After the major shift in economic policies, Japan country-specific exchange traded funds moved out of an extended rut, with Prime Minister Shinzo Abe calling Japanese equities a buy.
“Clearly, Japan is now a Buy,” Abe said at an investor conference held by Bank of America Merrill Lynch, reports Kana Inagaki for the Wall Street Journal.
“Now is our chance,” Abe added, pointing to strong corporate earnings, aggressive economic policies and potential opportunities after wining the bid for the 2020 Olympics.
Abe also reminded investors that it is always prudent to get in on an investment before the boom. [WisdomTree: Japanese Yen Weakness Flowing Through to Exporters’ Bottom Line]
“The secret to successful investment is to be one step ahead of everyone else,” Abe said. “If so, then now is the right time to invest in Japan, as the full effect of my growth strategy and the Olympics has yet to come out.”
Japanese equities have strengthened on Abe’s push for economic changes, or so-called “Abenomics,” which include aggressive quantitative easing, infrastructure spending and rapid devaluation of the yen.