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Markets

Japan REITs clouded by uncertainty over post-Kuroda BOJ

Prospect of central bank pivoting from ultra-easy stance spooks foreign investors

Investors are starting to doubt if the BOJ can sustain its ultraloose policy.    © Reuters

TOKYO -- Foreign investors are starting to shun Japanese real estate investment trusts, bracing for a change in the ultraloose monetary policy that has underpinned the market as Bank of Japan Gov. Haruhiko Kuroda nears the end of his term in April.

The Tokyo Stock Exchange REIT Index was down 5% at Thursday's close from the end of 2021, less than the average decline of 21% for equivalent indexes in other advanced economies over the same period.

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