After being seen as one of the worst-performing markets in the developed world, Japan's recent equity rebound is drawing differing views from Wall Street observers on where it will go next.
On the skeptical side, BlackRock Inc. told investors not to chase the rally. Pictet Asset Management Ltd.'s Hiroshi Matsumoto said the nation's economy remains vulnerable to a potential breakdown in trade talks between the U.S. and China, Japan's top two trade partners.
That's why it's too early to give a "green light" to the market, said the head of Japan investment for the $192 billion fund house.