Dominic McEwan, director of Jade Absolute Fund Managers Ltd and manager of the $10m Jade Japan Fund, says Japanese stocks with global earnings could still be affected by a double dip in the US and Europe.
Furthermore the recent, mainly unexpected, strength in the yen has eroded profit forecasts. This stood at about a 100% increase shortly after reporting season in late May but more recently has moved to about 70%.
Although the upturn has helped long-biased Japanese investors, concern over the
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