Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Cross Asset Strategy

<ul>
<li>In this insight, we discuss how Buffett's increased stakes in Japanese trading companies could positively impact Korean trading companies.</li>
<li>In addition, we look back at the past five years and compare how the major Korean trading companies have performed relative to their Japanese counterparts. </li>
<li>In Korea, we believe that the following 5 major Korean trading companies (POSCO International, Hanwha Corp, LX International, Samsung Corp, and Hyundai Corp) could continue to outperform the market.</li>
</ul>


In this insight, we discuss how Buffett's increased stakes in Japanese trading companies could positively impact Korean trading companies.
In addition, we look back at the past five years and compare how the major Korean trading companies have performed relative to their Japanese counterparts. 
In Korea, we believe that the following 5 major Korean trading companies (POSCO International, Hanwha Corp, LX International, Samsung Corp, and Hyundai Corp) could continue to outperform the market.


Warren Buffett's Increased Stakes in Japanese Trading Houses - Impact on Korean Trading Companies

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>MSFT cancelling leases for AI DC capacity sending semi-cap sharply lower.</li>
<li>Western Digital dropping after finalizing the split of its HDD and Sandisk businesses.</li>
<li>Japan trading houses will be a bright spot after Buffet's letter signals more buying.</li>
</ul>


MSFT cancelling leases for AI DC capacity sending semi-cap sharply lower.
Western Digital dropping after finalizing the split of its HDD and Sandisk businesses.
Japan trading houses will be a bright spot after Buffet's letter signals more buying.


Japan Morning Connection: 2-Days of Tech Weakness to Price in Will Be a Rough Start for Japan

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

<ul>
<li>BOJ sows confusion with hawkish and dovish statements regarding its tightening policy. On a USD-basis the Japan market failed again to break its long-term resistance indicating a "Dead Cat Bounce".</li>
<li>Auto and Semiconductor sectors pressured by US trade policies and Trading Companies are affected by JPY strength.  US rejection of <a href="https://www.smartkarma.com/entities/nippon-steel-corporation" target="_blank" data-smartkarma-citation="entities:961:1" rel="noopener">Nippon Steel Corporation (5401 JP)</a>merger affects Japan steel sector.</li>
<li>Higher domestic yields is a catalyst to reverse the large money flows from Japan during the Kuroda years.</li>
</ul>


BOJ sows confusion with hawkish and dovish statements regarding its tightening policy. On a USD-basis the Japan market failed again to break its long-term resistance indicating a "Dead Cat Bounce".
Auto and Semiconductor sectors pressured by US trade policies and Trading Companies are affected by JPY strength.  US rejection of Nippon Steel Corporation (5401 JP)merger affects Japan steel sector.
Higher domestic yields is a catalyst to reverse the large money flows from Japan during the Kuroda years.


JAPAN:  No Lifeguard on Duty, Swim at Your Own Risk

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

Rikki Malik

<ul>
<li>Act II  of the drama begins  and continues from where it left off in early August</li>
<li>Sentiment has changed - bad news really  is  bad news</li>
<li>With &gt;100 basis points of cuts already priced in before year end...</li>
</ul>


Act II  of the drama begins  and continues from where it left off in early August
Sentiment has changed - bad news really  is  bad news
With &gt;100 basis points of cuts already priced in before year end...


Tactical Trading – Time to Sell Japan Again

<ul>
<li>Japan's markets have again failed to break to new highs creating a potential for a double-top pattern.</li>
<li>Trump's policies which target lower interest rates and a weaker dollar will put pressure on Japan's markets as can be seen from the high correlation between the JPY and TPX.</li>
<li>Sectors such as trading companies, autos and semiconductors could see the most pressure under a Trump presidency.</li>
</ul>


Japan's markets have again failed to break to new highs creating a potential for a double-top pattern.
Trump's policies which target lower interest rates and a weaker dollar will put pressure on Japan's markets as can be seen from the high correlation between the JPY and TPX.
Sectors such as trading companies, autos and semiconductors could see the most pressure under a Trump presidency.


Trump Trades and the JAPAN Market Are Like Oil and Vinegar

Japan

Marubeni Corporation is a trading company with business divisions in iron & steel, information technology, utility & infrastructure, energy, food, metals & mineral resources, development & construction, and chemicals.  The Company markets its products globally through a network of sales offices and representative firms.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Marubeni Corp (8002 JP)

Warren Buffett's Increased Stakes in Japanese Trading Houses - Impact on Korean Trading Companies

In this insight, we discuss how Buffett's increased stakes in Japanese trading companies could positively impact Korean trading companies.

Douglas Kim

Japan Morning Connection: 2-Days of Tech Weakness to Price in Will Be a Rough Start for Japan

Semi-cap lower as MSFT cancels leases for AI DC capacity, Western Digital dropping after business spit concerns, Japan trading houses in focus...

Andrew Jackson

JAPAN: No Lifeguard on Duty, Swim at Your Own Risk

BOJ sends mixed signals on its pace of tightening as the JPY strengthens. Auto, semi and trading company sectors continue to be under pressure. A...

David Mudd

Tactical Trading – Time to Sell Japan Again

Act II of the drama continues with a shift in sentiment towards bad news, as over 100 basis points of cuts are already priced in before year end.

Rikki Malik

Trump Trades and the JAPAN Market Are Like Oil and Vinegar

We pointed out that Japan's semi industry may be at risk as part of the "Trump Trade" sentiment. It turns out that Biden has already thrown...

David Mudd

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Warren Buffett's Increased Stakes in Japanese Trading Houses - Impact on Korean Trading Companies

In this insight, we discuss how Buffett's increased stakes in Japanese trading companies could positively impact Korean trading companies.

Douglas Kim

Japan Morning Connection: 2-Days of Tech Weakness to Price in Will Be a Rough Start for Japan

​Semi-cap lower as MSFT cancels leases for AI DC capacity, Western Digital dropping after business spit concerns, Japan trading houses in focus...

Andrew Jackson

JAPAN: No Lifeguard on Duty, Swim at Your Own Risk

BOJ sends mixed signals on its pace of tightening as the JPY strengthens. Auto, semi and trading company sectors continue to be under pressure. A...

David Mudd

Tactical Trading – Time to Sell Japan Again

​Act II of the drama continues with a shift in sentiment towards bad news, as over 100 basis points of cuts are already priced in before year end.

Rikki Malik

Trump Trades and the JAPAN Market Are Like Oil and Vinegar

We pointed out that Japan's semi industry may be at risk as part of the "Trump Trade" sentiment. It turns out that Biden has already thrown...

David Mudd

Semi-cap lower as MSFT cancels leases for AI DC capacity, Western Digital dropping after business spit concerns, Japan trading houses in focus...

Act II of the drama continues with a shift in sentiment towards bad news, as over 100 basis points of cuts are already priced in before year end.