Nomura analysts write that Asian telcos were the worst performers in February, down 1%. Even excluding Japan the sector was the worst performing last month and YTD. Outliers were Korea, Thailand, India, Phillipines, and Indonesia, where telcos outperformed local indices.
A man looks at mobile phones at the Softbank’s headquarters in Tokyo. Photo: Reuters, Toru Hanai
Asian telcos are in the doghouse: Nomura
Even excluding Japan the sector was the worst performing in Asia last month and YTD.