26January2018TelecommunicationsAPACTelecomsTelecommunicationsTelecommunicationsIndustryUpdateAsiaAustralasiaJapanIndustryAPACTelecomsDate26January2018DeutscheBankMarketsResearchWhatinvestorsarethinkingWhatinvestorsarethinkingWehavebeenmeetingAsianbasedinvestorsfrommidDecemberthroughJanuary.Ourenthusiasmhasbeendifficulttotransfertoskepticalinvestors.EverycompanywerateBuyfeaturesacounter-story,whichcreatesastrongbarriertoinvesting.Currentlyitseemslikethenegativestoriesaregenerallypricedin,whilethepotentialforamorepositivestorytoemergeisdiscounted.Forthisreason,thesectorisheavilyunder-owned,andinterestespeciallylight.Itsusuallyonlythisdifficulttobroketelcoswhentheyhavebeenformingastrongbase.WedonoteathawingofresistanceinJanuary,asthesectorsrelativevaluehasbecomemoreobvious.Butinvestorsappearreluctantto