17 Feb 2015
JPY Flow Monitor: Currency baskets most popular among retail investors – Nomura
FXStreet (Barcelona) - Yujiro Goto, Research Analyst at Nomura, shares the monthly JPY flow data of toshin market in equities and currencies.
Key Quotes
“Toshin companies bought a net JPY565bn ($4.8bn) in foreign securities in January for the second month in a row. Foreign equity investment was especially aggressive, as retail investors bought foreign equities at a record pace.”
“The improvement in risk sentiment among retail investors, with strong expectations of JPY weakness, should encourage retail investors to continue purchasing foreign assets, especially foreign equities, via toshins, in our view.”
“The most popular currency selection-type toshin among retail investors in January was the currency basket (JPY69bn or $0.6bn) in January, for the third consecutive month.”
“While they also bought JPY8.0bn ($0.1bn) of the US dollar in the currency selection-type toshin market, the increasing popularity of basket currencies may indicate that there are broader JPY weakness expectations against the major currencies among retail investors.”
“Retail investors bought AUD (JPY16bn) and TRY (JPY20bn) via currency selection-type toshins too.”
“In contrast, retail investors continued to sell BRL (-JPY25bn) and MXN (-JPY6bn).”
Key Quotes
“Toshin companies bought a net JPY565bn ($4.8bn) in foreign securities in January for the second month in a row. Foreign equity investment was especially aggressive, as retail investors bought foreign equities at a record pace.”
“The improvement in risk sentiment among retail investors, with strong expectations of JPY weakness, should encourage retail investors to continue purchasing foreign assets, especially foreign equities, via toshins, in our view.”
“The most popular currency selection-type toshin among retail investors in January was the currency basket (JPY69bn or $0.6bn) in January, for the third consecutive month.”
“While they also bought JPY8.0bn ($0.1bn) of the US dollar in the currency selection-type toshin market, the increasing popularity of basket currencies may indicate that there are broader JPY weakness expectations against the major currencies among retail investors.”
“Retail investors bought AUD (JPY16bn) and TRY (JPY20bn) via currency selection-type toshins too.”
“In contrast, retail investors continued to sell BRL (-JPY25bn) and MXN (-JPY6bn).”