The world’s largest pension fund chose two members who were on a state panel that urged it to cut bonds to head its investment committee.
In Japan, where company strategies curtail return on equity to half the global average, the government has a new weapon to shame chief executive officers into boosting returns: a stock index.
Japanese shares fell, with the Topix index headed for its second drop this week, as insurance companies led declines and investors weighed the nation’s new growth strategies.
Japanese shares rose, with the Topix index extending its longest winning streak in almost a year, as advancing agricultural shares countered a decline in utilities.
"When news first comes out, everyone starts avoiding risk at once, but then slowly people start getting used to the situation."
- Ayako Sera on Aug 11, 2014