每周投资策略

Group 1: Japan Market Focus - Japan's GDP contracted by 0.5% in Q1 2024, marking the first year-on-year decline since 2021 [4] - Domestic spending is pressured by rising import prices, but real household income data indicates wages are catching up with prices, suggesting better personal consumption and investment in H2 2024 [5] - Nissan Motor Co. forecasts a 51% increase in operating profit for FY2024, exceeding previous guidance, driven by a significant recovery from chip shortages [9] Group 2: UK Market Focus - The UK is expected to lower interest rates ahead of the US, with a focus on banking and energy sectors, particularly HSBC and Shell [10][12] - Factors pushing inflation include currency depreciation and rising global commodity prices, although these factors may have peaked [13] Group 3: South Korea Market Focus - South Korea's private consumption has stagnated since late 2022, with housing prices down over 10% since 2022, potentially leading to negative wealth effects [15] - Kia Corporation's Q1 2024 operating profit exceeded market consensus by 21.2%, with an operating margin of 13.1%, indicating undervaluation [19] - Meritz Financial's Q1 2024 net profit reached 586 billion KRW, a 62% quarter-on-quarter increase, driven by strong insurance business performance [29]