Jpmorgan Japanese Invest... Investors - JFJ

Jpmorgan Japanese Invest... Investors - JFJ

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Jpmorgan Japanese Investment Trust Plc JFJ London Ordinary Share GB0001740025 ORD 25P
  Price Change Price Change % Stock Price Last Trade
-18.00 -2.71% 646.00 16:35:06
Open Price Low Price High Price Close Price Previous Close
662.00 647.00 662.00 646.00 664.00
more quote information »
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Top Investor Posts

nod: A big fall here, don't know why. I haven't got my cash yet from JP Morgan. It's funny when you sell funds and you live overseas they always decide the fund managers don't have the appropriate identification verification information on their records. Yet, we've provided the identification required to the previous managers of the fund and sometimes the managers before them.I've lost track of the fund managers on this fund. It was Jardine Fleming, hence the JFJ ticker.Why do investor identification and verification records never get passed on when funds are sold? It's very time-consuming to get joint-holder documents verified by a JP or whoever.
nod: JFJ appears to be going against the trend in Japan, which is considerably up over the past 4 months. Many big investors think the up trend is going to continue helped by the USA."A lot of things are lining up for Japanese equities," said Bryan Goh, the Singapore-based chief investment officer of Bordier & Cie, which oversees about $9 billion. "It looks like the economy is stabilizing and the weak currency is certainly helping. There's some momentum behind this bull run."The market's latest tailwind comes from America, where Trump's shock election victory has fueled speculation that increased government spending will lead to higher U.S. interest rates and a stronger dollar. That's good news for Japan because it translates into a weaker yen and an improved earnings outlook for exporters like Toyota Motor Corp. The Japanese currency has dropped 6 percent versus the greenback over the past month, more than any other major Asian currency."This is a very big regime change in U.S. economic policy that could be a game-changer for the yen and the Japanese stock market," said Naoki Murakami, a Tokyo-based market strategist at AllianceBernstein, which oversees about $483 billion worldwide.Trump-induced equity gains over the past two weeks have built on optimism over the BOJ's decision to refrain from pushing interest rates further into negative territory, a policy that had battered bank shares earlier this year. A better-than-estimated 2.2 percent Japanese economic growth figure for the third quarter also added to the bullish sentiment, despite evidence that private consumption remains tepid."Market behavior is looking good and government policy is supportive," said Rob Weatherston, a manager of Japanese equities at Old Mutual Global Investors in Hong Kong.
nod: Asian stocks rose Friday, with Japan's benchmark index extending gains to a new 15-year high on prospects for better earnings. Many markets closed for the Lunar New Year holiday.The Nikkei Stock Average rose 0.4% to 18332.30, the highest level since May 2000. In recent months, Japanese stocks have risen steadily as investors have taken a renewed interest in companies that have shifted their focus back to growth and efficiency.
nod: Japan appears to have benefitted from the turmoil in Europe and if course from continued low oil prices. It's funny how economists now suggest that lower oil prices may contribute to deflation around the globe. We will have to wait and see on that but Japanese investors seem more confident for a change.
nod: Where are the customers' yachts? Written in 1940 is an awesome read. It's about JPM and all BIG brokers who under perform for investors and over perform for themselves. I'm only with JPM because they acquired the previous fund manager and since then this fund has gone nowhere and has under performed its peers even with JPM swapping its sector. One of my worst ever funds in 35 years of investing.
haveagoodday: From Times Online May 28, 2008 Japan: the land of the rising return? David Budworth Given the turbulence in the markets over recent months you might not have noticed that the Japanese stock market has been doing rather well. Since hitting a low of 11,788 in mid-March the Nikkei 225 index of Japan's leading companies has leapt 16 per cent, making it one of the top performing markets worldwide. Two months is, of course, a very short time frame on which to base investment decisions. But it is worth taking note, as the burst in performance has coincided with a new found optimism in Japan amongst fund managers. Many think that the Japanese market, which has been in the doldrums for most of the past decade, could finally be turning a corner. Paul Chesson, head of Japanese equities at Invesco Perpetual, a fund manager, says: "We still believe that the stock market as a whole will be tough going over the next year. However, there are now more shares in the market where I believe we can make double-digit returns over the next year than we have been able to find for some time." Other fund managers, like Stephen Harker at SG Asset Management, say that Japanese equities are the most attractively valued for 25 years. More than half of Japanese companies trade at less than book value - the accounting value of their assets - according to Goldman Sachs, an investment bank. Dividend yields are also rising, with Japanese equities now yielding more than bonds. According to Hargreaves Lansdown, a financial adviser, this has only happened twice before - in 1998 and 2003. Both times, this was followed by a rally in the market. After over a decade of falling prices the Japanese economy also appears to have turned its back on deflation, which has made it difficult for companies to raise prices and discouraged the Japanese consumer from spending money. Japan's nationwide consumer price index (CPI) rose 1.2 percent in March from a year earlier, the biggest rise since March 1998. Although this was largely down to rising energy prices, economists say that there are encouraging signs that inflation is beginning to appear in the broader economy. Seasoned investors will, quite rightly, say that they have heard such talk before. There have been many false dawns in the land of the rising sun that have come to nothing. But the underlying factors, this time around, make Japan looks a more compelling investment than it has for many years. The next 12 months look likely to to remain tough as the credit crisis works itself out. But if you are prepared to hold for the long-term now looks like a good time to invest.
