Foreigners continue to remain net sellers of Japan stocks for sixth week

[BENGALURU] Foreigners continued to exit Japanese stocks for the sixth consecutive week that ended June 14 due to lingering Sino-U.S trade tensions, despite strong gains in local shares.

Overseas investors sold a net 190.65 billion yen (S$823.4 million) worth of Japanese stocks, including cash equities and futures, in that week, data from Japanese stock exchanges showed.

Foreigners sold a net 199.23 billion yen in cash markets, but purchased a net 8.58 billion yen in derivative markets, the data showed.

"Outflows have become more prominent again amid worsening trade tensions and a softening in economic indicators," Goldman Sachs said in a report this week.

In the June 10-14 week, the Nikkei index gained 1.1 per cent and the Topix index rose 0.9 per cent.

On the other hand, Japanese investors bought 232.5 billion yen of overseas equities in the week ended June 14, their sixth straight week of net purchase, data from the Ministry of Finance showed.

REUTERS