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SHARE PRICES AND MARKET ANALYSIS

A snapshot of motorcycle and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 29 December 2023. BDN financial editor Roger Willis reports.

USA — PROMISING PROJECTION

A stout two-month rally saw most key global stock markets exiting 2023 with excellent gains. Investors were clearly betting that major central banks had finished raising interest rates, having won the anti-inflation battle, and were ready to cut them rapidly as the new year began to unfold.

US investment activity during the few working days between Christmas and the New Year was gestural, though, as evidenced by market indices that barely stirred. At the sharp end, blue-chip S&P 500 stocks put on just 0.3%, while S&P’s MidCap 400 actually retreated by 0.2%. the Dow Jones Industrial Average staged a “best” performance, rising by 0.8%. Tech-savvy traders managed only 0.1% positivity for the NASDAQ Composite.

Currency: dollarPriceWeekMonth
Harley-Davidson36.84+2.6%+17.6%
Polaris Industries94.77+0.2%+8.4%
Textron80.42N/A+3.3%
Ideanomics

(Energica)

1.99+5.3%11.2%
Niu Technologies2.19+2.8%-6.4%
LiveWire11.31-4.5%+3.9%

 

EUROPE — BETTER LUCK NEXT YEAR?

Similar lack of enthusiasm for anything that didn’t involve eating, drinking or god-bothering afflicted European profit hunger too, with virtually static market indices. Frankfurt’s Xetra Dax lurched to a 0.3% gain by the close of Friday’s fore-shortened session. The FTSE MIB in Milan completely flatlined, as did Piaggio shares. The only spark of life was visible in Austria, where KTM parent Pierer Mobility’s share price recovered by 4.6%, reflected in a Wiener börse ATX index gain of 0.8%.

Currency: euroPriceWeekMonth
BMW100.78+0.1%+4.8%
Volkswagen118.45-1%-0.1%
Pierer Mobility49.70+4.6%-18.8%
Piaggio Group2.98N/A+10%

 

JAPAN — INSCRUTABLE AS EVER

Considering the Japanese don’t celebrate Christmas — messiahs don’t figure in the animist Shinto religion — you’d expect a bit more energy. But it wasn’t evident. Tokyo and Osaka’s Nikkei 225 stock index rose by 0.8%. Motorcycle manufacturing share price influences were pretty much lacking direction — gains for Honda and Kawasaki, losses for Yamaha and Suzuki. Yamaha used the year-end as a chance to double stock liquidity.

Currency: yenPriceWeekMonth
Honda1466+1.3%-4.2%
Yamaha1259.5-3.3%-1.5%
Suzuki6033-1.1%-0.4%
Kawasaki3119+2%-6.8%

 

INDIA — GOOD BETS?

An auspicious New Year was probably factored into Indian investors’ mood and market indices prospered. Mumbai’s BSE Sensex was lifted by 1.6% and the NSE Nifty 50 finished 1.8% higher. All five major indigenous motorcycle producers made sound gains.

Currency: rupeePriceWeekMonth
Hero MotoCorp4139.55+5.2%+10.1%
Bajaj Auto6797.25+6.7%+12.4%
TVS Motor2025.80+3%+6.1%
Eicher Motors4143.50+3.4%+6.5%
Mahindra1729.40+5.8%+6.4%

 

CHINA — NO RELIEF FOR THE WICKED

Latest deleterious data from FT sources illustrated that almost 90% of foreign money that flowed into China-listed shares during 2023 has been withdrawn, owing to pessimism among global fund managers over the outlook for China’s economy. Foreign investment apparently peaked in August at around the yuan-renmimbi equivalent of US $33bn but has since plunged rapidly.

Among the ten listed Chinese bike manufacturers BDN surveys, CFMoto is uniquely on a growth track, given its recent attraction for overseas investors (Pierer Mobility and Yamaha) finally bearing fruit.

Currency: yuanPriceWeekMonth
Qianjiang12.47+3.2%-6.9%
Zongshen6.63+0.8%-2.4%
Sundiro2.96-1.7%+4.9%
CETC (Jialing)13.99+1.8%-7.3%
Lifan3.58-0.6%-15.2%
Loncin5.16+0.8%-8.2%
Linhai10.22-4.8%+0.1%
Guangzhou Auto8.75+1.5%-11.2%
CFMoto102.24+8.7%+12.3%
Xinri E-Vehicle12.51+1.8%-11.5%

 

 

 

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