Fidelity Japan Share Discussion Threads

[knowing] 10/10/2007 20:43

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 07:29

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 19:54

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

[knowing] 09/10/2007 18:53

http://www.bloomberg.com/apps/news?pid=20601084&sid=awX84820YHjA&refer=stocks

[knowing] 05/10/2007 19:54

http://www.bloomberg.com/apps/news?pid=20601084&sid=awX84820YHjA&refer=stocks

[cyborg27] 05/10/2007 19:27

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 17:43

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 17:26

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 09:47

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

[kingfast] 02/10/2007 13:13

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

[isa23] 27/9/2007 10:16

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

[cyborg27] 27/9/2007 09:58

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 09:21

Cyborg this could have a positive ripple effect on Japan http://www.bloomberg.com/apps/news?pid=20601084&sid=akYCsqji_9PM&refer=stocks

[knowing] 27/9/2007 09:16

http://www.businessworld.ie/livenews.htm?a=1849141;s=rollingnews.htm Also oil has dropped off from it's recent highs which will add benefit.

[knowing] 27/9/2007 08:24

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

[cyborg27] 27/9/2007 06:42

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.

[knowing] 26/9/2007 21:24

http://www.bloomberg.com/apps/news?pid=20601084&sid=axiDz0gmkl0A&refer=stocks

[cyborg27] 26/9/2007 18:31

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 15:07

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 09:44

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.

[cyborg27] 20/8/2007 09:52

Smaller companies didn't rise much + Yen weakening = not very good.

[knowing] 16/8/2007 07:15

Tokyo shares close sharply lower on US subprime, credit fears; firm yen TOKYO (Thomson Financial) - Japanese shares closed sharply lower on Thursday, as worsening anxiety over fallout from the subprime loans market in the US and tighter credit saw investors scrambling to exit equities in search of more safe haven investments. A stronger yen also weighed on exporters whose earnings typically benefit from a soft local currency. However the benchmark index managed to finish well off its intraday low as some intrepid bargain hunters stepped in late in the day to take advantage of the recent feverish selling. The blue-chip Nikkei 225 Stock Average finished down 327.12 points or 2.0 percent at 16,148.49, its lowest close since Nov 29 last year, but well off the intraday low of 15,859.46, its weakest mark since last Nov 28. By the close the Nikkei was almost 12 percent below its seven year high of 18,300.39 points, touched last Feb 26. The broader TOPIX index plunged 26.69 points, or 1.7 percent, to 1,567.46 after touching a low of 1,529.98. Decliners outnumbered gainers 1,469 to 206, with 206 issues unchanged. The volume of trade reached an estimated 2.68 billion shares, up from 2.03 billion Wednesday. Today's selling was triggered by another deep slide on Wall Street overnight, with the Dow Jones Industrial Average index shedding 1.3 percent to close below 13,000 points for the first time since April 24. A further liquidity injection into the money market by the Federal Reserve fail to calm investor fears of a looming credit crunch. In the forex market the yen was broadly stronger, dipping briefly below 116.0 to the dollar.