After Japan’s Topix index posted its longest winning run in almost five years, analysts are sticking to their views on where the gauge will be by year-end.
The benchmark equity measure will rise 14 percent to 1,400 by the end of 2014, according to the median forecast in a Bloomberg News survey of 12 strategists and investors this month, the same level as in a similar poll in May. Nomura Holdings Inc. and Daiwa Securities Group Inc., Japan’s two largest brokerages, kept their predictions at 1,500 and 1,400 respectively, while Mizuho Securities Co. cut its target to 1,400 from 1,450.
The Topix fell today after gaining 7.3 percent in a 10-day advance through yesterday, its longest since a stretch that ended in August 2009. The gauge is still down 5.3 percent for the year, the worst performance among 24 major developed markets tracked by Bloomberg.
Analysts expect the Nikkei 225 Stock Average to climb 14 percent to 17,150 by year-end. The Nikkei 225 rose 0.1 percent to 15,079.37 today, while the Topix slipped 0.1 percent to 1,232.75.