Despite Japanese stocks outperforming European stocks by 7% YTD and 14% over the last year, the investment community has continued to basically ignore Japan in the commentary we read. But, for those who have been overweight Japan it has been a good ride. The MSCI Japan is up over 9% YTD and 5% over the last year which places it near the top of the pack in terms of performance (charts 1 & 2). Further, the average stock in Japan is up over 15% YTD (table 1) and 10% over the last year (table 2). The US is the only major market to have outperformed Japan on an equal weighted basis over the last year.
YTD USD Performance MSCI Japan and MSCI Europe:
1-Year USD Performance MSCI Japan and MSCI Europe:
YTD USD Performance by DM Country:
1-Year USD Performance by DM Country:
