CIC said to invest in Japanese stocks

CHINA Investment Corp, which manages the nation's US$200-billion sovereign wealth fund, will start investing in Japanese stocks as early as the current fiscal year, the Mainichi newspaper said.

The Beijing-based sovereign fund plans to invest about US$67 billion, a third of its assets, in overseas markets including Japan, the paper reported without saying where it obtained the information. CIC is preparing to open bank and brokerage accounts and set up a settlement system in Japan, the newspaper said. Investment targets may include natural resources and environmental technology, the paper said.