Enzio von Pfeil

The Long Case for Japanese Stocks (EWJ)

Who knows? I would not put too much emphasis on US demand dictating Japan's current account surpluses. Seems to me like China is playing an increasing role via cheaper japanese imports from China and thus more Japanese exports to America, once the China-made product has had a final once over in Japan.
Get a good stock person to tell you what is mainly responsible for Japan's stock market performance. My guess, as a macro guy, is mainly the domestic plays.