Koyal Group Market Watch: Asia 29-07-13
Koyal Group reports that markets were down slightly on Monday across Asia. Japanese stocks are down as the Yen rises and in Shanghai stocks were hurt by weakening industrial profits.
Tokyo (I-Newswire) October 11, 2013 - Japans Nikkei stock average fell more than 3% today is finishing at its lowest level since June 27th, while the Shanghai Composite also dipped 1.7%. Both indices have fallen for three consecutive sessions. We attribute the weakness of Japanese stocks to the recent strengthening of the yen hurting exports.
In Tokyo this week, a number of major Japanese corporations will be releasing quarterly earnings reports and updating their forecasts including; Softbank Corp., Honda Motor Co., Toyota Motor Corp., and Sony. We expect net income to boom as much as 75% for international firms, and 30% for nationals as the new economic reforms have caused the yen to deflate 20% over the last year. For this period the US dollar gained 25% against the yen while the Euro has risen more than 33% against the currency. Deflating the Yen makes Japanese companies more competitive in global markets. The US dollar´s recent slip against the yen is in our opinion the major cause of yesterday´s drop of the NIKKEI.
Other markets in the region posted similar results, Both South Koreas KOSPI and Hong Kongs Hang Seng fell half a point. While Australia´s S&P/ASX 200 posted a negotiable gain. The Chinese National Bureau of Statistics released a report stating that industrial profits had risen 6% in June as compared with the previous year, but have slowed when compared with the 15% rise in profits reported for May. Beijing has also requested the Chinese National Audit Office to conduct an immediate review of public debt. The slowing down of profits is in line with the boarder picture of the slowing momentum of the Chinese economy. In our opinion, if the numbers worsen it may prompt policy action by the government to reach the 7.5% growth target.
Based in Tokyo, Japan, Koyal Group is a boutique equity research house and has its foundations set in personal client advisor relationships, and despite being one of the largest equity research houses in Asia we are proud to say we maintain strong interpersonal links between our clients and their allocated advisors. This along with our approach to financial analysis has meant Koyal Group has grown year after year since 2003.
Our analysts specialise in equity research, but also offer fixed income analysis for users of other instruments. Within the equities division we specialise in Technology, Financial and Industrial/ Metals research.
Essentially we seek to identify within these sectors, distressed or undervalued securities, and once we have identified a security we feel may be suitable for investment we then conduct a thorough fact finding session and employ a multitude of quantitative and qualitative calculations in order to assess whether the security is viable for recommendation to our clients.
Our history stretches back over ten years to January 2003 when the company was established, since which we have grown two hundred fold in terms of staff and managed to keep the majority of our original client base, which we believe is testimony to us having provided a service that is second to none.
About Koyal Group
Based in Tokyo, Japan, Koyal Group is a boutique equity research house and has its foundations set i More..n personal client advisor relationships, and despite being one of the largest equity research houses in Asia we are proud to say we maintain strong interpersonal links between our clients and their allocated advisors. This along with our approach to financial analysis has meant Koyal Group has grown year after year since 2003.Less..
Arca Central Building 14F 1-2-1 Kinshi Sumida-ku Tokyo
Phone : +81 (3) 4578 2181
Published On:October 11, 2013
Print Release:Print Release
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