Impressive revival

Jonas Lindmark 12.06.2002

Tokyo is this years winner among the major stock markets. Extremely negative sentiment at the beginning of year 2002 set the stage for a rebound. A financial collapse at the end of the fiscal year on March 31st was averted and the probability of needed reforms being realized by prime minister Koizumi appears to increase.

Investor sentiment

Many global asset allocators have upgraded their forecast for Japan during the last two month, maybe looking for an alternative when most other stock markets have turned back down toward their September lows. From a relative performance perspective, Tokyo also has been tempting for those who see US equities as overvalued.

But after 12 years of deterioration, the long term "Japanese miracle" story has few believers. Economic growth

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Jonas Lindmark

Jonas Lindmark  on ollut vuodesta 2000 Morningstarin päätoimittaja ja pääanalyytikko Ruotsissa. Sitä ennen hän kirjoitti yhdeksän vuotta rahastoista Affärsvärldeniin.

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