HONG KONG : Global investors are turning bearish on once-favoured Japanese stocks following last week's turbulence as they reassess economic prospects and the viability of yen-funded trades.Using cheap yen to buy stocks on the Nikkei was a hot trade until this month.
FILE PHOTO: A man stands next to an electronic stock quotation board inside a building in Tokyo, Japan August 2, 2024. REUTERS/Issei Kato/File PhotoHONG KONG : Global investors are turning bearish on once-favoured Japanese stocks following last week's turbulence as they reassess economic prospects and the viability of yen-funded trades.
The CSOP Nikkei 225 Daily Double Inverse exchange-traded fund - the only ETF outside Japan that allows bearish bets against the Nikkei index - saw a surge in its trading volume during the week ended Aug. 9. The firm's multi-asset funds had turned underweight Japanese equities before last week, he said, adding they maintained that weighting after the volatile week.
The yen has surged from around 162 per dollar in mid-July to roughly 142 per dollar last Monday, its strongest level in seven months.
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