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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 19 January 2024. BDN financial editor Roger Willis reports.
USA — HERE WE GO AGAIN
Yet another see-saw week began with global equities sliding, driven by strong doubts about China’s economic health added to caution from central bankers in the US and Europe over the outlook for interest rates. But by Friday, sentiment had been transformed. Wall Street stocks hit an all-time high, with powerful gains for large technology companies pushing indices to record levels after the year’s shaky start.
Blue-chip S&P 500 firms led the charge, peaking 1.2% up. NASDAQ Composite techie superstars were also to the fore, collectively climbing by 2.3%. The Dow Jones Industrial Average and S&P’s MidCap 400 were positive too, although less enthralling, with respective 0.7% and 0.5% rises.
However, concerns about China didn’t go away and were amply illustrated by the woes of NASDAQ-listed Chinese ePTW giant Niu Technologies, which has been steadily losing stock value and sales volume. Niu’s full-year unit sales of electric mopeds, scooters and motorcycles in 2023 were 14.6% down to 709,802. Some 600,994 of these were sold in China and 108,808 exported to international markets, including a few to the UK.

Currency: dollar

Price

Week

Month

Harley-Davidson

33.51

-1.7%

-6.7%

Polaris Industries

93.57

+6.1%

-1.1%

Textron

78.79

-0.7%

-2%

Ideanomics

(Energica)

1.22

-25.6%

-35.4%

Niu Technologies

1.77

-10.6%

-16.9%

LiveWire

11.32

+3.6%

-4.4%
EUROPE — GERMANY FALLING
Eurozone market indices with motorcycle industry presences were all on the back foot — but losses weren’t allocated to any particular weakness on their behalf. Instead, investors were rattled by inescapable news that the German economy, traditionally Europe’s most muscular driving force, was spannered and now officially in recession.
Due notice was taken by Teutonic traders in Frankfurt, where the Xetra Dax retreated by 0.9% and both BMW and Volkswagen shares dropped by considerably larger margins. Adjacent Austria’s Wiener Börse ATX suffered a harsher 1.6% dive and KTM parent Pierer’s stock took a kicking too. Milan’s FTSE MIB fell by a smaller degree of 0.6% and Piaggio successfully dodged any punishment whatsoever.

Currency: euro

Price

Week

Month

BMW

92.30

-4.7%

-8.3%

Volkswagen

116.25

-3.5%

-3.3%

Pierer Mobility

50.00

-5.7%

+5.3%

Piaggio Group

3.04

+2.4%

+2%
JAPAN — CHIPS WITH EVERYTHING
 
Japanese investors enjoyed a good week, as quarterly results emerged highlighting positive earnings for indigenous microchip makers. Tokyo and Osaka’s Nikkei 225 index rallied on the back of that, finishing 1.1% up. The parental entities of Honda, Yamaha and Suzuki, shortly to release their own Q3 data, rode higher on this benign mood. the Kawasaki Heavy Industries conglomerate, its powersports business shackled to an awkward squad of often underperforming divisions, didn’t.

Currency: yen

Price
Week
Month
Honda
1587
+1.5%
+9.7%
Yamaha
1382
+2.6%
+6.1%
Suzuki
6530
+1.2%
+7%
Kawasaki
3206
-1.7%
+4.8%
INDIA — PARTY POOPERS
The speculative surge for motorcycle manufacturing stocks, engendered by Bajaj Auto’s extravagant share buy-back proposition during the previous week, petered out rapidly. A resultant hangover saw the majority shedding value in response and may have contributed to Mumbai market indices turning negative. S&P’s BSE Sensex 30 and the NSE Nifty 50 respectively declined by 1.6% and 1.5%.

Currency: rupee

Price

Week

Month

Hero MotoCorp
4399.75
+0.4%
+11.8%
Bajaj Auto
7136.55
-2.3%
+12%
TVS Motor
2037.00
-2.4%
+3.5%
Eicher Motors
3699.45
-4.4%
-7.7%
Mahindra
1655.55
+1.9%
+1.3%
CHINA — STOP SIGN FOR SHARE SELL-OFF
In an extraordinary stealth intervention, Chinese equities regulators have begun to order institutional investors to cease selling stocks, in what has swiftly proved to be a failed attempt to stabilise plummeting share prices since the new year. Despite these threats, market indices continue to retreat. In the past week, Shanghai’s all-share SSE Composite and the blue-chip CSI 300 of top companies listed in Shanghai and Shenzhen respectively fell again, by 1.7% and 0.4%.
Among the ten listed Chinese motorcycle manufacturers, nine were losers. The solitary winner was Sundiro’s Honda JV, which exports virtually its entire production in CKD kit form to Honda assembly plants in SE Asia and Japan.

Currency: yuan

Price
Week
Month
Qianjiang
11.58
-3.8%
-4.1%
Zongshen
5.99
-7.8%
-9%
Sundiro
2.97
+5.7%
-1.3%
CETC (Jialing)
12.01
-6.4%
-12.6%
Lifan
3.23
-4.7%
-10.3%
Loncin
4.90
-3.4%
-4.3%
Linhai
9.27
-5.5%
-13.6%
Guangzhou Auto
8.35
-1.8%
-3.1%
CFMoto
97.90
-2.1%
+4.1%
Xinri E-Vehicle
11.66
-5%
-5.1%
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