Norihiro Fujito - Mitsubishi UFJ Morgan Stanley Securities


Last quote by Norihiro Fujito

There was no special news that triggered this afternoon's volatile moves. It was massive position adjustment ahead of tomorrow's
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Nov 09 2017
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 Norihiro Fujito is associated, including U.S., Nikkei, and market. Most recently, Norihiro Fujito has been quoted saying: “U.S. stocks are supported by strong fundamentals, which are also lifting foreign investors' risk appetite. Foreign investors who were underweight on Japanese stocks in the summer are raising their investment stances to neutral and even overweight for a few reasons.” in the article Nikkei jumps to near 26-year high as foreigners buy on strong earnings hopes.
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Norihiro Fujito quotes

Sep 05 2017

It's not clear whether diplomacy can solve this problem given it has failed for the last 25 years. But the U.S. doesn't seem to be ready for a military action soon either. So we are likely to see continued stalemate, which will keep a tab on share

Aug 29 2017 - Japan

Optimistic investors may think the market drop has created a bargain hunting opportunity as some stocks' valuations are so

Aug 29 2017 - Japan

The market was spooked after the dollar dipped below 108.50

Aug 28 2017

Investors' focus has turned from Jackson Hole to the U.S. storm over the weekend. We don't know many details at this time, but we can see the footage of the damage and we know that it is a very serious situation in

Aug 16 2017 - NAFTA

It's not that risks on North Korea completely faded, but for now, after a sharp rise on the previous day, investors decided to wait for more catalysts before investing

Aug 03 2017 - Japan

The Japanese market rose ahead of U.S. markets after Apple's earnings so investors were quick to lock in gains. Although Apple surged overnight, other U.S. tech stocks were weak, and that's why investors quickly decided that the overall market would not continue to benefit from 'the Apple effect' and Japanese companies like Tokyo Electron fell

Jul 31 2017

Judging from past patterns, when speculators have a big short position in the yen, they are likely to have a long position in Japanese shares as well. Given that foreign investors have sold Japanese shares in August in recent years, the market could face some correction next

Jul 14 2017

Fast Retailing's performance pushed the Nikkei down and limited its gains, but overall market sentiment was

Jul 07 2017

The BOJ showed its intent on rising bond yields, which triggered the yen to weaken that was positive for the stock

Jul 04 2017 - Trump Presidency

If it's an intercontinental basaltic missile, it will likely reach America's west coast, but Trump would not wait until it reaches his land, so the market started to worry what Trump's next move would

Jun 22 2017

The Nikkei is heavy, as some investors continue to take profits on its recent rise and the yen strengthens. Some individual shares are rising on specific news, but overall, there are no big buying incentive

Jun 20 2017 - Federal Reserve

Even though the Federal Reserve is about to shrink its balance sheet, possibly as soon as in September, U.S. bond yields are kept at low levels, which are very comfortable for stocks. Trade volume is light and whether the market continues to rise depends on whether large cap tech shares continue to

Jun 16 2017

The U.S. data overnight triggered

Jun 09 2017 - Brexit

If that's the case, there will be big uncertainty over Brexit talks thus the market will likely become risk

Jun 06 2017 - Japan

The dollar decisively broke under the 110-yen level, which is making investors concerned. Still, market participants expect the Bank of Japan to come in and buy ETFs if the selloff accelerates, as it does to put a floor under the

Jun 02 2017 - Japan

And when foreign investors don't buy futures, the Nikkei won't rise

Jun 02 2017 - Trump Presidency

Japanese stocks would have risen to this level earlier if we did not see global risks and the rising yen. The market is worried that the allegations against Trump over his interference with a federal investigation would delay his efforts on tax cuts and economic

May 26 2017

Lately, the Nikkei has been even more sensitive to foreign exchange market moves than it is to U.S. stocks. And every time it moves higher, some investors who bought at lower levels earlier this year rush to take

May 08 2017 - Dutch elections 2017

Political risk in Europe has been considered as a major market theme this year. But in the Netherlands (anti-EU party leader Geert) Wilders lost in March. The French election is now out of the way. And in Germany the ruling Christian Democrats are recovering. The political risks in Europe have

May 08 2017 - French election 2017

Political risks in Europe were one of the biggest risks of the year, but with Macron winning French election, such risks have receded so they are seen buying

May 02 2017

Given that reading for March was really strong, you can say that it has become 'strong' from '

May 02 2017

For those large shares to rally to record highs at the same time, you really need a big amount of money flowing in. It is fair to assume the money that was once staying in the bond markets are now going to hi-tech shares on back of their strong

Apr 24 2017 - French election 2017

When the morning passed with nothing from North Korea, the sense of relief grew, and so the market extended its early gains. Stocks were already higher after U.S. shares rallied on relief after the French

Apr 13 2017

Trump's big creating volatility in the

Apr 06 2017

We were hit by a bucket of cold water. Signs that the Fed could pare its balance sheet is shocking enough, but the mood was exacerbated as the Fed touched upon stock valuations, which is very

Mar 24 2017 - Japan

The day started out with dollar and stock weakness, but after news that there would be a vote later today after all, tail risk was seen as

Mar 16 2017

The Fed was calm, sticking to what it said in its statement in December, but the market went too far expecting a more hawkish

Mar 10 2017

The dollar trading above the 115 yen-mark is lifting investors' risk appetites. Expectations for constant U.S. interest rate hikes have triggered a turnaround in Japanese stocks. The Nikkei being above its settlement price is a sign that investors are likely to chase the market

Mar 02 2017

The perceived expectations for a rate hike in March became even stronger when the market heard Brainard saying 'soon'. When the U.S. economy is strong, foreign investors' risk stance on investment in overseas shares

Feb 24 2017

Investors are cherry-picking stocks of companies which will likely outperform in the next fiscal year. It's not like they are tilted towards defensive stocks or cyclical stocks... Even in cyclical stocks there are divided views and investors are cautious against increasing exposure to the auto sector

Feb 20 2017 - Japan

Although there was no tough talk on trade at the meeting, we are likely to see a comprehensive economic talk between Japan and the United States in April, when U.S. Vice President Mike Pence is expected to visit

Feb 09 2017

Trade and defense will be in focus. We need to see if anything is said that has an effect on currencies, or on specific

Jan 24 2017 - Protectionism

The Japanese market started on a weak note but clearly some investors are trading on

Jan 16 2017 - Japan

But on the other hand, he hasn't even started his job formally yet. And there are not many examples where the share prices peak out before the inauguration of a U.S.

