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Markets

Tokyo Stock Exchange reshuffle's winners aren't all on Prime market

Shares choosing second-tier Standard market gain 3% from August

Critics of the Tokyo Stock Exchange say its new top tier should be more selective. (Photo by Shunsuke Inaba)

TOKYO -- The revamped Tokyo Stock Exchange's new big board may look much like the old one. But a deeper analysis shows how investors are trying to pick winners out of the Japanese stock market's biggest shake-up in six decades.

The TSE on Monday debuted the Prime, Standard and Growth markets, replacing its first and second sections as well as the Jasdaq and Mothers markets in an overhaul meant to create a more exclusive top tier.

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