Earnings Outlook Spurs Hope Japan Stocks Will Hold 2024 Gains
- Nikkei 225 may gain 19% in Jan-Dec. period, survey shows
- China’s equity rebound may create headwind for Japanese stocks
The Nikkei 225 Stock Average may finish the year up 1.3% from its current level to 39,844.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Investors are counting on solid earnings to help Japanese shares hold their gains in the final stretch of a volatile year that saw the market go from one of the world’s top performers to the epicenter of a global meltdown.
While unlikely to revisit the record hit in July, the Nikkei 225 Stock Average may finish the year up 1.3% from its current level to 39,844, according to the average forecast of nine analysts surveyed by Bloomberg from Sept. 27 to Oct. 7. The broader Topix will tick up 2.1% to 2,797, the average estimate of seven analysts showed, bringing the annual increase to 19% for the Nikkei 225 and 18% for the Topix.