Japan purchases of foreign bonds hit record on stronger yen

August tally tops $50bn ahead of expected Fed rate cut

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Japanese pension funds are believed to have stepped up their buying of foreign bonds in August. © Reuters

MIKI KAMIYAMA and AKIRA INUJIMA, Nikkei staff writers

TOKYO -- Investors in Japan bought a record amount of overseas bonds in August, the latest data from the Finance Ministry shows, as a stronger yen prompted pension funds and other players to rebalance their portfolios.

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