When trading Japanese stocks, short selling information can be extremely useful for understanding market sentiment and selling pressure. However, just looking at the data published by the Tokyo Stock Exchange (JPX) at a glance can make it difficult to understand what the numbers actually mean. This article first explains the basic structure of short selling information and how to access it.
1. Where to Access Short Selling Information in Japan
Short selling information in Japan is primarily published on the official website of the Tokyo Stock Exchange (JPX). The available data includes:
- Daily short selling data: Trading value and ratios for each trading day
- Monthly short selling data: Aggregated trading value and ratios over a month
- Sector-level short selling data: Shows which industries have higher short selling activity
All of these datasets are freely accessible.
You can access the data as follows:
- Open the JPX website:
Japan Exchange Group (JPX)
The official site of JPX, which operates the Tokyo Stock Exchange, Osaka Exchange, and Tokyo Commodity Exchange, contributing to sustainable social and economic development.
www.jpx.co.jp
- Navigate to: Data & Statictics > Statistics (Equities) > Short Selling Value
- Click on the dataset you want to view: daily summaries, sector-level summaries, or monthly summaries.
Detailed explanations of the numbers and how to read the tables will be covered in a separate guide.
2. Basic Structure of Short Selling Data
JPX short selling tables mainly include the following items:
- Actual order trading value (a)
The trading value of executed transactions, including both regular buy/sell and short selling. - Short selling with price restrictions trading value (b)
Trading value of short selling for stocks subject to price restrictions by JPX, usually applied to stocks at risk of sudden price drops. - Short selling without price restrictions trading value (c)
Trading value of short selling for normal stocks not subject to price restrictions. - Total trading value (d)
The sum of (a) + (b) + (c)
Each ratio in the table is calculated relative to this total.
3. Understanding Market Sentiment Through Ratios
The table also provides ratios for each trading value:
- (b)/(d): Proportion of short selling with price restrictions relative to the total market
- (c)/(d): Proportion of short selling without price restrictions
- (a)/(b): Comparison of actual orders to short selling under price restrictions
By analyzing these ratios, investors can get a sense of which stocks or markets are under selling pressure.
4. How Much Individual Stock Short Selling Information Is Available?
The Tokyo Stock Exchange also publishes some data for individual stocks. However, not all short selling positions are available in real time.
Specifically, large short positions equal to 0.5% or more of a company’s outstanding shares are disclosed daily by JPX as “Outstanding Short Selling Positions.” Data can be downloaded in Excel format, with historical data for the past 13 months.
This allows investors to get a general idea of which individual stocks are facing greater selling pressure. However, small positions below 0.5% and real-time trades are not included, so it is not possible to see the full picture.
You can access the data as follows:
- Navigate to: Data & Statistics > Documents Available for Public Inspection > Information on Outstanding Short Selling Positions
- Select the file for the date you wish to view.
5. Summary: Start with Official Data
- By examining ratios, you can understand market sentiment and selling pressure trends.
- Short selling information in Japan is freely available on the JPX website as daily, monthly, and sector-level data.
- Basic table structure includes: actual orders, short selling with price restrictions, short selling without price restrictions, and total trading value.
- Detailed explanations of how to analyze each item will be provided in a separate guide.
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