Strategists say “foreign investors are back” as Japan’s Tokyo Price Index hit its highest point since August, 1990.
It could be good news for Japanese whisky and sake makers as the Tokyo Price Index (Topix) rose by more than 6% this week (year-to-date), and continues to trade higher, reflecting an investment market in line with its 1990 heyday.
The broad-based index, made up of about 2,000 constituents, has outperformed its regional peers in Asia Pacific.
“Foreign investors are back – which says something about the nature of the equity market recovery in Japan,” Societe Generale’s Asia equity strategists Frank Benzimra and Tsutomu Saito said in a statement on Tuesday 16 May.
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