Japan’s Nikkei 225 share index is set to push through 20,000 points thanks to ultra-easy monetary policy rekindling confidence in the world’s third largest economy, a raft of equity experts told CNBC on Wednesday.
“We are long the Japanese equity market and I feel very comfortable with that position,” Bob Parker, the senior investment, strategy and research advisor at Credit Suisse, told CNBC.
Parker believes that the benchmark will outperform its peers adding that a 10 percent rise over the next six months is “not unreasonable.” Ian Wright, the director of investment management firm Morant Wright, told CNBC that the 20,000 point level is achievable and said that the Bank of Japan has essentially been given an assignment to “buy the market” to ward off the weak inflation that has plagued the country for decades.
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