Japan: still out of step

Article Abstract:

Japanese share prices have dropped in the 1990s while share prices have risen in other major markets. The Nikkei 225 is only some half the level achieved at the peak in Dec 1989. Foreign investors have been affected by the decline in the value of the Japanese yen, if they have not hedged against this possibility. UK investors have been especially hard hit since pound sterling has risen in value. There may be some improvement as economic growth recovers and administrative reforms are carried out. Investors are likely to be cautious despite low Japanese interest rates.

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Japan: optimism wanes

Article Abstract:

Japanese fund managers are les optimistic about the performance of the stock market, according to a survey by Merrill Lynch. This is linked to decreased optimism about the performance of the economy in 1997, with 67% forecasting an improvement compared to alomost all fund managers responding at the start of 1996. Growth in profits for FY 1997 t 1998 is forecast at 7.4%. The Japanese bond market should benefit from this pessimism about the performance of the stock market.

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