Japan stocks a buy for some funds betting on policy continuity

"As long as the BOJ doesn't change its monetary policy stance, the stock market will remain resilient."

His views are echoed by Nicholas Smith, a strategist at CLSA Securities Japan who sees a buying opportunity in stocks. "It's hard to see a sustained break below 105 in the next six months" for the dollar-yen pair, according to Ranko Berich, head of market analysis at Monex Europe in London. "Dollar-yen direction is determined by where the interest-rate spread might be headed," he said."It won't suddenly break 100 barrier. Should the US not adjust interest rates until after 2023, Japan is unlikely to budge as well."

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