Blue-chip Japanese equities are continuing to attract interest from value investors, who plan to increase their exposure in the second quarter of the year in spite of the country’s recent troubles, according to Financial Times research.

According to Celsius, a new quarterly survey that polls the opinions of 954 UK advisers and discretionary investment managers, the Nikkei 225 will be in demand for its growth stocks over the next three months, in spite of last month’s earthquake and tsunami.

Investors’ interest in Japan as a “bargain bucket” is in sharp contrast to a marked decline in sentiment towards emerging markets such as Brazil, Russia, India and China. “Developed markets are in. Emerging markets are still hot but far more temperate than last quarter or during 2010,” wrote the study’s authors.

Volatility in the wake of the Arab uprisings is proving supportive of North American and continental European equities, with the US market – which includes ExxonMobil, Chevron and ConocoPhillips – seen as benefiting from higher oil prices. Europe is being aided by a period of calm.

The research, arranged by FT Business, was conducted last month by Core Research, a research firm.

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