Norihiro Fujito - Mitsubishi UFJ Morgan Stanley Securities

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Last quote by Norihiro Fujito

U.S. stocks have momentum now, and it's carrying over to other markets. Investors, including foreigners who were significant net sellers in recent months, are buying ahead of Japan's election on Sunday.feedback
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Oct 18 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: “This is an election play. Such hedge funds as event-driven funds are likely chasing the Japanese market higher thinking that it won't fall before the election. But they may take profits at the end of the next week.” in the article Nikkei notches 21-yr high as Fast Retailing adds momentum, Kobe Steel dives.
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Norihiro Fujito quotes

Aug 29 2017 - Japan

The market was spooked after the dollar dipped below 108.50 yen.feedback

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 Houston.feedback

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 actively.feedback

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 today.feedback

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 month.feedback

Jul 14 2017

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

Jul 07 2017

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

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 be.feedback

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 factors.feedback

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 rebound.feedback

Jun 16 2017

The U.S. data overnight triggered shortcovering.feedback

Jun 09 2017 - Brexit

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

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 market.feedback

Jun 02 2017 - Japan

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

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 policy.feedback

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 profits.feedback

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 receded.feedback

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 back.feedback

May 02 2017

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

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 earnings.feedback

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 election.feedback

Apr 13 2017

Trump's big mouth...is creating volatility in the market.feedback

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 rare.feedback

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 diminishing.feedback

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 stance.feedback

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 higher.feedback

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 strengthens.feedback

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 now.feedback

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 Japan.feedback

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 companies.feedback

Jan 24 2017 - Protectionism

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

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. President.feedback

Jan 16 2017 - Japan

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

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 today.feedback

Dec 29 2016 - Toshiba

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

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 profit-taking.feedback

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 week.feedback

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 picture.feedback

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 is.feedback

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 percent.feedback

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 now.feedback

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 Japan.feedback

Nov 11 2016

Investors are partying around as Trump brought the punchbowl to the market.feedback

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 today.feedback

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. election.feedback

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 us.feedback

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 moves.feedback

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 stocks.feedback

Sep 29 2016 - OPEC

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

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 market.feedback

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 releases.feedback

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 16,500-mark.feedback

Sep 07 2016 - Japan

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

Sep 07 2016

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

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 level.feedback

Aug 24 2016

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

Aug 12 2016 - Toshiba

Looking ahead, expectations of BOJ ETF buying will support the market.feedback

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 election.feedback

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 Brexit.feedback

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 while.feedback

May 23 2016

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

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 market.feedback

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 crazy.feedback

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 rates.feedback

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