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The Bank of Japan Might Just Be the Newest Meme Stock
The Bank of Japan, which trades on the Tokyo Stock Exchange’s Jasdaq section, surged the most since 2005.
02 Mar 2021, 10:45 AM IST 
A Japanese national flag flies outside the Bank of Japan (BOJ) headquarters in Tokyo, Japan. (Photographer: Toru Hanai/Bloomberg)
(Bloomberg) -- A surge in the stock of Japan’s central bank bewildered investors on Monday. The Bank of Japan, which trades on the Tokyo Stock Exchange’s Jasdaq section, surged by the daily limit of 18%, the most since 2005. The shares, or subscriber certificates as they’re technically called, have no real benefit, with no voting rights and offering very limited dividends. But “short-term retail investors don’t care about dividends, they’re looking just for capital gains,” said Tomoichiro Kubota, a senior market analyst at Matsui Securities Co. “They’ll see it as attractive so long as the share price keeps rising and there are buyers.”
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