Overview
- Goldman Sachs reports U.S. investor participation in Japanese equities has accelerated to the quickest pace since the Abenomics era.
- Active engagement by U.S. funds is at the highest level since October 2022, according to Goldman strategist Bruce Kirk.
- The Nikkei 225 is up about 30% in dollar terms this year versus roughly 14% for the S&P 500, supported by a firmer yen and optimism over Prime Minister Sanae Takaichi’s pro-stimulus stance.
- Goldman is fielding more meeting requests from U.S. clients as flows tilt toward technology and AI names after years of value-stock dominance.
- Foreign holdings remain light versus the Abenomics peak, and Tokyo’s governance reforms are seen as supportive, leaving scope for further buying.