The Bank of Japan is the only major central bank that now has negative rates following aggressive tightening globally to combat inflation. It has hinted that it will alter yield curve control -- where it guides short-term rates at -0.1% and 10-year Japan government bond yield around zero -- at some point. Japanese investors hold around $1.84 trillion in foreign assets, according to Deutsche Bank. "Recent inflows into Japanese markets are mainly driven by the foreign investors," Murao said. "We do not really have a global champion such as Google, Amazon, or Meta in the Japanese markets," Murao added.

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Persons: Florence Lo, Yuichi Murao, Murao, I've, Amanda Cooper, Dhara, Christina Fincher Organizations: REUTERS, Nomura Asset Management, Reuters, The Bank of Japan, Nomura, Management, Equity, Treasury, Nikkei, Deutsche Bank, Apple, Visa, Toyota, Sony, PlayStation, Thomson Locations: Japan, Tokyo