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JPMorgan Newsroom
Goldman Sachs: The yen is at a "sweet spot" that will attract foreign investment to purchase Japanese Stocks.
Bruce Kirk, chief Japan stocks strategist at Goldman Sachs, stated that the current level of the yen against the dollar is beneficial for overseas investors to purchase Japanese stocks. He believes the risk of the exchange rate dropping below the 160 mark is limited, considering it might trigger some form of intervention by Japanese authorities. On Tuesday in the Tokyo market, the yen was around 157.13 against the dollar. This provides overseas funds with a "sweet spot" to buy Japanese stocks at a relatively low price, reducing the likelihood of a decline in the dollar value of these stocks due to yen depreciation in the future. Kirk believes that if the yen appreciates, this would also bring some.
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M&A activity in Japan is heating up, and JPMorgan has hired a former Bank of America executive to oversee its investment banking business in Japan.
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