tiraider: Nikkei sinks to three-month low By David Turner in Tokyo Published: July 27 2007 03:57 | Last updated: July 27 2007 10:28 Japan's Nikkei share index plunged to a three-month low on Friday as investors brushed aside generally strong earnings results, concentrating instead on the sharp slide overnight in US and European markets. The Nikkei 225 plummeted 2.4 per cent to 17,283.81 while the broader Topix sank 2.2 per cent to 1,699.71. The overnight slide in global markets included a 3.2 per cent plunge in London's FTSE index, the most severe fall in four years. Many of the sharpest falls were in the export sector, because of fears about the global economy. The behaviour of the Japanese stock market was exemplified by Canon, which draws most of its earnings from abroad. Despite a 19 per cent rise in net profit to a record high for the six months to June, the company's shares plunged 5.5 per cent to Y6,510. Toyota, the world's biggest carmaker and one of Japan's largest exporters, was down 1.6 per cent at Y7,260. Shipping, one of the most export-focused sectors of all, dived 2.6 per cent. Mitsui OSK Lines, one of Japan's biggest shippers, dropped 2.7 per cent to Y1,782. But domestic stocks also fell on fears the ruling Liberal Democratic-led coalition may lose control of the Upper House after Sunday's elections, resulting in political turmoil. The banking sector dropped 2.2 per cent, with Mitsubishi UFJ, the world's largest bank by assets, sinking 3 per cent to Y1,290,000. Despite the day's losses, Koji Yamamoto, president of State Street Global Advisors Japan, said foreign institutional investors remained interested in Japan because of "long-term factors". These included improvement in corporate governance, government reforms, and the continuing economic recovery. Shoji Hirakawa, equity strategist at UBS in Tokyo, blamed worries about the US subprime market, as well as election-related concerns, for the fall in Japanese stocks. But he said if the coalition led by Liberal Democratic party lost its majority only narrowly, share prices were set to rise on expectations the LDP would shelve plans within the next few years to raise consumption tax. This would boost household spending, increasing corporate earnings. Weak consumption has helped keep Japan mired in deflation, albeit very mild. Official figures on Friday showed that core consumer prices fell 0.1 per cent on the year in July, as expected. Financial markets think the Bank of Japan is likely to raise interest rates next month regardless of Japan's failure to shake off deflation. But if the ruling coalition lost by a wide margin, share prices would fall on fears "there might be a little bit of a problem passing bills". Many analysts think the coalition will lose its majority, though they disagree on the likely extent of the rout.
