Japanese stocks have made a blazing start to 2024, surging to three-decade highs as a weaker yen and expectations of interest rates staying low have re-ignited the strongest rally for years. A 6% gain in the Nikkei over the past two weeks is the best start to the year in a generation, according to LSEG data, and comes on the heels of a 28% jump last year — the biggest annual gain in 10 years. Foreigners were net sellers in the first week of January, if derivative trade is taken into account, but were buyers of cash equities according to exchange data and sales desks say this week was even busier and that sellers have been scarce.
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