July 25, 2014 3:42 pm JST

Citi tips Nikkei at 16600 by year-end

TOKYO (Dow Jones) -- The Nikkei is likely to rise to 16600 by the year end, as the BOJ is expected to ease again in November, ahead of the government's decision on another round of a sales tax hike and as the Government Pension Investment Fund is likely to start shifting more money toward domestic stocks around the same time, says Tsutomu Fujita, vice chairman of Citigroup Global Markets Japan.