Japan’s Market Revival — Risk-On Mood, Strong Dollar, and Gold on the Rise｜2025/5/10

On May 10, 2025, the Nikkei settled in the 37,500 yen range for the May SQ, possibly marking a turning point as Japanese equities begin to regain attention from global investors.The Nikkei Volatility Index has declined, while Trump’s new tariffs appear to be driving a stronger dollar. Gold remains elevated, showing signs it may enter another upward phase.Meanwhile, the Nikkei’s PER has surged, but EPS forecasts may be overly conservative—leaving room for positive surprises in corporate earnings.With the G7 summit and Japan’s upper house election approaching, this is a market environment where it's hard to make aggressive moves.Is this truly the beginning of a "Japanese stock market revival"?＿＿＿Free Weekly NewsletterSign up here：（⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://subscribepage.io/ni225op⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠）