tariff threats, weighed on investor sentiment despite a late tech stock rebound.</li>
<li>
 Advantest and Disco surged on AI and semiconductor demand, while Recruit fell due to U.S. hiring weakness, highlighting sector-specific growth and risks.</li>
</ul>



Economic Uncertainty &amp; BOJ Policy Shift: Japan's GDP growth slowed, consumer spending weakened, and the BOJ signaled tighter monetary policy, pushing bond yields to multi-year highs.

Global Trade &amp; Market Volatility: U.S. recession fears, yen appreciation, and renewed trade tensions, including Trump's tariff threats, weighed on investor sentiment despite a late tech stock rebound.

 Advantest and Disco surged on AI and semiconductor demand, while Recruit fell due to U.S. hiring weakness, highlighting sector-specific growth and risks.


Japan Strategy Weekly | Markets Struggle Amid Economic Uncertainty

<ul>
<li>New CEO positive for Intel plays such as Ibiden. SPE favourites to rally off lows.</li>
<li>Apple and related suppliers failing to catch a bid with analysts bearish over AI delay.</li>
<li>Sandisk down but Micron up...still room for NAND plays to run on price hike expectations?</li>
</ul>


New CEO positive for Intel plays such as Ibiden. SPE favourites to rally off lows.
Apple and related suppliers failing to catch a bid with analysts bearish over AI delay.
Sandisk down but Micron up...still room for NAND plays to run on price hike expectations?


Japan Morning Connection: Relief Rally for Tech and High-Beta Laggards After Macro Data

Japan

ADVANTEST CORPORATION produces semiconductor testing devices and electronic measuring instruments.  The Company's products include large-scale integration (LSI) test systems, memory test systems, dynamic test handlers, network analyzers, electronic meters, optical testing devices, and signal sources.

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Advantest Corp (6857 JP)

Japan Morning Connection: US Auto Tariffs Shaking Markets but Ex-Date May Lure Buyers Back in Japan

CoreWeave's announcement drives AI sentiment down further. May see renewed interest in Japanese autos today. Expecting Japan to continue rotation...

Andrew Jackson

Japan Morning Connection: Solid Tech Rebound Ahead of the NVDA Developers Conference This Week

Japan's SPE likely to continue strong performance, with potential targets in laggards like TEL, Screen, and Micronics. EU defense stocks have been...

Andrew Jackson

Overview #19 – Don’t Buy the D@nm Dip!

A review of recent events/data impacting our investment themes and outlook. How will the incoming bear market in the US impact Asia

Rikki Malik

Japan Strategy Weekly | Markets Struggle Amid Economic Uncertainty

Japan's economic slowdown and BOJ policy shift impact bond yields, while global trade tensions and market volatility weigh on investor sentiment....

Mark Chadwick

Japan Morning Connection: Relief Rally for Tech and High-Beta Laggards After Macro Data

New Intel CEO a positive for related plays such as Ibiden. Apple struggles with AI delay. NAND plays may still have room to run on price hike...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: US Auto Tariffs Shaking Markets but Ex-Date May Lure Buyers Back in Japan

​CoreWeave's announcement drives AI sentiment down further. May see renewed interest in Japanese autos today. Expecting Japan to continue rotation...

Andrew Jackson

Japan Morning Connection: Solid Tech Rebound Ahead of the NVDA Developers Conference This Week

​Japan's SPE likely to continue strong performance, with potential targets in laggards like TEL, Screen, and Micronics. EU defense stocks have been...

Andrew Jackson

Overview #19 – Don’t Buy the D@nm Dip!

A review of recent events/data impacting our investment themes and outlook. How will the incoming bear market in the US impact Asia

Rikki Malik

Japan Strategy Weekly | Markets Struggle Amid Economic Uncertainty

​Japan's economic slowdown and BOJ policy shift impact bond yields, while global trade tensions and market volatility weigh on investor sentiment....

Mark Chadwick

Japan Morning Connection: Relief Rally for Tech and High-Beta Laggards After Macro Data

​New Intel CEO a positive for related plays such as Ibiden. Apple struggles with AI delay. NAND plays may still have room to run on price hike...

Andrew Jackson

CoreWeave's announcement drives AI sentiment down further. May see renewed interest in Japanese autos today. Expecting Japan to continue rotation...

Japan's SPE likely to continue strong performance, with potential targets in laggards like TEL, Screen, and Micronics. EU defense stocks have been...

Japan's economic slowdown and BOJ policy shift impact bond yields, while global trade tensions and market volatility weigh on investor sentiment....

New Intel CEO a positive for related plays such as Ibiden. Apple struggles with AI delay. NAND plays may still have room to run on price hike...