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The Japanese stock market was floating.
On March 4, the Nikkei 225 index exceeded the 40,000 -point mark for the first time to refresh the highest point of history.
The Japanese stock market has increased by 20%this year, which is higher than the global stock indexes such as the Dow Jones Industrial Average (4%). It is second only to Turkey (22%) in the 20th G20 (G20).
However, this wave of big bull market carnival scared many Japanese retail investors.Agra Investment
Since April 2023, foreign investors have flowed into the Japanese stock market.Especially during the period from November to February 2024, the more the Nikkei 225 index is approaching the new high, the higher the amount of foreign capital inflows.Data from Japan’s Ministry of Finance, as of February 10, the total amount of foreign investment has increased to 3436.4 billion yen (approximately RMB 167 billion) as of this year.
Compared with the "explosive buy" of foreign capital, Japanese retail investors respond to the stock market much more cold.Judging from the flow of funds throughout the market, the overall investment amount of Japanese retail investors in the stock market declined from January 2023 to February 2024.By February 2024, the amount declined faster and faster.
On the one hand, foreign investment is buying, but the other side is the exit of local retail investors.What makes the Japanese pay attention to their own stock market?
"The main reason is the panic caused by the big collapse of the stock market in the last century." In this regard, Reuters analyzed.
The shadow of the bubble era
Just after the New Year in 2024, the Japanese stock market rose sharply, and foreign investment was optimistic, but Japanese retail investors were busy "falling bags for peace".
From January 9th to January 12th, Japanese retail investors sold a total of 106.8 trillion yen (about 51.5 billion yuan) of Dongzhi Main Board shares.extremum.
The inflow of funds of Japanese retail investors in the Japanese stock market (source: JPX)
In the face of this situation, Nomura Finance Changbei Village said: "We cannot ask customers to stop selling stocks. As the stock price rises to a certain level, the profit -selling pressure increases, which is inevitable..Ahmedabad Investment
The reason why Japanese retails were withdrawn so fast are probably afraid of being stuck.
The 30 -year -old Ishikawa Ayako lived in TokyoMumbai Wealth Management. After the epidemic, he began to invest in stocks and became the "new investor" in the Japanese stock market.She usually learns stock knowledge through financial management books and online channels. Do n’t look at the current stock market rising. In February 2021, the average stock index fell by the Nikkei fell by 1200 points, setting a biggest decline in 4 years."Recommended stocks", she was also "stuck".At the same time, there were people "the salary of one month is gone for one night."
"New investors" like Jia Daizi are still shadows, let alone other old shareholders.
Today’s middle -aged and elderly people and elderly people have basically experienced the era of the stock market bubble rupture, crisis and the 2008 subprime crisis. It has also witnessed the unexpected improvement of the Japanese stock market for more than 30 years. Therefore, it is difficult for most retail investors to treat their own country.The stock market has a sense of trust.
"We did not dare to recommend Japanese stocks for a long time," said Nakagawa Yoshikawa Yoshimura, Nakamura, said that he has worked in Nomura for 20 years, and Japanese stocks have been unhappy for a long time.
After entering the 30 years of loss, the Japanese people generally do not like high -risk investment, and promote low -risk savings."Economist" data shows that about 54%of Japan’s household assets are cash or deposits. In contrast, the British data is 31%and the United States is 13%.
Another group of data shows that in the 1970s, retail investors in the Japanese stock market accounted for about 40%. In the early 1990s, the stock market bubble plummeted after the crushing, and the current level was 17.6%.
Mitsubishi Ryomoto Holding Company Financial Changshan Benxin said that in Japan, the elderly accounted for a large proportion of retail investors, but many of them had suffered huge book losses when the Japanese stock market bubble was broken."When the stock price rose sharply, these investors often took action to lock in profit." He pointed out that these older retail investors do not believe that the Nikkei index will rise for a long time.
Not just the elderly in Japan, in fact, most Japanese people have specific distrust of Japanese stocks.For example, employees of many related companies believe that the company is not seeking benefits for the majority of shareholders.The person in charge of a large -scale online broker in Japan also revealed that when he held an investment lecture in a remote countryside in Japan, someone stood up and asked "whether we thought we were unjust."
Even the shareholders still say that "Buffett bought Japanese stocks to make a lot of money, and then sell them back to Japanese retail investors."
Jaibao Indian stock market
The elderly did not dare to buy it, and many young Japanese would rather invest in overseas and do not want to buy Japanese stocks.
The 28 -year -old Saito Miri is a nurse who has been in contact with stock investment since 2020, but she prefers US stocks and has invested in (US Science and Technology Giants), 500 Index (American Company Index) and Biontech (German vaccine manufacturer) (German vaccine manufacturer)wait.
Regarding the investment income in recent years, she expressed satisfaction and saw that her personal assets have increased significantly. As for whether she will invest in the Nikkei index, she is still watching.
In response to this mentality of young people, asset management companies from Tokyo analyzed that many young people now enjoy the tax benefits brought by the new NISA (small investment non -tax system), but they do not buy Japanese stocks, but buy yen for yenThe pricing products invest in US stocks, or stocks in India and other regions.
