Tokyo share prices may remain in a correction phase through much of the coming months. With investor sentiment at its lowest level in years, the market is unlikely to shake off its bearish sentiment anytime soon.
A broad array of stocks have taken repeated beatings in recent months, raising fears the benchmark Nikkei average will soon hit a new postbubble low.
The 225-issue average hit a 23-month closing low of 13,423.21 on Dec. 21, the day after the U.S. Nasdaq composite index plunged to its lowest level in 21 months amid concerns over slowing U.S. economic growth and falling company profits.