Japanese shares hit a 16-month high on Tuesday

Japanese shares rallied on Tuesday, sending the benchmark Nikkei gauge to the highest close in 16 months, led higher by steelmakers on upbeat corporate earnings.

Shares of JFE Holdings Inc jumped 14.5%, the steepest gain in 14 years, after Japan’s second-biggest steelmaker forecast a profit surge as auto demand recovers.

The Nikkei climbed 1.01% to 29,242.82, the highest closing level since January 2022. The broader Topix rose 1.27% to 2,097.55, highest since September 2021.

Fidelity Japan Trust PLC (LON:FJV) aims to be the key investment of choice for those seeking Japanese companies exposure. The Trust has a ‘growth at reasonable price’ (GARP) investment style and approach – which involves identifying companies whose growth prospects are being under-appreciated or are not fully recognised by other investors. 

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