Japan's Stock Market Reaches 33-Year High Amid Foreign Investor Interest.
Japan's Topix Index has reached its highest point since August 1990, indicating that foreign investors are back. The broad-based index has outperformed its regional peers in the Asia-Pacific, gaining more than 6% year-to-date. Societe Generale's Asia equity strategists noted that foreign investors bought a net 2.1 trillion yen ($15.4 billion) worth of Japanese stocks in April, and Japan's corporate sector remains the largest net buyer of Japanese stocks. Goldman Sachs sees several reasons to support its bullish stance on Japanese stocks, including solid fundamentals compared with stocks on overseas markets and expectations for structural changes/reforms.