A man walks past an electronic board displaying Japan’s 10-year government bonds level, the current Japanese Yen exchange rate against the U.S. dollar and Nikkei share average, outside a brokerage in Tokyo, Japan, October 31, 2023. REUTERS/Kim Kyung-Hoon Acquire Licensing Rights
A look at the day ahead in European and global markets from Monday.
It’s been a mixed start for most of Asia in this holiday-truncated week, though Japanese shares extended their bull streak to hit highs not seen since 1990.
The Nikkei is up more than 8% so far this month, and almost 29% for the year so far. The broader Topix is up 26% on the year but still only trades at a price to earnings ratio of 14. That compares to 23 for the S&P 500 and almost 29 for the Nasdaq.
The entire market capitalisation of the Topix is 454 trillion yen ($3.03 trillion), yet Japanese companies held 555 trillion yen in internal…
