Jpmorgan Japanese Invest... Share Discussion Threads

[markth] 28/12/2005 08:40

Hector I predict that at some point in 2006 oil and mining stocks will fall. I'll bet you a glass of whisky on it ;0)

[knowing] 28/12/2005 00:51

00:17 Japan Nov commercial sales rise 3.9 pct
00:16 Japan Nov industrial output up 1.4 pct from Oct

[nod] 28/12/2005 00:47

JAPAN:
-Nov core CPI up 0.1 pct yr-on-yr; Tokyo Dec core CPI down 0.2 pct
-Nov unemployment rate rises to 4.6 pct from 4.5 pct in Oct
-Nov wage earner-headed household spending up 0.9 pct yr-on-yr
-Nov corporate services price index up 0.2 pct mth-on-mth
-Nov vehicle production rises 3.9 pct year-on-year; first rise in 2 mths
-Nov orders received by 50 largest contractors down 5.2 pct yr-on-yr
-Nov housing starts rise 12.6 pct year-on-year to 110,986 units
-Japan's population shrinks in 2005, first time since World War II
-Tokyo bourse says no decision yet on changing stock margin trading rules
-Tanigaki says conditions for monetary policy change not yet met
-West Japan Railway president, chairman to resign over April crash

[hectorp] 27/12/2005 20:30

'mining stocks hit the bufers' ? sell oil? would you through your bankbook in the fire?
Agree far East may have another good year but if so , so will mining.

[nephin] 27/12/2005 20:13

markth:

If you're looking at mining to keep take a look at KAZ & VED (just my choices you understand)

Nephin

PS: Also take a look at the recent chart of JPS (Last month)

Good Luck

[markth] 27/12/2005 19:40

Many folks, thinking they've missed the boat, are hesitating taking the plunge on Japan since it has risen so much since the summer.

Worth pointing out that even although the Nikkei just broke 16,000 it actually traded at 20,000 (albeit sideways) in the mid 90s for quite some time. If you look further back to the end of the 80s I think it was almost at 40,000. So (IMO) given the Nikkei is trading at exactly where it was after the Asian economic crisis in the late 90s, Japanese shares could easily put on at least another 25% next year.

I've held JFJ and BGS for about a year now. Together they make about 5% of my long term portfolio; I am thinking of doubling down but need to sell something else. Oil maybe, but I fancy mining stocks (I have BHP) might hit the buffers first.

[nephin] 27/12/2005 16:55

orvil & grippa

The Japan ITs have got to be the gravy train for next year. I have done well with Oil/petro shares this year but I think that the oil story is just starting to come off the top of the hill.

I will be going large with Japan next week and I also fancy the mid-miners (by that I mean the companies that are actually digging the stuff out of the ground and not the ones that are just talking about it)

And just for good measure I am also holding PMK and ITH as I think that both of these shares will really see the sunlight next year.

Let us hope that we all have a prosperous new year.

Good luck to you all.

Nephin

[grippa] 27/12/2005 16:40

NIKKEI crossed over 16,000...we should be in for a very good day tomorrow!!

[orvil] 21/12/2005 09:05

I have recently picked up 20,000 of these shares ranging from 266 onwards on CFDs- what a beautiful way to gain instant exposure to a resurgent Japanese market total outlay £5.5k approx.

[megsta] 21/12/2005 08:17

Asian shares close mostly stronger; Nikkei briefly tops 16,000

HONG KONG (AFX) - Share prices across the Asia-Pacific region finished
mostly higher, with Japan advancing sharply on optimism over the economy and a
pullback in the yen, dealers said.
Foreign investors led the buying spree, having placed net buy orders before
the market opened for the third straight day.
The Nikkei 225 Stock Average finished up 316.31 points or 2.0 pct at
15,957.57, its highest close since Oct 6, 2000 when it settled at 15,994.24. At
one stage, the blue-chip index hit an intraday peak of 16,010.17.

[knowing] 13/12/2005 15:58

Tanken report tomorrow.

[grippa] 13/12/2005 15:56

We are at quiet a discount to NAV £3.06 Share price should move up over £3 shortly.

[megsta] 07/12/2005 09:58

JPMorgan Fleming Japanese IT PLC
02 December 2005

30- November- 05
JPMorgan Investment Trust
Ten Largest Investments
in % of Total Assets.


