Investing in Japan

No need to get excited over the fact that the Japanese economy has now contracted two consecutive quarters (no shooting the messenger). That was largely already factored into equities, thus explaining the severely depressed levels registered of late. However, as The Economist reported in its latest edition, the “Toyota shock” of a sharp decline in […]

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Prior to yesterday’s 6.5% drop in Tokyo (Nikkei 225 close at 8,899), the N225 had rallied 33% in the prior six sessions to recoup a good chunk of the 37% drop between Oct. 1 and the 26-year low reached Oct. 27 at 7,162. Yesterday I stated the obvious in that Tokyo would sell-off as reality […]

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UPDATE: (Osaka open). December Nikkei 225 futures (Singapore) point to another move to the downside, although the decline is a more modest one (-130 points) than we’ve seen recently. N225 futures in Chicago shed 440 points to settle at 7,110, also the low of the day. Osaka futures settled at 7,160 yesterday, but in extended […]

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December Nikkei 225 futures trading in Singapore opened at 7,480, off a little more than 2%. That’s right about where the Osaka futures settled on Friday at 7,470. In Chicago, the close was a bit more optimistic at 7,550. At any rate, at these levels, if the benchmark N225 trades in-line, we’ll be at a […]

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December Nikkei 225 futures dropped 790 points in Chicago today to settle at 8,215. Minutes ago in Singapore, N225 futures gapped down 465 points to 8,200 and futures in Osaka fell 440 points to 8,220. Intra-day in Chicago, the low was 8,080. That leaves just 450 points, another sell-off, from hitting the once unthinkable low […]

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N225 December futures settled at their daily high, +1,000 at 9,000, in Chicago. In Singapore, futures opened Tuesday +1,275 at 9,330. No question Tokyo equities and futures trading in Osaka will mirror global gains Monday after Tokyo was closed for a national holiday. Problem here and elsewhere is not just the threat of […]

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Down more than 11% in early trading, the Nikkei shed 9.6% to plunge to the 8,000-level (closing at 8,276). N225 futures barely managed to preserve that level, dropping 1,180 points to 8,020.
Yet again, the JP financial press, citing a Nikko/Citi strategist, points to (preemptive) selling by hedgies. Combined de-leveraging and de-risking by HFs is […]

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The Nikkei had a rough go last week indeed, losing 3.6% and the 14,000-level (13,973.73); TOPIX fell to 1,371.57 after a short-lived recovery of 1,400 two weeks ago. No worries though, as Chicago Nikkei 225 futures not only held 14k, but added 140 points to the upside (14,220) setting the stage for a gap up […]

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Thought the Dow’s 3.5% rally and the Nasdaq and S&P 500’s 4.2% gains were big? Take a look at the 5.5% surge in N225 futures in Chicago. The last quote was at 12,460. A late $/¥ quote shows a recovery of the 100-level. A quick review of Investing in Japan’s listing of Japanese ADRs shows […]

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