Geffen: No false dawn for Japan as equities set to re-rate


Neptune CEO Robin Geffen is buying into the Japanese recovery led by Shinzo Abe, dismissing comparisons to earlier efforts to revitalise the country.

Since coming to power late last year, Abe has unleashed a policy of aggressive fiscal and monetary stimulus that has seen the Nikkei rise 50% year-to-date and push the Japanese economy towards meaningful inflation for the first time in a generation. But while investors point to the uncertainty of Abe's ‘third arrow' expected early next year - which includes a planned rise in the country's unpopular consumption tax - Geffen (pictured) said the country will not sink back into a bear market. "For anyone who has been investing in the market since '89 there have been a lot of false dawns,"...

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