发帖
雷达卡
TOKYO -- Overseas investors continue to unload Japanese equities as they seek to flee risky assets amid international political instability and to bring down positions built up through aggressive purchases last year.
Foreign investors sold 100.3 billion yen ($975.2 million) more in shares than they bought last week, according to the Tokyo Stock Exchange, becoming net sellers for a second straight week. Their net selling has reached a whopping 1.96 trillion yen so far this year.
Hedge funds appear to be among the big sellers. Investors around the world are generally cutting back their exposure to risky assets amid the turbulence in Ukraine. Foreigners are also disappointed that Bank of Japan Gov. Haruhiko Kuroda does not seem up for additional monetary easing.
The selling at the start of the year was primarily for stock index futures and futures-linked cash stocks. Leveraging futures, hedge funds snapped up large volumes of Japanese shares last November and December, dumping them soon after. This month's selling is mostly for cash stocks.
Foreign selling has "almost run its course," in the words of Yutaka Miura, senior technical analyst at Mizuho Securities. Futures selling has decreased sharply since February. Investors also apparently unloaded cash stocks this month simply because they wanted to do so when trading value typically increases ahead of the March 31 book-closings. Long-term investors are said to be shying away from the selling frenzy and just taking a wait-and-see stance as well.
京公网安备 11010802022788号
