Salient to Investors:

Kenji Shiomura at Daiwa Securities said US housing starts are welcome after several disappointing economic reports, and today’s market advance is bigger than expected and investors on the sidelines are definitely looking to buy on dips.

Ichiro Yamada at Fukoku Mutual Life Insurance said expectations for BOJ easing are still having an impact on the market, adding downward pressure to the yen, and long-term investment and short-term hedge funds seems to be flowing into Japan.

The Topix is at 17.2 times estimated earnings versus 14.2 for the S&P 500 and 12.5 for the Stoxx Europe 600.

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