TABLE-Japan Feb investor sentiment edges up from 2-yr low

(For the main story on the poll results, see [ID:nTFD002910])

By Akiko Takeda

TOKYO, Feb 27 (Reuters) - Sentiment among Japanese retail
investors improved slightly in February from a two-year low as an
uncertain global economic outlook kept them cautious on stocks, a
Reuters poll showed on Wednesday.

Individual investors showed a record interest in putting
money in bank deposits and safe-haven government bonds, while
their willingness to buy overseas equities, foreign bonds and
foreign currencies fell.

The monthly sentiment survey by Reuters produced a diffusion
index of minus 56, inching up from minus 60 in January -- the
lowest since the poll began in January 2006. February's outcome
marked the second lowest level.

The poll was conducted on Feb. 12-15 and obtained responses
from 1,029 investors, mainly men in their 40s to 60s.

The diffusion index is calculated by subtracting the
percentage of investors who say they are bullish from those
calling themselves bearish.

Following are details of the survey:

Q1a. How do you plan to allocate your spending, investment
and savings.

SPENDING INVESTING SAVINGS

Increase from last year 7% 34% 31%

Decrease from last year 51% 30% 21%

The same as last year 42% 36% 47%

Q1b. Those who selected "increase" or "decrease" spending in
Q1a, please choose from items below that most suit your plans.

INCREASE DECREASE

Food 17% 19%

Clothes, etc. 11% 20%

Luxury goods 5% 21%

Education, lessons 11% 2%

Entertainment 22% 19%

IT 7% 3%

Autos 8% 10%

House remodeling 15% 5%

Others 5% 1%

Q2. Are you currently bullish or bearish on Japanese stocks?

DIFFUSION INDEX = BULLISH - BEARISH
OVERALL MARKET -56 = 22% - 78%
-------------------------------------------------------------

FEB JAN DEC NOV OCT
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
OVERALL MARKET -56 -60 -30 -48 -22
MATERIALS (steel, oil, etc) -4 4 28 16 60
AUTOS, AUTO PARTS -12 -4 26 -16 10
I.T., HIGH-TECH, ELECTRONICS -20 -36 22 -8 2
PHARMACEUTICALS, HEALTH CARE 20 14 28 14 12
SERVICES -60 -62 -40 -44 -50
RETAIL/DISTRIBUTION -78 -80 -62 -68 -62
FINANCIALS -72 -70 -40 -68 -48
REAL ESTATE/CONSTRUCTION -78 -80 -62 -68 -48
-------------------------------------------------------------

Q3. Which of the following stock sectors are you interested
in putting new funds into?
-------------------------------------------------------------

FEB JAN DEC NOV OCT
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
GROWTH STOCKS 31% 35% 47% 35% 49%
INTERNATIONAL BLUE-CHIPS 48% 49% 49% 40% 46%
LOW-VALUATION 59% 56% 60% 61% 55%
SMALL CAPS 10% 11% 20% 16% 19%
CYCLICALS 6% 5% 6% 6% 7%
IPOs 7% 6% 9% 9% 9%
NEW LISTINGS 2% 4% 5% 5% 5%
OTHERS 10% 8% 4% 8% 6%
-------------------------------------------------------------

Q4a. Which of the following financial products are you
interested in putting new funds into?
-------------------------------------------------------------

FEB JAN DEC NOV OCT
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
BANK DEPOSITS 31% 20% 21% 24% 20%
DOMESTIC STOCKS 49% 48% 63% 53% 56%
OVERSEAS STOCKS 16% 23% 21% 17% 25%
GOVT BONDS 18% 5% 5% 5% 6%
DOMESTIC CORPORATE BONDS 2% 0% 2% 2% 2%
FOREIGN BONDS 14% 16% 13% 12% 15%
EQUITY FUNDS 31% 31% 29% 26% 33%
BOND FUNDS 4% 2% 4% 4% 4%
LISTED FUNDS 10% 6% 6% 6% 8%
REITS 7% 5% 6% 5% 6%
REAL ESTATE PRODUCTS 2% 2% 2% 2% 2%
GOLD, COMMODITIES 12% 15% 10% 8% 12%
FOREIGN CURRENCY DEPOSITS 11% 14% 12% 12% 12%
VARIABLE INSURANCE 1% 1% 0% 0% 0%
VARIABLE ANNUITY 1% 1% 1% 2% 1%
FOREX MARGIN TRADE 13% 13% 13% 15% 15%
OTHERS 5% 4% 3% 4% 4%
-------------------------------------------------------------

Q4b. Those who selected equity funds in Q4a, which
geographical area are you interested in?
-------------------------------------------------------------

FEB JAN DEC NOV OCT
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
JAPAN 18% 16% 28% 25% 27%
NORTH AMERICA 4% 2% 5% 4% 10%
ASIA/OCEANIA 12% 12% 41% 45% 44%
EURO ZONE 7% 7% 14% 14% 21%
EUROPE EX-EURO ZONE 3% 0% 11% 7% 13%
BRAZIL 10% 13% 34% 32% 31%
RUSSIA 10% 12% 29% 22% 22%
INDIA 16% 19% 52% 50% 55%
CHINA 7% 10% 27% 34% 35%
GLOBAL 10% 7% 17% 19% 21%
OTHERS 2% 2% 7% 6% 5%
-------------------------------------------------------------

Q4c. Are you presently trading forex on margin, or thinking
of doing so in the future?
-------------------------------------------------------------
Yes 32%
No 68%
Note: The monthly poll aims to capture the views of readers of
an online magazine (here)
aimed at users of the Reuters Japan Web site
(www.reuters.co.jp).
(Writing by Aiko Hayashi; Editing by Eric Burroughs)