Equities rally, rising interest rates whet retail investors’ risk appetite

Revised flow-of-funds data from the Bank of Japan shows household equity assets exceeding insurance and pensions. (Photo by Nanami Sato)
AYAKA NAGANAWA and SEIICHIRO TAKITA
September 18, 2026 00:57 JST
TOKYO — Japanese households’ equity holdings have risen above their insurance and pension assets for the first time on record, revised Bank of Japan figures released Thursday show, as a stock market rally drew in investors.