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Japanese shares hit 1990 highs on strong earnings, offshore demand

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Japanese Shares,1990 Highs,Strong Earnings

Japanese shares hit highs not seen since 1990 on Monday as strong earnings and offshore demand fuelled a three-week winning streak. Japan's Nikkei was back to steady after finally breaking its September peak, and is up 8.8 per cent for the month so far with the Topix not far behind. Financial shares led the gains on Monday as investors prepare for an eventual end to negative rates, while auto makers have been benefiting from a weak yen and high exports. MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 per cent, having climbed 2.8 per cent last week to a two-month high. The Black Friday sales will test the pulse of the consumer-driven U.S. economy this week, while the Thanksgiving holiday will make for thin markets.

Japanese shares hit highs not seen since 1990 on Monday as strong earnings and offshore demand fuelled a three-week winning streak. Japan's Nikkei was back to steady after finally breaking its September peak, and is up 8.8 per cent for the month so far with the Topix not far behind. Financial shares led the gains on Monday as investors prepare for an eventual end to negative rates, while auto makers have been benefiting from a weak yen and high exports.

MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.1 per cent, having climbed 2.8 per cent last week to a two-month high. The Black Friday sales will test the pulse of the consumer-driven U.S. economy this week, while the Thanksgiving holiday will make for thin markets

 

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