0257 GMT - Goldman Sachs reiterates its "relatively cautious and defensive near-term" stance on Japanese equities, three members of its Japan strategy team say in a note. GS sees the positive effects of improving shareholder returns being mostly offset by risk factors including near-term political uncertainty in Japan likely caused by Sunday's election outcome. GS reiterates its end-2024 target for the Topix index of 2700 and maintains its "positive medium-term view on EPS growth outlook." GS forecasts Topix EPS growth at 10% in FY 2024, 6% in FY 2025 and 7% in FY 2026. The index is up 0.8% at 2679.32. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
October 28, 2024 22:57 ET (02:57 GMT)
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