Hot stock pick Astro Japan Property
With much of the world focusing on the saga that continues to play out in Greece, the recovery story in the Japanese stockmarket and economy has remained fairly steady. The Nikkei remains not far off an 181/2-year high, while the recent quarterly Tankan economic survey from the Bank of Japan was encouraging, with business sentiment rising.
An improving economy also bodes well for the Japanese property markets, with Astro Japan Property (ASX:AJA) remaining one of our favoured plays here. The trust has been performing well with earnings, cash flows and ultimately dividends benefiting from higher property valuations, profits on the sale of assets, lower debt and better financing terms.
Disclosure: Astro Japan Property is held in the Fat Prophets Australian share income and small and mid-cap models.