Two countries, India and Japan, dominated the conversation at the recent 3000-people strong HSBC Annual Global Investor Summit in Hongkong. This blog focuses on Japan, where following decades of stagnation, Tokyo's benchmark Nikkei 225 broke past its 1989 peak on 22 February 2024. While stable macro-economic, favorable geopolitical conditions and leaner balance sheets have energized its equity markets, governance reforms have had an equally important role to play.

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