Goldman Lauds Japan Defense Shares on Abe Push: Chart of the Day
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Defense-related shares in Japan beat the national benchmark and U.S. peers since Prime Minister Shinzo Abe came to power and embarked on a policy to strengthen the military and lower barriers to arms exports.
The CHART OF THE DAY tracks defense gauges for Japanese, American and European equities and counterpart geographic benchmarks normalized from Dec. 14, 2012, just before Abe led an election victory, through Aug. 18. Goldman Sachs’s new Japan defense measure of 20 companies was the biggest gainer at 72 percent, with the Topix index next at 60 percent. In each pairing, the aerospace-military group beat the broader index, which also included the Standard & Poor’s 500 and FTSE Eurotop 100.