MITSUI KINZOKU $5706: responded to local news of new competition from Lotte Energy Materials, promptly rallied 18%. Many Japanese tech materials companies in the same boat, prone to short squeeze.
Traffic in the Strait of Hormuz would not return to normal until shipowners are confident that the US-Iran deal is ‘material’, the head of Mitsui OSK Lines has warned, noting that there had been multiple false starts over the strait’s reopening.
JAPAN REAL ESTATE: Miki Shoji data show Tokyo 5 central wards ofc vacancy rate at 2.07% in May, trending to lowest since 2019. Rents trending up as vacancies -> 1% with shortage of new supply. Mizuho u/g Mitsui Fudosan $8801 yday, laggard sector has priced in BoJ hike and fundamentals are good. $8802; $8830; $3289; $8804