11.02.2016 - Nomura head blames SWFs for Japan sell-off
The head of Japan’s biggest brokerage believes the country’s battered equity market will rebound once oil-dependent sovereign wealth funds run out of stocks to sell. Koji Nagai, chief executive of Nomura, said Japanese shares had been targeted by Middle Eastern SWFs, which have been under pressure from dropping crude prices, because of the market’s abundant liquidity. When they do stop selling, investors can expect a “sharp rebound”, he said. Brokers estimate the biggest petrodollar-funded SWFs held a collective 6 per cent of the Japanese equity market in mid-2015...............................................Full Article: Source
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