The Nikkei 225 double shorting ETF holdings hit a new high, attracting attention as retail investors operate against the market.

Jin10 Data reported on August 1st that as the Japanese stock market continues to hit historical highs, retail investors are increasing their bearish bets, highlighting deep concerns about the sustainability of this round of rise in the market. This tendency for contrarian behavior has long been rooted in the behavior patterns of Japanese retail investors. Some analysts believe that this mentality stems from the long-term effects of the yen's appreciation and deflation over several decades. Last week, after Japan and the United States reached a tariff protocol, the TOPIX index hit a historical high, recording the largest weekly rise in nearly a year. However, this strong surge has instead prompted retail traders to prepare for a pullback in the stock market. This week, the holdings of the Nikkei 225 double shorting ETF reached a record high, doubling from the lows in mid-April. Short positions in margin trading also surged to 958 billion yen, the highest level since March last year, more than doubling from the lows in early April.