Masahiro Ichikawa - Sumitomo Mitsui Asset Management

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Last quote by Masahiro Ichikawa

The equity market is breathing a sigh of relief for the moment. The worst case scenario of Le Pen heading in to the final round of voting with (far-leftist Jean-Luc) Melenchon has been avoided. That said, other geopolitical concerns are likely to limit a further rise by equities, such as tensions over North Korea which marks the 85th anniversary of its army's foundation this week.feedback
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Apr 24 2017 North Korea
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Masahiro Ichikawa is associated, including Nikkei and U.S.. Most recently, Masahiro Ichikawa has been quoted saying: “The equity market is breathing a sigh of relief for the moment. The worst case scenario of Le Pen heading in to the final round of voting with (far-leftist Jean-Luc) Melenchon has been avoided. That said, other geopolitical concerns are likely to limit a further rise by equities, such as tensions over North Korea which marks the 85th anniversary of its army's foundation this week.” in the article Japan's Nikkei hits near 3-week high on French vote relief, Sony climbs.
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Masahiro Ichikawa quotes

There are underling expectations that Trump's tax cuts and infrastructure spending will boost the U.S. economy, which should support markets. On the other hand, if he takes a hard line stance on China in line with his campaign promises, then China would probably take counter-measures, raising concerns about tensions between the U.S. and China.feedback

Selling was limited ahead of Trump's speech with the market first wanting to see what he has to offer. There are still hopes that Trump would provide support by hinting at stimulus measures.feedback

A wait-and-see mood is prevailing ahead of the Fed's decision. The Nikkei is also above 19,000 and there is a sense of accomplishment in the market. The biggest focal point is how the dollar reacts on the Fed meeting, which is one of the last big events of the year. We are likely to see action in the markets peter out after this.feedback

Oil prices have fallen considerably on worries about the deal. That would pressure energy shares, and could hit the entire stock markets. Given their rally in recent days, it's no surprise to see some adjustment.feedback

On the other hand, steady selling pressure around the 17,000 threshold is preventing a further advance and keeping the Nikkei in range.feedback

All three Wall Street indexes rebounded overnight and crude oil prices are rising, and these are supportive factors for the market.feedback

Yellen's remarks are likely to lift Japanese bond yields too, which should support financial shares. The Nikkei is likely to be supported by a weak yen as well on the whole.feedback

Potential sources of turbulence that can impact broader risk sentiment over the long weekend is developments in the euro zone and volatile sterling.feedback

The dollar pulled back slightly against the yen and this looks to have stalled the Nikkei's advance. As for the U.S. jobs report, the main points are if Wall Street can weather potentially upbeat data and how much the dollar can gain against the yen.feedback

A strong jobs report would take the yen down further and bode well for the equity market. The key is how U.S. shares react to a strong report. If they come out relatively unscathed, the Nikkei could test fresh highs.feedback

Low U.S. productivity growth could suggest the third quarter growth can't be fantastic. That in turn would mean the Fed will not need to raise rates.feedback

The Nikkei initially took cues from overnight gains by U.S. shares and a rise in crude oil prices. But the market eventually ran out of factors to sustain the rise, with participants not inclined to build positions ahead of a key event like the U.S. jobs data release.feedback

Upbeat U.S. stocks and the yen's weakening are continuing to push the Nikkei higher. The Bank of England may have gone against expectations by standing pat on monetary policy, but it did leave the door open for a rate cut in August and spared the markets from confusion.feedback

We need to be aware of risk aversion if geopolitical risks show signs of spreading, but it won't negatively impact the financial system if such risks are geographically contained.feedback

A while ago, everything looked so uncertain on Brexit. But now the UK looks set to have a new prime minister and negotiations may begin earlier. That is soothing investor sentiment.feedback

Various commodities are rising even though there is no clear sign of sudden improvement in demand in each market. Their rally seems to be driven by hopes of stimulus.feedback

The market's risk appetite seems to be coming back, or rather, its excessive pessimism is easing.feedback

Despite the denial from Russia, oil prices were strong, pointing to strong market sentiment. I suspect there is speculation that oil producers will eventually agree on an output freeze.feedback

Fears of Brexit have relegated the GBP to the bottom of the leader board.feedback

The U.S. economic data has been soft especially in the manufacturing sector so the key is how much the services sector is holding out.feedback

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