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Positive signs in Tokyo

Non-performing loans and falling dollar threaten to hurt investments in Japanese funds. Higher economic growth, lower unemployment and stronger support for reforms are arguments to invest.

Jonas Lindmark 09.02.2004
The Tokyo Stock Exchange has outperformed two years in a row and also during January MSCI Japan rose slightly more than MSCI World. Economic growth in Japan during 2003 exceeded expectations, GDP grew by 2,4% last year compared to a concensus of 0,7% as recently as May.

The question now is of course if growth will continue to increase, or in other words, if the bad years are truly behind us. After twelve years with a series of recessions, and without any really strong growth inbetween, many investors both in and outside Japan are still sceptical. But there are positive signs in the latest statistics.

Unemployment fell to 4,9% in December, down from 5,4% in May, and the ratio between the number job offers and job applicants rose in December to the highest level for over te

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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.