(Bloomberg) In one telling, the selloff in Japanese equities is a natural reaction to shares rising too far, too fast. But another theory is emerging, one that involves hedge funds. For Noriyuki Sato of Asset Management One SP Pte, one reason for the declines is that hedge funds and others are closing their books for the year, so they’ve been making trades to lock in profits. The Topix index fell for a fifth day Wednesday, capping the longest losing streak this year, as the rout deepens after the measure closed at its highest in 26 years.
Hedge Funds Fingered as Sellers as Japanese Stock Rout Deepens
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