It's All Over for Japan (and That's Good)

With the end of the third quarter, the Olympics, the leadership of Prime Minister Suga, and the delta surge in COVID-19 cases have also ended. This has led to a new beginning for Japan with the country’s stock market becoming the best performing in the world during September. Hitting new 30-year highs, the Nikkei 225 Index posted a gain of 9.4% over the past month (since August 27), even as the U.S.’s S&P 500 and Europe’s STOXX 600 Index both posted small losses. We believe Japan’s momentum may continue in the months ahead.