Japan’s Nikkei seen rallying 6% to key 30,000 level by mid-2023

Japan’s Nikkei 225 share average will rally to the psychological 30,000 level by the middle of next year for the first time since September 2021, according to analysts in a Reuters poll.

The median estimate of 11 analysts polled Nov. 14-28 was for the Nikkei to be at 30,000 at end-June, although that represents a medium-term plateau, with the poll putting it at that level at the end of next year as well. T&D Asset Management gives a representative view, with forecasts for the Nikkei to reach 30,500 in June before rising to 30,700 in December, and then 31,000 by mid-2024.

There was a split over the outlook for Japanese firms’ financial results over the next six months though, with four analysts expecting an improvement and three predicting a deterioration.

Source: News Formal (newsformal.com)

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