Jpmorgan Japanese Invest... Share Discussion Threads

[asmagliocco] 01/11/2005 16:46

Thanks megSta for the valuable tables on the thread. I was about to come back into JFJ but on looking through the "top 10 sectors" for the listed trusts, I saw that BGS seems currently to be the most invested in property (real estate and construction).

With the crash in property prices possibly having exceeded that of the stock market, I wanted exposure to it since it should be a key sector if we really are this time entering a prolonged recovery phase.

[knowing] 31/10/2005 11:27

TOKYO: The Bank of Japan said that it expects the world's number two economy to break decisively out of deflation by next year as it upgraded its forecasts to show 1.8 percent growth in the year to March 2007.

In its twice-yearly economic outlook, the central bank said the chances of a change to its expansionary monetary policy were likely to increase from April.

But it said interest rates would remain "very low" for a period after the first change to its policy, under which it floods the financial system with cash to try to stem consumer price falls and stimulate growth.

The world's number two economy has been caught in the grip of deflation for more than seven years but is now on the road to recovery after a decade-long slump seen since Japan's "bubble economy" burst in the early 1990s.

The Bank of Japan says it is close to winning its long battle with deflation, which is considered damaging for an economy because it deters individuals from spending today rather than tomorrow and hits company profits.

The central bank now expects consumer price changes to reach zero or turn positive towards the end of 2005.

It sees a rise in core consumer prices of 0.1 percent in fiscal 2005, which ends in March 2006, compared with a decline of 0.1 percent previously forecast.

Inflation is now expected to pick up to an annual pace of 0.5 percent in the fiscal year 2006 compared with an April forecast of 0.3 percent.

The Bank of Japan has vowed to keep pumping cash into the economy until deflation gives way to mild inflation as part of its near-zero interest rate policy, which it left unchanged as expected Monday.

Based on its forecasts, the central bank said the possibility of a change to the present monetary policy framework was "likely to increase over the course of fiscal 2006."

But the Bank of Japan said it would be in no rush to raise interest rates after it changes its current policy of making funds of 30-35 trillion yen (260-300 billion dollars) available to banks.

The report predicted "a period of very low short-term interest rates followed by a gradual adjustment to a level consistent with economic activity and price developments."

The central bank also raised its forecasts for gross domestic product growth to 2.2 percent in fiscal 2005 from 1.3 percent previously, and to 1.8 percent in fiscal 2006 from 1.6 percent.

"Japan's economy continues to recover, having emerged from the temporary pause that began in the second half of 2004," the report noted.

Overall economic activity had been more robust than predicted in April thanks to unexpectedly strong domestic private demand which more than offset lower-than-expected exports, it added.

The adjustments in production and inventory in technology-related sectors, which caused the economy's soft patch last year, appear to have run their course, the central bank said.

"From the second half of fiscal 2005 through fiscal 2006, Japan's economy is likely to experience a sustained period of expansion at a pace slightly above its potential," the report predicted.

- AFP /ct

[knowing] 31/10/2005 10:23

Cheers Meg and good luck. Will copy that RNS onto main JAP thread for info too if OK.

[megsta] 31/10/2005 10:21

RNS Number:3403T
JPMorgan Fleming Japanese IT PLC
28 October 2005


JPMORGAN FLEMING JAPANESE INVESTMENT TRUST PLC

Increase in Gearing

JPMorgan Fleming Japanese Investment Trust plc announces that it has raised its
gearing back to 115% from 105%, by buying back the short Topix futures position
taken out on 28th September. This has yielded a very small loss. The Managers
believe that the overbought position of the market has largely unwound, and
remain confident of the sustainability of the domestic economic recovery in
Japan.

[megsta] 13/10/2005 09:29

Hi Knowing, you can find some info on the Legg Mason fund here: and here:Legg Mason Japan Equity A Fund performance   3 mth 6 mth 1 yr 3 yr 5 yr Fund -4.30% 6.61% 17.36% 127.11% 10.69% Sector 16.54% 22.12% 22.79% 61.21% -21.90% Relative to sector -20.84% -15.52% -5.42% 65.90% 32.59% Rank within sector 73 / 73 72 / 72 59 / 66 2 / 61 2 / 50  Fund performance by calendar year   YTD 2004 2003 2002 2001  Fund 20.09% 28.43% 56.40% -21.94% -16.37%  Sector 22.14% 6.30% 23.26% -18.06% -26.45%  Relative to sector -2.04% 22.13% 33.14% -3.88% 10.09%

[knowing] 11/10/2005 15:10

Meg could you add the Legg mason Japan fund to your chart please. Would love to see how it compares.

[megsta] 11/10/2005 15:01

NAV back up to 267.49 after Nikkei recovery

[markth] 01/10/2005 18:54

I too believe current uptrend has much further to run. Take a look at the five year chart and see how the current share price compares to where it has been.

Hard to find value these days; Japan looks about the best. UK bank stocks looking quite cheap too though. Anyone for a retailer share or two?

