Japan’s 2022 Stock Losses Limited by Defense, Reopening Bets
- Defense contractor Mitsubishi Heavy up 102%, top Nikkei gainer
- Bank stock gains have accelerated after BOJ’s policy move
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Gains in defense and reopening stocks countered losses in technology shares to help the Japanese equity market stave off the steep declines seen in global peers this year.
With a sharp weakening of the yen from March into October also boosting the nation’s stocks, the benchmark Topix is only down about 4% in 2022. That’s less than a quarter the losses in the S&P 500 Index and MSCI World Index.