A hedge fund run by billionaire investor George Soros was back placing bets in Japan, shorting the yen and snapping up local stocks, according to a Dow Jones Newswires report Friday, citing a source close to the matter. Soros returned to the market following some signs of stability in the Japanese bond market, the source was cited as saying in the report.
The person said that while the sharp recent fall in Japanese equities was a "surprise," the current level of stocks was "very attractive" as economic data and earnings were expected to pick up, Dow Jones reported.
The Nikkei Stock Average /quotes/zigman/5986735 JP:NIK -0.21% fell 2.1% in Friday's afternoon trading, and had entered a so-called bear market after dropping more than 20% from its 52-week peak reached on May 23. The U.S. dollar /quotes/zigman/4868099/sampled USDJPY -0.41% , meanwhile, was trading at ¥96.34, also sharply down from its May highs above ¥103
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