Goldman Sees Yen in Sweet Spot for Global Buyers of Japan Stocks
- Global investors shunned Japanese stocks after the August rout
- Currency market intervention by Japan may protect the yen
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The yen’s current level versus the dollar is positive for overseas investors to buy Japanese stocks, said Bruce Kirk, chief Japan equity strategist at Goldman Sachs Group Inc.
He sees only a limited risk of the currency — which traded around 157.13 to the greenback on Tuesday in Tokyo — weakening beyond 160, given the likelihood this would trigger some form of intervention by Japanese authorities.