[tiraider] 01/10/2005 13:39

Next res on the Nikkei is 14800ish. I'm happy to hold whilst the upward trend is in place.
Meanwhile, NAV is up again to 273p
rgds to all.
tr

Net Asset Value(s)

RNS Number:0172S
JPMorgan Fleming Japanese IT PLC
30 September 2005
THE NET ASSET VALUE IN PENCE AT PAR AS AT MARKET CLOSE ON 29TH SEPTEMBER 2005
WAS AS FOLLOWS:

JPMORGAN FLEMING JAPANESE INVESTMENT TRUST PLC: 273.67

[stillbroke] 29/9/2005 11:56

Agree with managers. I'm out for now, will keep an eye on.

[markth] 29/9/2005 08:35

Moved to a premium today. Managers have reduced gearing from 115% to 105%, believing that the market is overbought just now.

If you believe that, or are not in for the long term, maybe time to top slice or take profits.

[stillbroke] 28/9/2005 11:23

NAV end yesterday 262.84p. Still trading at a discount.

[megsta] 28/9/2005 09:51

Reduction in Gearing

RNS Number:8612R
JPMorgan Fleming Japanese IT PLC
28 September 2005

JPMorgan Fleming Japanese Investment Trust plc announces that it has reduced its gearing level from 115% to 105% via the sale of Topix futures. The Managers remain confident about the long term outlook for the Japanese economy, but are of the opinion that the market is temporarily overbought.

[grippa] 27/9/2005 11:36

Nav storming ahead...now at 264.5!!!

[gabriel3] 19/9/2005 14:21

who buy super clear copper-100 kg cu63,cu65?

[vatattack] 18/9/2005 14:21

Japan govt to upgrade capital spending view in Sept economic report - Nikkei

TOKYO (AFX) - The Cabinet Office is finalizing plans with other government
offices to revise upward its capital spending assessment in the September
monthly economic report, the first upgrading in two years, the Nihon Keizai
Shimbun reported over the weekend.
The office plans to upgrade its evaluation of capital spending to
"increasing" from the prior month's "increasing moderately", the newspaper said.
Minister of Economy and Fiscal Policy Heizo Takenaka will submit the
September report Thursday to a cabinet meeting of economy-related ministers.
The Cabinet Office plans, however, to keep its overall economic assessment
unchanged from the August report, which stated that "the economy is recovering
at a moderate pace, with the corporate sector as well as the household sector
improving," the report said.
The basic assessments for production, employment and consumer spending are
expected to remain unchanged on the month as well, it said.
In the August monthly report, the government described the economy as
recovering from its recent soft patch. The September assessment will highlight
an ongoing recovery led by private-sector demand, the Nikkei said.

[markth] 18/9/2005 10:29

When Koizumi privatises the Post Office, some of that wall of consumer money currently languishing there might find its way into the stock market. That would help the supply:demand equation and push the price of this IT up.

[stillbroke] 18/9/2005 10:05

My bullish case for the stock market in Japan (Merryn on Money, September 4) had little to do with the country's election, but Koizumi's landslide win last week and his mandate for reform certainly can't hurt - nor can the healthy economic statistics pouring out of the country. I'm convinced a new bull market is under way in Japan.

[stillbroke] 18/9/2005 10:00

Tokyo vote boosts market's revival

Figures released on Monday revealed that the economy expanded at an annual rate of 3.3% in the spring, revised up from an earlier estimate of just 1.1% and more than twice the gain that had been expected by economists.

The growth rate looks even more impressive against Japan's long-term average of about 1%.

Analysts were particularly cheered by the fact that the growth was driven by consumer and company spending, rather than just exports.

Japan's previous recoveries were driven primarily by overseas sales, which faltered when global demand dried up.

Economists also hope that Japan will finally see an end to deflation, or falling prices, by the end of this year.

Several factors could move prices up again. Full-time employment is growing for the first time since 1997, pushing up wages. This could feed through into higher prices if it boosts consumer spending. And last year property prices in Tokyo rose for the first time in 13 years.

[stillbroke] 18/9/2005 09:54

Japanese pin their faith on reforming zeal of Koizumi

THE after-work sake and champagne were flowing in Tokyo on Friday night as brokers and analysts celebrated their belief that shares in Japan are set for a substantial, sustained rally after the landslide election victory of prime minister Junichiro Koizumi.

[grippa] 17/9/2005 14:29

Nav now at £2.58 ...the only way is up from here!

[stillbroke] 17/9/2005 10:30

Election victory points to new Japan

[megsta] 16/9/2005 09:36

% Largest holdings (as 31 August 2005)
3.6 SFCG
3.6 Mizuho Financial
3.5 Toyota Motor
3.4 Cannon
3.0 Aeon Mall
2.8 Nissan Motor
2.6 USS
2.6 Matsui Securities
2.6 Sumitomo
2.5 Nidec

% Sector weightings (as 30 June 2005)
16.20 Other Financing Business
11.20 Real Estate
10.50 Transport Equipment
7.50 Services
7.40 Electrical Appliances
6.30 Banks
5.80 Machinery
5.80 Others
5.30 Wholesale Trade
4.00 Retail Trade