Property shares rose sharply on Wednesday, leading to a moderate rise in Japan’s main stock indices. Financial Times
The real estate sector leapt up 3.3%, boosted by strong earnings forecasts from Tokyu Land Corp.
Other property stocks also rose, following several days of weakness on fears of overvaluation. Japan’s biggest property company, Mitsui Fudosan, finished up 3.3% at Y3,450, while its largest rival, Mitsubishi Estate, rose 3.3% to Y3,720. Sumitomo Realty & Development also rose 4.8% to Y4,410.