Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. Credit Suisse Rattles Markets; Spurs Equity sell off in flight to Safety trade;   UST 2Yr Yld back below 4%;  Crude Extend losses amid Banks sector worries;</li>
<li>JAPAN. NKY Futs -2.6% vs Cash;  USDJPY 133.4.  NKY Futs surprisingly weak given JP untouched by turmoil; Govt considers Cash transfers to poor households; Inbound recovery Continues</li>
<li>NUGGET.  As Japan Hosts "Defense and Security Equipment International (DSEI) JAPAN"  trade show this week,  it will highlight opportunities for local defense contractors overseas.</li>
</ul>


OVERSEAS. Credit Suisse Rattles Markets; Spurs Equity sell off in flight to Safety trade;   UST 2Yr Yld back below 4%;  Crude Extend losses amid Banks sector worries;
JAPAN. NKY Futs -2.6% vs Cash;  USDJPY 133.4.  NKY Futs surprisingly weak given JP untouched by turmoil; Govt considers Cash transfers to poor households; Inbound recovery Continues
NUGGET.  As Japan Hosts "Defense and Security Equipment International (DSEI) JAPAN"  trade show this week,  it will highlight opportunities for local defense contractors overseas.


Good Morning Japan |Now Its Credit Suisse-Markets Rattled; NUGGET: Fuel for Japan's Defense Stocks

<ul>
<li>OVERSEAS.  SPX +1.7% as Regional Bank rebounded  as Calmer heads prevailed;  CPI Print at 6% provides a dose of reality; Meta Culls again; Another Big Boeing Order.   </li>
<li>JAPAN.  NKY Futs flat vs Cash; USDJPY 134.2;  Surprising JP Bank Sell -off yesterday to reverse;  BOJ buys ETFs for 2nd Day; Companies hiking Wages better than expected. </li>
<li>NUGGET. iSpace - Japan's key hope to conquer space. IPO slated for early April, and a moon landing just after. Could be big. </li>
</ul>


OVERSEAS.  SPX +1.7% as Regional Bank rebounded  as Calmer heads prevailed;  CPI Print at 6% provides a dose of reality; Meta Culls again; Another Big Boeing Order.   
JAPAN.  NKY Futs flat vs Cash; USDJPY 134.2;  Surprising JP Bank Sell -off yesterday to reverse;  BOJ buys ETFs for 2nd Day; Companies hiking Wages better than expected. 
NUGGET. iSpace - Japan's key hope to conquer space. IPO slated for early April, and a moon landing just after. Could be big. 


Good Morning Japan | Equities Recoup (Some) Losses; NUGGET: ISpace to Rescue Japan's Space Dreams

<ul>
<li>OVERSEAS.  Powell Testifies. 50bp hike more likely  as inflation higher than expected. Sparks repricing in markets: US Equities hit, UST dumped, USD rises - Choas all round. </li>
<li>JAPAN.  NKY Futs -0.4% vs Cash; USDJPY weakens to 137.1 as Powell tesimony digested;  H3 failure-blow to JP space hopes; "My Number" Use expanded;  Dentsu UK M&amp;A; Many Rating D/Gs </li>
<li>NUGGET. Carbon Capture is a key part of the decarbonization mix; Expect significant spend locally and globally. We look at the opportunity and the firms likely to benefit.  </li>
</ul>


OVERSEAS.  Powell Testifies. 50bp hike more likely  as inflation higher than expected. Sparks repricing in markets: US Equities hit, UST dumped, USD rises - Choas all round. 
JAPAN.  NKY Futs -0.4% vs Cash; USDJPY weakens to 137.1 as Powell tesimony digested;  H3 failure-blow to JP space hopes; "My Number" Use expanded;  Dentsu UK M&amp;A; Many Rating D/Gs 
NUGGET. Carbon Capture is a key part of the decarbonization mix; Expect significant spend locally and globally. We look at the opportunity and the firms likely to benefit.  


