Japanese stock prices will likely remain well below pre-coronavirus pandemic peaks until at least the end of next year, a Reuters poll showed on Thursday.
FILE PHOTO: A passerby wearing a protective face mask, following an outbreak of the coronavirus, walks past an electronic board showing the graphs of the recent movements of Japan's Nikkei share average outside a brokerage in Tokyo, Japan March 6, 2020. REUTERS/Issei Kato.N225That would be 2.0% below the index’s Wednesday close of 21,419.23 and almost 15% below a February Reuters poll that forecast the year-end index at 24,650.
Uncertainty generated by the pandemic resulted in a wide range of 2020 end-year forecasts, from 16,000 to 28,000. The Nikkei has been recovering after a more than 32% slide from a peak in January to as low as 16,358 in March, a trough last seen in November 2016. Hisashi Iwama, senior portfolio manager at Asset Management One, said he could not rule out the Nikkei testing its March low.
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