Ten Largest Investments
JPMorgan Fleming Japanese Investment Trust
Aeon Mall 3.7
Canon 3.6
Toyota Motor 3.2
Nissan Motor 3.1
Urban 3.1
SFSG 3.0
Asset Managers 2.7
Sumitomo 2.6
NTT Docomo 2.5
Avex 2.5

[nod] 05/12/2005 07:27

TOKYO (AFX) - Share prices closed higher, with the benchmark Nikkei 225
again settling at its highest level since October 2000, as a strong capital
spending data and a weaker yen combined to further boost investor confidence in
the economy, dealers said.
The Nikkei 225 Stock Average ended up 129.71 points or 0.8 pct at 15,551.31,
off a high of 15,563.39. It was the index's richest closing level since Oct 10,
2000 when it finished at 15,827.72.
The broader TOPIX index of all First Section stocks was up 13.85 points or
0.9 pct at 1,597.57.

[nod] 02/12/2005 10:09

onwards and upwards

[megsta] 24/11/2005 10:00

22 November 2005
JP Morgan Fleming Japanese Investment Trust
Record Highs
Following years of pessimism, positive investor sentiment, particularly foreign, is starting to return to the Japanese stock market. The renewed investor optimism has been reflected in the JP Morgan Fleming Japanese Investment Trust (JFJ), which last week hit 291p for the first time in more than four years. By investing in large cap, domestically oriented service companies we believe JFJ provides tremendous leverage to an equity market rally.

GDP figures reveal the Japanese economy enjoyed an impressive first half annualised growth rate of 4.6 percent, the fastest for 15 years. Another broad measure making a welcome comeback is inflation, which is now forecast to return in 2006 after a debilitating bout of deflation. Other economic measures are equally encouraging. For instance improved business and consumer confidence is leading to greater capital investment and higher domestic demand. When combined with buoyant export markets, it becomes apparent that although risks remain, the recovery has relatively sound foundations.



Based on our view of improving investor sentiment towards Japan, we are encouraged by the Trust Manager's focus on domestically oriented companies. At 3.9 percent, SFCG, a specialist finance company, is JFJ's largest holding. We believe the company is well positioned to benefit from increased loan demand from small and medium-sized firms whose business activity is skewed towards the domestic economy.

The Trust's second largest holding, camera and office peripheral manufacturer, Canon (3.6 percent), should benefit from both increased levels of corporate and domestic consumption. We expect a rejuvenated Japanese consumer to profit the Trust's third largest holding in Aeon Mall (3.4 percent), which manages and develops shopping malls. And finally in the fourth and fifth positions, we are encouraged to find Toyota and Nissan. Despite benefiting from healthy export markets both automakers stand to gain from the release of pent-up domestic demand.

We are heartened by the changes Japan has undergone in the past fifteen years and the response of the economy and stock-market more recently. Following September's election results we look forward to additional changes from the political leadership that will embrace further reform aimed at boosting the economy and markets even more.

Please note this is an abridged version of the full article that appears in the Fat Prophets report.

[stromboli1] 16/11/2005 21:24

I am currently long fjv with IG on a march contract(from 94p)
I have been looking at the list above, i.e bgs,bgfd,ijd,jps,mcj,sjg and jfj.All are a premium to NAV except jps and jfj.I am contemplating taking long positions possibly on all of them. Are there others that anyone could kindly point me in the direction of. All seem to broadly mirror nikkei. chart comparison of all of the listed is very similar when overlayed.

this is not really my thing historically. Feel free to shoot me down!

[vatattack] 16/11/2005 07:33

Tokyo shares close firmer on weak yen; Nikkei hits fresh 4-yr high - UPDATE

(Adds share prices)

