Japanese shares roses and the booming luxury sales indicate Japan has emerged from its third recession
since December, both indicate that the country’s economy is hobbling out of the crises ended in 2009.
The strong performance of Japan stock market is partly boosted by Wall Street’s record close and a weaker yen. The dollar rose to 118.66 yen, decreasing after a small jump to 119.09 yen.
Meanwhile, luxury market has been rising since Prime Minister Shinzo Abe launched his economy policy in end of 2012. In 2014, more than 333 billion yen worth of luxury goods have been sold. Imported products sales have been marching upwards.
According to the Japan Automobile Importers Association, foreign-brand cars worth more than 10 million yen were sold in 2014, a significant jump, equals to 63 percent, compared to sales in 2012.
The improved Japan economy also has an impact on Asian stock market.
However, it is too early to draw a conclusion. “The January to March quarter will be important because we are beginning to see some positive developments, such as production returning to Japan, but we would like to see that reflected in the data.” Said Akio Kato, the Tokyo-based general manager of the trading department of Kokusai Asset Management Co.