With the support of leading companies, Japanese stocks recorded the strongest start since 1990
Japanese stocks made their strongest start in decades, supported by strong buying from foreign and retail investors.
The index continued "Topix" and"Nikkei 225" They rose today, Tuesday, achieving gains of 3.8% and 4.3%, respectively, within two days.
Data collected by "Bloomberg" This rise is strongest during the first two days Tradingin a new year since at least 1990, noting that the noticeable phenomenon was the demand to buy Large companies with huge market capitalization.
Said Hideyuki Ishiguro, chief strategist at the company "Nomura" Asset Management: "Japanese stocks still have lower P/E ratios than US stocks, and foreign investors appear to have a strong appetite for blue-chip stocks."
The boom in Japanese stocks comes amid a similar recovery in US stock exchanges With rising hopes for lowering interest rates, expectations of improved corporate profits, enhanced corporate governance, and Prime Minister Sanae Takaichi’s policies supporting economic stimulus.
According to Masayuki Doshida, chief market analyst at "Rakuten" For securities, stock prices have mostly absorbed expectations of a recovery in upcoming corporate profits.
He added: "If earnings are better than market expectations, the Nikkei could reach 55,000 points, or perhaps more"After the index closed on Tuesday at its highest level ever at 52,518 points.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
