The superdebutto of Japan Post pushing the Nikkei (+ 1.3%) – Il Sole 24 Ore

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This entry was posted on November 4, 2015 at 7:38.
The last change is the November 4, 2015 at 07:58.

The three debut with a bang for the largest IPO globally this year is good Nikkei index of the Tokyo Stock Exchange, which closed in progress 1.3% to 18,926.91 points and driving the increases spread on Asian markets.

After the break yesterday to the feast of culture, the Japanese stock market – by retrieving shooting the slip of 2.1% on Monday – began trading on a very positive tone wave of enthusiasm for the debut of trading of Japan Post and its two main subsidiaries. An upward trend also facilitated by the previous positive close on Wall Street (linked to the recovery in oil prices) and the weakening of the yen over quota 121 against the dollar.
The focus of the day was the start of trade of Japan Post Holdings, Japan Post Bank and Japan Post Insurance in major IPOs (triple) of 2015 in the world (with a total value equivalent to about $ 12 billion, more than the placement of the Chinese Alibaba last year). The holding company and the banking division suffered registered a surge of over 15% on the placement price (already fixed to the maximum initial fork), while Post Insurance has even struggled to start due to the boom of purchase orders and treated in up by more than a third on the price of IPO. The shares of Post Holdings closed up by more than 20%, those of the bank of more than 15% and those in the insurance division even with a jump of 56% .L’offerta was paid for about 75% of the total domestic retail. The state sold a 11% stake in the three companies and foreign institutional went a tranche of about 20% of the total.

The privatization of the giant post-financial Japanese, late ten years, is set to shake up not only to the services sector, but the attitude of the mass of Japanese savers, who awarded the placement (drawn the siren of the dividend promised) seem oriented more towards investment in equity: the public has realized that, unless major financial crises, it is better to invest in Japan Post and in the two subsidiaries, which do not leave money on deposit at Japan Post Bank interest to practically zero. So far the average portfolio of Japanese savers is oriented to equities only 11% of the total, a level well below that prevailing in other advanced countries. The increased privatization of Japan 80s spurs them now towards greater exposure to risk assets.
A positive signal for investors is then arrived from the data on the automotive industry in the States, where in October the Japanese manufacturers have achieved results sales records, led by 13% of Toyota. The Nikkei index Pmi of the services, moreover, is improved in October with a reading of 52.2. Best also similar PMI Caixin, at an altitude of 52 in October, muffling concerns over slowing growth in Beijing.

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