Tags: George Soros | Japan | Stocks | Shares

George Soros Said to Buy Japanese Shares While Other Investors Dump Them

By    |   Friday, 07 June 2013 12:59 PM

Japan's Nikkei 225 stock index has plunged 19 percent from its May 23 high, and that drop has reportedly turned George Soros into a buyer.

The hedge fund legend, who earlier racked up profits of more than $1 billion wagering against the yen and Japanese stocks, returned to the stock market this week as a buyer, after seeing signs of stability in Japan's bond market, according to a person close to the matter, The Wall Street Journal reports.

The Bloomberg Japan Sovereign Bond Index has moved between 106.3 and 106.8 this week.

Editor's Note: Billionaires Dump Stocks. Prepare for the Unthinkable.

Most investors have been dumping Japanese stocks lately, thinking that the government's massive effort to stimulate the economy may not work.

Soros' buying in Japan has included both blue-chip multinationals and medium-cap growth stocks, the Journal source said.

Japanese stock levels are “very attractive” to Soros, as he and his colleagues at Soros Fund Management, expect Japan's economy and corporate earnings to improve, the person noted.

Despite, the recent plunge, the Nikkei 225 remains up 52 percent from a year ago, closing Friday at 12,877.53.

Some experts say Soros' move makes sense.

"It wouldn't surprise me at all," Glen Wood, head of global sales for Mitsubishi UFJ Morgan Stanley Securities, told CNBC. "What we've seen this week isn't a reversal of what we've seen over the past six months, it's a correction and an opportunity for longer-term investors to step in."

Editor's Note: Billionaires Dump Stocks. Prepare for the Unthinkable.


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Japan's Nikkei 225 stock index has plunged 19 percent from its May 23 high, and that drop has reportedly turned George Soros into a buyer.
George Soros,Japan,Stocks,Shares
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2013-59-07
Friday, 07 June 2013 12:59 PM
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