Nikkei to its highest in 15 years after impressive numbers – HegnarOnline

Thursday offers stock recovery in Asia.

In Tokyo Nikkei ended at 18,264.79, after rising 0.36 percent. The index has not stopped higher in 15 years.

The broader Topix index rose 0.83 percent to 1494.63.

– Investors buy Japanese stocks by fundamental reasons. The economy is out of recession, wages seem to rise and growth in corporate earnings looks strong, says technical chief strategist Yutaka Miura Mizuho Securities to Bloomberg.

He believes Nikkei will test levels 19500-20000 around May.

However, it is important to remind that it is far from all-time high for the Nikkei. It is at 39,815 and was set on 29 December 1989.

Exports took off
Thursday’s upturn in Japan comes after the trade deficit was halved in January. Exports rose impressive 17 percent, the biggest jump since late 2013.

The consensus stood at 11.9 per cent rise in exports.

– The upturn in the United States, combined with a weaker yen, provides support to export growth, wrote Moody’s Analytics according CNBC in a note before the numbers.

Otherwise in Asia rises Hang Seng in Hong Kong 0.2 percent, while large-cap index CSI 300 Shanghai advances 0.7 percent.

Seoul Stock Exchange advances 0.2 percent, while Sydney Stock Exchange is among the exceptions and fall 0.2 percent.