Personally I think market expectations have been a little too high.
I think that investors are very much in a wait-and-see mood at the moment ... with the Bank of Japan's policy meeting today and tomorrow.
We don't have to take deterioration (in the government survey) for the current quarter so seriously.
There are cases of stocks being bought after beating market forecasts, but most companies that don't meet these inflated expectations are being sold.
Right now, the market is showing a positive reaction to yesterday's earnings results. But investors are also in something of a wait-and-see mood, as we have earnings from industrial electronics firms tomorrow.
Right now the market is showing a positive reaction to yesterday's earnings results.
Right now, U.S. stocks are at multi-year highs, so I get the feeling that global money is starting to move away from Japan and into the United States.
But with the start of the new fiscal year, domestic institutional investors are likely to do some buying.