Shorts in Tokyo Soars to Record on Abenomics Skepticism
This article is for subscribers only.
Bearish bets on Japanese stocks surged to a record because foreign investors are increasingly skeptical that Prime Minister Shinzo Abe will succeed in reviving the world’s third-biggest economy, said Reorient Group Ltd.
Short-selling of shares on the Tokyo Stock Exchange accounted for 37.8 percent of trading value yesterday, the highest ratio since the bourse began keeping daily records in 2008. The Topix index sank 2.9 percent yesterday. Investors pulled $245 million out of the biggest U.S.-listed exchange-traded fund tracking Japanese shares on Jan. 5, the second-largest outflow since May 2013, data compiled by Bloomberg show.