JPMorgan shares outlook for Japanese stocks after Monday selloff
Japanese stocks saw a significant rebound on August 6, recovering 9% after a sharp selloff the previous day, which was worse than Black Monday, JPMorgan analysts highlighted in their note Wednesday.
Despite this rebound, JPMorgan says the market remains volatile following a sharp drop in early August that wiped out all year-to-date gains. The significant sell-off, prospects for the end of deflation, progress on corporate reforms, and positive wage growth are said to underpin these support levels."Even if a recession develops, we do not expect Japanese stocks, which have already sold off more than US stocks, to be under much downward pressure," JPMorgan stated.
For investment, JPMorgan focuses on sectors resilient to JPY appreciation, with a domestic focus, defensiveness, and strong shareholder returns. They remain Overweight on industrial electronics, IT services, financials, and consumer-related sectors. Key investment themes for post-volatility include cutting-edge technology, digital transformation, renewable energy, aerospace and defense, and friendshoring.
France Dernières Nouvelles, France Actualités
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