Global Investors Turn Cautious on Once Favorite Japanese Stocks
- Japanese shares face material risk of correction, Citi says
- Foreign investors were net sellers of shares for fourth week
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Japan’s record share market rally earlier this year is looking like a distant memory as foreign investors sell off stocks in a sluggish economy.
Citigroup Inc. and abrdn Plc are among firms that have turned more pessimistic toward the nation’s equities as the outlook for corporate governance reform and the Bank of Japan’s monetary policy remains uncertain. A fund manager survey by Bank of America Corp. showed about a third of respondents believe the market has peaked.