BlackRock Stays Bullish on Japan Stocks Despite Oil Price Spike

BlackRock Japan Co. said it is keeping its overweight stance on Japanese equities as Prime Minister Sanae Takaichi’s fiscal expansion plans and the nation’s strong economic ties with the US provide a buffer against the war in the Middle East.

“It will take quite some time before any impact from the oil price is reflected in the fundamentals and it’s difficult for the market to fully digest the situation at this stage,” said Yuichi Chiguchi, the unit’s chief investment strategist. “There is little need to turn bearish.”