Japan’s equity market has posted consecutive annual gains of over 20% in 2023 and 2024 in local currency terms. Year to date, the TOPIX has outperformed the S&P 500 by approximately 8% in dollar terms, supported by a 7.6% appreciation in the yen. For investors newly seeking international diversification, is it too late to buy into the Japanese upswing? Let’s take a look.

After years of trailing U.S. markets, international equities are quietly outperforming so far in 2025. What’s driving this resurgence, and what should you do about it?

After weeks of volatility, the fog of economic uncertainty is beginning to lift. The recent de-escalation in the U.S./China trade conflict marks a major turning point—not because tariffs are disappearing, but because policymakers are beginning to operate with greater clarity around the constraints they face. Here’s how that is likely to affect markets.

All eyes are on U.S./China relations this week, as new talks give hope for signs of de-escalation in the two countries’ trade war. While hopes for a comprehensive agreement remain low, even marginal progress could provide temporary relief to jittery markets. But China isn’t the U.S. markets’ only concern, just its largest and most obvious one—and that has potential implications for portfolio weightings.