Actions of the Asian companiesTame the Asian dragon
Actions of the Asian companies
Certainly, thanks the Russian actions - they do not allow us to stick in monotony of life, but sometimes from this eternal anxiety - whether are live? - Becomes toshno. It would be desirable to be switched to something less hlopotnoe and stabler. Eventually, light a wedge on the Russian actions has not converged - it is possible to be consoled and on the party, in Asia for example. That to us prevents to take shares Sony as a variant and easy to observe of their growth from our Russian it is far. Though that`s it with Sony to get excited, probably, and does not follow.
For the business Russian who is not possessing excessively chubby purse or the bank account, the markets of the Asian countries combining growing stability with the low prices and possibilities of fast reception of profit, in our opinion, can represent especial interest.
the Asian stock markets, captivating the originality and perspectivity, the western investors of different calibres (even the London tabloids daily publish exchange reports of Tokyo and Hong Kong, and more solid newspapers take away a lot of place to the most detailed exchange tables of the Hong Kong or Japanese actions) have not failed to use already. And, having begun digression on east stock exchanges, you quickly will understand that formally any differences from the American stock market (see Money # 3) here is not present. But them rather the early age leaves the mark: The Asian stock exchanges are less predicted - here, perhaps, more similarities with Russian share the market, but thus game on them is not so dangerous, rather than in Russia.
from all Asian stock exchanges Tokyo it is considered one of the most predicted and, hence, convenient for long-term investments. Players of the Tokyo stock market have made the choice in favour of the most conservative factors (important plus in favour of Tokyo) - a dollar exchange rate and movement nju - jorkskogo and the London exchange indexes (the sequence is extremely important). Leading operators of a securities market of Japan are institutional investors - public pension and investment funds. It as the Tokyo brokers speak, the stabilising factor. The matter is that institutional investors act at a stock exchange as the collective broker, and at serious rate fluctuations official bodies of control over exchange activity quite often address to them with the request to take steps on stabilisation of a situation and almost always find support though this fact and is hotly denied both governmental, and share by the parties. Stability of the market also involves foreign investors who began to play recently especially important role the market.
bear the season (to go a bull it is unprofitable, and actions become cheaper), reigning nowadays at the Tokyo stock exchange, should not frighten you. Here and now it is more preferable to place means for long term. buy and put aside - one of the oldest laws of stock market says. For the Tokyo market of 1994 it can be considered as the main thing. Duly behind fall always there comes growth, and popularity Japanese Blue counters (the most liquid actions) in the world definitely does by their more liquid, rather than, for example, blue counters Hong Kong. Besides, the important factor is also that unlike many other regional stock exchanges on Tokyo is from what to choose. Practically in all groups of actions, whether it be financial, automobile, electrotechnical or chemical, you will find names of recognised world leaders which speak for itself. The main thing to what it is necessary to get used to the foreign investor, is to four - five - and sometimes and to six-place figures of stock quotes and to two-place figures of their change.
dynamics of stock quotes of the Japanese companies at the Tokyo stock exchange (Y)
the Note: Share prices are given at the moment of stock exchange closing (15. 00)
* n/ a - the data is not present
the Source: Telekurs, FT.
the Most interesting, from the point of view of conservatives, there are securities of the largest Japanese financial corporations and banks. First of all, it concerns Bank of Tokyo, Fuji Bank, Sanwa Bank, Yamaichi Securities, Sumitomo Bank. Besides, popular there are also securities of the automobile or electrotechnical companies - Nissan, Honda, NEC, NTT.
Certainly when we speak about reliability of actions, we mean, certainly, their relative reliability. When business concerns money, from risk shareholders even the most succeeding companies are not insured. The freshest example - the dump of actions Sony which has begun one week ago. Its reason began to overestimate the decision of a management of corporation market cost of one of the American divisions - Sony Pictures Entertainment (before known under name Columbia Pictures). It has appeared that when Sony she bought the Hollywood film studio, slightly for it has overpaid. Basically, some experts said about it from the very beginning - after all the sum of $3,4 mlrd was in 340 times above film studio incomes. However, the lesson presented Sony, simply once again proves known true about riskiness of operations in stock market.
though it is quite possible, what exactly now when actions Sony become cheaper, them and it is necessary to buy. Present fall is caused by obviously time factors that does their unpopular only in the opinion of fans short games. After all, even if shareholders this year remain without dividends (and it absolutely yet the fact), they, nevertheless, will not appear in a situation and - lja MMM Or CHara - bank and on doors a staff - apartments of corporation you hardly will find a note: Excuse, we have moved . Besides, by tradition after a year without dividends the companies double them.
if you feel in yourselves bent for to a stock exchange of the Country of a rising sun, it is necessary to pay attention to two important moments. Now actions are included in listing of the Tokyo stock exchange of some the large foreign companies. Basically, to play strangers actions in Tokyo favourably enough, first of all at a favorable course of yen to the stranger to currency, and anyway knowing that till now rules of listing of foreign actions in Tokyo one of the most strict in the world. Now these rules change, allowing an exit on the Tokyo securities market to smaller companies from the nearby countries Jugo - East Asia. Therefore in Tokyo we recommend to concern game by foreign actions with the big step.
