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Japan funds reluctant to buy local debt after selling abroad

Tokyo

THE tide of money flowing out of Japan has turned, but the nation's investors say that it is too early to dive back into their own debt.

Domestic investors sold overseas bonds for two straight weeks in the latest data from the Ministry of Finance for only the second time this year. That ended a 10-week run of net purchases, the longest stretch since the start of last year.

Some of Japan's biggest funds - including Mitsubishi UFJ Kokusai Asset Management and Massachusetts Mutual Life Insurance...

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