Last week’s MoF data continued to signal strong appetite for foreign securities, with Japanese investors purchasing some JPY 2.3 trn in foreign dent on the week ended March 18, notes BNP Paribas.
"Faltering risk environment and strengthening JPY do not appear to have dented Japanese appetite for foreign securities, which could be a warning signal for the speculative JPY longs which are running at the highest level since 2011 according to our positioning indicator.
The data highlight of the week in Japan will be the Tankan survey on Friday, which our economists expect to show confidence to have retreated moderately," BNPP argues.
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