Фондовые индексы: рынок Японии и его перспективы

Stock indices: the Japanese market

After consideration the stock indices of the US, the euro area and the UK, it is worth discussing the stock indices of Japan.

Japan’s stock markets are the main areas of the Asia-Pacific region in importance and capitalization. The stock indexes of the Tokyo Stock Exchange are the Nikkei 225 and TOPIX indices.

The main stock index of the Tokyo Stock Exchange is Nikkei 225, which includes 225 of the largest blue chip companies. This index represents 225 companies with the highest liquidity. There is also the Nikkei 500 index, which includes 500 companies of the first magnitude, but it is much less popular and is a derivative of the Nikkei 225 index.


Nikkei 225 chart

 

The second significant stock index of the Tokyo Stock Exchange is TOPIX. This index is calculated on the basis of market capitalization, which is revised twice a year. Also on the basis of this index subindexes are calculated: TOPIX 100, TOPIX 500, TOPIX 1000. The approximate number of companies that have a capitalization of 4.2 trillion USD is 1800.

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TOPIX index chart

Correlation of Japanese indices

Like most traded indices on the same stock exchange, Japan’s indices also have a very high degree of correlation, thereby reflecting the general dynamics of shares on the Tokyo Stock Exchange.

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TOPIX index (blue line) and Nikkei 225 (red line) chart

 

The correlation of the Nikkei 225 stock index and the pair USD/JPY is direct, which makes it possible to analyze this currency pair more correct.


Nikkei 225 and USD/JPY (blue line) chart

 

The indicies of the Tokyo Stock Exchange due to it very significant capitalization, remain the basic indices of the Asia-Pacific region, which can set the mood for stock markets for the whole day and for the stock exchanges in the European region. Also, because of their importance, they have a direct impact on the dynamics of stock indices in Australia and New Zealand due to the geopolitical and trade features of these markets.

Anton Hanzenko

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