TOKYO: Japanese shares rose on Monday and briefly touched a more than 30-year high on rising expectations for a rebound in corporate earnings and economic growth.
Shares of companies that have reported positive earnings rose, as investors continued to place bets on sectors that are expected to perform well as the global economy recovers from the coronavirus pandemic. "Stocks have risen so fast you could say they've broken the speed limit," said Ayako Sera, market strategist at Sumitomo Mitsui Trust Bank."Earnings growth has already been priced in for at least a year from now. There is reluctance to chase the upside from here, but stocks won't fall too much."
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