Reuters TOKYO lull has come out of Japan to buy shares overseas power

Reuters TOKYO lull has come out of Japan to buy shares overseas power. In addition to a growing mood that the downgrading of risk aversion in the Spanish concern, too close to Christmas 自己破産 , so that it moves gradually weakened. Japanese stocks are still a strong sense of vigilance high, domestic institutional investors have continued to wait and see attitude 過払い , the aim of further upside without buying overseas power is seen as difficult.

However, the weight adjustment of Japanese shares continued even beyond the immediate year 過払い 請求 , sentiment has been steady and is maintained out of view too.

<Selling shares over the 14 business days before the trend toward the foreign>

NY U.S. industrial production index and a series of U.S. economic indicators such as manufacturing business conditions index was steady state, the mood intensified risk aversion by foreign investors in the direction that the review announced by Moody's lowered the ratings of Spain. The progressive depreciation of the yen against the dollar to 84 yen as the euro-dollar and rising interest rates against the U.S. 過払い金 請求 , the Nikkei average has been around the last close of Ai Tomomi. "Christmas is approaching, began to slow the movement of overseas power. But buying active individual investors 国際 , institutional investors have been wary of Spain and Europe, including both domestic and international financial issues" (the Ekuitisutoratejisuto Mizuho Securities Mr. Segawa Takeshi) said.

According to the survey content trading by investor Markets Tokyo Stock Exchange ２００９年過払い金、今すぐ , foreign investors in September billion yen in 1261, May 10 billion yen in 4626 債務整理・借金返済の無料相談なら弁護士法人アディーレ法律事務所 , November, and net purchases of three consecutive months billion 4208, about 17 Nikkei average percent boost engine. Buying and delayed, however, domestic institutions have many high sense of vigilance, "to rise further aim of buying overseas power is essential" (second-tier investment information department) said.

However, in the order status data of shares through an informal 10 foreign securities companies with high level of interest before the opening of the market there are net sellers of business days and 14 million shares to buy 16.4 million shares for sale 1790 was. Observations and also buying a basket of European and prime stock, but not completely stopped, but the flow itself is thinner, which is expected to feel round of buying has begun to emerge.

In the market, "buying from foreign investors step was seen adjusting and incorporating Japanese equities in anticipation of next year, the catch of the funds passed down the rate incorporated in Japanese stocks are expected to continue for some time" (Hazime Ken Hirano Securities Tatibana Officer) is asked in, and view with the lower price of Japanese shares are mostly hard, could be the holiday season nears 動意 poor.

<Risk downgrading of Spain, EU focus on meeting>

Dollar / yen is rising in overseas markets to a halt, a little weak in the early development of 84 yen. In overseas markets, but once broke the upside resistance has been suppressed until now, the upside in the Tokyo market was hampered by selling exporters. However, there may have been anxious to recede due to the increasing U.S. interest rates lower price, keeping the 84 yen level. In the market, the European Union in anticipation of downgrade risk in Spain (EU) summit has attracted attention.

Moody's rating is Spain's "Aa1" about the policy review announced at the possibility of a reduction in the market, if the sovereign has expanded into a larger economy than Spain, Ireland and Portugal, the European rescue fund have come up and lack of concern. "For hate German relief costs, the risk of downgrades likely come under pressure in Spain. If spreads against Germany to expand the Spanish government bond auction today in a slump, might have even stronger pressure" (DIR Chief Currency Strategist, Mr. Oka Yuuzi turtle) are expected to.

The German officials at the 14th European Central Bank (ECB) will increase its capital if deemed necessary, express the view of showing support for the German government. Mr. Kameoka DIR is "going to be a common ground is this. EU through discussion at the summit, Germany, the ECB might have moved in the direction of better promoting its purchases of government bonds in neighboring countries by the capital increase. Euro and the expansion of fund With the introduction of the bond area, but leads to joint public backlash in Germany, ECB if the capital increase made to achieve understanding, "he said.

<Yen bond market is down overall demand for hedging>

Yen bond market is significantly JGB futures continued to fall, bond yield spreads cash distribution yield gap between long-and subjected to ultra-long zone was expanded in bear steepening.

The cash bond market, the selling banks are not observed from the stress, but was quiet market conditions, depressed the overall market demand for hedging derivative transactions. Toshi Kon, chief strategist at Deutsche Securities Yamashita Amane, "the spot did not move much. The idea of a movement that continues to hedge swaps and futures to prepare for higher interest rates. Some poor liquidity, the situation is easy to fly continues to be, "he said.

Difficult to present as a background peddlers out operations staff of the domestic banks, "I do not want to have a paper loss realized in the quarter is approaching," have said.