24 Oct 2013
Flash: Key Japanese players to send the Yen lower - Nomura
FXstreet.com (Barcelona) - According to Yujiro Goto, FX Strategist at Nomura, expectations remains high that the three main types of investor in Japan – toshins (retail investors), pension funds and lifers - will be key players in sending JPY weaker.
Key Quotes
"Retail investors’ portfolio investment activities via toshins recovered in September. Retail investors purchased JPY565bn (USD5.7bn) of securities, of which risky asset investment accounted for JPY251bn (USD2.5bn). They purchased JPY189bn (USD1.9bn) of foreign securities via toshins, for the first time in two months."
"Pension funds sold both foreign securities and domestic equities in September, but because of strong performance in
the equity market in September, the selling was small. Pension funds sold JPY7bn (USD70mn) of domestic equities and JPY121bn (USD1.2bn) of foreign equities in September."
"Major lifers started releasing their investment plans for H2 FY2013, and the plan of one of the biggest lifers suggested a
gradual improvement in FX risk-taking activities."
Key Quotes
"Retail investors’ portfolio investment activities via toshins recovered in September. Retail investors purchased JPY565bn (USD5.7bn) of securities, of which risky asset investment accounted for JPY251bn (USD2.5bn). They purchased JPY189bn (USD1.9bn) of foreign securities via toshins, for the first time in two months."
"Pension funds sold both foreign securities and domestic equities in September, but because of strong performance in
the equity market in September, the selling was small. Pension funds sold JPY7bn (USD70mn) of domestic equities and JPY121bn (USD1.2bn) of foreign equities in September."
"Major lifers started releasing their investment plans for H2 FY2013, and the plan of one of the biggest lifers suggested a
gradual improvement in FX risk-taking activities."