Besides, and it is already pure Japanese line, - estimating a condition of a securities market of the Country of a rising sun it is not necessary to hope especially for an index blue counters Nikkei - 225 as on an ideal barometre. The matter is that this index entered still in 1949, pays off under actions of 225 companies which were that on is blue counters but in 1949 when a basis of economy of Japan were textile, rybopererabatyvajushchie and the other similar companies. Such the index remains and till now. It is necessary to tell that else one year ago there was a conversation on cancellation of this index. It does not describe a real state of affairs and does not allow to predict change of stock quotes. Therefore wishing to receive full representation about a stock market condition should address to the data counted on all actions of the Tokyo stock exchange of index TOPIX which has been entered 20 years later after occurrence Nikkei.
Australia - an Anglo-Saxon oasis in Pacific ocean
we Will be transferred, however, on the most conservative market of region - Australian. In character it practically differs nothing from original western the markets. The major factors of influence on the market of the Australian actions - position of the financial markets of New York and London, but also, instability of prices on gold both other precious and nonferrous metals. All speaks it very simply: their extraction traditionally plays an important role in national economy, the companies occupied with it, - one of the largest in the country so, any changes in the world commodity markets quickly find reflexion in actions of investors. Besides, a considerable quantity of the Australian companies was brought by the actions in listing London and Nju - Jorksky stock exchanges. In turn, many large English and American companies are branches Australian (such, for example, as merdokovskaja News Corp.) And on the contrary. Thus, that with a high share of accuracy to predict, as will pass the auctions in Sydney, the nobility as Americans and Englishmen have the day before played suffices.
one more interesting feature of the Sydney stock market is that on it practically does not render influence that experts name regional spirit or a regional spirit . Events in Tokyo have for Australians smaller value, than, for example, for Singaporeans or gonkongtsev. And rather active Asian investors (the same Japanese and Chineses from Hong Kong), getting to operational halls of the Sydney stock exchange, absolutely forget about how they operated in the own countries, and begin to compete with Australians in loyalty to English - to the American values.
from the point of view of long-term investments (about short-term on the conservative markets It is not accepted to speak) the most attractive represent actions of the financial and gold mining companies.
dynamics of quotations of the most interesting actions at the Australian stock exchange (Sydney) (A $), Nju included in listing - Jorksky and London stock exchanges.
dynamics of stock quotes
the Note: Share prices are given at the moment of stock exchange closing (15. 00).
* n/ a - there is no data
the Source: Telekurs, FT.
Local analytical and consulting groups believe that as the most successful placing of the capital for average and small investors purchase of actions of the mining and gold mining companies serves. It is preferable, that, except diversifitsirovannyh the extracting companies, in a portfolio the companies specialising on gold mining and not precious minerals have been presented also. Their quotations seriously enough depend on the prices for the goods, and is already noted, for example, that bull game by gold (speculation for the rise of actions) usually coincides with bear game, for example, nonferrous metals, and on the contrary. Presence in your portfolio of actions specialised the companies, thus. Can have a certain stabilising effect.
risky operations - only for solid clients
It is reversible now to the most curious stock exchanges of region - Hong Kong and Shanghai.
if you love risk and have spare cash these stock exchanges can appear for you both are interesting, and are useful.
At once it is necessary to tell that all activity of the Hong Kong stockbrokers occurs against coming nearer 1997 - year when this for the present the British colony will pass under the sovereignty of the Chinese National Republic. That will be further, is not absolutely clear yet. However in statements of the Peoples Republic of China for that, as after official kitaizatsii from the point of view of business here all remains to a colony as at the time of sovereignty of the British crown, investors why - that do not trust. And cool relations between present and future owners of a colony obviously frighten off clients from local blue counters - almost from them strong British roots have all. For example, Swire, Jardine Matheson has informed on forthcoming evacuation from Hong Kong, and the holding company at least one of the most powerful corporations of a colony - Hong Kong and Shanghai Banking Corporation - HSBC Holdings officially is considered the British company. On this as experts of local stock market mark, the Hong Kong investors rise and fall asleep with thoughts on Beijing. And if in you the risky player has woken up, prepare - in your life there will be new interests. Illnesses of the Chinese heads, party and governmental actions in Beijing, mutual visits of the British and Chinese officials become latest news for you. More all on light should disturb you, as pass negotiations numerous English - the Chinese contact groups or the commissions, and a state of health of the British governor of Hong Kong Chris Pettena.
