Japan wealth down despite Abenomics: Credit Suisse

Japan may have received a major boost from Abenomics earlier this year, but it was the only Asian economy to suffer a drop in household wealth in the year to June 30. Household income in Japan fell by 20.5% from June 2012 through June 2013, due to 22% depreciation of the yen in the same period, finds Credit Suisse research. Excluding Japan, Asia-Pacific wealth rose by $3 trillion, hitting $51.3 trillion in the same 12-month period. Despite Japanese household wealth falling by …