Eoin Treacy's view Here is the monthly list of 99 global indices ranked in descending order by dividend yield , then in ascending order by P/E, Price / Book and Price / Cash Flow.

The Topix 2nd Section Index of smaller cap shares is often a leader for the wider Japanese market. The Index was a clear outperformer from the 2002 lows and had hit new all-time highs by November 2005 as it accelerated higher. The subsequent drop erased the entire advance and prices began to build support near 2000 from early 2009. The Index held a progression of higher reaction lows within its base until 2012 when it broke out and continues to extend its advance.

The Index has a dividend yield of 1.25% and a Price / Book of 0.8. The P/E of 19 is growth oriented as the devaluation of the Yen is likely to be powerful tailwind to consolidated earnings of exporters. Considering the fact that despite the rally to date the Index is still trading below book value there is still potential for an addition rerating for the sector.

Please note: All data quoted above originates in Bloomberg. We realise that some of the data displayed is inaccurate for some indices, particularly where ADRs are included. However, I have endeavoured to remove those indices which were most problematic. We continue to publish these tables because the data is generally accurate and going forward we will continue to weed-out the less reliable data sets as subscribers highlight them for us. The P/Es quoted by Bloomberg are exclusively based on operating earnings.)