Japan has intervened to weaken the yen for the second time in three months after the currency hit a fresh record high against the dollar.
Jupiter CIO John Chatfeild-Roberts and his Merlin multi-manager team have said clear warning signs are beginning to emerge on Chinese growth prospects as well as the outlook for natural resources.
Japanese investment trusts' high concentration to small and mid caps has paid off, with the sector outperforming the open-ended space over the past year.
China has warned of a possible trade war as the US Senate voted in favour of debating laws which could pressure it to let the renminbi rise.
Japan has said it will consider helping to save Greece as part of a wider bailout plan as it looks to avert a crisis in global growth.