Nikkei Rises To Two Month High

The Nikkei touched a fresh two-month high this week, a sign that concerns about Japan’s economy are fading, analysts say.
“We remain bullish [on Japan stocks] – we went through a difficult patch in the first quarter and took some pain on that trade, but I think it’s still the most logical place in the region,” said Sean Darby, chief global equity strategist at Jefferies. “Real rates are negative, there is ongoing stimulus and the corporate sector is starting to re-engineer its balance sheet.”

Stocks powered higher on Thursday, to reach 15,141 soon after open, it’s highest level since April 3.

Last year, Abenomics – Prime Minister Shinzo Abe’s plan to boost Japan’s economy through aggressive easing, fiscal stimulus and structural reform – saw the Nikkei rise 55 percent, while the yen depreciated 21 percent against the U.S. dollar boosting exporter stocks.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza