Morgan Stanley Calls U.S. Stock Market Rally a FOMO Head Fake

US Bank Morgan Stanley’s Monday note to clients called the recent rally on the equity market a head fake and driven by the fear of people missing out (FOMO). Many pundits have been shocked by the rise in stock markets in the U.S. given the U.S. bank crisis that saw three of the four largest bank collapses in history this year, the U.S. debt ceiling crisis and Yellen imposed X date on June 1 for a default by the U.S. … Continue reading “Morgan Stanley Calls U.S. Stock Market Rally a FOMO Head Fake”

Japanese Defense and Reopening Stocks Cushioned the Nikkei Dow and Topix in 2022

Japan’s blue chip Nikkei stock market ended down -9.4% at 26,094 for the year. On the last day of the trading year the Nikkei was flat and -0.5% for the week. The broader Topix Index closed down 5.1% to 1,892 in 2022. These were the indices first annual losses since 2018. Japanese stocks have outperformed this year on the BOJ’s divergence from the tightening course of other major central banks. The Topix loss of 5.1% compares with losses of about … Continue reading “Japanese Defense and Reopening Stocks Cushioned the Nikkei Dow and Topix in 2022”

Japanese Manufacturers Sentiment Sinks to Five Month Low – Reuters Tankan

The monthly Reuters Tankan survey indicates Japanese manufacturer’s sentiment fell to the lowest in five months as higher input costs and a weak yen soured the mood of Japanese firms. The Reuters Tankan sentiment index for manufacturers in Japan dropped to 5 in October 2022. The index fell for the second straight month after a reading of 10 in September. The service sector index +15 vs +11 in September. In the Sept. 28-Oct. 7 poll of 495 big companies, out … Continue reading “Japanese Manufacturers Sentiment Sinks to Five Month Low – Reuters Tankan”

Japanese Industrial Production Plummets to -7.2% m/m in May

Japan’s preliminary industrial production for May 2022 came in at -7.2% m/m much lower than the expected -0.3% m/m and the April reading of -1.5%. Two years ago, deep in the pandemic industrial production was -4.2% m/m. Production in the auto sector continues to suffer from a global parts supply crunch as output of cars and other motor vehicles suffer. Earlier today Toyota reported they missed its production targets for May with overall production levels through the first five months … Continue reading “Japanese Industrial Production Plummets to -7.2% m/m in May”

Japanese Consumers Spending at Steepest Pace Since May 2021

Japan’s retail sales rose for the third straight month in May 2022 and at the steepest pace since May 2021. The lift came from the strength in consumption as the government has lifted all COVID-19 restrictions. Japanese sales of general merchandise picked up sharply at 20.7% vs 8% in April with faster rises in sales of fabric apparel & accessories at 11.8% vs 9.7%. Meanwhile, sales of motor vehicles dropped for the ninth consecutive months -10.1% vs -7.5%.  Auto sales … Continue reading “Japanese Consumers Spending at Steepest Pace Since May 2021”

The Japanese NIKKEI Stock Market Closed Up 16% in 2020 Near 30 Year Highs

Japan’s Blue Chip Nikkei 225 ended the year 16% higher at 27444.17 near 30 year highs. Japanese stocks were boosted by safe haven yen buying and massive BoJ ETF purchases and monetary policy fed optimism surrounding COVID-19 vaccines and unprecedented stimulus measures from global central banks boosting risk sentiment.

Sony Shares Soar Over 12% on PlayStation Gaming Profits

Japanese electronic giant Sony $SNE reported better than expected fiscal second-quarter earnings wirh a robust performance from its PlayStation gaming business, and forecast that it expects its best profit since 1998 next quarter. The ADR was up 12.5%.