Foreigners net buyers in Japanese stocks for a third consecutive week
25/08/2022 08:20
Aug 25 (Reuters) - Foreigners continued purchases in
Japanese stocks for a third consecutive week in the week to Aug.
19 as upbeat domestic corporate earnings and a rally in Wall
Street's major indexes boosted sentiment further.
Overseas investors bought Japanese stocks worth a net 403.89
billion yen ($2.96 billion) last week, marking their biggest
weekly purchase since July 22, data from exchanges showed.
They secured derivatives worth a net 426.18 billion yen but
exited a net 22.29 billion yen in cash equities.
Investors scooped up a fresh batch of domestic firms last
week, lured by their strong quarterly results. Discount store
operator Pan Pacific International Holdings 7532.T surged
12.7% last week, while Sundrug 9989.T added nearly
10%. urn:newsml:reuters.com:*:nXB020456F
The Nikkei share average .N225 and the Topix index .TOPX
rose over 1% each last week, in their third weekly gain in a
row. The Nikkei also hit an over seven-month high in that week.
However, both indexes are set for a weekly loss this week as
investors are cautiously awaiting for clues on the size of U.S.
interest rate hikes, from the U.S. Federal Reserve's annual
Jackson Hole conference, due to start on Thursday.
Meanwhile, Japanese bonds obtained a net 2.36 billion yen in
foreign inflows last week, after witnessing a weekly outflow in
the week before.
On the other hand, Japanese investors withdrew a net 72.2
billion yen out of overseas bonds after two weeks of purchases,
while also disposing of foreign equities, worth 506.3 billion
yen.
($1 = 136.6800 yen)
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Foreign flows into Japanese stocks https://tmsnrt.rs/3RdDy4B
Japanese investments in stocks abroad https://tmsnrt.rs/3Cvt4cr
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(Reporting by Gaurav Dogra and Patturaja Murugaboopathy in
Bengaluru; Editing by Krishna Chandra Eluri)
((gaurav.dogra@thomsonreuters.com))