Except blue counters at the Hong Kong and Shanghai stock exchanges is also red counters - actions of the companies having especially close contacts to China, having in territory of the Peoples Republic of China factories or, on the contrary, branches of the Chinese companies in a colony. These actions are in the habit to react most quickly on vysheoznachennye diplomatic, political and secular factors.
Yes, Hong Kong it is possible to name Mecca hazardous players. And if you wish to test the whole scale of thrills it is better than operational halls of stock exchange of Hong Kong than a place not to find to you
Having talked about risk factors, we will note the positive moments of a colonial securities market. In - the first, the price level in the market is low enough in comparison with other stock exchanges of region, and the list of companies definitely attractive to investments is great enough. Unlike other stock exchanges of the world, the group action utilities (municipal services securities) - Hong Kong Electric, China Light, Hong Kong and China Gas and group of the large companies - land owners and building contractors (Henderson Land, Hong Kong Land, Cheung Kong), are considered here not only reliable, but also rather profitable. Under all other conditions these actions are bought by the first, and are on sale the last.
Dynamics of stock quotes at the Hong Kong stock exchange (HK $)
the Note: Share prices are given at the moment of stock exchange closing
the Source: Telekurs, FT.
the Chinese market: feel at home.
At you nostalgia on 70 - the m - is not present problems: go to China, and unforgettable sensations to you are simply guaranteed. And you simultaneously get to atmosphere of the USSR 1970 - h and Russia 1990 - h. Leading stock exchanges in this country two - in Shanghai and Shendzhene (last is practically on border with Hong Kong). Here actions fluctuate according to decisions Parties and the Governments And brokers can quite have in a pocket a quotation collection Mao Tszeduna, and, undoubtedly, daily read Zhenmin Zhibao .
Feature of the Chinese securities market is accurate division of investors on the basis of citizenship. For actually Chinese citizens there are actions of group And (they are quoted in national yuans - zhenminbi). To foreigners to play actions And it is strict - strictly it is forbidden, but for them there are group actions In (are quoted In US dollars). The basic exchange indexes also two. Clearly, also they are called an index And and an index In . Dynamics of both indexes not always sootnosima as, however, and movement of courses in Shendzhene can not coincide with a direction of change of actions at the Shanghai stock exchange.
now the situation at both stock exchanges has no to active short-term investments, however long-term here again it is possible to see the factors involving players in the plan. First of all - doubtless perspectivity of investments for those who does not suffer quick temper, and can wait. Thus it is better to you to show conservatism and to get actions of those groups which are considered as the stablest and in other parts of the world - trading, utilities and the securities which are let out by the building companies. Besides, it would be quite good to look and at when the company has let out the ΰκφθθ:φεννϋε the papers which have been checked up by time, are less risky, rather than beginners of the market.
choosing actions, be interested in the broker
to the Most convenient though and not absolutely simple way of stock market game, the choice of own broker is. The matter is that as well as in all vital questions, we always prefer those who guarantees to us more or less individual οξδυξδ:λθχνξγξ the doctor, the personal notary, the personal lawyer. Time to add to them and the personal broker.
to choose it costs the same as also all the same doctors or notaries. As about a personal reference of friends of speech here cannot go, it is necessary to be guided by names. Therefore to come into contacts is better with representatives of the most known broker houses. Also it is not necessary to worry apropos nationalities the broker: The largest Japanese broker firms, such as Yamaichi, Daiwa or Nikko have the representatives in all share world capitals, as well as American Merrill Lynch or PainWebber. Services of the broker will manage to you on the average in 10 % from a transaction total sum, and at additional expense (it in each broker house is various) to you will give consultation concerning that it is necessary to buy at stock exchange and that it is not necessary.
Besides, many banks serving physical persons, also sell actions in the branches. And at last, it is possible to address and in branches of investment banks and the companies. We will repeat only: before to push branch Merrill Lynch door in Tokyo, attentively choose the actions and the style of game.
NIKOLAY of TEETH