Japan’s Nomura sees opportunities in Trump’s pro-business agenda
Tokyo — Japan’s biggest brokerage and investment bank Nomura sees opportunities in the pro-business stance of US president-elect Donald Trump, though his protectionist tilt brings uncertainty to the global economy, says CEO Koji Nagai. Japanese shares have gained since the New York billionaire’s November 8 election, spurred by Wall Street where investors are betting Trump’s support of deregulation and infrastructure spending could boost the US economy. "The market expects business and economy-friendly policies," Nagai said. "Clients will have to rebalance portfolios, in both Japan and America. That’s a chance for us." Investors shifting funds to riskier assets such as shares would be a boon for Nomura’s equity trading arm, while increased business activity will benefit its advisory and equity and bond underwriting divisions, Nagai said. Nomura earned over half of April-September overseas pretax profit in the Americas, where it is shifting focus to client-oriented services from marke...
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