Japan’s Markets Continue to Pierce Through 4.5 Year Highs

“Japanese shares gained for a second day, with the Topix Index (TPX) extending a 4 1/2-year high, as utilities climbed on optimism nuclear power plants may be restarted and Nippon Yusen KK and Osaka Gas (9532) Co. advanced on prospects for U.S. shale gas imports……

The Topix has risen 48 percent this year, outperforming all major equity indexes amid unprecedented easing from the Bank of Japan. The gauge traded at 1.3 times book value, compared with about 2.5 for the Standard & Poor’s 500 Index and 1.7 for the Stoxx Europe 600 Index……”

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