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

Equity Bottom-Up

The decision by Seoul to put a bill before its parliament banning Bitcoin trading while at the same time investigating exchanges for tax evasion (not necessarily by the exchanges, as it could be by their customers), sent the price of Bitcoin down below US$14,000, but also led to a sell-off in Japan in stocks involved in Bitcoin trading. The latter move is somewhat ironic given that these exchanges are likely winners if Koreans are forced to trade Bitcoin on overseas exchanges, having been a beneficiary of a similar move by Beijing a year earlier. This, though, underscores the big problem in the Japanese stock market, which is the tangling up of the Bitcoin boom, with the overall digital currency story and the development of Blockchain. The stock market appears to view the three as perfectly fungible, which is an understandable error, but one all the more ironic given the likely role of digital currencies and, especially, Blockchain, in Japan's financial industry future.

The decision by Seoul to put a bill before its parliament banning Bitcoin trading while at the same time investigating exchanges for tax evasion (not necessarily by the exchanges, as it could be by their customers), sent the price of Bitcoin down below US$14,000, but also led to a sell-off in Japan in stocks involved in Bitcoin trading. The latter move is somewhat ironic given that these exchanges are likely winners if Koreans are forced to trade Bitcoin on overseas exchanges, having been a beneficiary of a similar move by Beijing a year earlier. This, though, underscores the big problem in the Japanese stock market, which is the tangling up of the Bitcoin boom, with the overall digital currency story and the development of Blockchain. The stock market appears to view the three as perfectly fungible, which is an understandable error, but one all the more ironic given the likely role of digital currencies and, especially, Blockchain, in Japan's financial industry future.

Japanese Equities - Separating the Crypto Theme from Bitcoin Froth and the Blockchain Opportunity

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Mizuho Financial Group / Technical Analysis

After calling for a mushroom rally in the Nikkei from 21,000 our focus turned to gearing up in Japan bank stocks (SMFG and Mitsubishi UFJ) back in October 2017 in anticipation of the Japan bank/insurance index breaking through the 200 macro breakout barrier. Currently this index is at 212.86 with much higher levels in store. In fact, Japan banks are just starting a major up cycle that will be gather steam once the USD/JPY clears 114.40.With the Nikkei moving into a frothier zone, Mizuho…

After calling for a mushroom rally in the Nikkei from 21,000 our focus turned to gearing up in Japan bank stocks (SMFG and Mitsubishi UFJ) back in October 2017 in anticipation of the Japan bank/insurance index breaking through the 200 macro breakout barrier. Currently this index is at 212.86 with much higher levels in store. In fact, Japan banks are just starting a major up cycle that will be gather steam once the USD/JPY clears 114.40.With the Nikkei moving into a frothier zone, Mizuho…

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  Notable themes include:<ul><li>Add exposure to Energy and Materials. </li><li>Financial stocks are strengthening. </li><li>Avoid Australian banks. </li></ul>See the attached report for a complete list of our recommendations from this list.

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  Notable themes include:Add exposure to Energy and Materials. Financial stocks are strengthening. Avoid Australian banks. See the attached report for a complete list of our recommendations from this list.

Silver Point

Thomas J. Monaco

Silver Point is a boutique research firm that focuses on the broader financial services sector, with a particular focus on troubled institutions globally. 

Asia Ex Japan

Asia Commercial Bank/Vietnam / Equity Bottom-Up

* Fully-loaded problem loan figures are a major concern, as is the size of  Level 3 asset and net open short F/X position. Loan loss reserves need a significant shoring up, and there is no doubt, in our view, that some form of major re-capitalization/balance sheet restructure at Asia Commercial Bank (ACB.VN) is on its way.* Not only does Standard Chartered plc (2888.HK/STAN.LN) push the aggressive accounting envelope with its consolidated subsidiaries, but it does so with minority- owned…

* Fully-loaded problem loan figures are a major concern, as is the size of  Level 3 asset and net open short F/X position. Loan loss reserves need a significant shoring up, and there is no doubt, in our view, that some form of major re-capitalization/balance sheet restructure at Asia Commercial Bank (ACB.VN) is on its way.* Not only does Standard Chartered plc (2888.HK/STAN.LN) push the aggressive accounting envelope with its consolidated subsidiaries, but it does so with minority- owned…

Mitsubishi UFJ Financial (MUFG) / Equity Bottom-Up

* Bank Danamon is additive to MUFG’s ASEAN strategy, bringing it's foreign content of EPS to 50%.* From a financial and managerial perspective, Bank Danomon is a time consuming and expensive transaction. Greater EPS accretion could be garnered more simply and without the risks execution, and being in Indonesia.   * Focus, in our view, would be better spent on repairing/restructuring the US operation (s) whose overall business appears to have stalled, and where greater EPS and price performance…

* Bank Danamon is additive to MUFG’s ASEAN strategy, bringing it's foreign content of EPS to 50%.* From a financial and managerial perspective, Bank Danomon is a time consuming and expensive transaction. Greater EPS accretion could be garnered more simply and without the risks execution, and being in Indonesia.   * Focus, in our view, would be better spent on repairing/restructuring the US operation (s) whose overall business appears to have stalled, and where greater EPS and price performance…

MUFG – Bank Danamon Deal Makes Little Sense

Japan

Mizuho Financial Group, Inc. provides comprehensive financial services through its subsidiaries. The Group provides variety of financial services such as general banking, securities brokerage, trust banking, and assets management.

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Mizuho Financial Group (8411 JP)

Japanese Equities - Separating the Crypto Theme from Bitcoin Froth and the Blockchain Opportunity

The decision by Seoul to put a bill before its parliament banning Bitcoin trading while at the same time investigating exchanges for tax evasion...

Pelham Smithers Associates

Mizuho Financial Rotation Long

After calling for a mushroom rally in the Nikkei from 21,000 our focus turned to gearing up in Japan bank stocks (SMFG and Mitsubishi UFJ) back in...

Thomas Schroeder

Popular Stocks, Attractive Charts

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform...

Vermilion Research

Asia Commercial Bank – Too Much Credit

* Fully-loaded problem loan figures are a major concern, as is the size of Level 3 asset and net open short F/X position. Loan loss reserves need...

Thomas J. Monaco

MUFG – Bank Danamon Deal Makes Little Sense

* Bank Danamon is additive to MUFG’s ASEAN strategy, bringing it's foreign content of EPS to 50%.* From a financial and managerial perspective,...

Thomas J. Monaco

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