Leroy Groffier(@LeroyGroffier):QUANTS--WE ARE IN A KOIZUMI TYPE RALLY: Nikko quants differentiate current Japan rally from dotcom rally, pointing to concomitant strength in Topix (bank-heavy) and momentum (growth names) in current (7/25-present) and Koizumi ('05-'06) rallies. Earnings-driven rallies are characterized by shallower drawdowns whereas multiple-expansion driven rallies have historically collapsed more rapidly and unpredictably.

2026.06.18 11:04

QUANTS--WE ARE IN A KOIZUMI TYPE RALLY: Nikko quants differentiate current Japan rally from dotcom rally, pointing to concomitant strength in Topix (bank-heavy) and momentum (growth names) in current (7/25-present) and Koizumi ('05-'06) rallies. Earnings-driven rallies are characterized by shallower drawdowns whereas multiple-expansion driven rallies have historically collapsed more rapidly and unpredictably.