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BofAML's latest Fund Manager Survey noted.....>

JAPAN
JAPAN: BofAML's latest Fund Manager Survey noted that "allocation to Japan fell
to +9% in Nov from +18% in Oct. Flow to Japan failed to sustain as profit
outlook deteriorated. Global investors see slower growth and flatter curve,
typically not constructive for Japan equities. USD seen most overvalued since
2006 and JPY seen undervalued. USD/JPY vulnerable against risks."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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