The Japanese market is famous for being contrary - not a haven for contrarian investors but for the ...
The Japanese market is famous for being contrary - not a haven for contrarian investors but for the fact that whatever domestic investors seem to think, foreigners tend to take the opposite view. With globalisation, it is tempting to believe that all markets respond in the same way, and that perceptions are uniform across the world. So the recent rate rise, the first for 10 years, has put the wind up foreign investors, who were losing faith in promises of a Japanese recovery. The Bank of Japan's (BoJ) zero interest rate policy, introduced in the depths of crisis 19 months ago, has been en...
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