Japan’s Fukoku: Will buy ETFs hoping that BOJ’s ETF buying will support market

Spokesperson from Japan’s Fukoku Mutual Life Insurance Company was on the wires last hour, via Reuters, noting that they will continue to invest in foreign assets and ETFs, while refrain from investing in JGBs.

Key Quotes:

Will refrain from investing in JGBs

To continue focusing on investment foreign bonds without ccy hedging in H2 due to rising dollar hedging costs

Will buy ETFs in the hope that the BOJs ETF buying will support market