Foreigners turn net buyers of Japanese stocks last week
FOREIGN investors were net buyers of Japanese stocks in the week ended Jan 13, buoyed by rising expectations of the US Federal Reserve scaling back the size of further rate hikes, and optimism around regional growth after China’s reopening.
Overseas investors purchased Japanese equities worth a net of 52.65 billion yen (S$543.2 million) last week after disposing of stocks for four weeks in a row, data from exchanges showed.
They poured a net of 170.53 billion yen into cash equities but withdrew 117.88 billion yen out of derivatives.
Japanese technology stocks jumped last week, tracking the Nasdaq Composite’s gains of about 4.5 per cent. Chip giants Tokyo Electron and Advantest surged 9.5 per cent and 5.3 per cent, respectively, while air-conditioner maker Daikin Industries climbed 5.1 per cent.
The Topix index, too, gained 1.46 per cent last week after posting losses for four weeks in a row. The Nikkei share average added 0.56 per cent.
Data showed cross-border investors offloaded a net 1.08 trillion yen worth of Japanese bonds last week, marking their first weekly net sales in three weeks.
Meanwhile, Japanese investors secured 1.38 trillion yen worth of overseas bonds to mark a second week of net purchases in a row. They also obtained 491.5 billion yen worth of foreign equities in an eighth straight week of net purchases. REUTERS
Share with us your feedback on BT's products and services
