"The economy is continuing to show signs of recovery, especially in domestic demand,†notes Naoki Kamiyama, chief investment officer at Amova Asset Management. "April–June 2025 corporate earnings were solid and GDP growth for the quarter exceeded an annualised 1%, showing that the impact of US tariffs has so far been limited. Perhaps the most important driver of the recent rally is expectations that domestic consumption will remain robust for the foreseeable future.†The point about rising domestic consumpt ...