Fidelity Japan Share Discussion Threads

[knowing] 29/10/2007 10:26

Japan's Stocks Surge on Earnings; Topix Has Best Day in a Month

By Patrick Rial and Kotaro Tsunetomi

Oct. 29 (Bloomberg) -- Japanese stocks rose, with the Topix index advancing the most in a month. Nissan Motor Co. soared 14 percent after it reported profit that beat analysts' estimates, boosting confidence in the worst-performing developed market.

[knowing] 11/10/2007 07:49

Moodys raises debt rating for Japan

[knowing] 10/10/2007 21:43

Wednesday, October 10, 2007 12:30:06 PM ET
Dresdner Kleinwort Wasser.

LONDON, October 10 (newratings.com) - Analysts at Dresdner Kleinwort say that the Bank of Japan (BoJ) is likely to leave interest rates unchanged at its Thursday meeting.

In a research note published this morning, the analysts mention that recent economic data on Japan shows that there is no excuse for the BoJ to raise rates. Slowing economic growth and deflation are the two main characteristics of the Japanese economy, Dresdner Kleinwort says. The BoJ is likely to also want to take more time to assess the impact of the recent credit crunch and might delay a rate change for that reason as well, the analysts add.

[john hampton] 10/10/2007 08:29

Just seen you can trade these on IG Index, can even get a price for Jun '08 so ideal for me, so instead of lumping out £10k I can keep that on deposit & go long at £150 pt with say a 10pt spread, so max deposit £1500 & max possible loss & no tax to pay on any gains, sounds like the sensible way to trade these days?

[john hampton] 09/10/2007 20:54

Looks like a technical bounce off 2004 support 60p level. Certainly looks like a buy if 60p holds firm.

[cyborg27] 05/10/2007 20:27

You could say that about any share when sentiment is poor. At some point pension funds etc should buy-in, particularly where there is a decent discount. These could be large trades. Sentiment seems to be improving towards smaller companies in Japan, and at some point Japan ITs here will be noticed as too cheap. It has to start somewhere. Remember, nothing succeeds like success!

[cyborg27] 05/10/2007 18:43

I have some Invesco-Perpetual Japan Samaller companies oeic, and the NAV is up around 1% today. I reckon FJV will probably jump a few pence soon to narrow the discount.

[knowing] 05/10/2007 18:26

Yes alot of the oversold funds like Legg Mason are starting to move higher again.I hope that the news today may lift markets next week.

[cyborg27] 05/10/2007 10:47

Smaller companies are still out-performing. The discount could do with narrowing though.

[kingfast] 02/10/2007 14:13

Lets not have a blizzard of selling this afternoon.....thank you so much in advance.

[isa23] 27/9/2007 11:16

NAV should be closer to 75p now as todays' NAV is for close of business on 26th Sep

[cyborg27] 27/9/2007 10:58

Valuations in asia are already pretty high, at some point the focus should move to undervalued sectors, and hopefully Japanese smaller companies.

[knowing] 27/9/2007 10:21

Cyborg this could have a positive ripple effect on Japan

[knowing] 27/9/2007 10:16

Also oil has dropped off from it's recent highs which will add benefit.

[knowing] 27/9/2007 09:24

Seems to be alot of good vibes coming out of Japan presently.

[cyborg27] 27/9/2007 07:42

Substantially up again. Interesting thing is that smaller companies have been left out of rises for quite a while before this. It's looking better.

[cyborg27] 26/9/2007 19:31

Invesco Japan Smaller Companies Oeic has risen 6% in two days. Are we getting a re-rating at last as the new government has said it will help smaller companies?

