(Bloomberg) — Japanese equities are “still cheap” and the Nikkei 225 Stock Average will likely rise more than 20% to 29,000 next year, according to Oki Matsumoto of Monex Group Inc.Matsumoto, a former general partner at Goldman Sachs Group in Japan, said the local stock market is where investors could “aggressively seek capital gains,” given its valuations are relatively low compared with the U.S. and Europe. The benchmark Topix index is trading at less than 14 times its 12-month forward estimated earnings compared with the S&P 500 Index, which is at 18 times.“My view is more bullish than Monex Securities’ …read more
Source:: Yahoo Finance
