Martin Currie Japan runs net long position

Martin Currie's Michael Thomas is maintaining a small net long position in his Japan hedge fund despite his belief the market lacks the catalyst for a long-term rally. Thomas feels the appointment of a new Bank of Japan governor may be a potential driving force for the market, as would a resolution of the Iraq situation in the Middle East. He has seen a volatile January in the Japanese market as a result of the ongoing unwinding of crossholdings. He said: 'But for aggressive buying by foreigners mid-month, the market would have made larger losses. Several factors instigated the foreig...