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On the Ground in Asia-Monthly Insights: Asian Fixed Income-November 2022
SHARE THIS We are more positive on duration overall, on the assessment that we are likely past peak hawkishness from the Federal Reserve and other developed market central banks. We favour Singapore and South Korean government bonds, given their...
https://www.nikkoam.co.nz/articles/2022/asian-fixed-income-monthly-november-22 -
Balancing Act-Monthly insights: Multi-Asset Team-December 2022
SHARE THIS While we do not expect the US Federal Reserve to pivot any time soon towards easing policy, the firm break in dollar momentum perhaps reflects a shift in the relative growth story which had favoured the US towards one focused on the rest of...
https://www.nikkoam.co.nz/articles/2022/multi-asset-december-2022 -
Harvesting Growth, Harnessing Change - Monthly Insights: Asian Equity-November 2022
SHARE THIS Asian stocks rebounded strongly in November after Federal Reserve Fed Chair Jerome Powell pointed to slower pace of monetary policy tightening and lifted market sentiment. All Asian markets ended in positive territory, with China in the lead...
https://www.nikkoam.co.nz/articles/2022/asian-equity-monhtly-november-2022 -
Navigating Japan Equities: Monthly Insights from Tokyo (December 2022)
SHARE THIS This month we discuss the prospects of Japanese equities remaining well-supported into 2023 thanks to robust exports and inbound demand. We also explain why the markets are looking beyond a dip in Japan’s 3Q GDP, focusing instead on the...
https://www.nikkoam.co.nz/articles/2022/japan-equity-monthly-december-2022 -
Balancing Act-Monthly insights: Multi-Asset Team-November 2022
SHARE THIS This month, Fed Chair Powell seemed hellbent on quashing any last hope of a pivot or at least slowing the pace of rate hikes sometime soon. But this crushing blow to hope helped sow the seeds of an eyewatering rally when one inflation print...
https://www.nikkoam.co.nz/articles/2022/multi-asset-november-2022 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-October 2022
SHARE THIS We are inclined towards Singapore and South Korean government bonds, given their relatively higher sensitivities to stabilising US Treasury yields. In currencies, we see the Singapore dollar continuing to outperform its regional peers.
https://www.nikkoam.co.nz/articles/2022/asian-fixed-income-monthly-october-22 -
Harvesting Growth, Harnessing Change - Monthly Insights: Asian Equity-October 2022
SHARE THIS The ASEAN region fared better on the whole in October thanks to gains by the Philippines and Malaysia; Hong Kong and Taiwan stocks were volatile while the China market continued sliding.
https://www.nikkoam.co.nz/articles/2022/asian-equity-monhtly-october-2022 -
Navigating Japan Equities: Monthly Insights from Tokyo (November 2022)
SHARE THIS We discuss Japan’s recent currency market interventions from an equity market perspective; we also share our thoughts on steadily rising inflation after a surge in the September core CPI.
https://www.nikkoam.co.nz/articles/2022/japan-equity-monthly-november-2022 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-September 2022
SHARE THIS Going forward, despite some expected moderation amidst the slowdown in global growth, we believe that growth and corporate credit fundamentals will remain sufficiently robust to prevent a meaningful widening of credit spreads. However, some...
https://www.nikkoam.co.nz/articles/2022/asian-fixed-income-monthly-september-22 -
Harvesting Growth, Harnessing Change - Monthly Insights: Asian Equity-September 2022
SHARE THIS Rising interest rates and inflation woes continued to weigh on regional and global markets. US consumer prices registered above expectations with the August consumer price index (CPI) jumping 8.3% year-on-year (YoY). The tight labour market...
https://www.nikkoam.co.nz/articles/2022/asian-equity-monhtly-september-2022 -
Navigating Japan Equities: Monthly Insights from Tokyo (October 2022)
SHARE THIS This month we analyse what immediate impact the full reopening of Japan could have on the economy and markets; we also review the factors that may make Prime Minister Kishida’s “asset-income doubling plan” more effective in the long term.
https://www.nikkoam.co.nz/articles/2022/japan-equity-monthly-october-2022 -
Balancing Act-Monthly insights: Multi-Asset Team-September 2022
SHARE THIS The world is fast entering the adjustment phase as deglobalisation is accelerating, requiring new solutions and investment to clear new imbalances from energy supply to labour and eventually normalise inflation.
https://www.nikkoam.co.nz/articles/2022/multi-asset-september-2022 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-August 2022
SHARE THIS Inflationary pressures continued to remain elevated in July, as the headline CPI numbers in South Korea, Singapore, Indonesia and the Philippines increased, while those of Thailand and India moderated. During the month, the central banks of...
https://www.nikkoam.co.nz/articles/2022/asian-fixed-income-monthly-august-22 -
Harvesting Growth, Harnessing Change - Monthly Insights: Asian Equity-August 2022
SHARE THIS The regional index of the MSCI AC Asia ex Japan in August was flat at 0.0% in US dollar terms, recovering after falling into negative territory earlier. The North Asian region was weighed down by foreign currency effects, trailing behind its...
https://www.nikkoam.co.nz/articles/2022/asian-equity-monhtly-august-2022 -
Navigating Japan Equities: Monthly Insights from Tokyo (September 2022)
SHARE THIS This month we discuss the factors behind Japan’s high level of share buybacks; we also look at the economic implications of COVID in the wake of a particularly large infection wave.
https://www.nikkoam.co.nz/articles/2022/japan-equity-monthly-september-2022 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-July 2022
SHARE THIS We are taking a more constructive view in duration overall, as we believe that the markets have largely priced in hawkish Fed expectations. Among the low-yielding countries, we prefer Singapore and Hong Kong, while we like Malaysia and India...
https://www.nikkoam.co.nz/articles/2022/asian-fixed-income-monthly-july-22 -
Harvesting Growth, Harnessing Change - Monthly Insights: Asian Equity-July 2022
SHARE THIS Higher commodity prices impacted returns in Asia, while a slip in prices of crude oil and metals benefitted many Asian nations. We expect the future trajectory of inflation to dictate the path of interest rates, which in turn is seen...
https://www.nikkoam.co.nz/articles/2022/asian-equity-monhtly-july-2022 -
Navigating Japan Equities: Monthly Insights from Tokyo (August 2022)
SHARE THIS We take a look at the short and long term prospects of Abenomics without Abe, and we also discuss the recent trend of an increasing number of Japanese companies passing on higher costs to consumers and whether this phenomenon can continue.
https://www.nikkoam.co.nz/articles/2022/japan-equity-monthly-august-2022 -
Balancing Act-Monthly insights: Multi-Asset Team-July 2022
SHARE THIS The East and West appear to be headed in different directions. The East may benefit from China’s easing and supportive growth characteristics. Meanwhile, the West is mired in slowing growth, excessive levels of inflation and central banks...
https://www.nikkoam.co.nz/articles/2022/multi-asset-july-2022 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-June 2022
SHARE THIS Inflationary pressures accelerated in May across the region, due to higher transport and food prices. We maintain our preference for Malaysian bonds, as we believe that inflation will be better contained in Malaysia compared to other...
https://www.nikkoam.co.nz/articles/2022/asian-fixed-income-monthly-june-22