The stock rally that pushed Japan¡¯s Nikkei 225 Stock Average past a record that stood for more than three decades looks set for further advances as foreigners rush back in.
That¡¯s the view of investors and strategists, who are also watching for a potential broadening of equities gains that may take the wider Topix index to an all-time high this year. Fund flow data indicate there¡¯s scope for trillions of yen to return to Japan¡¯s stock market based on figures compiled by Bloomberg.
With the nation¡¯s deflation era now seemingly behind it, Japanese companies showing signs of sustained profit growth and the Tokyo Stock Exchange championing shareholder interests, some analysts project gains of more than 10% for the Nikkei. The Topix also remains about 8% below its 1989 peak.
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