Japan’s Benchmark Topix Stock Index Is Heading for 1990 High

-- Japan’s Topix index is on course to regain its 34-year high as the equity benchmark finds support from financial stocks that benefit from higher interest rates, and as more companies take steps to improve shareholder returns.Bolivia’s President Arce Swears in New Army Chief After Coup Bid

The weaker yen has also helped exporters, though recent levels have raised concern the negative impact on import costs and consumer sentiment, and increase the prospect of official intervention to bolster the currency. Inflation expectations have risen to the highest since at least 2004 by one measure, adding to the case for the central bank to raise interest rates.

The move has been supported by the Tokyo Stock Exchange’s push to boost Japanese stocks’ appeal, taking steps including listing companies that have voluntarily released plans to improve capital efficiency. The exchange in June said it will widen the universe of stocks that are included in the Topix index while reducing the number of constituents. Analysts expect the reform, will place more emphasis on liquidity, and pressure companies to improve their governance.

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