Chen Guo: An important turning point for Japanese stocks to achieve a long-term bull market after 2012 is the direct support of the stock market by the Bank of Japan

On December 21st, at the "Alpha Summit" jointly held by Wall Street Insights and the China Europe International Business School, Chen Guo, Chief Strategist and Managing Director of CITIC Securities, stated that compared to the bull market from 1992 to 1994, the Japanese bull market after 2012 has lasted longer and has been more significant, with the technology sector playing a more dominant role in its structure. Although Japan also had loose monetary and fiscal policies from 1992 to 1994, a significant change in the long bull market of Japanese stocks after 2012 compared to the 1992-1994 period is that the Bank of Japan directly entered the market to purchase the Nikkei 225 ETF, supporting the long bull market in the stock market