Weekly Commentary – Japanese market in second half year
The Japanese equity market has accumulatively risen a lot in term of Yen in the first half year, although there happened to be some adjustments since May. Refer to Weekly Commentary – Japanese equity market spring (10 June), we discussed the short term trend of Japanese equity market, and we expected Japanese equity was strong enough to spring. Next, we are going to discuss what factors will influence Japanese stock market in second half year.
It is widely regard that the trend of Japanese stock market is positive in second half year. In May, the drop of Japanese equity was mainly because U.S dollar changed to weak versus Yen. However, this will not happen again easily, due to Fed is going to start tapering QE. U.S 10 Treasury Bond Yield was higher and higher and dollar was stronger and stronger. It is a good sign for Japan economic recovery, and support Japanese equity market. Beside Fed policy change, recent economic data showed Japan was on the step of recovery, such as Japan’s core CPI in May was flat, Retail Sales amount increased 0.8% and Industrial output was grew 2.0%.
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