Japan stocks volatile in near-term, but long-term outlook bullish-Citi

Investing.com-- Japanese stocks are expected to see some instability in the next month, but are primed for a bullish long-term outlook, Citi said in a note, citing strong earnings and improving economic conditions.

But the brokerage flagged improved fundamentals on a “micro and macro basis.” Japanese earnings showed growth in the April-June quarter despite volatility in foreign exchange markets, specifically the yen.Resilience in earnings presents the possibility of Japanese companies hiking their outlook with the release of interim results in October. Signs of improved personal consumption also presented stronger domestic demand.

“We think maintenance of a bullish stance on Japan equities is appropriate on a view of around six to twelve months even if instability persists in the near term,” Citi analysts wrote in a note.

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