TOKYO (AFX) - Share prices closed firmer with the benchmark Nikkei index
settling at a new high in more than four years as investor sentiment stayed
upbeat helped by a weaker yen, dealers said.
The Nikkei 225 Stock Average ended the day up 79.10 points or 0.6 pct at
14,170.87, its best level for the session. This was the index's highest closing
level since May 21, 2001 when it closed at 14,176.83.
The broader-based TOPIX index of all First Section shares added 13.87 points
or 0.9 pct to 1,486.34, also its intraday best.
Winners outpaced losers 943 to 623, with 96 stocks unchanged.
Volume was 2.82 bln shares, up from 2.51 bln shares yesterday.
After opening lower on the back of Wall Street's retreat overnight, bargain
hunters eventually stepped in to push the market higher, dealers said.
"Shares got off to a weak start today but they managed to gain upward
momentum. This is because some domestic demand-related shares, such as steel
makers and banks regained strength, while blue-chip exporters got a lift from a
weaker yen," said Hiroichi Nishi, equity chief at Nikko Cordial Corp.
In Asian currency trading, the dollar hit a 27-month high of 119.33 yen,
compared to 118.80 in late Tokyo trade yesterday.
Automakers leapt on hopes that a stronger dollar will inflate their
dollar-denominated earnings. Nissan Motor jumped 41 yen or 3.5 pct to 1,216 and
Toyota added 150 yen or 2.8 pct to 5,500. Mitsubishi Motors surged 23 yen or 9.8
pct to 257.
Shipbuilders and select technology companies also benefited from the weaker
yen.
Mitsui Engineering and Shipbuilding was up 12 yen or 4.2 pct at 299 and
peer Mitsubishi Heavy gained 14 yen or 3.2 pct to 449, with Ishikawajima-Harima
Heavy Industries up 7 yen or 2.6 pct at 277.
High-tech firm TDK rose 190 yen or 2.1 pct to 9,390, while semiconductor
maker NEC Electronics advanced 80 yen or 2.2 pct to 3,790 and its rival Elpida
Memory edged up 70 yen or 2.2 pct to 3,310. Toshiba added 13 yen or 2.2 pct to
609.
Resona Holdings, the fifth-largest banking group, climbed 11,000 yen or 3.1
pct to 371,000, and Sumitomo Mitsui Financial was up 30,000 yen or 2.7 pct at
1,140,000. Industry leader Mizuho Financial rose 180,000 yen or 2.2 pct to
834,000.
Sumitomo Metal Industries, Japan's fourth-largest steel maker, rose 9 yen
or 2.2 pct to 427, with JFE Holdings up 80 yen or 2.1 pct at 3,940.
Leading securities broker Nomura Holdings increased 56 yen or 2.9 pct to
1,999.
Sanyo Electric jumped 17 yen or 6.1 pct to 297 following a newspaper report
that the consumer electronics company will sell part of its stake in financial
subsidiary Sanyo Electric Credit to Mitsui & Co as part of its restructuring
efforts.
Sanyo Electric Credit rose 60 yen or 2.7 pct to 2,240.
Sega Sammy Holdings closed up 140 yen or 3.7 pct at 3,950 after the
entertainment company raised its first-half net profit estimate to 24.9 bln yen
from 18 bln yen because of stronger-than-expected sales of its arcade game
machines.

[vatattack] 14/11/2005 16:25

The Daily Reckoning PRESENTS: The mainstream media loves
it...the City is convinced, too. But even so, it's hard
to ignore the world's second largest
economy...especially when it's climbing out of
deflation...


IS JAPAN BACK?
by Chris Mayer

When Rakuten, Japan's largest online shopping mall,
quietly acquired a piece of the Tokyo Broadcasting
System and announced its intention to merge TBS in
Rakuten, it created quite a stir in the Land of the
Rising Sun.

This sort of thing was not supposed to happen in Japan.
Instead, a kind of forced stability was the hallmark of
Japan's economy. It was supposed to be devoid of the
more freestyle elements of Anglo-American capitalism,
such as takeovers and mergers. But that era is over.

The Japanese stock market was once the greatest show on
earth. America, indeed the world, couldn't get enough of
Japan. Books extolled how Japan was primed to take over
the world. America, these pundits predicted, would soon
be a poor vassal in a new Japanese Empire. Come to think
of it, you hear arguments along the same lines made
today about China.

But after the peak in 1989, the curtain fell, and it's
been largely riding the skids since. The Nikkei Stock
Average fell to a low of 7,831 in April 2003, a drop of
80% from its high. That seems to have marked the bottom.
Since then, it's slowly crawled out of that hole. Today,
it sits at around 13,199 - near four-year highs and a
68% gain from the bottom, but well below the old peak of
38,915.

I first wrote a bullish piece on Japan in my US
newsletter, Capital & Crisis, in April 2004. Since then,
the Nikkei has rallied and Japan has been in the news
more often. A recent cover of The Economist read: 'The
Sun Also Rises'. Trading volume in Japan has surged,
reflecting an influx of money looking for a stake in
Japan's recovery - everybody from European pension funds
to flush Middle Eastern oil barons.

Normally, I wouldn't get excited about something so
hashed out in the mainstream media. But it's hard to
ignore the world's second largest economy. And we may
come to different conclusions for investment purposes.

Our question is this: Is Japan's revival real, or are
the seemingly bullish sentiments on Japan premature? To
offer a preview, I lean more toward the former. Let me
show you the collected evidence, which I believe offers
a compelling portrait of an economy on the mend.

The most important changes are those happening on the
ground - in individual companies, industries and the
banking system. Consolidation of Japanese industry is
only one part of the story. The excesses of the prior
boom have finally sweated off, like the soft middle of a
man newly taking up exercise. In its place, a leaner and
more competitive economy is emerging.

Once saddled with bad debt and deadbeat borrowers,
Japan's banks have cleaned up. Today, bad loans are half
of what they were in 2001. As a result, Japan's banking
system is ready to expand again. For the first time in
seven years, lending in Japan is up, a clear sign that
economic conditions are improving.

