President Joe Biden is scheduled to attend the G7 summit in Hiroshima, Japan, which starts on the 19th of May. The issues to be discussed will include Russia's aggression against Ukraine as well as strengthening cooperation on the "Free and Open Indo-Pacific."
I decided to take a quick look at some of the stock indexes in Japan and found that the broad Topix Index was at a multi-year high.
In this weekly line or close only chart of TOPIX, below, I can see that prices are at a 10-year high.
How might I get exposure to the Topix Index? I found one idea: The iShares Core TOPIX exchange-traded fund (TSE ticker: 1475) seeks investment results that correspond generally to the performance of the Tokyo Stock Price Index (TOPIX). This ETF trades on the Tokyo Stock Exchange (TSE) and should give you exposure to large, mid and small cap Japanese stocks.
Let's look at some other charts.
In this daily bar chart of the TOPIX ETF, below, I can see that prices have staged a strong rally since late September. Prices are above the rising 50-day moving average line and the rising 200-day line. The daily On-Balance-Volume (OBV) line is steady and the Moving Average Convergence Divergence (MACD) oscillator is strong and rising.
In this weekly Japanese candlestick chart of the TOPIX ETF, below, I can see an upside breakout from a large continuation pattern. Prices are above the rising 40-week moving average line. The weekly OBV line and the MACD oscillator are bullish.
Bottom line strategy: I understand that Japan is 14-time zones away and that your brokerage account may or may not allow you to purchase this security. Maybe there is a mutual fund that can accomplish the same thing?