According to the Indian Times, since this year, Japanese retail investors have invested funds to the Indian stock market.According to Bloomberg data, in January, Japanese individual investors swept 237 billion yen (about 11.5 billion yuan) in the Indian stock market.
This phenomenon has been available since last year.As of the end of 2023, Japanese investors’ investment in the Indian stock market reached 286.85 billion yen (approximately RMB 139.3 billion), an increase of 815.2 billion yen (about 39.6 billion yuan) from the end of 2022.India has become the emerging capital market that is most favored by Japanese retail investors.Hyderabad Wealth Management
The 32 -year -old Guoshan Bo is the "Internet celebrity" of Japan’s stock market. He participated in the Money Skillset investment show. On the video website, the click rate of more than one million times on the video website was more than one million times.Guoshanbo pointed out that although the Nikkei index has now increased considerable and attracted many investors, for young people, the S & P 500 index and foreign stock market are more attractive.
"Many Japanese under the age of 40 believe that the older generation has obtained huge economic benefits from the bubble economy. Even if young people want to do their best for Japan, it is useless because this door has been closed.The 30 -year -old young people have not had high expectations for the future of Japan, "Guoshan Bo said," I think this is why many young people wait and see. "
Angegirk also emphasized that the company’s economist Angelike also emphasized: "The Japanese have a deep or doubt about the economy, and the decline has always been the living characteristics that people have seen and hear for a long time.To surpass Japan, the same topic appears repeatedly.
How to make Japanese buy stocks
Also aware of these issues are the Japanese government. They hope that people who have money in their hands can invest in the Japanese stock market.Mumbai Investment
Analysts of Lianbo Asset Management believe that even if only the Japanese people take out a relatively mild 2%assets and re -allocate, it may also bring $ 150 billion in funds to the stock market.It is necessary to know that in 2023, about $ 70 billion of foreign funds entered, it triggered that the East Stock Index bounced by more than 25%.
In order to encourage the Japanese to invest in the stock market, both the government and the enterprise are working hard.In mid -December 2023, an unusual advertisement appeared on Japan’s Shinkansen. Advertising encouraged everyone to buy new shares issued by Japan’s largest automotive parts manufacturer electricity company.
Starting from January 1, 2024, the Kishida government launched a new NISA.Under the new system, the upper limit of the individual’s annual investment of stocks has doubled to 3.6 million yen (about 170,000 yuan).The purpose is to encourage Japanese families to invest in markets such as stocks and savings, and make better preparations for the life after retirement.
But many people are still unmoved.
Shiwako Yaoko, who lives in Kanagawa Prefecture, said: "I don’t know if I can represent ordinary Japanese families, but when talking about the soaring prices and how to deal with it, my friends and I thought of the same thing -I’m afraid of the stock on stocksLosing money, our biggest concern is whether the money on our hands is enough to live for another 20 years. "
Of course, some elderly people are afraid that the money on their hands is not worth the money, but trying stocks, but it was splashed with a pot of cold water by reality.In Jilu City, Hyogu County, a 77 -year -old man participated in the investment team. As a result, he was deceived 400,000 yen (about 20,000 yuan) on the first day. He was discovered in time by his son in Tokyo and was stopped immediately.
In the eyes of many Japanese people, although the stock market is rising, it has not improved their lives in their lives, and their concerns about economic prospects cannot dissipate.
According to the Kyodo News Agency of Japan, in 2023, the GDP in Japan was US $ 4.21.06 trillion, which was surpassed by Germany and reduced to the fourth place in the world.Under the devaluation of the currency, Japanese prices rose, but wages did not rise, which seriously weakened the Japanese’s spending power.A survey from "Japan Economic News" showed that the average number of meals for Japanese families in 2023 decreased by 42%, and 60%of the people’s consumption downgraded, and they chose to sacrifice quality to buy cheaper products.
The Chief of Financial, the Financial Finance, said that the motivation for retail investors to make a profit is not so much due to the desire to increase wealth, it is better to worry about inflation and the depreciation of the yen."The motivation of these retail trading stocks is more about the risk of hedging prices and the depreciation of the yen, not just for the short -term rise for the stock price."
Of course, the analysis agencies are still optimistic. In their opinion, once Japan’s inflation continues and the return of savings will fall, retail investors will eventually enter the venue.
Kokk, a Japanese stock strategist, said: "The Japanese stock market has poorly performed collective scars in the past 30 years and will not disappear overnight. Of course, if the inflation continues, Japanese families have reached a certain stage, and they must re -allocate assets.Make the yen’s denomination assets higher in return. "
But is retail investor really willing to enter the venue?
The author of "The Power of Money" Schilde said that Japanese families are constantly warning to inflation expectations. They have long been surprised that they will tell you that "I have been warned by this decades, I’m tired."
"You may be able to take the horse to the water, but you can’t force it to drink water." Sheard said.
Varanasi Investment
