Japanese stocks are expected to rise next year to reach levels not seen in nearly three decades, a Reuters poll found, based on expectations the beaten-down global manufacturing sector will once again gather steam. The median estimate by 26 analysts and fund managers polled Nov. 11-25 put the Nikkei benchmark up 7.3% at 25,000 by end-2020, compared with Monday’s close of 23,292. “Starting with the silicon cycle, the global economic cycle is starting to look up, and Japanese EPS (earnings per share) will start to rise,” said Hiroshi Watanabe, economist at Sony Financial Holdings, referring to the highly volatile economic cycle in the semi-conductor sector.
