Individual investors in Japan are spurning Chinese assets, in an echo of the boycotts by Chinese consumers of Japanese products amid a territorial spat between Asia’s two largest economies.
In recent weeks asset managers within Japan have scrapped plans to launch funds that had aimed to raise a combined Y67bn ($840m) to invest in shares in Shanghai, according to analysts at Lipper.
In the latest monthly survey of individual investors by Nomura, Japan’s largest brokerage, the renminbi fell to an all-time low rating as investors were asked to select one currency as an “appealing” investment target over a three-month timeframe.
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