Boy, I’ll tell you what, Donald Trump’s “nation of Samurai warriors” came back from the break on a mission to buy some goddamn stocks.
Although this was to be expected (they’re effectively playing catch up), the Nikkei soared a truly incredible 3.3% on Thursday. That’s the best gain in more than a year and markets the best start to a year since 1996:
The Topix rose 2.6%, for its best annual start since 2013:
Just so we’re clear, we’re looking at a 26-year high on the Nikkei. And if Abenomics doesn’t work, well don’t tell equity investors:
That’s on the heels of (more) good econ. and amid ebullient global risk sentiment.
It’s “an exceptionally good start” to what should to be a good year for the Japanese stocks, Mirabaud Asia’s Andrew Clarke said, adding that “25,000 in Q1 should be easily attainable.”
Indeed. Throw in a little of Kuroda’s patented Tinker Bell dust and the fact that margined Japanese FX traders are sitting on a ¥3.2trn unrealized gain in Bitcoin, and you’ve got a recipe for … well, for more mania.