watwungyi: haveagoodday, good to see you here. i am not a veteran investor as you said i appear to claim to be. btw, i almost finished reading the shipley's japanese money tree, a good book from ft which i would recommend anyone interested in investing in japan. the author pointed out interesting sectors to look value in particulars. real estate and technology with strong protection by means of intellectual property rights. Some key events to look out. Japanese investors've been sending their money abraod because of their perception that valued can't be found in the country. so there's a large capital outflow which weakens yen and result in unattractive returns from domestic investment. but that is going to change as japanese economy shows consistent signs of sustained recovery and jap investors will take profit from overseas investment and put their money in domestic investment and that should be good for japanese investment. and next is interest rates rise by BoJ which should be a good thing, first many companies are valued on the assumption of deflation, which means market cap for the companies are less than their NAV. But interest rate hike means their worth should be revalued and boost share price, this should reinforce capital inflow and visciious circle began. so two things we need to look out, capital inflow and interest rate( last week it was 8 1) so there is no certainty in August decision. But it will come soon. two invst trust in particular: jfj and melchoir jap trust, some may opt for fidelity jap values. anyone any interesting investment here. but for me for the next ten years, vietnam(+southeast asia) and japan are good places to invest in Asia pacific, and aus and nz to a lesser extent due to seemingly undiminshing commodity bull market. by the way, i have been making heavy losses betting against dow jones and ftse though i haven't closed my short positions. thursday rally was more of hedge funds desperately trying to cover their shor hedges and that reinforced the gains which follow, unfortunately for me, the following day. I am not panic but apparently nervous. next week there will be lots of inflation data to come out and i don't think we'll see any positve for those expecting rate cut because friday import prices data show they are on the increase. and wsj reported china's disinflation pressure is waning. but of course it's market interpretation which counts. and i am increasingly nervous. fingers crossed and good luck all
knowing: Tokyo shares seen retesting 7-year high as first-half gains may extend TOKYO (Thomson Financial) - The Tokyo stock market is expected to extend its first-half gains into the second half, propelling the benchmark Nikkei 225 index toward 20,000, its highest level in seven years and more than 10 percent above the close on Friday. In a continuation of trends seen in the first half, the industrialization of the so-called BRIC countries -- Brazil, Russia, India and China -- and a firm economic outlook in other parts of the world are expected to encourage investors to buy shares of exporters, while concerns about the strength of domestic demand remain, analysts said. In the first half, Hitachi Zosen, Japan Steel Works and Sumitomo Metal Mining enjoyed the biggest percentage gains among Nikkei components as investors eyed growing demand in the BRIC countries and greater Asia for industrial materials and cargo transportation. Those gains helped power the blue-chip market gauge to a 5.3 pct gain to 18,138.36 on Friday from 17,225.83 on December 29, its last trading day in 2006. Not all stocks took part in the rally. Shinsei Bank, Casio Computer and Sky Perfect JSAT suffered the steepest percentage declines, hit by earnings worries. The Nikkei touched a seven-year closing high of 18,240.30 on June 21, after overcoming the global stock market turmoil triggered by a sharp sell-off in the Chinese market in late February. The steep decline on the Shanghai stock exchange caused the Nikkei to shed its year-to-date gains and sent it to a March 5 closing low of 16,642.25, a full 8.6 pct below the February 26 close of 18,215.35. For the rest of the year, the Nikkei is likely to advance further into territory not seen since mid-2000, as the benefits of a weaker yen are felt, boosting investor confidence in the export-oriented Japanese economy, analysts said. "The market will probably trend higher to a little above or below 20,000 on the Nikkei by the year-end. This is based strictly on the condition that the yen stays near current levels and thereby leads to the upgrading of earnings projections by major exporters," said Hiroyuki Fukunaga, strategist at Rakuten Securities. The dollar has climbed to just below 124 yen in recent sessions, up almost eight yen from its March level with half of the four-month gain coming after Japanese companies had hammered out earnings projections that were based on an outlook for a firmer yen. By sector, producers of steel and other industrial materials, as well as shipping companies and shipbuilders, are expected to remain investor favorites in light of strong demand from BRIC countries and broader Asia. "Steel makers and marine transporters are best placed to benefit from surging demand in such emerging countries as China. Nippon Steel and Mitsui OSK Lines, the leaders of these sectors, are a must to have in portfolios," said one trader at a European asset management firm. Nippon Steel has forecast that its revenues would expand 11 pct to 4.76 trln yen in the current fiscal year. Mitsui OSK has forecast an 8 pct rise in revenues to 1.70 trln yen in the year to March 2008. Shares of carmakers, such as Toyota Motor, may also gain in popularity as the yen weakens, raising hopes that these companies that are heavily dependent on offshore demand may beat the earnings projections made in April and May, analysts said. A weak yen buoys the yen-converted value of earnings received in foreign currencies. Shares of high tech companies, on the other hand, may not enjoy as much investor interest despite their deep ties to demand abroad, as