Japan's Record Buybacks Spur Hopes For Continued Rally

By Yasutaka Tamura, Bloomberg markets live reporter and strategist

Japan’s record buybacks are keeping alive hopes that Tokyo’s stock market will finish the year strong as companies take advantage of the current earnings season to announce profit-sharing plans with investors.

Domestic companies have bought a record ¥6 trillion ($38.8 billion) of their own shares this year as of Nov. 8, exceeding ¥4.9 trillion of purchases in 2023, according to data from bourse operator Japan Exchange Group Inc. They are on track to be the largest buyers of domestic stocks this year.