Japanese equity markets have been understandably subdued since the March earthquake and subsequent nuclear scare. The group of asset managers publicly declaring the post-disaster period to be an excellent buying opportunity have been mostly ignored by global investors still deeply sceptical about Japan’s recovery prospects and its long-term growth. New issuance has slumped accordingly: Dealogic data show that in the first half of 2011 equity volumes fell 54% on the same period in 2010 to $14.9
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