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2 Apr 2015
Japanese retail investors continue to favour foreign assets and Asian FX basket – Nomura
FXStreet (Barcelona) - Yujiro Goto, Research Analyst at Nomura, shares the toshin market data reflecting the activities of Japanese retail investors in equities, bonds and currencies.
Key Quotes
“Retail investors continued to purchase foreign assets via toshins last week, for the 18th consecutive week, according to NRI. They bought JPY154bn ($1.3bn) of foreign securities via toshins, the fastest pace in three weeks.”
“The four-week average of net purchases of foreign assets via toshins accelerated to JPY154bn ($1.3bn) the biggest amount in six weeks, suggesting strong toshin momentum continues in March, after retail investors bought foreign assets via toshins at a record pace in February.”
“Retail investors continue to prefer foreign equities to other asset classes in the toshin market, as they are estimated to have purchased JPY68bn ($0.6bn) of foreign equities via toshins for the 19th consecutive week.”
“However, retail investors also resumed purchasing foreign bonds via toshins (JPY29trn or $0.2bn) for the first time in three weeks, while they also bought domestic assets by JPY34bn ($0.3bn) via toshins for the first time in three weeks.”
“Retail investors were net sellers of foreign currencies in the currency selection-type toshin market last week for the third week in a row. They sold JPY8bn ($65mn) of foreign currencies via currency selection-type toshins, at a slower pace than in the previous week (-JPY18bn).”
“They continued to purchase the Asian currency basket, to the tune of JPY17bn. The pace of BRL selling slowed to JPY7bn from JPY21bn the previous week. While BRL selling via currency selection-type toshins accelerated recently, the amount is still smaller than in mid-2014, as investors’ exposure in BRL had already been scaled back.”
Key Quotes
“Retail investors continued to purchase foreign assets via toshins last week, for the 18th consecutive week, according to NRI. They bought JPY154bn ($1.3bn) of foreign securities via toshins, the fastest pace in three weeks.”
“The four-week average of net purchases of foreign assets via toshins accelerated to JPY154bn ($1.3bn) the biggest amount in six weeks, suggesting strong toshin momentum continues in March, after retail investors bought foreign assets via toshins at a record pace in February.”
“Retail investors continue to prefer foreign equities to other asset classes in the toshin market, as they are estimated to have purchased JPY68bn ($0.6bn) of foreign equities via toshins for the 19th consecutive week.”
“However, retail investors also resumed purchasing foreign bonds via toshins (JPY29trn or $0.2bn) for the first time in three weeks, while they also bought domestic assets by JPY34bn ($0.3bn) via toshins for the first time in three weeks.”
“Retail investors were net sellers of foreign currencies in the currency selection-type toshin market last week for the third week in a row. They sold JPY8bn ($65mn) of foreign currencies via currency selection-type toshins, at a slower pace than in the previous week (-JPY18bn).”
“They continued to purchase the Asian currency basket, to the tune of JPY17bn. The pace of BRL selling slowed to JPY7bn from JPY21bn the previous week. While BRL selling via currency selection-type toshins accelerated recently, the amount is still smaller than in mid-2014, as investors’ exposure in BRL had already been scaled back.”