In today’s briefing:
- Good Morning Japan | Recession Fears (Again)
- Market Strategy – A New Base Case as China Is Finally Rescuing Itself
Good Morning Japan | Recession Fears (Again)
- 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: Recession fears reassert, 10/11 SPX sectors in red; Wall street to cut staff; Pepsi cutting staff; Oil making lows; TSMC to lift Arizona Spend to $40bn
- JAPAN: Futs indicate -0.8% for NKY cash; Amazing NKY recovery yesterday – we have no clue; Japan consumers spending; Decarbonization spend accelerating; DX too; Kyowa Kirin product failure
Market Strategy – A New Base Case as China Is Finally Rescuing Itself
- As we highlighted in a separate note published today, there are moves in easing of Covid-policy in cities like Shenzhen and Shanghai over the weekend scrapping the requirement for commuters to present PCR test results to travel on public transport, following similar moves by Tianjin, Chengdu, and Chongqing.
- People in Beijing, Guzhou, Zhejiang province, and other cities could buy drugs to ease coronavirus symptoms without real-name registration.
- We believe these are precursors to further relaxation and opening of China.
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