Cautiously playing Japan's surging stock market

Cautiously playing Japan's surging stock market

News On Japan via Reuters -- Jan 12

Institutional investors have been increasing their holdings in Japan's surging stock market, yet investors may want to keep a narrow focus when adding exposure to Japan. That's because the Nikkei index's 25 percent jump since mid-October is largely the result of new Prime Minister Shinzo Abe's intense pressure on the Bank of Japan to double its inflation target to 2 percent. The move, aimed at breaking Japan's long cycle of deflation, would weaken the value of the yen and could help make Japanese exports more competitive overseas.

Markets have begun pricing in the policy, similar to the U.S. Federal Reserve's rounds of quantitative easing. That has sent the dollar up more than 12 percent against the yen since November, hitting a 2-1/2-year high. A falling yen makes investing in Japan trickier for dollar-based U.S. investors. Even as stock prices go up, a falling yen eats into returns.

Jan 11	Young Magazine pulls 'inappropriate' AKB48 breast pic
	Shukan Young Magazine, which is published by Kodansha, announced on Friday that its issue originally scheduled to hit newsstands on January 12 will be delayed over the inclusion of an image featuring a topless Tomomi Kasai being fondled from behind by a young Caucasian boy. (Tokyo Reporter)

Source: http://www.newsonjapan.com/html/newsdesk/article/100461.php

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