In today’s briefing:
- Good Morning Japan | Fed Raised Hopes-Dashed by Jobs but PMI Supportive
- Japan Weekly | 3 Growth Stocks to Buy on the Dip
- The Innovation Portfolios – Week 2
- China to End Zero COVID Policy? – Reexamine the Reopening Timeline and Potential Impact
Good Morning Japan | Fed Raised Hopes-Dashed by Jobs but PMI Supportive
- Good Morning Japan: We strive to provide the best macro, stock and thematic overnight news that impacts your trading day in Japan. FOLLOW TO KEEP ABREAST.
- OVERSEAS: STRONG Jobs numbers- dent in Fed pivot narrative; BUT Nov Manuf PMI supportive w/Contraction; SPX -0.1%, intraday-Lower left upper right day; Big airplane UAL order for BA.
- JAPAN: Focus: WCup. JP vs Croatia tonight; USDJPY 134 handle; Energy security: Govt wants LNG reserves+New plants; Weak Nov retail numbers; Retailer Nojima blazing the trail with +6% wage hike
Japan Weekly | 3 Growth Stocks to Buy on the Dip
- After leading the market higher in 2021, growth stocks have significantly underperformed over the past 12 months.
- Valuations may not yet have reached rock bottom levels and all these 3 stocks still trade at a premium to our universe of 14x PE
- These 3 stocks all have strong long-terms structural drivers that make buying on the dip attractive for patient investors
The Innovation Portfolios – Week 2
- We again write about one stock each from the large, mid and small cap portfolios, briefly giving the reasons behind their the innovation scores and inclusion in the portfolio.
- The three companies are Taiwan Semiconductor (TSMC) – ADR (TSM US) , Infosys Ltd Sp Adr (INFY US) and Borgwarner Inc (BWA US)
- For the two weeks ended 2 Dec the large cap portfolio was up 2.8%, the midcap was up 3.4% and the small cap was up2.1%, all in US$ terms.
China to End Zero COVID Policy? – Reexamine the Reopening Timeline and Potential Impact
- The latest press conference has many statements that appeared publicly for the first time or were rarely used before,which reflected the intention to pave the way for the tone change.
- We don’t expect there would be an official announcement stating clearly “ending the Zero COVID policy”, but policy adjustments would be made accordingly. The reopening timeline could be brought forward.
- The economic problem is not simply caused by the pandemic, which is just the last straw to topple the dominoes. We analyzed the impact of reopening and investment opportunities.
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