they are faced with stiffer competition from players in not only the US and Europe but also Asia, analysts said. Bridgestone, the world's largest tire maker, on Wednesday lifted its earnings guidance for the year to December, attributing its improved outlook to the weaker-than-expected yen so far this year, as well as surprisingly firm sales in the US. Analysts said Bridgestone's announcement is the first sign of the impact the weak yen is having and bodes well for all the carmakers, the major constituents of the Nikkei index. "There is a possibility that the yen's recent weakness may lift earnings sharply" at carmakers, while their business fundamentals have also improved, thanks partly to the increasing weight of China and other emerging markets, said Shinya Naruse, a car-sector analyst at Nomura Securities. Rising gasoline prices have made fuel-efficient cars popular, and this should also help Japanese carmakers escape much of the impact of softer demand in the US where top Japanese carmakers generate roughly 60 pct of their operating profits, he said. The Nomura analyst on Wednesday lifted his investment recommendation on the auto sector to bullish from neutral, and said car shares are broadly undervalued at current levels. But although most analysts are bullish on the stock market, they caution that political uncertainty may pressure the Nikkei towards 17,500 or slightly lower before the upper house election on July 29. "The election, along with a probable rate hike by the Bank of Japan, is the most significant event when looking at the market's prospects through the year-end," said the trader at the European asset manager. Investors are wary that the vote may sap Prime Minister Shinzo Abe's ruling Liberal Democratic Party and drag on the government's efforts to reform the Japanese economy. Reforms have been a key market driver in recent years. The Nikkei began its advance in October 2005 when the Parliament passed a bill to privatize the postal services, a plan proposed by Abe's predecessor, the reformist prime minister Junichiro Koizumi. At that time, the Nikkei was trading around 13,000. "If a loss by the LDP in the vote removes foreign investors' hopes in Japan's chances to reform, they may unload the holdings built in positive response to the passing of the postal services reform bill. That would be a major pressure on the market," Rakuten's Fukunaga said. The lack of a steady recovery in consumer demand may continue to be a source of concerns for investors as it has been for the Bank of Japan which aims to "normalize" its super low interest rates. Even so, investors expect the central bank to raise its overnight call rate target by 25 basis points to 0.75 pct after the election, most likely in August. "Share prices have factored in the possibility of one rate hike this year, while uncertainties remain on chances of a second move," said Tsuyoshi Segawa, strategist at Shinko Securities. Investors will monitor closely the effects of one or two rate hikes on the economy and on the yen, analysts said. The best timing to launch into buying will be around September if a possible August rate hike fails to spark the active unwinding of yen carry trades, which would cause the yen to strengthen again. "An upgrading of earnings projections by carmakers and other exporters in or around September will trigger the buying spree which I expect to send the Nikkei rising towards its highs for the year," Rakuten's Fukunaga said. (1 usd = 123.21 yen)
isa23: Deutsche Bank's Musha Calls Japanese Stocks `A Major Bargain' By Patrick Rial May 23 (Bloomberg) -- Investors should snap up Japanese shares because they are inexpensive by four different measures, according to Ryoji Musha, chief investment officer at the Japanese brokerage unit of Deutsche Bank AG. ``Right now the Japanese market is a major bargain,'' Musha said, speaking at a conference in Tokyo hosted by Deutsche Bank. ``In terms of stock prices, interest rates, the weak yen and the cost of goods, it's cheap.'' Last week, shares in Japan reached the lowest level in six months relative to the price of U.S. stocks, according to a report released yesterday by JPMorgan Securities Japan Co. Long term interest rates have been on a gradual decline for years, even as central banks such as the U.S. Federal Reserve conducted a two-year drive to tighten credit, Musha said, recalling former Fed chairman Alan Greenspan has called the lack of a market response to monetary policy a ``conundrum.'' While the gap between intended monetary policy effects and actual interest rates would normally be a warning sign for investors, this time it isn't, Musha, 57, said. Rates should remain low as companies continue to earn more money than they spend on investments, relieving pressure on borrowing costs, he said. ``Looking at the excessive savings of corporations worldwide, it seems declining interest rates is a logical trend and one that is sustainable,'' Musha said. The yen has weakened 2.2 percent against the dollar so far this year and has fallen to a record low against the euro 17 times in 2007. A weaker yen makes Japanese shares cheaper for foreign investors and increases the value of companies' dollar- denominated sales when converted back into local currency. Costs Under Control Japanese companies are also benefiting from a lack of inflation that is helping to keep input prices down. Japan's core consumer prices, which exclude fresh food, didn't increase on a year-over-year basis during the first three months of this year. The April figure, which will be released on May 25, is expected to show a 0.1 percent drop, according to economists surveyed by Bloomberg. Musha began covering Japanese stocks as an analyst in Daiwa Securities Co.'s research division in Tokyo in 1973. He was a global strategist at Daiwa's New York branch from 1988 to 1993. He joined the Tokyo unit of Deutsche Bank in January 1997 and was ranked the top Japanese equity strategist by Institutional Investor in 2002. To contact the reporter for
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