Hello Kitty owner overtakes Toyota in stock turnover
[TOKYO] Hello Kitty owner Sanrio surpassed Japan's biggest company Toyota Motor in stock turnover last month on the firm's inclusion to the MSCI index and its perceived resilience to tariff risks.
A total of 2.1 trillion yen (S$18.7 billion) worth of Sanrio shares were traded in May on the Tokyo Stock Exchange, more than double from last month and exceeding 1.7 trillion yen for Toyota, according to data released by the bourse on Friday (Jun 6). Toyota's turnover fell from 2.2 trillion yen the previous month.
'Content-related stocks that are resistant to economic cycles offer a sense of security' in an environment where companies face earnings uncertainties on US tariffs, said Fumio Matsumoto, chief strategist at Okasan Securities. In addition, 'Sanrio's inclusion in the MSCI index made it easier for global investors to buy the company.'
Shares of Sanrio, which was added to MSCI's Japan index last month, jumped 12 per cent in May. Jefferies Japan this week boosted its price target on expectation the company will see increasing brand equity and licensing revenues. Toyota, more exposed to uncertainties over US tariffs and rising competition, meanwhile underperformed, with a 1.5 per cent gain. BLOOMBERG
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
International Business Times
12 hours ago
- International Business Times
Asian Markets Edge Higher as Trade Talks Show Progress, Inflation Data in Focus
Asian markets edged up cautiously on Wednesday as investors were kept in check by some muted moves on the trade front. The latest meetings in London suggested a de-escalation of sorts as a consolation prize after a turbulent few months. Japan's Nikkei index added 0.4 % to the gains it made earlier in the month. Australian stocks added 0.4%, and MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.2% in early trade. It was a cautious but optimistic response from investors in the region to negotiators' assertions that they had settled on a "framework on trade" that they would bring back to their governments. The U.S. Commerce Secretary, Howard Lutnick, also said the deal could entail removing restrictions on rare earth elements and magnets, but there were no clear details on that. Markets welcomed the news of continuing talks, but traders were skeptical that an agreement, if there was one, would be reached quickly or cover all the contentious issues involved. Among currencies, the dollar was down 0.1 % against the yen at 144.73. The euro inched up to $1.1433, and the U.S. dollar index was unchanged at 98.971. The action was sluggish and represented a "go nowhere" attitude in the market, particularly as it faced the upcoming U.S. inflation data. Bond investors were still alert, pushing the U.S. 10-year Treasury yield steady at 4.467%. The market was also eyeing a $39 billion sale of 10-year notes later in the day, a sale that would test international demand as worries grow about the U.S. fiscal stance. Investors have grown skittish about expanding deficits and erratic trade policy, and they have demanded a higher return on even long-term holdings. Wall Street, meanwhile, finished Tuesday on a high note as major indices rallied on hopes that the trade talks might lead to a positive outcome. Yet European futures were down a little. Futures on EUROSTOXX 50, FTSE, and DAX all fell 0.2%, and S&P 500 and Nasdaq futures were down 0.1%. Attention will now shift to the U.S. Consumer Price Index (CPI), due later in the day. Economists were expecting a 0.2% rise in headline CPI and a 0.3% uptick in core inflation for May. It's disappointing if inflation only proves decisively that the Fed is unlikely to be ready to cut rates anytime soon. Markets are now pricing in small odds for bill rates at the June and July meetings, but some 60% chance for a cut in September. In commodities, gold gained 0.3 % to $3,333 an ounce as investors flocked to safety ahead of inflation data. And oil prices pulled back from their most recent highs, with Brent crude losing 31 cents to $66.56 a barrel and U.S. crude easing 28 cents to $64.71.
