Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Global defense names continued to trade well which bodes well for the Japanese heavies and shipbuilders.</li>
<li>Airlines failed to catch a bid although global shippers were mixed which points to further uncertainty amid oil volatility.</li>
<li>Broadcom numbers look good with the firm eyeing $100bn in AI chip revenues by next year.</li>
</ul>


Global defense names continued to trade well which bodes well for the Japanese heavies and shipbuilders.
Airlines failed to catch a bid although global shippers were mixed which points to further uncertainty amid oil volatility.
Broadcom numbers look good with the firm eyeing $100bn in AI chip revenues by next year.


Japan Morning Connection: Markets Stage a Cautious Rebound in the US

<ul>
<li>NVDA investment in Lumentum and Coherent increases the focus on optical over copper connectivity technologies.</li>
<li>Shipper strength on the prospect for higher rates should continue to be reflected in Japan names.</li>
<li>Defense names were obviously strong following gains in Asia yesterday, but geospatial imaging names lead the way.</li>
</ul>


NVDA investment in Lumentum and Coherent increases the focus on optical over copper connectivity technologies.
Shipper strength on the prospect for higher rates should continue to be reflected in Japan names.
Defense names were obviously strong following gains in Asia yesterday, but geospatial imaging names lead the way.


Japan Morning Connection: Markets Firm in the Face of War with Momentum and Growth Outperforming

<ul>
<li>Watch refiners, shippers, and heavies for upside vs weakness for airlines and companies with shipping exposure to EU.</li>
<li>This rotation could be short lived given the very one-sided outcome of the conflict so far, so expect volatility.</li>
<li>Precious metals and oil are already starting to pare early gains this morning which may be indicative of the longevity of some of these moves.</li>
</ul>


Watch refiners, shippers, and heavies for upside vs weakness for airlines and companies with shipping exposure to EU.
This rotation could be short lived given the very one-sided outcome of the conflict so far, so expect volatility.
Precious metals and oil are already starting to pare early gains this morning which may be indicative of the longevity of some of these moves.


Japan Morning Connection: Japan Set for Short-Term Rotation Away from Tech After Attacks on Iran

<ul>
<li>SMCI strong after showcasing its latest server products, while BESI drops -7.5% with its earnings beat not big enough.</li>
<li>AI plays in unlikely places: Oji Paper and Toto emerging from the bathroom to the cleanroom.</li>
<li>JSW +9.2% yesterday on US infrastructure potential, but likely we see more upside for Heavies as further conflict in the Middle East looms.</li>
</ul>


SMCI strong after showcasing its latest server products, while BESI drops -7.5% with its earnings beat not big enough.
AI plays in unlikely places: Oji Paper and Toto emerging from the bathroom to the cleanroom.
JSW +9.2% yesterday on US infrastructure potential, but likely we see more upside for Heavies as further conflict in the Middle East looms.


Japan Morning Connection: Markets Spooked by the Specter of Attacks on Iran

<ul>
<li>Nintendo numbers missed although firm doesn't see impact from higher memory prices this year.</li>
<li>Ibiden to invest Y500bn in new production facilities to capture AI demand.</li>
<li>Defense names should rally after US shoots down an Iranian drone.</li>
</ul>


Nintendo numbers missed although firm doesn't see impact from higher memory prices this year.
Ibiden to invest Y500bn in new production facilities to capture AI demand.
Defense names should rally after US shoots down an Iranian drone.


Japan Morning Connection: Rotation Out of Tech Although AH Mixed with Lumentum up AMD Down

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.

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Mitsubishi Heavy Industries (7011 JP)

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