Japan: Net purchases continue for Toshin - Nomura
|Toshin momentum stayed relatively strong in October as Japanese investors bought foreign securities via toshins for the seventh month in a row, points out Yujiro Goto, Research Analyst at Nomura.
Key Quotes
“High-frequency data show their net purchases have continued so far in November. Strong domestic equity price performance may support retail investors’ risk appetite, though toshin companies were net sellers of domestic equities for the second month in a row. The outstanding of MRFs reached a new high, suggesting retail investors parked their money in liquid form after taking profits from domestic equities. The share of Indian assets in total foreign exposure via toshins continued to rise, while in the currency selection-type toshin market, TRY remained popular as of October.”
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