Good Morning Japan |Powell Dishes Bitter Pill - Sparks Cross Market Chaos; NUGGET: CCUS Opportunity

<ul>
<li>OVERSEAS. SPX +0.5% in Choppy session; Tech leads as 7/11 sectors rose in a Beta rebound; NDVIA +14% on AI/Chat GPT prospects; All eyes on Friday's PCE Deflator print</li>
<li>JAPAN. NKY Futs +0.4% vs Cash; USDJPY 135 level; Tech to lead after yesterday's holidays; BOJ Gov designate Ueda speaks the Diet today;  Analysts bullish with 11 BUY Upgrades </li>
<li>DAILY NUGGET.  What does Roll-Royce, +24% overnight, say about Japan's IHI(7013) ? The rise in prospects positive for IHI. </li>
</ul>


OVERSEAS. SPX +0.5% in Choppy session; Tech leads as 7/11 sectors rose in a Beta rebound; NDVIA +14% on AI/Chat GPT prospects; All eyes on Friday's PCE Deflator print
JAPAN. NKY Futs +0.4% vs Cash; USDJPY 135 level; Tech to lead after yesterday's holidays; BOJ Gov designate Ueda speaks the Diet today;  Analysts bullish with 11 BUY Upgrades 
DAILY NUGGET.  What does Roll-Royce, +24% overnight, say about Japan's IHI(7013) ? The rise in prospects positive for IHI. 


Good Morning Japan |Choppy US BUT Tech Roars Back with NVIDIA/AI Prospects; Catch up Time in Japan !

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>There are 45 adds/39 deletes for the JPX Nikkei400 Index to bring the number of index constituents back to 400. There are many stocks with multiple days ADV to trade.</li>
<li>Based on the adds, deletes and capping changes, we estimate one way turnover of 8.1% and a round-trip trade of JPY 1,424bn (US$9bn).</li>
<li>The adds have been floundering versus the deletes over the last few months and there could be some outperformance heading into implementation of the changes.</li>
</ul>


There are 45 adds/39 deletes for the JPX Nikkei400 Index to bring the number of index constituents back to 400. There are many stocks with multiple days ADV to trade.
Based on the adds, deletes and capping changes, we estimate one way turnover of 8.1% and a round-trip trade of JPY 1,424bn (US$9bn).
The adds have been floundering versus the deletes over the last few months and there could be some outperformance heading into implementation of the changes.


JPX Nikkei 400 Index Rebalance: 45 Adds; 39 Deletes; US$9bn Trade

Japan

Mitsubishi Heavy Industries, Ltd. is a comprehensive heavy machinery maker. The Company manufactures machinery, ships, turbines and engines, prime movers, aircrafts, and machine parts for military and commercial use.  Mitsubishi Heavy Industries also researches and develops nuclear power plants.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Mitsubishi Heavy Industries (7011 JP)

Good Morning Japan |Now Its Credit Suisse-Markets Rattled; NUGGET: Fuel for Japan's Defense Stocks

NKY Futs surprisingly weak given JP untouched by turmoil; Govt considers Cash transfers to poor households; Inbound recovery Continues. NUGGET:...

Mark Chadwick

Good Morning Japan | Equities Recoup (Some) Losses; NUGGET: ISpace to Rescue Japan's Space Dreams

Surprising JP Bank Sell -off yesterday to reverse; BOJ buys ETFs for 2nd Day; Companies hiking Wages better than expected. NUGGET: iSpace-Going...

Mark Chadwick

Good Morning Japan |Powell Dishes Bitter Pill - Sparks Cross Market Chaos; NUGGET: CCUS Opportunity

REALITY CHECK FROM POWELL; USDJPY weakens to 137.1 as Powell tesimony digested; H3 failure-blow to JP space hopes; "My Number" Use expanded; ...

Mark Chadwick

Good Morning Japan |Choppy US BUT Tech Roars Back with NVIDIA/AI Prospects; Catch up Time in Japan !

Tech to lead after yesterday's holidays; BOJ Gov designate Ueda speaks the Diet today; Analysts bullish with 11 BUY Upgrades

Mark Chadwick

JPX Nikkei 400 Index Rebalance: 45 Adds; 39 Deletes; US$9bn Trade

There are 45 adds/39 deletes for the JPX Nikkei 400 Index resulting in a one-way turnover of 8.1% and a round-trip trade of JPY 1,424bn (US$9bn)....

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)