41% of Japanese Stocks are In a Bear MarketApril 29, 2014
It’s no surprise that Japanese shares have been hammered lately. Japan is the worst performing major market so far in 2014 and the Nikkei is down about 10% from its recent high in USD terms. That, however, is not the entire story. When we categorize stocks into performance buckets (i.e. how many stocks are with 0-10% from their 1 year high, how many stocks are within 10-20% of their 1 year high, etc.) we find that 41% of Japanese stocks are more than 20% from their 1 year high. The next closest country is Hong Kong with 18% of it’s stocks in a bear market. It’s becoming apparent that the BOJ will think it has to do more to keep Japanese shares afloat.