Half of New NISA Investments Went to Japanese Stocks
Tokyo, May 5 (Jiji Press)--Nearly 50 pct of investments made through the new Nippon Individual Savings Account, or NISA, program went to Japanese stocks from January through March, a survey has shown.
During the quarter, the Nikkei 225 stock average rewrote its record high for the first time in 34 years and rose further to top 40,000.
The new NISA tax exemption program for small-lot investors allowing bigger tax-free investments began in January, replacing the previous NISA program.
According to the Japan Securities Dealers Association survey of 10 major traditional and online brokerages, including Nomura Securities Co. and SBI Securities Co., domestic stocks accounted for 47 pct of the purchases placed via the new NISA program between January and March, just shy of 50 pct for investment trust funds.
"The amount bought via NISA was more than three times the year-before level," Daiwa Securities Co. Managing Executive Director Kotaro Yoshida said, explaining moves by NISA account holders at the company.
(2024/05/05-19:08)
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