The emphasis isn't on companies' outlook for future growth. Rather, investors are picking stocks with low (price-to-earnings) ratios, or companies that averaged safe revenue growth over the last five years.
More Quotes from Akio Yoshino:
A possible slowdown in the U.S. economy is clear. Demand for overseas goods cannot be sustained at the current level.Akio Yoshino
Japan's economy demonstrates quite a healthy picture,
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The crude oil price is the U. S. economy's Achilles' heel as higher costs for gas and engine oil directly affect consumers. A possible rise in borrowing costs in Japan may curb demand for loans and is a blow to bank stocks.
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There is a growing view that insurers have had their run for the short term, ... Money is shifting to the laggards of the markets now, such as the technology companies.
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Investors are awaiting the outcome of the central bank's policy-setting meeting tomorrow. Caution before the Bank of Japan verdict appeared to keep market participants at bay.
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Earnings growth may also slow for technology companies in the region.
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