Jan 16 2017 - Japan

Some people are taking profits as they look at his protectionist, dark side of his

Jan 11 2017

Investors are cautiously focused on Trump's potentially market-moving speech. If he points his finger at a specific Japanese company again, Japanese stocks may get hit so investors are staying on the sidelines

Dec 29 2016 - Toshiba

Right now, even if banks are assisting, it's like they are throwing their money down the

Dec 29 2016

In a holiday-thinned market, there are even fewer buyers today especially after we saw a sharp drop in the U.S. market. Nvidia is like a shining star which was attracting buyers lately, so its sharp drop sent shock across the sector, and Japanese chip testing machine makers which have been rising lately became a target of

Dec 05 2016

The yen's rebound last weekend had already put stocks on the defensive, and Italy's referendum provided participants to take profits on a market that rallied last

Dec 05 2016

The referendum result will have repercussions beyond Italy. But for now we have to see how the European and North American markets react to the vote outcome to get a clearer

Dec 01 2016 - OPEC

We have to see how far the yen falls against the dollar before we can guess how far the Nikkei can rise. It's a very emotionally-driven market right now, chasing overseas factors, with everyone trying to gauge how strong the momentum

Nov 25 2016 - Japan

If Japan gives spending a further boost in line with Trump's expected expansion, fiscal deterioration would be more of an issue in an economy with a debt-to-GDP ratio of 247

Nov 21 2016 - OPEC

Next week, we have events that would make investors more sober, such as OPEC meeting and Italian referendum. By then this Trump-inspired market may come to an end for

Nov 11 2016 - Japan

I'm sure they (investors) will wake up to the reality that Trump has a protectionist view on trade policy, and it won't be good for

Nov 11 2016

Investors are partying around as Trump brought the punchbowl to the

Nov 09 2016

Most market participants have priced in expectations that Clinton wins the election. However, early votes will likely sway the market and will cause volatility

Nov 04 2016

Investors took risks in October. But they want to square their positions for now, and they may even short depending on upcoming developments in the U.S.

Nov 04 2016

Even if opinion polls show that Clinton is maintaining a lead, anything can happen at the last minute, something the Brexit outcome taught

Oct 26 2016

Foreign hedge funds, whose risk stances rose on the back of these reasons, may start to unwind their positions, so we need to watch carefully oil price and dollar-yen

Oct 12 2016

The markets had relied on expectations of monetary stimulus for a long time but that is changing with bond yields rising around the world. You have rising interest rates and falling EPS. That's obviously bad for

Sep 29 2016 - OPEC

The OPEC move was a surprise, and left some hedge funds scurrying to cover their short

Sep 29 2016 - Japan

On any move above 16,700, there are institutional investors ready to take profits, and on the downside, there is the perception that Bank of Japan buying will come in on moves below 16,500 and support the

Sep 28 2016

By looking at the current dollar-yen levels, companies will likely have no choice but to lower their dollar-yen assumptions at their mid-year earnings

Sep 20 2016

Exporters are bought although the yen is not particularly weak, so it's natural to assume that pension funds started buying after the Nikkei was seen as cheap below the 16,

Sep 07 2016 - Japan

Investors think that the Japanese market won't likely get positive catalysts from monetary policy in the U.S. or

Sep 07 2016

The Nikkei would have fallen 200-300 points without hopes for the central bank's ETF

Aug 24 2016

A level of more than 70 billion yen in buying can be as big as a launch of a mutual fund. It's supporting the market, but the Nikkei could be trading 1,000-1,500 points lower than the current level when the currency market sees the 100-yen-per-dollar

Aug 24 2016

But when the market does not fall when it's supposed to fall, the upside is also likely

Aug 12 2016 - Toshiba

Looking ahead, expectations of BOJ ETF buying will support the

Aug 03 2016

Disappointment is still evident after the market priced in high hopes for government stimulus and monetary easing. Investors are still adjusting the bullish bets they made after the

Jul 25 2016

There are expectations for stimulus, and these are continuing to lift the market. Kuroda's BBC interview was recorded last month, before

Jul 13 2016 - Nintendo

It's natural to think that there was another factor beyond recovering global risk sentiment lifting the dollar which had been stagnant for a

May 23 2016

The market was convinced hundred percent that a tax hike will be

Apr 22 2016 - Federal Reserve

Essentially, global shares and commodities have been rallying since U.S. Federal Reserve Chair Janet Yellen had indicated a dovish stance in March. But you would need more improvement in economic fundamentals for the rally to go further. The S&P 500 is quite overvalued, trading at 17.8 times the forecast profits. Disappointing earnings from hi-tech companies will surely cap the

Mar 04 2016

We didn't believe the 'world is going to end' story, but the way the mood has changed in the last couple of weeks is just

Mar 04 2016

Globally, markets are rolling back the extreme risk-off trading they did in January and February. Part of the reason is that the Fed seems to be easing its insistence on raising

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