20
Nov
Nikkei benefits from better than expected corporate results
Stronger GDP recovery (+5.2%) in Q3. Overall contraction of -5.3% in 2020. Expansionary monetary policy until 2023. Corporate earnings 30% higher than expected. Nikkei at highest level since 1991.
Key Points
- Third Covid-19 wave hits Japan, threatening economic momentum
- Economic recovery turns out to be stronger than expected in Q3
- Leading indicators continue to waver
- Clear recovery in industrial production and capacity utilisation
- Japan once again in deflation
- Weak yen remains essential
- Ultra-accommodative monetary policy
- Nikkei boosted by surprising results
- Corporate results 30% higher than analysts’ expectations
