Reopening plays led gains in Japan’s equities market this year, while 2020’s pandemic winners like health care and stay-at-home stocks dropped to the bottom.
Shipping stocks topped advancers on the Nikkei 225 Stock Average, and commodities-related groups were among the best performers on the Topix. Drug and video-game makers tumbled meanwhile, and market titans SoftBank Group Corp. and Fast Retailing Co. also ranked among notable decliners.
Looking ahead to 2022, JP Morgan is bullish on automakers, saying their earnings should recover as supply-chain problems fade. The broker also likes real estate on a boost from rising domestic inflation, while it sees a capital expenditure recovery benefiting machinery and IT services, strategists including Ryota Sakagami wrote in a Nov. 30 report.
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