"A certain amount of money is flowing into Japanese stocks because they are relatively undervalued in terms of price-book ratios among global markets"
- Kazuyuki Terao, chief investment officer of RCM Japan Co.
Japanese stocks edged higher on Wednesday, led by Nippon Airways and Mitsui O.S.K. Lines Ltd. The Nikkei 225 rose 0.08%, or 7.28 points, to 8,809.79, while the broader Topix advanced 0.36%, or 2.69, to 757.96.
"Earnings aren't looking that bad," said Hisakazu Amano, a fund manager at T&D Asset Management Co. in Tokyo. "Investors aren't buying across the board, but they're picking companies that have specific strengths and that's buoying the market."
"A certain amount of money is flowing into Japanese stocks because they are relatively undervalued in terms of price-book ratios among global markets," said Kazuyuki Terao, chief investment officer of RCM Japan Co. "Japanese company earnings in the current period aren't good as a whole, but they are likely to recover after April."
© Dukascopy Bank