TOKYO : Japan's Nikkei 225 share average will drop 4 per cent from 33-year highs, returning to the psychologically key 30,000 level by year-end and trading around the same level in mid-2024, according to the median estimates of analysts polled by Reuters.
Forecasts for year-end from 15 analysts in the survey ranged from 35,000 at the top end - a level not seen since February 1990 - to 26,000 at the bottom - where the Nikkei started 2023. There was little consensus over the Nikkei's path in the coming three months, with four analysts expecting narrow range-bound trading, two favouring rallies of 10 per cent or more, and two seeing a 10 per cent correction as the most likely outcome.
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