Japanese stocks are poised to extend their bull run into next year, a survey shows, as a U.S. trade agreement and a corporate reform drive stoke investor sentiment.
The Nikkei Stock Average is projected to rise an average of 10% over the next 12 months from its most recent record high of 43,714.31 reached this month, according to a poll of nine market participants. The benchmark could climb as much as 28.4% from Thursday’s close under the most bullish forecast.
The trade accord reached between the United States and Japan, which helped avert a worst-case scenario, adds momentum to the market already buoyed by strong earnings and a surge in share buybacks last quarter. Investors are also encouraged by the breadth of the rally, a contrast to last year’s narrower advance, bolstering confidence that gains can be sustained.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.