State of Play. 29 June 2023
Return of the rising sun
In 1989, the Japanese Stock Market hit an all-time high following an asset price boom triggered by loose monetary policy. Faced with an overheating economy, policymakers began to raise interest rates, bursting the bubble, and the aftermath lasted far longer than anybody could have imagined. However, this year, share prices in Japan have made a remarkable recovery, prompting many investors to question whether this is the return of the rising sun or just investor speculation?
Santander Asset Management UK’s Senior Investment Specialist, Simon Durling, shares his thoughts in this week’s State of Play.