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 October 2022
"Deja-vu of early summer"
The Japanese stock market rebounded strongly along with global financial markets amidst a resurgence of optimism that the Fed would ease its hawkish tightening stance given slowing growth. TOPIX 12 month forward PER ended at around 12x.
Amidst falling cabinet approval ratings, FX intervention and pivot to growth from redistribution policy from Japan’s 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.
pdf Asset Management One International Market Review Oct 2022