Goldman, Morgan Stanley Say It’s Time to Jump Into Japan Stocks
- Goldman, Morgan Stanley predict Topix gains of more than 10%
- High vaccination rates also cited as another positive factor
This article is for subscribers only.
Japanese equities are primed to close the gap to global peers in 2022, analysts and strategists say, with the country’s cheap valuations, low inflation and high vaccination rates set to make up for a disappointing 2021.
Goldman Sachs Group Inc. and Morgan Stanley have 12-month targets of 2,250 for the benchmark Topix index, implying a gain of 12% from Thursday’s close, while UBS SuMi Trust Wealth Management sees it hitting that level by June. In a boon for the country’s many exporters, the yen is seen worsening its drop against the dollar after the Federal Reserve’s abrupt policy pivot this week.