Talk macro fund behind Nikkei sell-off

FXstreet.com (Barcelona) - The severity of the Nikkei sell-off in the last 30 minutes has investors and traders looking for what might have been the catalyst which saw this unuaual 3.5% slide in the Nikkei in the space of 30 minutes.

According to Haruya Ida, editor at IFR Markets, notes: "Long liquidation, paring of positions pre-weekend polls cited", adding that "extent of Nikkei plunge suggests something more may be at work."

There is more market talk in the market pointing at a macro fund having sold a sizeable Nikkei future position ahead of this weekend upper house election in Japan.