The broad TOPIX index of Japanese stocks hit a record high on Thursday, finally surpassing the high set in December of 1989.
Comments via an analyst at Swiss private bank Julius Baer, in summary indicate further upside ahead, citing:
- corporate reforms
- currency and flows
- pay hikes
- earnings revisions
- geopolitics
- large market caps
are adding to the positive outlook for Japanese shares.
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ps The TOPIX is climbing again today.
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TOPIX is the Tokyo Price Index
- covers all domestic companies listed in the First Section of the Tokyo Stock Exchange (TSE)
- designed to track the overall trend of the Japanese stock market
- includes over 2,000 companies
- a free-float adjusted market capitalization-weighted index (only shares available for trading are considered in its calculationsā)
TOPIX daily candles
This article was written by Eamonn Sheridan at www.forexlive.com.
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