The Bank of Japan's announcement of aggressive growth stimulus measures on Thursday pushed up the flagging Nikkei and caused the yen to fall sharply against the US dollar.
Japanese shares have slumped in this morning's trading as equity markets struggle to consolidate gains seen in the first quarter of 2013.
Some of the largest funds in the IMA Global Emerging Markets and Asia Pacific ex Japan sectors have significantly increased exposure to Indian equities over 12 months to the end of January.
China's stock market has rebounded slightly on Tuesday after its worst day for 18 months, as the country's parliament begins its annual session.
Asian stocks have rallied for the third day in a row, led by Japanese shares, as regional indices touch highs last seen in 2011.
Architas CIO Caspar Rock has increased his funds' weightings to equities - particularly Japan - in the expectation the momentum behind the recent move into risk assets will continue.
UBS Asset Management is to become the latest group to boost its passive fund offering in the UK, as it launches the first product in a new range for retail investors.