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Improving Japanese exports fuel bullish stock outlook

Investors going 'overweight' on steel and machinery sectors

Steel companies are expected to benefit from growing Chinese infrastructure investment.

TOKYO -- Market watchers are turning bullish on economically sensitive stocks such as steelmakers and machinery companies, driven by hopes of recovering Japanese exports. 

The percentage of institutional investors going "overweight" on steel and machinery stocks reached 21% this month, up 4 percentage points from a month earlier, according to a QUICK market survey of about 60 equity managers. The percentage of "overweight" respondents exceeded that for "underweight" investors by 15 points, the widest gap since June 2015. 

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