Julius Baer like further upside in Japanese equities

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 calculations​)

TOPIX daily candles

This article was written by Eamonn Sheridan at www.forexlive.com.