Japan’s main stock index, the Nikkei, has been on a surge since last autumn.
But if you want to see action, check this out.
Japan’s small-cap index is called the MOTHERS index, and SocGen points out in a note today that it’s going bananas. Small-caps, of course, surge when there’s a lot of risk-taking and speculative fever.
In Japan the Nikkei 225 was essentially flat after the much anticipated announcement from the BOJ proved a bit of a damp squib. However the Mothers index of small cap companies continued to fly. Indeed despite this index being up 12.6% last week and having gained 80% since May last year. Japanese small caps are booming, yet no one really seems to have noticed.
Check out this insane parabolic move just since the beginning of the year (via Bloomberg):