Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Thematic (Sector/Industry)

<a href="https://www.smartkarma.com/profiles/710" target="_blank" data-smartkarma-citation="accounts:710">Pelham Smithers</a> came out with a worthwhile comment on the Q4 seasonality of Japanese markets. I agree with their assessment of being bullish Japan into Q4 as discussed in my ongoing "Japan Flow" series about BOJ ETF buying (<a href="https://www.smartkarma.com/insights/japan-flow-i-the-boj-s-new-etf-buying" target="_blank">I</a>, <a href="https://www.smartkarma.com/insights/japan-flow-ii-just-what-etfs-does-the-boj-buy-could-we-see-an-april2000-style-nikkei-225-rebal" target="_blank">II</a>, and <a href="https://www.smartkarma.com/insights/japan-flow-iii-the-mechanics-of-boj-buying" target="_blank">III</a>) and activity by foreigners on the TSE over time (<a href="https://www.smartkarma.com/insights/japan-flow-iv-foreign-flows-matter-they-have-clear-cycles" target="_blank">Japan Flow IV</a>). All that series should tell you that "flows matter" and it should give you some idea of when flows may come and their impact. In this case though, I thought the seasonality data was worth…

Pelham Smithers came out with a worthwhile comment on the Q4 seasonality of Japanese markets. I agree with their assessment of being bullish Japan into Q4 as discussed in my ongoing "Japan Flow" series about BOJ ETF buying (I, II, and III) and activity by foreigners on the TSE over time (Japan Flow IV). All that series should tell you that "flows matter" and it should give you some idea of when flows may come and their impact. In this case though, I thought the seasonality data was worth…

Japan Stock Market Seasonality - Late Q4 Is Indeed Good

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

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. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Two recent press articles "Muddy Waters and Andrew Left: the short sellers having a ball" ( <a href="https://www.ft.com/content/8f87b1da-70c7-11e6-a0c9-1365ce54b926" target="_blank">https://www.ft.com/content/8f87b1da-70c7-11e6-a0c9-1365ce54b926</a> ) and a piece by Breakingviews' Quentin Webb "Building Consensus" ( <a href="http://www.breakingviews.com/considered-view/tokyos-analysts-outperform-on-a-bad-metric/" target="_blank">http://www.breakingviews.com/considered-view/tokyos-analysts-outperform-on-a-bad-metric/</a> ) document the rise and the need for short sell research in the Japanese stock market. However, like much about the Japanese stock market, we would argue that the situation is nothing…

Two recent press articles "Muddy Waters and Andrew Left: the short sellers having a ball" ( https://www.ft.com/content/8f87b1da-70c7-11e6-a0c9-1365ce54b926 ) and a piece by Breakingviews' Quentin Webb "Building Consensus" ( http://www.breakingviews.com/considered-view/tokyos-analysts-outperform-on-a-bad-metric/ ) document the rise and the need for short sell research in the Japanese stock market. However, like much about the Japanese stock market, we would argue that the situation is nothing…

Short Sell Research Vs The Japan Stock Market Blob

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Carriers have withdrawn extremely low spot market freight rates on some, but not all, routesDrewry’s Global Freight Rate Index, a weighted average of spot container freight rates across all major routes except intra-Asia, swung back in Q216 by 13% to reach $1,403 per 40ft box. The global spot rate index had dropped to an all-time low of $1,113 per 40ft container in April.The 26% jump in the global rate index between April and July follows the recent tendency of ocean carriers to increase rates…

Carriers have withdrawn extremely low spot market freight rates on some, but not all, routesDrewry’s Global Freight Rate Index, a weighted average of spot container freight rates across all major routes except intra-Asia, swung back in Q216 by 13% to reach $1,403 per 40ft box. The global spot rate index had dropped to an all-time low of $1,113 per 40ft container in April.The 26% jump in the global rate index between April and July follows the recent tendency of ocean carriers to increase rates…

Container Shipping - Freight Rates Bottoming Out ?

