Japan Shares Rally for Eighth Day as Topix Enters Bull Market
- Topix rises 21% from February low as yen continues to weaken
- Oil explorers lead gains amid increase in crude prices
Time to be Bullish on Japanese Equities?
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Japanese shares extended their longest winning streak since August 2015 and the Topix index entered a bull market as the yen touched the lowest against the dollar in almost seven months.
The Topix index rose for an eighth straight day at the trading close in Tokyo, after the yen fell further after slipping 0.7 percent against the dollar in New York on Friday. The measure is up 21 percent from its February low, joining the Nikkei 225 Stock Average after it entered a bull market on Friday. Escalating expectations for a swift rate tightening in the U.S. have bolstered the greenback since Donald Trump’s election win, pressuring the yen lower and lifting investor sentiment for Japanese equities.