Recession-hit Japan still holding out for recovery

While the new economy sectors of Japan are still being hurt, old economy areas are driving the market into positive returns. For the year to 28 June the Topix index is up 0.27% in yen terms. The best performers in the index are those companies in the resource area of the market, with the oil and coal sector leading the way with returns of more than 34% since the start of the year, according to statistics from Bloomberg. Other sectors among the top 10 performers in the Topix include mining, fish and farming and electricity and gas. The Scottish Widows Japanese Growth Unit Trust and the...