高盛：日经指数暴涨30%跑赢美股，美资涌入速度创“安倍经济学”后之最

Core Insights - U.S. investors are increasingly buying Japanese stocks focused on technology and artificial intelligence due to high returns compared to U.S. markets [1] - The influx of U.S. funds into Japan has reached its fastest pace since the implementation of "Abenomics" [1] - The Nikkei 225 index has risen approximately 30% in U.S. dollar terms this year, significantly outperforming the S&P 500's 14% increase [1] Group 1 - The participation of U.S. investors in the Japanese stock market is at its highest level since October 2022, indicating a potential shift in market dynamics from value stocks to growth stocks [1] - The strong performance of the Japanese stock market is supported by a 2.5% appreciation of the yen and optimistic sentiment from Prime Minister Kishida's stimulus policies [1] - Foreign investors net purchased 384 billion yen (approximately $2.5 billion) of Japanese stocks in the last two weeks of October [3] Group 2 - There is still room for further inflow of foreign funds into Japanese stocks, as global investors' net holdings remain lower than the peak during the "Abenomics" era [3] - The ongoing demand for diversified investment from global investors may sustain the trend of increasing participation in the Japanese market [3] - The Nikkei index entered an overbought territory in late October, suggesting potential market consolidation [3]