SHARE THIS Nikko Asset Management's New House View on Global Equities Moves to Neutral "An overweight stance on global equities that was largely in place since September 2011 has been reduced to neutral by Nikko Asset Management’s Global Investment...
SHARE THIS A recent trip to China offered first-hand observations of the country’s technological advancement, changing consumer patterns and new social norms as the world’s second largest economy moves on from the pandemic.
SHARE THIS Nikko Asset Management Lifts View on Global Equities to Moderately Overweight "Healthy economic growth prospects in the United States, which is expected to drive corporate earnings, has led Nikko Asset Management’s Global Investment...
SHARE THIS For August we reduced our overweight on growth assets amid volatility in the markets and maintained a neutral position on defensives. We expect volatility to be quelled, given that the markets have factored in the Fed cutting interest rates...
SHARE THIS Although we believe that the prospects for the economy remain mostly unchanged, the outlook is softer at the margins, perhaps reflecting the tightening of financial conditions seen during the recent months. Over the past month, however,...
SHARE THIS We expect fundamentals and technical backdrop for Asian credit to remain supportive in 2024. However, valuation is a challenge with current Asian high-grade spreads near historical lows. The myriad cyclical and structural factors driving the...
SHARE THIS Defying seemingly broad sentiment that a slowdown is coming, the US economy continues to chug along, and bond yields are continuing to wake up to the monetary reality that long-term rates need to be repriced accordingly. The adjustment has...
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...
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...
SHARE THIS Despite very bumpy economic data—particularly on inflation—rates have compressed, implying most of the “surprises” have already been priced in. This is positive for growth assets that respond better to yield curve stability than the sudden...
SHARE THIS Markets have become choppy, particularly toward month-end, and we expect more of the same given the nearly unrelenting strong run in risk assets since late March 2020 that gained fresh momentum early in November following the US elections.
SHARE THIS The global economic recovery is continuing, although at a marginally slower pace; this is to be expected considering the impact of the second COVID-19 wave on the US sunbelt.
SHARE THIS Overweight Stance on Global Equities Intact: Nikko Asset Management’s New House View Shows
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...
SHARE THIS Speculation over the actions of the US administration had a major impact on asset markets throughout the January-March quarter, with volatility dominating towards the end. We trimmed our overweight score in growth assets during the quarter,...
SHARE THIS We are generally neutral to slightly cautious in our view of countries whose bonds are relatively more sensitive to UST movements. Within Asia currencies, we prefer the Chinese renminbi and Malaysian ringgit over the Indian rupee and the...
SHARE THIS In a move that reflected their disapproval of Japan's ruling coalition, voters deprived it of a lower house majority. While this outcome may not have a direct impact on the market, it is important to monitor the impact of political...
SHARE THIS As it often is when Japan’s Liberal Democratic Party wins an election by an impressive amount, the initial equity market reaction was positive. But the ramifications of the ruling party’s upper house election victory will in the intermediate...
SHARE THIS The start of the Fed’s rate cut cycle was a boost to risk sentiment, with resilient US data and declining inflation placing the market in a goldilocks situation. Likewise, the start of a global rate cutting cycle sets up a positive...
SHARE THIS For August we maintained our overweight growth position and a neutral position on defensives. Several factors continue to support our optimism towards growth assets, including the first rate cut from the Fed, earnings surprises remaining...
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