A man looks at an electric board displaying the Nikkei stock average outside a brokerage in Tokyo, Japan June 14, 2023.
The median forecast for the Nikkei's level in mid-2024 was 35,000, with responses ranging from 31,143 to 39,500, the Reuters poll of 10 stocks strategists taken Nov. 10-20 showed.
Japan's equity benchmark started this week by pushing to its highest level since March 1990 at 33,853.46 following a three-week winning streak.
That would mean some stagnation for equities in the latter half of next year, with the Nikkei still stuck at 35,000 at year-end, according to the median poll response.
"35,000 looks to be about the level where Nikkei gains line up with the timing of the BOJ getting rid of negative interest rate policy," Sycamore said.
Persons:
Kim Kyung, Masayuki Kichikawa, IG's, Tony Sycamore, Sycamore, Kevin Buckland, Junko Fujita, Noriyuki, Rahul Trivedi, Pranoy, Alex Richardson
Organizations:
Nikkei, REUTERS, Rights, Bank of Japan, Federal, Sumitomo Mitsui DS Asset Management, Thomson
Locations:
Tokyo, Japan, IG's Sydney