Japan’s record stock market rally earlier this year seems a distant memory as foreign investors sell off their shares in a sluggish economy.
Citigroup and Abrdn are among banks that have become more pessimistic on the country’s stocks as the outlook for the Bank of Japan’s (BOJ) corporate governance reform and monetary policy remains uncertain. A Bank of America survey of fund managers found that about a third of respondents believe the market has peaked.
Foreign investors, who just a few months ago helped lift Japanese stocks to record highs and beat foreign rivals, became net sellers for the fourth straight week through June 14. That was the longest streak since September, according to the Tokyo Stock Exchange (TSE). ) facts.
