JPMorgan: A stronger yen will ease pressure on JGBs, and AI and semiconductor sectors may accelerate recovery.

BlockBeats News, September 9 - JPMorgan Securities Japan strategists stated that a stronger yen is expected to alleviate upward pressure on Japanese government bond yields, thereby driving an earlier recovery in the AI and semiconductor sectors listed in Tokyo. Strategists including Rie Nishihara noted in a report that the real estate sector, which has recently underperformed, is also likely to benefit. Some sectors are facing the negative impact of yen appreciation on earnings, such as transportation, logistics, and the automotive industry.

JPMorgan's view on the potential rise of Tokyo's AI and semiconductor sectors contrasts with Saxo Bank's global equity outlook for the sector. Saxo strategist Charu Chanana previously stated that a yen rebound could trigger unwinding of some crowded and leveraged positions. (Jin Shi)