The real re-emergence is also evident in places like
Nagoya, the heart of industrial Japan. The old sunset
industries like steel, ceramics, autos, machinery and
chemicals are booming.

How does high-cost Japan compete with low-cost China?
Easy. It doesn't. Japan has moved up the food chain,
producing sophisticated high-end products - things like
hybrid car engines and robotic machinery for industrial
use. So far, South Korean and Chinese manufacturers have
been unable to mimic Japan's technological savvy. In
fact, some of Japan's biggest customers are other Asian
manufacturers.

Then, too, there is the incredible efficiency of
Japanese firms. Only in Japan could the construction of
a new airport finish two months early and $1 billion
under budget, as recently happened in Nagoya.

Bears on Japan fret about the aging population, as if
Japan could run out of workers. Taken to laughable
extremes, Japanese demographic forecasts point to an
ever-diminishing population such that there will only be
three people left by the year 3000. These kinds of
projections never come true, because demographics change
- albeit slowly. Already, Japan is finding workers from
overseas. Employers are increasingly hiring migrants
from places like China and Brazil.

Bears may also point to Japan's reliance on foreign oil
- it imports nearly all of its oil. This is true, but
the point misses the larger picture. Japan's reliance on
oil has fallen. As recently as 1991, oil supplied 57% of
Japan's energy. Today, it stands at 49% and is heading
lower. Japan has turned to alternatives such as nuclear
power, coal and natural gas. Even so, the Japanese are
much more efficient in their consumption of energy. On a
per capita basis, Japan's energy use is about half that
of the United States.

Another source of nagging doubt about Japan's stock
market outlook: The locals have not yet bought in.
Japanese households invest only 8.5% of their assets in
Japanese shares. Figuring the locals know better, some
use this as evidence that the West is being duped.

Ironically, though, locals can sometimes be the last
ones to recognise what's happening, especially after so
many years of disappointment. Look at South Korea. That
market has soared 24% this year, among the best in the
world. Yet only 6% of Koreans own shares in the Korean
market. Only recently has Korean ownership of Korean
shares started to increase.

As Christopher Wood, the chief Asian equity strategist
at investment bank CLSA, notes, "The longer the Japanese
domestics do not buy, the more inevitably they will buy.
And when they do, they will do it all at the same time."

In short, the lack of domestic buying is another
catalyst to take the market higher.


Regards,

Chris Mayer
for The Daily Reckoning

Editor's Note: Chris Mayer is a veteran of the banking
industry, specifically in the area of corporate lending.
A financial writer since 1998, Mr Mayer's essays have
appeared in a wide variety of publications, from the
Mises.org Daily Article series to here in The Daily
Reckoning. He is the editor of CrisisPoint Trader and
Capital and Crisis - formerly the US Fleet Street
Letter.

[tiraider] 08/11/2005 11:30

RNS Number:7892T
JPMorgan Fleming Japanese IT PLC
08 November 2005

IN ACCORDANCE WITH THE RECOMMENDATIONS OF THE AITC, WITH EFFECT FROM 1ST JULY
2004 JPMORGAN ASSET MANAGEMENT IS ANNOUNCING THE NET ASSET VALUES OF THE
INVESTMENT TRUSTS IT MANAGES BOTH WITH DEBT AT PAR VALUE, AND WITH DEBT AT FAIR
VALUE (IF APPLICABLE).

THE DEBT AT FAIR VALUE HAS BEEN CALCULATED AS FOLLOWS: DEBENTURES HAVE BEEN
REVALUED USING AN ESTIMATED FAIR MARKET SPREAD OVER THE RELEVANT GILT; INTEREST
RATE SWAPS AND FIXED RATE LOANS HAVE BEEN REVALUED USING MARK TO MARKET
ESTIMATES PROVIDED BY A COUNTERPARTY OR OTHER RELEVANT SOURCE.

THE NET ASSET VALUES IN PENCE AT PAR AS AT MARKET CLOSE ON 7TH NOVEMBER WERE AS
FOLLOWS:

JPMORGAN FLEMING JAPANESE INVESTMENT TRUST PLC: 288.45

This information is provided by RNS
The company news service from the London Stock Exchange
END NAVUUGGAGUPAGUR

[megsta] 04/11/2005 10:50

hi Knowing, I have posted a link to the JAPAN THREAD in the header of this discussion. good luck Megsta

[nod] 03/11/2005 18:59

Thanks Knowing. Onwards and Upwards.

[knowing] 02/11/2005 21:49

Gents please view the JAP thread for an overview of the Japanese market/economy.

[nod] 01/11/2005 20:51

I'm very happy to be holding quite a lot of these - for the long term.
Much further to go imo.