Japan Tag

41% of Japanese Stocks are In a Bear Market

29 Apr, by Knowledge Leaders Team in Uncategorized

It’s no surprise that Japanese shares have been hammered lately. Japan is the worst performing major market so far in 2014 and the Nikkei is down about 10% from its recent high in USD terms. That, however, is not the entire story. When we categorize...

Unprecedented QE is Not Lifting Stocks in Japan

23 Apr, by Knowledge Leaders Team in Uncategorized

Despite introducing by far the largest QE program of any central bank, the BOJ’s unlimited quantitative and qualitative easing program is failing to have the desired effect on stocks. Indeed, the popular price-weighted Nikkei index is about 11% from it’s recent high last December....

Japanese Data Releases Show More of the Same

31 Mar, by Knowledge Leaders Team in Uncategorized

Today saw the release of Japanese industrial production, the Markit Manufacturing PMI, and housing starts. Unfortunately this latest package of data does little to alter the ongoing trend of a deteriorating Japanese economy. Indeed, industrial production saw the largest one month drop since the earthquake...

Japanese Real Household Income Falls for 5th Straight Month

28 Mar, by Knowledge Leaders Team in Uncategorized

In the latest piece of evidence that Abenomics is having the effect of suppressing real income and expenditure, new data out today reveals that real income (red line, right axis) is down 1.3% YoY and real personal consumption expenditure (blue line, left axis) is down...

Japan the Worst Performing Major Market Last Week

17 Mar, by Knowledge Leaders Team in Uncategorized

Performance was negative across all but two of the twenty four countries comprising the MSCI World Index, but Japan stood out as being particularly weak as it finished down 4% on the week. Below we show the performance by country for all twenty four countries....

Digging Deeper Into Japanese Outperformance

25 Feb, by Knowledge Leaders Team in Uncategorized

We’ve noted on several occasions over the last week the recent outperformance of Japanese shares, so we thought it fitting to dig even deeper into the topic. In the below two tables we show the 1-week sector performance (equal weighted) and the top performing companies...

Abenomics Not All It’s Cracked Up to Be

05 Feb, by Knowledge Leaders Team in Uncategorized

We were reminded again today of one of the unfortunate realities of Abenomics, namely that devaluing your currency when 51% of your imports are inelastic to prices causes real wages to fall....

Japanese Consumer Confidence Drops to 13-Month Low

17 Jan, by Knowledge Leaders Team in Uncategorized

Japanese consumer confidence today dropped to the lowest reading since December 2012, signaling perhaps (despite the nearly 100% price gain in the Nikkei over the last two years) not all is fixed in the land of the rising sun....

Japan Data Roundup

14 Jan, by Knowledge Leaders Team in Uncategorized

We saw some important Japanese statistics released today that deserved a bit of comment. The most important release of the day was Japan’s balance of payments position, which showed a third consecutive month of a current account deficit on a seasonally adjusted basis....

Nintendo Offers Hope that Japan’s Recovery May be For Real

10 Jan, by Knowledge Leaders Team in Uncategorized

After years of underperforming the Japanese and global stock markets and seeing four consecutive years of substantial sales declines, Japanese bellwether Nintendo seems to be righting the ship. Investors seem to be catching on as it is the best performing stock in Japan over the...