Bloomberg: As Selloff Extends in Japan Stocks, One Prominent Buyer Is Back – ForexLive

This article was originally published on this site

Bloomberg report on the Bank of Japan stepping back in to buy ETFs:

“The BOJ buys ETFs mechanically” and tends to put in buy orders after the Topix closes down in the morning session, said Norihiro Fujito, a senior strategist at Mitsubishi UFJ Morgan Stanley Securities Co. in Tokyo. “The central bank passed on buying ETFs in October simply because stocks continued to rise. In turn, it came in to buy in November just because the market is adjusting from the rally.”

Ohhh … I do like this part of the quote … “market is adjusting from the rally

Is that what the kids are calling it nowadays? 😀