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23 Apr 2015
Japan: Toshin buying of foreign securities continues – Nomura
FXStreet (Barcelona) - Yujiro Goto, FX Strategist at Nomura, notes the Japanese buying remained tilted in favour of foreign securities and in the Asian FX basket, mimicking the previous trend.
Key Quotes
“Retail investors continued to purchase foreign assets via toshins last week, for the 21st consecutive week, according to NRI. They bought JPY75bn ($0.6bn) of foreign securities via toshins, almost the same amount as the previous week (JPY74bn).”
“Retail investors sold domestic assets via toshins last week, for the second consecutive week. They sold JPY38bn ($0.3bn) of domestic assets via toshins. Retail investors still prefer foreign assets to domestic assets.”
“The latest Nomura Individual Investor Survey shows a slightly pessimistic outlook for Japanese equity prices over the next three months among retail investors, even though other consumer sentiment indicators continue to improve. Some retail investors see a good opportunity for profit-taking from Japanese equities, while equity prices continue to rise.”
“Retail investors were small net buyers of foreign currencies in the currency selection-type toshin market last week for the third week in a row. They bought JPY134mn ($1mn) of foreign currencies via currency selection-type toshins. They continued to purchase the Asian currency basket, to the tune of JPY16bn.”
“Retail investors continued to sell USD in the currency selection-type toshin market at a moderate pace (JPY13bn). Retail investors were small net buyers of BRL (JPY1bn) for the third week in a row.”
Key Quotes
“Retail investors continued to purchase foreign assets via toshins last week, for the 21st consecutive week, according to NRI. They bought JPY75bn ($0.6bn) of foreign securities via toshins, almost the same amount as the previous week (JPY74bn).”
“Retail investors sold domestic assets via toshins last week, for the second consecutive week. They sold JPY38bn ($0.3bn) of domestic assets via toshins. Retail investors still prefer foreign assets to domestic assets.”
“The latest Nomura Individual Investor Survey shows a slightly pessimistic outlook for Japanese equity prices over the next three months among retail investors, even though other consumer sentiment indicators continue to improve. Some retail investors see a good opportunity for profit-taking from Japanese equities, while equity prices continue to rise.”
“Retail investors were small net buyers of foreign currencies in the currency selection-type toshin market last week for the third week in a row. They bought JPY134mn ($1mn) of foreign currencies via currency selection-type toshins. They continued to purchase the Asian currency basket, to the tune of JPY16bn.”
“Retail investors continued to sell USD in the currency selection-type toshin market at a moderate pace (JPY13bn). Retail investors were small net buyers of BRL (JPY1bn) for the third week in a row.”