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TOPIX Index

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TOPIX trade ideas

Ongoing recovery & Relatively Dovish BOJ = Long TOPIXAs Japan economy continue to recovery from the Delta outbreak, Japanese equities which have relatively low valuation vs other markets (forward P/E of TOPIX is about 14.3x vs MSCI ACWI of 20x) and have more cyclical sectors vs other markets (EU markets also have good cyclical exposures) should benefit from post-COVID recovery or reopening plays. Moreover, the BOJ will maintain easing monetary policy at least until 2023 and the government will keep boosting economy via massive fiscal stimulus. Hence, Japanese stocks TSE:TOPIX will offer at least 10% upsides from now easily. The first target for TOPIX would be this year's high which should be reached within the next 6 months.
TSE:TOPIXLong
by electricalRide18697
S&P vs TPX: Normally, I like to bash JapanBut in this instance i think on a relative value basis, theres a bit more near term room for upside in the land of the rising sun. Retail Japan have been heavy buyers of US mutual funds and for good reason given the hefty outperformance. Earlier in the year BoJ announced that their ETF purchases would be more in TPX than NKY and given the Omicron overhang, I would not be surprised to see them in the market to smooth out any downside moves. Domestic instos rumored to be bid at NKY 27,500 (only 1% lower) and retail will likely cut their US exposure into CYE. Would really like to see USDJPY above 113 to help the exporters...
TSE:TOPIXLong
by geoffm123
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