January stock prices edged lower after surging in the middle of the month. CG Top 20 stocks underperformed against Topix and JPX400 during the 1-month period
The stock market opened higher in January on the back of the stocks rally at the end of the previous month. After that, the market surged on the expectation of solid corporate profits and the observation of continued global monetary easing, but closed sharply lower due to the increased volatility and sharp decline in the US stocks at the end of the month.
CG Top 20 underperformed against both Topix and JPX400 for the month. CG Top 20 slid 0.89%, while Topix and JPX400 rose 0.29% and 0.49% respectively. The cumulative performance of CG Top 20 keeps significant outperformance as shown in the chart below.
Please see detail in the following link.
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Aki Matsumoto, CFA