JAPAN-Nikkei-Time to go back up? Message Board

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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up?

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From: Julius Wong	8/9/2009 11:58:44 PM
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Nomura Raises Forecast for Nikkei 225 to 11,500 by October By Patrick Rial and Toshiro Hasegawa Aug. 10 (Bloomberg) -- Nomura Holdings Inc., Japan’s largest brokerage, raised its forecast for the Nikkei 225 Stock Average as companies cut costs to boost profitability and the U.S. housing market bottoms out. The gauge may climb as much as 10 percent to 11,500 by the end of October, strategists at Nomura said in a research report dated Aug. 7. They previously estimated the measure would rise to 11,000. The Nikkei closed at 10,412.09 on Aug. 7. “We were surprised by the unexpectedly strong profits generated in the first-quarter due to cost cuts,” the strategists said. Should U.S. housing prices stabilize it will underpin gains in the stock market and support consumer spending, they said. The rally will be followed by a mild “correction.” Nomura recommended investors take an “overweight” stance on automakers and financial companies, meaning investors should own more of those shares than their representation in the index. They recommend being “underweight” in utilities. bloomberg.com

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