BUZZ-JPX-Nikkei 400-linked allocations up sharply - Citi on GPIF review

** JPX-Nikkei index 400 linked asset allocation up sharply to 1.7 trln yen - Citi based on GPIF's review

** Adds JPX-Nikkei index 400-linked weighting for domestic equities up to 5.3 pct from 0.7 pct in the passive category

** Top weighted JPX-Nikkei 400 stocks include KDDI, Mitsubishi UFJ, Mizuho Financial (NYSE: MFG - news) (http://bit.ly/1fBcgmY)

** GPIF 2014 review of operations (http://bit.ly/1dUS8uv)

** As per Citi's calculations end-June domestic equity balance expanded to 33.6 trln yen on capital gains alone

** Estimates total AUM at end-June grew to around 146 trln yen

** Confirmation of a certain level of domestic equity purchasing scope for the GPIF provides reassurance about the near-term equity supply/demand balance

** Also, Japan is the only major Asian market with earnings upgrades in last one month, StarMine shows, largely due to its push on improving return ratios and corporate governance

(RM (LSE: RM.L - news) : abhishek.vishnoi.thomsonreuters.com@reuters.net)