Higher Yen and Commodity Prices See Japan’s Soga Sosha Look For EV and Energy Plays

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    Tankan Survey For Feb

    February manufacturers’ sentiment index +29 (vs +35 in Jan., an 11 year high)
    Service-sector index +33 (unchanged from Jan.)

    – manufacturers’ sentiment index expected to rise to 30 in May

    – service index also expected at 30 in May

    “Our consolidated profits have deteriorated because of a strong yen,” a manager of a transport equipment maker wrote in the survey.
    A metal product maker said: “We are suffering from the repercussions of China’s environmental regulation and restrictions on natural gas supply, which have severely affected manufacturers.”

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