Japanese stocks expected to strengthen, Nikkei 225 to hit record highs

Japanese stocks are expected to strengthen in the coming months with the Nikkei 225 set to hit new record highs this year, UBS analysts wrote in a note, citing optimism over progress in business reforms and strong earnings. 

The Nikkei 225 is expected to close the year at 45,000 points while the broader TOPIX is set to reach 3,120 points- both record highs, UBS analysts said. The figures represent upsides of 19% for the Nikkei and about 17% for the TOPIX from current levels. 

The main performers in Japanese markets are expected to be export-oriented businesses, with UBS also forecasting more weakness in the yen. The brokerage expects the USDJPY pair to close out 2024 at 160, citing a dovish Bank of Japan and higher-for-longer U.S. interest rates. 

JPMorgan Japan Small Cap Growth & Income (LONJSGI), targets Japan income without compromising on Japanese growth opportunities. This Japan income investing opportunity gives investors access to a diverse and fast growing sector managed by local managers.

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