Shares of Mitsubishi Motors jumped 4.5% recently after news of a potential partnership with Foxconn, a major Taiwanese electronics manufacturer. According to a report by Nikkei, the two companies have been in talks for over six months. This collaboration could significantly boost Mitsubishi’s electric vehicle (EV) offerings at a time when the demand for EVs is rising globally.
Meanwhile, Japan’s inflation rate eased to 3.7% in February, down from a two-year high of 4% in January. Core inflation, which excludes fresh food, was recorded at 3%, lower than the previous month’s 3.2%. Interestingly, forecasts from economists had expected it to drop to 2.9%. These numbers come shortly after the Bank of Japan decided to keep interest rates steady, reflecting the central bank’s ongoing efforts to stabilize the economy.
In the U.S., individual investors are showing unusually pessimistic sentiments. A recent survey by the American Association of Individual Investors revealed that bearish views on the market have dominated sentiment for the tenth time in twelve weeks. Currently, 58.1% of individual investors consider the market to be bearish, well above the historic average of 31%. Surprisingly, nearly 75% of those surveyed believe a recession this year is likely, with over half citing the chances as "higher-than-typical."
In housing news, U.S. home sales have picked up more than expected in February. According to the National Association of Realtors, sales of existing homes rose by 4.2% from January, reaching an annual rate of 4.26 million units. While this represents a slight decrease from the same time last year, it’s still better than what many analysts predicted. This rebound hints at a growing confidence among homebuyers as more homes become available.
In summary, there are notable shifts in the market both in Japan and the U.S. Investors remain cautious, while certain sectors, like real estate, are showing signs of improvement. Keeping an eye on these trends will be vital as we move further into the year.
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