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BCA: Are Japanese exports to China at Risk?
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Author BCA: Are Japanese exports to China at Risk?
HenryTo
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Joined: 06 Aug 2004
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PostPosted: Wed Apr 13, 2005 8:06 am    Post subject: BCA: Are Japanese exports to China at Risk? Reply with quote
Says that the growth in exports to China have already been decelerating prior to the recent ant-Japanese sentiment in China. Any further deceleration here could put Japan's economy and the stock market at the brink:

http://www.bankcreditanalyst.com/public/story.asp?pre=PRE-20050413.GIF

I looked at the forward P/E ratio of the TOPIX over the weekend and it is expected to be 19 to 20 - which is still pretty high compared to the S&P 500. You may say that earnings are artificially depressed for the TOPIX here but I really can't be sure about that. We will see.

Henry
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