The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

A man is seen reflected on a monitor displaying share prices outside a Tokyo brokerage.
A man is seen reflected on a monitor displaying share prices outside a Tokyo brokerage.
(ISSEI KATO/REUTERS)

Why the risk flight has landed in Japan

Don’t look now, but Japan is back in favour.

The latest Bank of America Merrill Lynch survey of fund managers shows a surprising – some might say, masochistic – surge in affection for the Land of the Rising Sun (AKA, Land of the Falling Sum).

As those of us who have held Japanese equities for a few years – and, yes, I’m one of them – can tell you, this is a trade that requires a certain insensitivity to pain.