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Alternative Market Briefing

Sparx optimistic about outlook for Japan

Wednesday, October 15, 2014

Benedicte Gravrand, Opalesque Geneva:

According to SPARX, there are causes to be optimistic about the outlook for the Japanese market and the country's economy in general.

Sparx Asset Management is a Tokyo-based asset manager, part of Sparx Group. The latter manages JPY 17.5 billion ($1.6bn) (as at end Sept.) in several Japan, South Korea and pan-Asia focused funds.

Japan stocks may have just seen a five-day losing streak, but rebounded today (October 15th) with the Nikkei Average rising 0.4% and the broader Topix index adding 0.3%, reports MarketWatch, while the yen continued to weaken, trading at YJP 107.23 against the dollar (compared to YJP 107.30 yesterday).

Japanese equity markets performed strongly during Q3-2014. Markets traded within a range during the summer, and then rose sharply in September due to the weakening yen. That quarter, the TOPIX Index (with dividends) and the Nikkei 225 rose +5.82% and +6.67%, respectively.

The global geopolitics worsened of Q3, and indicators pointed to a slow but positive recovery in Japan, says Sparx. Capital expenditures slowed, industrial production weakened more than expected, some companies are making slight downward revisions to their p......................

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