Even as Japan’s benchmark stock index flirted with bear territory on Friday and then closed more than 6 percent lower for the week, there was some good news for the beaten-down Nikkei.
Japan’s public pension fund said on Friday afternoon that it would change its asset allocation target by lifting its weighting of domestic stocks and lowering its target allocation for Japanese government bonds.
Billionaire investor George Soros, meanwhile, returned to Japanese markets this week after his investment firm pulled out of the market in May just before the sharp sell-off in shares got underway, Dow Jones newswires reported, citing a person close to the matter.
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