[knowing] 19/9/2007 16:07

Japan year to July average commercial land price rises for 1st time in 16 years


TOKYO (Thomson Financial) - The average price of commercial land in Japan
rose 1.0 percent in the year to July 1, its first rise in 16 years and the
strongest evidence yet that the world's second-largest economy is gradually
escaping from years of deflation, the Land Ministry said Wednesday.
According to the results of a survey conducted by the ministry, the average
price of residential land in Japan slipped 0.7 percent during the period,
falling for the 16th year, although the fall was smaller than the 2.3 percent
decline a year earlier.
The ministry's annual survey examines the prices of 24,374 properties based
on appraisals by real estate valuers, every July 1.
In the metropolitan areas of Tokyo, Osaka and Nagoya, average prices of both
residential and commercial land increased for the second straight year. The
average price of residential land rose 4.0 percent and the average price of
commercial land increased 10.4 percent, the largest increase since 1990, when it
rose 16.6 percent.
Amid Japan's economic recovery, the rising trend of land prices in each
metropolitan area continued to be supported by brisk demand for condominium
units and offices as well as by a recovery in corporate profits. The uptrend in
prices also spread to the surrounding areas.
In metropolitan Tokyo, the average price of residential land increased 4.8
percent, rising for the second consecutive year. The average price of
commercial land increased 12.1 percent, also rising for the second straight year
and posting its biggest increase since 1988, when it rose 15.8 percent.
In Tokyo's 23 central wards, the average price of residential land was up
13.1 percent from the previous year and the average price of commercial land
was up 20 percent.
In metropolitan Osaka, the average price of residential land rose 2.9
percent after being flat the year before. It was the first rise in 17 years. The
average price of commercial land climbed 8.0 percent, rising for the second
straight year.
In metropolitan Nagoya, the average price of residential land price grew 2.4
percent, the first rise in 16 years, while the average price of commercial land
rose 7.2 percent, up for the second straight year.
But economists doubt there would be a repeat of the asset price bubble of
the 1990s that later burst, leaving Japanese banks with saddled with huge debts.
The annual survey showed that the downtrend in land prices in most of the
rural areas remained.
The average price of residential land in rural areas fell 2.3 percent, down
for the 15th straight year, while the average price of commercial land dropped
2.6 percent, down for the 16th year. But in both cases, the declines were
smaller than previously.
"The mini-bubble in the major cities appears to be nearing its end due as
massive redevelopment projects appear to have peaked," Societe Generale Asset
Management senior economist Akio Yoshino said.
"Because of lessons from past experience, Japanese financial institutions
continue to show a conservative stance in extending loans related to asset
investments, while investors have become more reasonable in weighing risks and
returns, shifting funds quickly to other investment assets such as stocks, when
the returns on asset-related products such as real estate investment trusts
fall," said Daiwa Institute of Research senior economist Junichi Makino.
"So, it is fair to think that land prices will continue to be reasonably
priced going forward," he said.
A much-awaited rebound in land prices appears to support the Bank of Japan's
case for increasing interest rates from their present low levels, but economists
are cautious about reading too much into the latest figures.
"When signs begin to emerge that the rise in land prices may be moderating
even in the major cities, the Bank of Japan could misjudge its policy call if it
pegs monetary policy solely on land prices," Yoshino said.
BoJ governor Toshihiko Fukui has said he is not worried about the
possibility of another asset bubble.
He said that while rising land prices in major cities such as Tokyo, Osaka
and Nagoya look "somewhat rapid, they have not deviated notably" from fair value
levels based on a discounted cash flow method.
"It is difficult for us to base our monetary policy just on land prices or
the foreign exchange market, but we will bear in mind these developments and
make appropriate policy judgements," Fukui said.

[knowing] 23/8/2007 10:44

Bank of Japan monitors markets to see if recent turmoil hurt economy - UPDATE


TOKYO (Thomson Financial) - Bank of Japan (BoJ) governor Toshihiko Fukui
said Thursday that the central bank has been closely monitoring the global
financial markets to see if recent turmoil has had any impact on the country's
nascent economic recovery.
In his post-policy board meeting press conference, he gave no fresh hints on
when the central bank might adjust its interest rates, while making it clear
that the recent market volatility was a major factor in today's decision to keep
rates on hold.
"Economic data that has been released since the last policy board meeting
confirms the steady expansion of the Japanese economy, but because global
financial markets have turned highly volatile, we found it necessary to gather
more information on developments in the financial and credit markets," Fukui
said.
"By assessing the feasibility of our standard economic scenario and risks,
we will make an appropriate policy decision," he said.
Earlier the BoJ's nine member policy board voted by eight to one to keep the
overnight call rate target unchanged at 0.50 percent, the seventh straight
meeting it has left the rate intact.
With markets battered by the US subprime mortgage loan troubles, which also
sparked fears of a global credit crunch, many central banks around the world
came to the rescue over the past week pumping hefty amounts of liquidity into
their respective banking systems.
Those moves, along with the US Federal Reserve's unexpected decision last
Friday to cut its discount rate for loans to banks, helped quell some of the
credit fears.
"I understand that global credit markets are now in the process of
re-pricing risk, and we need to see if the current re-pricing proceeds in an
orderly fashion, or if it develops in a disorderly manner," Fukui said.
In particular the BoJ wants to closely monitor how risk re-pricing affects
the US economy, one of Japan's major trading partners.
"The US economy, while losing some momentum as the housing market continues
to undergo a correction, is generally perceived to be able to (eventually)
return to its potential growth pace," Fukui said.
"But we need to see if the credit market woes will affect housing investment
and corporate finances, as well as how the recent financial market turmoil
affects corporate and consumer confidence," he said.
Fukui said Japanese banks have weathered the subprime storm and will
continue to do so.
"The US subprime loans problem has not damaged the Japanese banking system
and will not shake it going forward," he said.
However he expects the current problems in credit markets to take some time
to resolve.
"For instance, the ABCP (asset backed commercial paper) market has
effectively stopped working and it is not likely to recover in just a few weeks.
"Overall, the process of risk re-assessment, which has been necessary, will
take some time before being completed and it will be painful," he said.
"During this painful process (further) liquidity problems could emerge,"
which central banks will have to address through additional fund injections.
But Fukui stressed that central banks will not bail-out any financial
institutions that have sustained losses in the subprime market, as they
undertake risk re-pricing.
"We will not take over losses stemming from the process of risk-repricing
just to ease their pain," Fukui said.
And while the BoJ kept its key rate unchanged again today, Fukui warned that
leaving interest rates too low for too long runs the risk of distorting
financial market development.
He said the bank remains committed to adjusting rates in accordance with
improvements in the economy and prices.
"As I have repeatedly warned, leaving interest rates too low for too long
can distort the distribution of resources in the financial market," Fukui said.
"But we are not going to manage the policy by pre-setting any time-schedule
in advance," he said.