The Topix pharmaceutical index (TPPHRM) fell to 2,355 just after the lunch break in Tokyo on Friday 19th August, before recovering to 2,377, with the market's afternoon rally. That though was still a 52-week daily-close low. In August, alone, the sector is down 10%. This can in part be explained by bad news - <a href="https://www.smartkarma.com/entities/8979" target="_blank" data-smartkarma-citation="entities:8979:1">Ono Pharmaceutical</a>'s shares have been hit by negative news over Opdivo (see <a href="https://www.smartkarma.com/insights/opdivo-fails-nsclc-test" target="_blank" data-smartkarma-citation="insights:5134">Opdivo Fails NSCLC Test)</a> - however, <a href="https://www.smartkarma.com/entities/4489" target="_blank" data-smartkarma-citation="entities:4489:1">Chugai Pharmaceutical</a> has fallen from ¥3,865 to ¥3,205 over the same time and…

The Topix pharmaceutical index (TPPHRM) fell to 2,355 just after the lunch break in Tokyo on Friday 19th August, before recovering to 2,377, with the market's afternoon rally. That though was still a 52-week daily-close low. In August, alone, the sector is down 10%. This can in part be explained by bad news - Ono Pharmaceutical's shares have been hit by negative news over Opdivo (see Opdivo Fails NSCLC Test) - however, Chugai Pharmaceutical has fallen from ¥3,865 to ¥3,205 over the same time and…

This is the latest in a series of JAPAN FLOW regarding historical, recent, and forward flow dynamics of Japan equities.The series to date is:<table class="table table-striped"><tbody>
<tr>
<td>Date</td>
<td>Number</td>
<td>Title</td>
</tr>
<tr>
<td>4-Aug-16</td>
<td>Japan Flow I</td>
<td><a href="https://www.smartkarma.com/insights/japan-flow-i-the-boj-s-new-etf-buying" target="_blank">The BOJ's New ETF Buying</a></td>
</tr>
<tr>
<td>12-Aug-16</td>
<td>Japan Flow II</td>
<td><a href="https://www.smartkarma.com/insights/japan-flow-ii-just-what-etfs-does-the-boj-buy-could-we-see-an-april2000-style-nikkei-225-rebal" target="_blank">Just What ETFs Does the BOJ Buy? Could We See an April2000-Style Nikkei 225 Rebal?</a></td>
</tr>
<tr>
<td>20-Aug-16</td>
<td>Japan Flow III</td>
<td><a href="https://www.smartkarma.com/insights/japan-flow-iii-the-mechanics-of-boj-buying" target="_blank">The Mechanics of BOJ Buying</a></td>
</tr>
</tbody></table>This new one discusses investor class flow dynamics, cycles, and trends and pressures going forward.The TSE (now JPX) historically releases the…

This is the latest in a series of JAPAN FLOW regarding historical, recent, and forward flow dynamics of Japan equities.The series to date is:

Date
Number
Title


4-Aug-16
Japan Flow I
The BOJ's New ETF Buying


12-Aug-16
Japan Flow II
Just What ETFs Does the BOJ Buy? Could We See an April2000-Style Nikkei 225 Rebal?


20-Aug-16
Japan Flow III
The Mechanics of BOJ Buying

This new one discusses investor class flow dynamics, cycles, and trends and pressures going forward.The TSE (now JPX) historically releases the…

JAPAN FLOW IV:  Foreign Flows Matter, & They Have Clear Cycles

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)

Japan Stock Market Seasonality - Late Q4 Is Indeed Good

Pelham Smithers came out with a worthwhile comment on the Q4 seasonality of Japanese markets. I agree with their assessment of being bullish Japan...

Travis Lundy

Short Sell Research Vs The Japan Stock Market Blob

Two recent press articles "Muddy Waters and Andrew Left: the short sellers having a ball" (...

Pelham Smithers Associates

Container Shipping - Freight Rates Bottoming Out ?

Carriers have withdrawn extremely low spot market freight rates on some, but not all, routesDrewry’s Global Freight Rate Index, a weighted average...

Drewry Maritime Financial Research

Japan Pharma Hits 52 Week Low

The Topix pharmaceutical index (TPPHRM) fell to 2,355 just after the lunch break in Tokyo on Friday 19th August, before recovering to 2,377, with...

Pelham Smithers Associates

JAPAN FLOW IV: Foreign Flows Matter, & They Have Clear Cycles

This is the latest in a series of JAPAN FLOW regarding historical, recent, and forward flow dynamics of Japan equities.The series to date is:This...

Travis Lundy

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