Foreigners turn net buyers of Japanese stocks ahead of corporate earnings

Screen Holdings

15/04/2021 09:14

April 15 (Reuters) - Foreigners turned net buyers of
Japanese stocks in the week ended April 9, bolstered by a rally
in domestic semiconductor shares amid a global shortage of chips
and on investor hopes of a strong corporate earnings season.
    Overseas investors bought 575 million Japanese yen ($5.28
million) worth of stocks last week, after dumping them in the
previous two weeks, data from Japanese exchanges showed on
Thursday.
    They bought a net 140.3 million yen worth of derivatives and
435 million yen in cash equity markets.
    Investor expectations that Japanese companies will post
solid second-quarter numbers and strong U.S. jobs data prompted
overseas investors to take higher risks and purchase Japanese
stocks.
    Shares related to semi-conductor companies such as Advantest
 6857.T  and Tokyo Electron  8035.T  climbed as the industry
looked set to boost manufacturing amid a global shortage of
chips.
    But, Japanese shares have posted losses this week over a
resurgence in domestic COVID-19 cases that cast doubts over a
potential economic rebound.
    Meanwhile, Japanese investors net sold $623 billion worth of
overseas equities last week, their fifth consecutive weekly
sales.
    
    
     
    ($1 = 108.8500 yen)

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Foreign flows into Japanese equities    https://tmsnrt.rs/3ssTTWp
Japanese investments abroad- weekly    https://tmsnrt.rs/2QrwMOk
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 (Reporting By Patturaja Murugaboopathy, Editing by Sherry
Jacob-Phillips)
 ((patturaja.murugaboopathy@thomsonreuters.com;))