Japanese investors shun Spain as crisis resurfaces
News On Japan via Bloomberg -- Apr 11
Japan's biggest investors, with $368 billion under management, say it's too early to buy bonds from Europe's most indebted nations as rising Spanish yields spark concern the region's fiscal crisis has further to run.
Kokusai Asset Management Co., which runs Asia's largest mutual fund, Mitsubishi UFJ Asset Management Co., a unit of Japan's biggest publicly traded bank, and Diam Co., part of the nation's second-biggest life insurer, are all shunning Spanish debt. Japanese investors sold a net $43.8 billion of euro- denominated bonds in the 12 months ended Feb. 29, according to figures from the Ministry of Finance in Tokyo.
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