Asset Management One reviews the Japanese market monthly and provide you with the insightful review and outlook for Japan.
Japanese Investment Commentary and Market Outlook September 2022
"Signs of policy pivot from PM Kishida amid plunging markets"
The Japanese stock market plunged along with global financial markets in risk-off move amid tightening and recession fears. TOPIX 12 month forward PER fell to 11x.
FX intervention and pivot to growth from redistribution policy from the administration, as well as withdrawal of border entry limits and nationwide travel promotion suggest commitment to revive the economy and financial markets.
We remain cautiously optimistic, in principle, on Japanese shares against the backdrop of relatively resilient earnings and attractive valuation levels.