11.   Most Japanese institutional investors appear to be accumulating cash in preparation for a more active fund allocation for Japanese hi-tech stocks, Shirai said.

12.   On Tuesday, investors had been cautious in both currency and stock markets ahead of the announcement on pension fund allocations.

13.   Public sector pension funds were originally expected to start fund allocations from mid-April.

14.   So there are no fresh foreign fund allocations.

15.   Speculation about fund allocations by public sector pension funds also provided some support, dealers said.

16.   The euro was firmer on a continued shift of fund allocation back to European assets from US assets, dealers said.

17.   The market also gained from lingering expectations for additional fund allocation by foreign investors, dealers said.