Japan Autos Could Be Winners As Valuations Near Record Lows: Citi

The Japanese yen continued to rule weak against the dollar after last week’s solid GDP and jobs data out of the US, propelling stocks in the export-oriented country to solid gains. The Nikkei 225 index put on 2.29% to close at 15,650.21 today. This was its best one-day gain in three months. Year to date the index is up nearly 51%, and 2013 could be the best year for Japanese stocks since 1972. Japanese stocks: Too much, too soon? We looked for answers in a study of the outlook for Japanese stocks by analyst Kenji Abe included in the report…