Despite expectations of a massive flight of investment capital out of Japan, investors there are continuing to pour money into domestic assets:
They sold 78 billion yen ($785 million) of foreign currency-denominated toshins, or investment trusts, last week, although the pace of selling slowed from the previous week of 254 billion yen, according to Nomura.
Nomura said in a report that Japanese investors were taking advantage of the weak yen to lock in profits.
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And just a heads-up while we are on the topic – tomorrow we get the flow of funds data from Japan for the week: Japanese buying of foreign bonds, Japanese buying of foreign stocks,Foreign buying of Japanese bonds and Foreign buying of Japanese stocks – all numbers for the week ending April 19, 2013.