China Investment Corp (CIC), the country's new State-owned wealth fund, is still working out its investment strategy and has not yet decided to buy stocks in Japan or any other country, the fund's vice president said on Monday.

We have not fixed our specific asset portfolio strategy yet, let alone decided to focus on a particular market," CIC Vice-President Jessie Wang told the reporter.

The yen and stocks in Tokyo surged on Monday after Nikkei reported the US$200 billion fund would invest some of its assets in Japan.