Japan GPIF Q2 net selling of domestic stocks - more detail

I posted earlier: Japan's GPIF net sold local stocks in Q2, first time since Q4 2013

Bloomberg have more details now:

The figures confirm that GPIF, the world's biggest pension fund with $1.2 trillion of investments, has neared the end of an unprecedented shift to stocks from bonds

"It's a little unexpected to see public pension funds selling in the second quarter. It's probably because they needed to rebalance after stocks rose and pushed the weights higher," said Soichiro Monji, chief strategist at Tokyo-based Daiwa SB Investments Ltd. "GPIF's allocation shift is almost over."

(bolding mine)