CNA
2 days ago
- CNA
Crypto funds' assets hit record high as investors hedge and diversify
Assets held in crypto funds hit a record high in May as easing trade tensions lifted risk appetite and some investors used the digital currencies to hedge against market volatility and diversify from their U.S. holdings. Morningstar data on 294 crypto funds shows they attracted $7.05 billion in net inflows last month, the highest since December, bringing total assets under management to a record $167 billion. Nicolas Lin, CEO of fintech firm Aether Holdings, said bitcoin "is starting to come into its own again", not just as a high-volatility asset, but as something that more investors are using to hedge their exposure. Bitcoin has gained more than 15 per cent over the past three months, outperforming a 3.6 per cent rise in the MSCI World Index and a 13.3 per cent gain for gold. Nic Puckri, analyst and founder of Coin Bureau, said one of the main drivers of bitcoin's rise is a loss of faith in the U.S. investment story. "The greenback is projected to keep plummeting, bond yields are rising, there's uncertainty about the equity markets. But bitcoin seems to be holding strong." Bitcoin has been buoyed by institutional inflows over the past year following the approval of spot bitcoin and ether ETFs in the United States. In contrast to the crypto funds, Lipper data showed a net $5.9 billion flowed out of global equity funds in May, while gold funds posted their first outflow in 15 months, of $678 million, pointing to a broader shift in portfolio diversification. "I think flows will stay strong, but probably more steady than the rush we saw after the ETFs launched," said Aether Holdings' Lin. "That initial wave was a bit of a release valve. What's happening now is more important, it's the start of crypto becoming a permanent fixture in diversified portfolios." According to Coinshares data, bitcoin funds attracted a net $5.5 billion and ether funds a net $890 million in May.
Straits Times
3 days ago
- Straits Times
Rallying-Ogier edges Tanak to win in Sardinia, Evans stays top
FILE PHOTO: FIA World Rally Championship - Rally Sweden - Stage 7 of Second Round - Torsby, Sweden - February 15, 2020. Sebastien Ogier of France (Toyota Yaris WRC) speaks to the media. TT News Agency/Micke Fransson/via REUTERS/File Photo Sebastien Ogier clinched a record fifth Rally Italy victory on Sunday, fending off Hyundai's Ott Tanak by 7.9 seconds after a tense final stage in Sardinia, while Toyota teammate Elfyn Evans stayed top of the championship standings. Ogier, with co-driver Vincent Landais, completed the sixth round of the season in three hours 34 minutes and 24.5 seconds to secure the Frenchman's third win in four starts in a part-time campaign. The eight-times world champion was beaten by Tanak on the island last year by 0.2 seconds after a final-stage puncture but this time Ogier stayed composed and took the win despite a late wobble. Ogier had built a 17.1-second cushion heading into the Wolf Power Stage, but the 41-year-old overshot a tight, rutted corner in the final kilometres. This forced him to stop and reverse after his car refused to turn, cutting his advantage by more than half in a tense finale. "In the ruts, I just couldn't turn the car," Ogier explained. "There was no speed at all, so I didn't try to force it and hit it - I preferred to stop and reverse. But yeah, not ideal. Still, it was enough to win." The victory follows hot on the heels of his Rally Portugal triumph and sent Ogier second in the championship with 114 points to Evans' 133. Toyota, who have won every rally so far this year, also tightened their grip on the manufacturers' race with 312 points to Hyundai's 243. "There are many places I've won several times," said Ogier. "It's just a type of rally I like, where precise driving is needed, but also smoothness for tyre management. Thanks to the team, great turnaround after Portugal in terms of speed and set-up, so good job." Tanak pushed hard in the final stage but fell short, while Kalle Rovanpera, clawing his way up from fifth during Saturday's stages, completed a double podium for Toyota in third, 50.5 seconds behind Ogier. The Finn dropped to third overall, one point behind Ogier, with Tanak fourth on 108. Evans and Takamoto Katsuta rounded out a strong showing for Toyota, taking fourth and fifth respectively. Hyundai's reigning champion Thierry Neuville, fifth in the championship on 83 points, took four points from the Power Stage and one from the 'Super Sunday' format after returning following Friday's retirement. The next round is in Greece on June 26-29. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
