In the six months through September, inflows to mutual funds in Japan rose 27% to $23.5 billion, according to the Investment Trust Association of Japan. In the first half of the year, the average Japanese mutual fund rose 17.2%, according to Nomura Research Institute.

Since the market’s low point in March, the Nikkei 225 Average has risen 40%, while the neighboring Hang Seng H-Shares Index of mainland Chinese shares is up 95% and the Jakarta Composite Index is up 100%.

The best-selling mutual fund categories in Japan have been emerging stocks, government bonds and overseas real estate investment trusts, Hisashi Kaneko, an economist with Nomura Research, told the Financial Times.

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