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Japan

Tokyo bedst i juni

Både japanske aktier og renter steg kraftigt gennem juni. Men optimister, der tror på mere fart i reform-processen, hæfter sig endnu ved, at markedet i Japan endnu er tæt på sit laveste i 20 år

Jonas Lindmark 03/07/2003
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Markedet i Tokyo har været det klart bedst performende i af de store markeder i juni, og i de første par dage af juli er fremgangen fortsat med Nikkei-indekset nu over 9500 – det højeste niveau siden september sidste år.

I Juni steg MSCI Japan med 7,4 pct. Målt i dollar, mens de globale aktier generelt blot gik op med 1,6 pct. Oven i dette steg dollaren over for euroen i juni, så for en typisk europæisk investor – også en dansk – betød det en fremgang på 11 pct.

Samtidig steg renterne på statsudstedte japanske obligationer kraftigt. Det tolkes af mange som en forventning i markedet om, at regeringen og myndighederne vil implementere effektive tiltag mod den sejlivede deflation i landet. Der er dog endnu langt op til de rente-niveauer, som tilbydes i USA og i Europa, markedet i Tokyo er endnu tæt sit laveste i 20 år, som det nåede i april i år.

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Om forfatteren

Jonas Lindmark

Jonas Lindmark  has been editor and head of fund analysis at Morningstar Sweden since August 2000. Before that he was personal finance editor and designed fund ratings during 9 years at the weekly business magazine Affärsvärlden.

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