Japan: Time for another look? [Quarterly Perspectives]Contributor Global Markets Insights Strategy Team
The most obvious attraction of the Japanese stock market is also the most longstanding: it looks cheap. Even though the Nikkei 225 has risen by 180% since March 2009, it remains one of the only developed markets still trading below its 10-year average. It currently has a forward price-to-earnings ratio of around 15, compared with a long-term average of just over 19.
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