SPARX remains bullish on Japan
February 22, 2010
Shuhei Abe, founder of SPARX, believes that despite all of the gloom, there is still an upside to Japan's prospects in 2010 and further ahead
Founded in 1989, SPARX started out as an asset manager specialising
in Japan, but is now Asian focused with investment subsidiaries, Cosmo
and PMA, headquartered out of Seoul and Hong Kong respectively. The firm
has current assets under management of about $7 billion.
What outlook do you see for the Japanese markets at these levels?
SA: The Nikkei's historical peak was in 1989. By October 2008, the Nikkei was 82% down from that peak. The Japanese equity markets appear to have a full cycle that lasts for up to six years. A bull phase lasting three years is followed by a down cycle usually lasting a similar period of time. After the January 2006 peak, the market declined for three years with the pace of the decline speeding up after the collapse of Lehmans. The up-cycle since the bottom has been comparatively unexciting. Analysts...
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