China has overtaken Japan as the world’s second-largest stock market for the first time in three years, Japan Times reported. We’re not so sure if Abe will be as pleased.
This result has emerged on the back of increased investor confidence about the prospects of China’s economy, which is likely to be revived as monetary stimulus measures are being pumped up. Both Japan and China have been increasing economic stimulus efforts this year, with the yen weakening 10 percent against the dollar.
In 2010, China overtook Japan as the world’s second-largest economy. Its GDP last year was valued at USD9.2 trillion last year, which is about 89 percent more than Japan. Currently, the USA takes the top spot among rankings of world stock markets.