Global Funds Cautious on Adding Japan Bank Stocks Before BOJ [BNN Bloomberg (Canada)]
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Company Research
Source: BNN Bloomberg
stocks to their portfolios, even as their profitability is expected to improve on a widely-expected rate hike by the nation's central bank as early as next week. Nomura Asset has been taking some profit on its Japanese bank holdings. While it's still overweighting the sector, portfolio manager Yoshihiro Miyazaki says too many people are now chasing lenders on expectation of higher rates. JPMorgan Asset portfolio manager Michiko Sakai has reduced holdings of banks, as expectations for the BOJ's move away from sub-zero rates have already been priced in by the market. “We'd like to own banks, but there are better options out there,” Sakai said. Within financials, insurers look more attractive on improving corporate governance, while lenders like Mitsubishi UFJ Financial Group Inc., Japan's biggest bank, have become less attractive on a risk-reward perspective, she said. A gauge of banks on the Topix has surged almost 70% since bond yields moved higher following the BOJ's surprise m
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MUFG
Sec Filings
- 4/17/24 - Form 6-K
- 4/9/24 - Form 424B2
- 4/9/24 - Form FWP
- MUFG's page on the SEC website