Negative calls on Japan’s market remain few and far between even after a nearly non-stop rally for more than two years, suggesting confidence in the economic revival may not be misplaced.
“Our overall assessment of the new growth strategy is now ‘A-,’ improved from the previous assessment of ‘B+,'” Societe Generale said in note earlier this month. “Japan has entered a positive economic cycle.”
The Japan market has rallied — nearly doubling since the beginning of 2013 and up nearly 17 percent so far this year — despite doubts over whether Abenomics, or Prime Minister Shinzo Abe’s plan to kick start Japan’s economy out of its decades-long deflationary slump, would see any success.
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