Time To Hunt Some Bargains In Tokyo (FXY, TM, HIT)
Look at Japan and you will find mostly bombed-out exporter charts where there were supply disruptions, but some stocks look ready to make new post-quake highs.
Hitachi (NYSE:HIT) resumed production on a major plant today, and take a look at how the stock performed:
Nissan (NSANY) is reopening all plants soon and while Toyota (NYSE:TM) looks really beaten up, it could be interesting if any of the big banks makes an upside call.
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And on the yen, Morgan Stanley just came out with a call for 98 yen to the dollar by the end of the year — a much, much weaker Japanese currency than what we have seen recently.
This would give Japanese equities, and the exporters in particular, the kind of turbo charge they have been missing, provided of course that the global backdrop remains relatively buoyant.
Remember, Japan is the middleman to all of Asia: components, parts, steel, autos.
If the yen slips, good chance to short the CurrencyShares Japanese Yen ETF (NYSE:FXY).
Written By Tim Seymour From Emerging Money
Emerging Money provides insightful and timely information about the increasingly important world of Emerging Market investments. CNBC Emerging Markets Contributor Tim Seymour leads the team of Emerging Money to bring you cutting edge global news and analysis.
About Tim Seymour: Tim is a founder of Emerging Money. He is a founder and Managing Partner at Seygem Asset Management, and The Emerging Markets Contributor to CNBC. Seygem Asset Management focuses on investing throughout the global emerging markets asset class. With a view that emerging and developing economies will continue to outpace the economic growth and advancement of developed economies, Seymour has devoted a career to investing in the dominant markets of tomorrow, today. Seymour’s career has included significant experience in both alternative asset management (hedge funds) and capital markets, having launched two hedge funds, and built the largest Russian broker dealer in the USA. Seymour started his career at UBS, focusing on international credit (cash, swaps, forex) in a specialized hedge fund group (New York). Seymour completed the firm’s training program after graduating with an MBA in international finance from Fordham University. Seymour received his undergraduate degree at Georgetown University.
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