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Harnessing Change - Monthly Insights: Asian Equity-September 2023
SHARE THIS With oil markets closing in on US dollar (USD) 100 per barrel and US bond yields reaching 16-year highs, one could be excused for being struck by a bout of conservatism. With valuation dispersions again back to all-time highs, we contend...
https://www.nikkoam.co.nz/articles/2023/asian-equity-monthly-sep-2023 -
Balancing Act-Monthly insights: Multi-Asset Team-September 2023
SHARE THIS The markets are pricing “higher for longer” with US Treasury 10-year yields pressing above their October 2022 highs, tempering enthusiasm across global equities into neutral sentiment territory. As inflation pressures continue to ease...
https://www.nikkoam.co.nz/articles/2023/multi-asset-sep-2023 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-August 2023
SHARE THIS Indian and Indonesian bonds are expected to fare relatively better than their regional peers, supported by their attractive carry, positive macro backdrop and policy credibility. As for currencies, expectations that US interest rates may...
https://www.nikkoam.co.nz/articles/2023/asian-fixed-income-monthly-aug-23 -
Harnessing Change - Monthly Insights: Asian Equity-August 2023
SHARE THIS While regional markets understandably retained its focus on the economic weakness in China, we believe that the fear gripping the markets belies the region’s long-term sustainable return and positive change opportunities. The challenges that...
https://www.nikkoam.co.nz/articles/2023/asian-equity-monthly-aug-2023 -
Navigating Japan Equities: Monthly Insights from Tokyo (September 2023)
SHARE THIS This month we take a closer look at Japan’s 2Q GDP surge and analyse the factors that could offset a potential slowdown in exports; we also assess why the markets are less perturbed by a weak yen compared to a year ago and discuss the...
https://www.nikkoam.co.nz/articles/2023/japan-equity-monthly-september-2023 -
Balancing Act-Monthly insights: Multi-Asset Team-August 2023
SHARE THIS The economic wheels continue to turn forward, surprising many given that the Federal Reserve lifted the overnight target rate to 5.5%, a level not seen since 2001. It is also above the top rate of 5.25% seen back in 2006–2007, before rate...
https://www.nikkoam.co.nz/articles/2023/multi-asset-aug-2023 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-July 2023
SHARE THIS We retain our preference for Indonesian government bonds and for currencies, we believe that greater support for the renminbi from Chinese policymakers should remove a near-term headwind for currencies in the region. We take a more cautious...
https://www.nikkoam.co.nz/articles/2023/asian-fixed-income-monthly-jul-23 -
Harnessing Change - Monthly Insights: Asian Equity-July 2023
SHARE THIS With the Chinese economy on the brink of deflation, the timing of the Chinese government’s recent pro-growth directives was a very welcome signal. If carried out, they can lead to structural changes that can potentially lead to an...
https://www.nikkoam.co.nz/articles/2023/asian-equity-monthly-jul-2023 -
Navigating Japan Equities: Monthly Insights from Tokyo (August 2023)
SHARE THIS Although the Bank of Japan tweaked its policy in July, we discuss why the move may have been a compromise given expectations the central bank will wait for more concrete signs of inflation before taking a more significant step; we also...
https://www.nikkoam.co.nz/articles/2023/japan-equity-monthly-august-2023 -
Balancing Act-Monthly insights: Multi-Asset Team-July 2023
SHARE THIS While market positioning has shifted towards a more constructive outlook, the macroeconomic mood has not. Rather, persistent upside pressures in equity markets have forced investors back into the market so they do not fall too far behind...
https://www.nikkoam.co.nz/articles/2023/multi-asset-jul-2023 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-June 2023
SHARE THIS We remain constructive on relatively higher-yielding government bonds amid a supportive macro backdrop. Our favourable view of higher-yielders is further grounded on the view that lower-yielding government bonds will be more vulnerable to...
https://www.nikkoam.co.nz/articles/2023/asian-fixed-income-monthly-jun-23 -
Harvesting Growth, Harnessing Change - Monthly Insights: Asian Equity-June 2023
SHARE THIS With inflationary issues subsiding across most of Asia, many regional central banks are now holding interest rates steady, if not cutting rates in the case of China. The US, meanwhile, is still warning of further rate hikes despite some...
https://www.nikkoam.co.nz/articles/2023/asian-equity-monthly-jun-2023 -
Navigating Japan Equities: Monthly Insights from Tokyo (July 2023)
SHARE THIS As a virtuous inflation cycle helps boost stocks, this month we focus on how labour shortages could nudge Japan away from a deflationary mindset; we also assess the BOJ under a new governor, who has said that monetary policy surprises could...
https://www.nikkoam.co.nz/articles/2023/japan-equity-monthly-july-2023 -
Balancing Act-Monthly insights: Multi-Asset Team-June 2023
SHARE THIS The divergence in growth outlook reflected in equities continues to widen, as secular growth in the form of tech and artificial intelligence (AI) developments appears to have the upper hand in determining the overall market direction. This...
https://www.nikkoam.co.nz/articles/2023/multi-asset-june-2023 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-May 2023
SHARE THIS We remain constructive on relatively higher-yielding Philippine, Indian and Indonesian government bonds, on the back of the relatively supportive macro backdrop for these countries. As for currencies, we expect the Thai baht and Indonesian...
https://www.nikkoam.co.nz/articles/2023/asian-fixed-income-monthly-may-23 -
Harvesting Growth, Harnessing Change - Monthly Insights: Asian Equity-May 2023
SHARE THIS As the developed world continues to struggle with inflation and a lack of growth, Asia stands out as the bright spot, with inflation well in check and monetary cycles peaking ahead of the West. Growth in Asia is also expected to outperform...
https://www.nikkoam.co.nz/articles/2023/asian-equity-monhtly-may-2023 -
Navigating Japan Equities: Monthly Insights from Tokyo (June 2023)
SHARE THIS This month we discuss the factors behind the Nikkei’s rise to a 33-year high; we also assess Japan’s opportunity to re-invent itself as a technology hub with leading global chipmakers bringing investments and manufacturing to its shores.
https://www.nikkoam.co.nz/articles/2023/japan-equity-monthly-june-2023 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-April 2023
SHARE THIS China’s re-opening and supportive policy tone may continue to provide a critical counterweight to global macro weakness. Macro and corporate credit fundamentals across Asia ex-China are also expected to stay robust.
https://www.nikkoam.co.nz/articles/2023/asian-fixed-income-monthly-april-23 -
Balancing Act-Monthly insights: Multi-Asset Team-May 2023
SHARE THIS Currently, we believe that valuations look stretched (mainly in the US) and volatility too low to justify that a new bull market is at hand, given the plethora of risks. We remain constructive on China's recovering demand and new sources of...
https://www.nikkoam.co.nz/articles/2023/multi-asset-may-2023 -
Navigating Japan Equities: Monthly Insights from Tokyo (May 2023)
SHARE THIS This month we discuss how Warren Buffett’s focus on Japan has put the country’s market back on investor radars and how it could be a chance for companies to disseminate meaningful information; we also analyse the TSE’s surprise “name and...
https://www.nikkoam.co.nz/articles/2023/japan-equity-monthly-may-2023