Last week, before some of the more colorful comments by President Trump, namely telling (or strongly suggesting) that US firms leave China, we were looking at a series of stocks such as Kyocera, Sony, TDK, Murata Nidec, Hitachi and some small caps such as Hokuto and Maruwa as names we liked a lot. Given the rally in USDJPY toward the 107.00 level, these stocks traded well. However, the shock from several tweets and the subsequent rush into safe haven currencies, evidenced by breakdown of AUDJPY, EURJPY and USDJPY, sent the entire tech complex into panic. Some of these stocks are still fading and have yet to find support. Going forward, as USDJPY searches for a price that it feels comfortable with, we will start looking at these names again. Note that Sony is one of the few from the list that is trading well. More on this group and USDJPY later this week.
Kyocera, Sony, TDK, Murata and USDJPY
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