JAPAN - The Japanese equity market is showing signs of economic recovery after outperforming its global peers last month, according to one fund manager.
Gartmore Investment Managers says economists are predicting positive growth for Japan’s first quarter GDP (Gross Domestic Product) due to a recovery in industrial production and exports.
Gartmore Japan Focus fund manager Nick Reid said hopes for the Japanese banking sector – which has been ridden with bad-debts – have also become more positive.
He explained: “The rising equity market could lead to a virtuous circle, as it boosts the value of the banks’ equity holdings and therefore, their share prices which in turn provide more support to the equity market.”
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