McQuaker: BoJ intervention could lead to boom for Japanese equities

Henderson's Bill McQuaker says the recent move by the Bank of Japan (BoJ) to prevent the yen soaring against the dollar could feed through to equity markets if it is the start of a new trend.

The Japanese authorities intervened following last month’s earthquake as the yen spiked to its highest level versus the dollar since the end of World War II. The central bank pumped in ¥6trn to bring the currency back down again as nervous investors sought safe havens for their capital amid sharp falls in the stock market. Head of multi-manager McQuaker says further moves from the BoJ would support equities. “The circumstances we have seen might provoke a change in sentiment from the central bank. “The bank has moved to prevent the yen strengthening and if that is the beginning of ...