Last week saw the balance of long margin positions rise in volume for the seventh consecutive week, reflecting a shift away from pricey stocks and into low- and medium-priced shares.

The outstanding balance of shares bought on credit on the Tokyo, Osaka and Nagoya stock exchanges stood at 2.67 billion shares at the end of the week, up 59.48 million shares from a week earlier, according to a weekly industry report.

Individual investors opted for steel, shipbuilding and other low-priced incentive-backed issues, brokerage officials said.

In terms of value, the balance turned lower, with the previous week’s upturn proving to be short-lived.

The balance stood at 1.59 trillion yen, down 40.91 billion yen.

The balance of short margin positions, on the other hand, rose for the second straight week in both value and volume.

Specifically, the balance of shares sold short stood at 922.79 million shares, up 51.98 million shares, and at 811.52 billion yen, up 19.37 billion yen.

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