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Weak Yen’s No Longer a Sure Boost to Japan Stocks on BOJ Concern
Japanese stocks are no longer getting the kind of boost they used to get from a weak yen, as investors turn cautious it will trigger the Bank of Japan to further tweak its policy. Since trading at a 33-year high earlier this month, the Topix index has struggled to regain its momentum even as the yen slid to levels when Japan intervened last year. Japanese stocks have tended to rise when the yen depreciates, on expectation exporters will benefit. “Stocks will likely get sold on concern volatility will rise” if the yen weakens further and investors begin to worry the BOJ will adjust its policy, said Hiroshi ... (full story)