Tokyo Stock Exchange to Publish Short Selling Data

The Tokyo Stock Exchange (TSE) has decided to publish data on short selling of stocks listed on the exchange. Monthly trading value figures for short selling will be calculated by summing the total of the daily trading value figures, excluding buy-backs of shares, so the data will not give any indication of the open position of short sales at the end of each month. Astonishingly, when revisions are made after the figures are announced, the revisions will not be reflected or readjusted in the original report published by the TSE. Public announcements on monthly trading volumes will be required for short selling with regulated stock prices and short selling without regulated stock prices. This new rule will cover short selling on all TSE markets, excluding its foreign market. Data for each month will be announced on the TSE web site on the 20th day of the following month. The first release of monthly data on short selling will take place on April 22 and will cover data for the month of March, 2002.