TOKYO/SINGAPORE : As foreigners pile into Japan's steepest stock market rally in years, local investors have been furiously cashing out or even betting against what many see as the beginning of a long-overdue era of profitability and returns.The Nikkei share average's closed out its best month in 2-1/2 ye
TOKYO/SINGAPORE : As foreigners pile into Japan's steepest stock market rally in years, local investors have been furiously cashing out or even betting against what many see as the beginning of a long-overdue era of profitability and returns.
While foreign investors are excited about the prospect of a new era of growth in corporate Japan, domestic investors are eager to catch any profits they can, sticking to a strategy born out of decades of fleeting rallies. "Long-term investors also sold stocks because they were saddled with losses after the Nikkei made a range-bound move for a long time."
"After the bubble burst, foreigners turned to net buyers and it has been like that for 30 years," Kubota said.The benchmark Nikkei and the broader Topix have long frustrated local and overseas investors alike as companies focused on market share ahead of shareholder returns. Ohara said he would sell some of his stocks if the yen strengthened but was looking to add to his portfolio and expects Nikkei to rise further.Nomura's Next Funds Nikkei 225 Double Inverse Index ETF has been popular with individual Japanese speculators in the past and has been in demand this year.
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