Economics
Japan's Best Stock Forecaster Sees Stability in Wake of Slump
- Pinebridge's Maeno expects modest growth for Topix in 2016
- BOJ decision helps economy as yen, oil pressures seen easing
Employees work on the trading floor of the Tokyo Stock Exchange in Tokyo, Japan.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
Last year’s best forecaster for the Topix index is looking past the carnage that has plunged Japanese stocks into a bear market, predicting a return of stability paving the way for modest growth in equities.
Tatsushi Maeno, head of Japanese equities at Pinebridge Investments Japan Co. in Tokyo, expects the Topix to end the year at 1,600 and the Nikkei 225 Stock Average to finish at 20,000. While he’s lowered year-end targets after both gauges fell more than 20 percent from their peaks, his forecasts still represent a gain of at least 9 percent from current levels.