BlackRock says the yen’s weakness is turning foreign investors away from Japanese stocks

Comments from head of Japan active investments at BlackRock via a Bloomberg pice (Bloomberg is gated):

• “Investing in Japanese equities becomes harder if the currency continues to weaken,”
• “When you speak with global investors about Japan, FX is definitely top of mind for everyone.”

Well, no.

The Nikkei 225 Stock Average has jumped 14% this year. After taking into account the slide in the yen that comes back to around 3% for US dollar-based investors. Like BlackRock. However, not everyone is in the US.

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More on the yen and Nikkei:

• JP Morgan highlights USD/JPY at 160 as key for Bank of Japan intervention