About the Bank. Monetary Policy. Financial System. Payments and Markets. For example, Uniqlo owner Fast Retailing had the largest weighting in the Nikkei index, but that was primarily due to its high share price after avoiding any stock splits since April Toyota Motor , which has the highest market capitalization of any stock in Japan, was only 15th by weight in the index. Citigroup also advised shifts in allocations to Japan stocks based on the BOJ's purchase shift, adding that it expected the central bank would need to gradually pivot even further toward the Topix and away from the Nikkei.
There would likely be a performance reversal for sectors overweighted and underweighted in the Nikkei index, Citigroup said in a note Wednesday. In a previous note, Citigroup had highlighted that sectors with higher weightings in the Nikkei than in the Topix included retail, electronic equipment, information and communications, pharmaceuticals and chemicals, while those with lower weightings included banking, transportation equipment, land transportation and electric power.
In addition to the sector swing, there's another reason to expect bank shares to continue to rally. Critics had noted that the BOJ's historical bond-buying efforts had flattened the government bond yield curve. Get the Insider App. Click here to learn more. A leading-edge research firm focused on digital transformation. Good Subscriber Account active since Shortcuts. Account icon An icon in the shape of a person's head and shoulders. It often indicates a user profile. Log out.
US Markets Loading H M S In the news. Markets Contributors. Toru Fujioka, Masahiro Hidaka , Bloomberg. Sign up for notifications from Insider! Stay up to date with what you want to know.
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